Exploring the USD 32.87 Billion Global Truck Suspension System Market Forecasted for 2032 with a 4.2% CAGR by Allied Market Research

Allied Market Research published a report titled, "Truck Suspension System Market by Class (Medium Duty and Heavy Duty), Sales Channel (OEM and Aftermarket), and Type (Spring, Equalizer Beam, Air Spring Suspension, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global truck suspension system industry generated $21.85 billion in 2022, and is anticipated to generate $32.87 billion by 2032, witnessing a CAGR of 4.2% from 2023 to 2032.

➡️𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A12735

The truck suspension system includes components such as coil and leaf springs, shock absorbers, struts, frames, control arms, and others. The suspension system is an important element of a truck which allows increased handling and improves ride quality; the suspension system enables the tire and axles to move independently from each other instead of the axle being attached to the frame directly, this results in decreasing the impact of cracks and uneven terrain on the road. The global truck suspension system market is expected to witness significant demand in the coming years due to the growth of the logistics industry and the rise in production and sales of trucks and commercial vehicles. Similarly, fleet modernization and increasing demand for comfort and safety will play an important role in driving the market demand. Strategic collaboration between industry player for the development of truck suspension system is also positively helping in the growth of the market.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -

Link Manufacturing, Ltd
VDL Groep BV.
Continental AG
ZF Friedrichshafen AG
Simard suspensions
Sogefi SpA
Meritor, Inc
SAF-HOLLAND SE
Hendrickson
NHK SPRING Co., Ltd

𝐏𝐫𝐢𝐦𝐞 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡

Surge in fleet modernization and increased demand for comfort & safety, growth in the logistics industry, and rise in production & sales of trucks and commercial vehicles drive the growth of the global truck suspension system market. However, lack of standardization restricts the market growth. Moreover, rise in demand for lightweight suspension systems and reduced maintenance costs are anticipated to create a market opportunity for the players operating in the market.

𝐓𝐡𝐞 𝐦𝐞𝐝𝐢𝐮𝐦 𝐝𝐮𝐭𝐲 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

By class, the medium-duty segment held the highest market share in 2022, accounting for more than half of the global truck suspension system market revenue, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 4.2% from 2023-2032, due to increasing demand for medium-duty trucks in last-mile delivery and logistics.

𝐓𝐡𝐞 𝐎𝐄𝐌 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

By sales channel, the OEM segment held the highest market share in 2022, accounting for more than half of the global truck suspension system market. Similarly, the OEM segment is projected to manifest the highest CAGR of 4.4% during the forecast period of 2023-2032. This is due to stricter emission norms, there is increased trends toward fleet modernization and suspension replacement in trucks, as modern truck suspension systems are lightweight, more durable, and help in reducing fuel consumption as compared to the traditional suspension system, there is increased demand for suspension system from the OEMs.

➡️𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/truck-suspension-system-market/purchase-options

𝐓𝐡𝐞 𝐬𝐩𝐫𝐢𝐧𝐠 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

By type, the spring segment accounted for the largest share in 2022, contributing to more than one-third of the global truck suspension system market revenue. However, the air spring suspension is anticipated to show the highest CAGR of 4.8% during the forecast period 2023-2032.The demand for air spring suspension is growing due to its ability to provide smooth and constant ride quality. Moreover, air spring suspensions are increasingly being used in electric trucks, which is predicted to drive the demand further during the forecast period.

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟐

By region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global truck suspension system market revenue. Similarly, Asia-Pacific is expected to dominate the market in terms of CAGR during the forecast period. In recent years, the region has witnessed increased industrialization and economic growth, resulting in increased import/export activities, this created a rising demand for efficient logistics, thus creating growth opportunities for the truck suspension systems market.

For instance, 𝐎𝐧 𝐉𝐮𝐥𝐲 𝟓, 𝟐𝟎𝟐𝟑, Volta Trucks and ZF Friedrichshafen AG collaborated together to create the next wave of mobility and help the industry move toward zero emissions and zero accidents. ZF Friedrichshafen AG will be able to provide Volta Trucks with key parts like braking, suspension, and steering systems according to the agreement. This will help Volta Trucks cut down on R&D costs and speed up the time it takes to get products on the market.

➡️𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A12735

𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:

The report provides an in-depth analysis of the truck suspension system within the transportation industry.
Analysis of the truck suspension market spans from 2022 to 2032.
Recent developments are highlighted in the research study. Prominent companies in the industry are profiled in the research study.
The market analysis in the research study encompasses various segments and regions.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐒𝐮𝐬𝐩𝐞𝐧𝐬𝐢𝐨𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/air-suspension-market - Research Report 2023-2032

https://www.alliedmarketresearch.com/advanced-suspension-control-system-market-A08440 - Research Report 2023-2032

https://www.alliedmarketresearch.com/automotive-suspension-market - Research Report 2023-2032

https://www.alliedmarketresearch.com/automotive-monoshock-suspension-system-market-A13956 - Research Report 2023-2032

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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