Global Automotive Suspension Market Value Surges to US$ 43.47 Billion in 2022; CAGR of 3.5% Forecasted

Automotive Suspension Market Report Scope and Research Methodology

The Global Automotive Suspension Market Report 2023-2029 offers a comprehensive analysis of the automotive suspension industry, providing insights into market dynamics, segments, and regional trends. The report highlights key drivers and potential restraints influencing market growth, alongside an in-depth examination of regional market dynamics.

The report's findings are based on extensive research and analysis, incorporating primary and secondary data sources. The research methodology encompasses in-depth interviews, surveys, market observation, and statistical modeling. Additionally, the report employs PORTER and PESTEL analyses, evaluating micro-economic factors' potential impact on the market.

Market Values:

Automotive Suspension Market was valued at US$ 43.47 Bn. in 2022. Global Automotive Suspension Market size is expected to grow at a CAGR of 3.5 % through the forecast period.

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What are Automotive Suspension Market Dynamics:

Drivers:

Rapid adoption of e-mobility in developed nations and the transformation of the automotive sector in emerging economies are projected to boost global demand for vehicle suspension systems. The introduction of cutting-edge suspension systems in new generations of electric vehicles is expected to drive market growth. Additionally, the increasing preference for SUVs and compact SUVs is driving the need for advanced multilink suspensions, further stimulating market expansion.

Restraints:

Challenges in standardizing suspension systems across various vehicle types and the high initial cost associated with advanced suspension technologies may present hurdles for market growth.

Automotive Suspension Market Regional Insights:

Geographically, the Automotive Suspension Market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to emerge as one of the largest markets for Photonic Integrated Circuits (PIC) during the forecast period. The presence of major aircraft manufacturers such as Lockheed Martin and Boeing, along with the United States being a significant consumer of Photonic Integrated Circuits (PIC), is driving the market growth in the region.

Asia Pacific (APAC) led the market with a 35% share in 2022, and is expected to maintain dominance with the fastest CAGR. The region's growth is attributed to rising car sales in countries like China, coupled with a mature automotive sector and cost-effective production capabilities.
Europe is projected to witness significant growth at a CAGR of 3.5%, driven by robust automotive industries in Germany, France, and the United Kingdom. Major companies and luxury manufacturers in the region, along with a high adoption rate of electric vehicles, contribute to market expansion.
North America and other regions are expected to experience steady growth, with established automotive industries and a growing demand for suspension systems.

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What is Automotive Suspension Market Segmentation:

Considering System In 2022, the market was led by the passive category with 83.73%. This suspension system is the most common suspension system found in most standard passenger cars. This is a passive mechanism that is extensively used in all cheap cars. Additionally, accessibility improves the viability of jobs associated to replacement and maintenance. This system is also a great option for low- and mid-range cars due to its price.

Between 2022 and 2029, the active suspension systems market is expected to develop at the fastest rate. This system controls the vertical movement of the wheels with respect to the vehicle's body or chassis. Luxury cars are often equipped with one of the several active suspension systems available on the market.

by System

Passive
Active
Semi-Active

by Component

Shock Dampener
Struts
Control Arm
Ball Joint
Air Compressor

by Suspension Type

Hydraulic Suspension
Air Suspension
Leaf Spring

by Vehicle Type

Two Wheelers
Passenger Cars
Commercial Vehicles

Who are Automotive Suspension Market Key Players:

1. ZF Friedrichshafen AG (Germany)
2. Continental AG (Germany)
3. Mando Corporation (South Korea)
4. Thyssenkrupp AG (Germany)
5. Morelli Corporation (Japan)
6. KYB Corporation (Japan)
7. Tenneco Inc. (U.S.)
8. BENTELER (Austria)
9. NHK Spring (Japan)
10. Sogefi S.P.A (Italy)
11. WABCO (France)
12. FOX Factory, Inc. (U.S)

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Table of Content: Automotive Suspension Market

Part 01: Executive Summary

Part 02: Scope of the Automotive Suspension Market Report

Part 03: Automotive Suspension Market Landscape

Part 04: Automotive Suspension Market Sizing

Part 05: Automotive Suspension Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

Key Offerings:

Market Overview
Market Share
Market Size
Forecast by Revenue | 2023-2029
Market Dynamics - Growth Drivers, Restraints, Investment Opportunities, and Key Trends
Market Segmentation - A detailed analysis by segments, sub-segments and region
Competitive Landscape - Top Key Vendors and Other Prominent Vendors

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