Impact Of Poor Road Quality On The Growth Of Motor Vehicle Steering And Suspension Components Market: Strengthening the Growth Trajectory of the Motor Vehicle Steering and Suspension Components Market

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

What Will the Motor Vehicle Steering and Suspension Components Industry Market Size Be by 2025?
The market size of motor vehicle steering and suspension components has seen robust growth in the recent past. The market is projected to expand from $108.3 billion in 2024 to $118.54 billion in 2025, indicating a compound annual growth rate (CAGR) of 9.5%. The growth during the historic period is a result of improved manufacturing processes, increase in vehicle customization, preference for SUVs and trucks over other vehicles, innovations in steering mechanisms, and advancements in shock absorbers.

What's the Long-Term Growth Forecast for the Motor Vehicle Steering and Suspension Components Market Size Through 2029?
The market size for motor vehicle steering and suspension components is anticipated to witness robust expansion in the coming years. The market is projected to reach $164.97 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.6%. Factors contributing to this growth during the forecast period include an expanding aftermarket, increased global market penetration, environmental regulations, and a growing demand for vehicle comfort, along with active and adaptive suspension systems. Key trends anticipated during this forecast period include innovations in manufacturing processes, the rise of electric and autonomous vehicles, the incorporation of advanced materials, and improved safety standards, coupled with adaptive suspension systems.

View the full report here:
https://www.thebusinessresearchcompany.com/report/motor-vehicle-steering-and-suspension-components-global-market-report

What Are the Key Growth Drivers Fueling the Motor Vehicle Steering and Suspension Components Market Expansion?
The deterioration in the condition of roads actively stimulates the growth of the motor vehicle steering and suspension components market. These components are essential in preserving a vehicle's stability on coarse roads. Poor road conditions, marked by potholes and improper surfaces, lead to increased usage and wear of steering and suspension components, thereby raising the possibility of accidents. This continual degradation reduces the functioning lifespan of these components, pushing up the frequency of their replacement. Data from World Highways reveals that India possesses the second largest road network, next to the United States. Yet, an alarming aspect lies in the poor conditions of these roads. An estimated 30 percent of the population finds it difficult to access all wealth due to this. The absence of proper road maintenance standards, which result in the persistence of rough, pothole-filled roads, amplifies the demand in the motor vehicle steering and suspension components market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2773&type=smp

What Are the Key Trends Driving Motor Vehicle Steering and Suspension Components Market Growth?
The most recent development in the industry is the creation of suspension systems utilizing the novel magnetic ride control (MRC or MagneRide) technology, formulated by General Motors (GM). The magnetic damper technology enhances the efficacy of the suspension system, ensuring a seamless driving encounter. This technology employs a fluid filled with magnetized particles that function as electronically-regulated shock absorbers, instantly responding to shifts in driving circumstances and velocity. These shock absorbers adjust themselves in accordance with the variable terrain. Incorporated with the automobile sensors, they react to the terrain every five milliseconds.

How Is the Motor Vehicle Steering and Suspension Components Market Segmented?
The motor vehicle steering and suspension components market covered in this report is segmented -

1) By Type: Steering Components, Suspension Components
2) By Application: Commercial Vehicle, Passenger Car
3) By End Use: OEM, After market

Subsegments:
1) By Steering Components: Steering Gearboxes, Steering Columns, Power Steering Pumps, Tie Rods, Steering Knuckles
2) By Suspension Components: Control Arms, Shock Absorbers, Ball Joints, Stabilizer Bars, Bushings

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=2773&type=smp

Which Companies Are Leading the Charge in Motor Vehicle Steering and Suspension Components Market Innovation?
Major companies operating in the motor vehicle steering and suspension components market include Hyundai Motor Company, Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, Continental Automotive Systems Corporation, Thyssen Krupp AG, Magna International Inc., Aisin Group, Tenneco Inc., BENTELER International AG, Knorr-Bremse AG, Nsk Steering Systems America Inc., Hella KGaA Hueck & Co., Nexteer Automotive Group Ltd., Fox Factory Holding Corp., KYB Americas Corporation, YAMADA North America Inc., Asama Coldwater Manufacturing, Global Steering Systems LLC, Hutchinson Aerospace & Industry Inc., Maval Industries LLC, San-Ei Seiko America Inc., Showa Corporation, Atsco Remanufacturing Inc., Breed Corporation

Which Regions Are Leading the Global Motor Vehicle Steering and Suspension Components Market in Revenue?
Asia-Pacific was the largest region in the motor vehicle steering and suspension component market in 2024. Western Europe was the second largest market in global motor vehicle steering and suspension component market share. The regions covered in the motor vehicle steering and suspension components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=2773

This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.