Smooth Ride Ahead: The Roadmap of the Automotive Suspension Market

The Brainy Insights launched a study titled Automotive Suspension Market Size by System (Passive System, Semi-Active System, Active System), Component (Air Compressor, Ball Joint, Spring, Shock Dampener), Vehicle Type, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028

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The global automotive suspension market is anticipated to grow from USD 46.58 billion in 2020 to USD 76.59 billion by 2028, at a CAGR of 6.41% during the forecast period 2021-2028. The increase in the demand of the car and the need for luxury & comfort in the car are some of the factors affecting the demand of the market.

The Brainy Insights has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors.

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The automotive suspension market refers to the global market for suspension systems that are used in automobiles. Suspension systems are an integral part of a vehicle's chassis, and they play a critical role in ensuring that the vehicle's ride is comfortable, stable, and safe.

There are several types of suspension systems that are commonly used in automobiles, including independent suspension, semi-independent suspension, and solid axle suspension. Each type of suspension system has its own advantages and disadvantages, and the choice of suspension system depends on the specific requirements of the vehicle.

The global automotive suspension market is driven by factors such as the increasing demand for comfortable and safe rides, the growing trend towards electric and hybrid vehicles, and the rising demand for luxury vehicles. Other key drivers of the market include the increasing adoption of advanced suspension technologies, such as air suspension and active suspension systems, and the growing demand for lightweight suspension systems that help to improve fuel efficiency.

Data about vendors have been covered in this report. Read Complete Report- https://www.thebrainyinsights.com/report/automotive-suspension-market-12589

Semi-active system is accounted for the highest market share of 38.82% in 2020

The system segment is divided into a passive system, semi-active and active system. Semi-active system is accounted for the highest market share of 38.82% in 2020 due to the reason that it is better than the passive system, which was having the performance limitations and it is more economical when compared to the active system, which is costly. This also consume less energy compared to active system suspension.

The passenger car accounts for the highest market value of USD 26.68 Billion in 2020

The vehicle type segment includes passenger car and commercial vehicle. The passenger car accounts for the highest market value of USD 26.68 Billion in 2020. The rise in the disposable income has raised the living standards of the people, which has created the demand for luxurious cars. So the production of passenger vehicle has increased.

The shock dampener segment is accounted for the highest market share of 32.44% in 2020.

The component segment includes air compressor, ball joint, spring, shock dampener and others. The shock dampener segment is accounted for the highest market share of the market in 2020, which is 32.44%. Besides reducing the effect of the jerks, this also helps the vehicle in preventing the too much tilt on one side while taking sharp turns. These systems causes the vehicle more stable and easily controllable.

The report provides a full list of key vendors, their strategies, and the latest developments.

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Regional Segmentation Analysis:

The regions analyzed for the Automotive Suspension market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Asia Pacific region is having the highest market share of 39.45% in 2020, due to the rapid urbanization in the emerging economies like China, India etc., increasing per capita income, population growth has led to increase in the production of the vehicle by the vehicle manufacturer.North America had the second-largest market share of 30.85% in 2020. All the major car manufacturing companies lies on this belt. Also, the people here look for the comfortable and more advanced car, having the most advanced facilities, these demands have increased the production of the car in this region which in turn driving the automotive suspension market.

Competitive Analysis:

The major players ofmarketincludeContinental AG, Fox Factory, Inc., Gabriel India Limited, Hendrickson USA, L.L.C., KYB Corporation, Mando Corporation, Sogefi S.P.A., Tenneco INC., Wabco and ZF TRW among others.

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This release was published on openPR.