Press release
Driving Forward: Automotive Suspension Market Set to Reach $53.36 Billion by 2030 at 3.3% CAGR
The Automotive Suspension Market was valued at USD 42.51 billion in 2023 and is projected to grow to nearly USD 53.36 billion by 2030, registering a steady CAGR of 3.3% during the forecast period. The market growth is driven by rising demand for advanced suspension systems, luxury vehicles, and improved ride quality worldwide.
๐๐๐ซ๐ค๐๐ญ ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ: ๐๐ซ๐๐ง๐๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก
1. Increasing Demand for Luxury and Comfort
Consumers prioritize luxury and comfort in vehicles, driving automakers to incorporate advanced suspension technologies like active suspension systems and adaptive dampers. This trend is prominent in SUVs and luxury car segments.
2. Technological Advancements
The integration of AI-powered active suspension systems, such as Hitachi's new solutions, enhances ride comfort and handling, further fueling market growth.
๐. ๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ
Asia Pacific leads the market with cost-efficient manufacturing hubs in China, Japan, and South Korea, along with rising disposable incomes and vehicle demand. Europe follows with a strong focus on innovation and replacement of older fleets.
๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ฎ๐ฌ๐ฉ๐๐ง๐ฌ๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ
๐๐๐ซ๐ ๐๐ซ๐ฌ, ๐๐๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง๐ฌ, ๐๐ง๐ ๐๐ง๐ง๐จ๐ฏ๐๐ญ๐ข๐จ๐ง๐ฌ:
ZF Friedrichshafen AG (April 2023): Opened a new R&D center in the US focusing on suspension and self-driving car technology.
Hitachi Ltd. (May 2023): Launched an AI-enabled active suspension system for enhanced handling.
LG Electronics Inc. (May 2023): Introduced LG My Car Alarm Service, integrating vehicle mobility with connected tech.
Continental AG (October 2022): Developed a connected infotainment box for enhanced in-car navigation and safety.
Thales (July 2022): Designed a seamless connectivity solution to improve vehicle maintenance and emergency response systems.
Regional Highlights
Asia Pacific: Dominates with a 34.6% market share in 2023. Rapid vehicle production, urbanization, and technological advancements bolster growth.
Europe: Holds a significant share, driven by a strong OEM presence and consumer demand for advanced handling systems.
North America: Fastest-growing region due to innovations like ZF Friedrichshafen AG's EasyTurn suspension, simplifying parking and enhancing mobility.
๐๐๐ญ ๐ ๐๐ฅ๐จ๐ฌ๐๐ซ ๐ฅ๐จ๐จ๐ค ๐๐ญ ๐ญ๐ก๐ ๐ ๐๐ฆ๐-๐๐ก๐๐ง๐ ๐ข๐ง๐ ๐ฉ๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐ ๐ฌ๐ฎ๐๐๐๐ฌ๐ฌ :https://www.maximizemarketresearch.com/contact-us/
๐๐จ๐๐จ๐ญ ๐๐จ๐๐ญ๐ฐ๐๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ซ๐ค๐๐ญ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง :
๐๐ฒ ๐๐ฒ๐ฌ๐ญ๐๐ฆ
Active
Passive
Semi-active
According to the system, in 2023, the automotive suspension market's largest market share is approximately 42.4%, held by the passive system segment. The segment is anticipated to keep its dominance until 2030 and increase at a compound annual growth rate (CAGR) of 3.3% over the projected period, per the MMR research. Its broader application in a variety of vehicles, including passenger automobiles and commercial vehicles, is what accounts for the passive system category. Because of their straightforward design and reduced maintenance requirements, passive systems are quite popular on the market and are therefore a desirable option for manufacturers.
๐๐ฒ ๐๐จ๐ฆ๐ฉ๐จ๐ง๐๐ง๐ญ
Air Compressor
Shock Dampener
Struts
Control Arm
Others
๐๐ฒ ๐๐ฎ๐ฌ๐ฉ๐๐ง๐ฌ๐ข๐จ๐ง ๐๐ฒ๐ฉ๐
Hydraulic Suspension
Air Suspension
Leaf Spring
The Leaf Spring held the biggest market share in the automotive suspension market in 2023, according to suspension type, and is predicted to continue to do so until 2030. Because of its affordability, longevity, and widespread use in a variety of vehicle types, including trucks, passenger cars, and containers, leaf springs dominate the automotive suspension market. Manufacturers and consumers like leaf springs because they provide robust support, efficiently absorb shocks, and need less upkeep. The performance and longevity of leaf springs have been improved by developments in material technology, securing their place as a top suspension part in the automobile sector.
๐๐ฒ ๐๐๐ก๐ข๐๐ฅ๐ ๐๐ฒ๐ฉ๐
Two-wheelers
Passenger Cars
Commercial Vehicles
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐๐๐ญ๐ ๐๐ง๐ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ฒ ๐ฏ๐ข๐๐ฐ๐ข๐ง๐ ๐ญ๐ก๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ @https://www.maximizemarketresearch.com/request-sample/169975/
๐๐๐๐ซ๐ง ๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ ๐ญ๐จ๐ฉ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐ ๐ข๐ง๐ง๐จ๐ฏ๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐ญ๐ก๐ ๐๐จ๐๐จ๐ญ ๐๐จ๐๐ญ๐ฐ๐๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ซ๐ค๐๐ญ :
North America:
1. Tenneco Inc. (U.S.)
2. Borgwarner Inc. (U.S.)
3. FOX Factory, Inc. (U.S)
4. Hendrickson USA LLC.
Europe:
1. ZF Friedrichshafen AG (Germany)
2. Continental AG (Germany)
3. Thyssenkrupp AG (Germany)
4. Sogefi S.P.A (Italy)
5. Bilstein Group ( Germany)
6. Magneti Marelli S.P.A. (Italy)
7. Benteler International AG (Austria)
Asia Pacific:
1. Marelli Corporation (Japan)
2. KYB Corporation (Japan)
3. NHK Spring (Japan)
4. HL Mando Corporation (South Korea)
5. Gabriel India Ltd. (Anand Group)
6. Showa Corporation ( Japan)
7. BWI Group (China)
๐๐๐ญ ๐๐ง๐ฌ๐ฐ๐๐ซ๐ฌ ๐ญ๐จ ๐๐ซ๐ข๐ญ๐ข๐๐๐ฅ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐ฌ๐ก๐๐ฉ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐๐จ๐ญ ๐๐จ๐๐ญ๐ฐ๐๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ซ๐ค๐๐ญ :
What is Automotive Suspension ?
What is the growth rate of the Automotive Suspension Market?
Which are the factors expected to drive the Automotive Suspension market growth?
What is the CAGR at which the Automotive Suspension market will grow during the forecast period?
What are the different segments of the Automotive Suspension Market?
Which is the fastest growing region in the Automotive Suspension market?
What growth strategies are the players considering to increase their presence in Automotive Suspension ?
What are the upcoming opportunities and trends for the Automotive Suspension Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Automotive Suspension Market?
Who are the leading companies and what are their portfolios in Automotive Suspension Market?
What segments are covered in the Automotive Suspension Market?
Who are the key players in the Automotive Suspension market?
๐๐๐ข๐ง ๐๐๐๐๐ฌ๐ฌ ๐ญ๐จ ๐ฏ๐๐ฅ๐ฎ๐๐๐ฅ๐ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐ญ๐ก๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ฅ๐ข๐ง๐ค @https://www.maximizemarketresearch.com/request-sample/169975/
๐๐๐ญ ๐ ๐๐ฅ๐จ๐ฌ๐๐ซ ๐ฅ๐จ๐จ๐ค ๐๐ญ ๐ญ๐ก๐ ๐ ๐๐ฆ๐-๐๐ก๐๐ง๐ ๐ข๐ง๐ ๐ฉ๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐ ๐ฌ๐ฎ๐๐๐๐ฌ๐ฌ :
Past Size and Competitive Landscape
โข Past Pricing and price curve by region
โข Size, Share, Size Forecast by different segment
โข Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
โข Segmentation A detailed analysis by segment with their sub-segments and Region
โข Competitive Landscape Profiles of selected key players by region from a strategic perspective
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๐๐๐๐๐ก ๐๐ฎ๐ญ ๐ญ๐จ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐จ๐ซ ๐๐ง-๐๐๐ฉ๐ญ๐ก ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ :
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