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Motor Vehicle Steering And Suspension Components (Except Spring) Market Analysis 2024-2033: Forecast Market Size, Top Segments And Largest Region | Bosch Limited, Hyundai Motor Company, Tenneco Inc., Denso Corporation
Motor Vehicle Steering And Suspension Components (Except Spring) Global Market Report
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Motor Vehicle Steering And Suspension Components (Except Spring) industry. This report on Motor Vehicle Steering And Suspension Components (Except Spring) market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The motor vehicle steering and suspension components (except spring) market size has grown strongly in recent years. It will grow from $98.44 billion in 2023 to $106.84 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to automobile mass production, road infrastructure development, innovations in steering and suspension systems, automotive safety regulations. The motor vehicle steering and suspension components (except spring) market size is expected to see strong growth in the next few years. It will grow to $147.5 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
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Key Market Players:
Bosch Limited, Hyundai Motor Company, Tenneco Inc., Denso Corporation, Hella GmbH & Co. KGaA, JTEKT Corporation, Knorr-Bremse AG, Nexteer Automotive Group Limited, ThyssenKrupp AG, ZF Friedrichshafen AG, Magna International Inc., Aisin Seiki Co. Ltd., Continental Automotive Systems Inc., Asama Coldwater Manufacturing Inc., Global Steering Systems LLC, Maval Industries LLC, American Showa Inc., Atsco Remanufacturing Inc., KYB Americas Corporation, Raytech Powertrain LLC, NSK Americas Inc., San-Ei Seiko America Inc., Hutchinson Aerospace & Industry Inc., Yamada North America Inc., Fox Factory Holding Corp., NSK Steering Systems America Inc., Key Electronics of Nevada Inc., Key Safety Restraint Systems Inc., Reman Gotec Plus Sun LLC, Mevotech LP
Market Drivers:
According to the Motor Vehicle Steering And Suspension Components (Except Spring) Market Report 2024 by The Business Research Company, the key factors driving the growth of the Motor Vehicle Steering And Suspension Components (Except Spring) market, includes the growth of the motor vehicle steering and suspension components (except spring) market is positively affected by the poor quality of roads. The steering and suspension components are used to maintain the stability of the motor vehicle on rough roads. Rough roads with potholes and poor surfaces cause wear and tear of steering and suspension components in the long run, thus increasing the risk of accidents. This constant wear and tear shortens their working life and increases the rate at which they need to be replaced.
More information about the Global Motor Vehicle Steering And Suspension Components (Except Spring) Market Report -
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Market segments for Motor Vehicle Steering And Suspension Components (Except Spring) include:
1) By Type: Steering Components, Suspension Components
2) By Application: Commercial Vehicle, Passenger Car
3) By End use: OEM, Aftermarket
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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