Automotive Suspension Market Size to Grow Exponentially during the Assessment Period 2025
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The major types of automotive suspension are active, passive and semi-active suspension systems. Active suspension systems controls the vertical movement of wheels in a vehicle relative to the vehicle’s body or chassis with the help of an onboard system. In passive suspension systems, the movement of vehicle is determined by the road surface. Active suspensions are of two types such as pure active suspensions and semi-active suspensions. Active suspensions use actuator to lower and raise chassis independently at each of the wheels. In semi-active suspensions the shock absorber firmness vary as per the dynamic road conditions. Such suspension systems allow automotive manufacturers to achieve greater car handling and ride quality by ensuring the tires are perpendicular to the road in all corners; thereby allowing better control and traction in the vehicle. An onboard computer system detects the movement of vehicle via sensors present in the entire vehicle. The data is calculated by the onboard system by control techniques, which helps it control the action of active and semi-active suspensions. The computer system eliminates pitch variation and body roll in driving situations such as braking, cornering and accelerating.
The automotive suspension market can be classified by type, by component, by application and by geography. The type segment can be classified into passive systems, semi-active systems and active systems. By component, the market can be bifurcated into air compressor, ball joint, spring, shock dampener and others. By application, the market can be segregated as passenger vehicles, light commercial vehicles and heavy commercial vehicles. By geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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Demand for light weight automotive suspensions with increasing production of vehicles and growth in the automotive sector across the major countries of the world is propelling the growth of global automotive suspension market. In addition, economic reforms in the Asia Pacific and Europe and rising private equity investments in automotive suspension manufacturing companies across the world is set to influence the growth of this market positively. Moreover, increasing downsizing of engine and demand for higher comfort and luxury in vehicles are set to bolster the growth of light weight and advanced automotive suspensions globally. In terms of market revenue share, Asia Pacific is expected to hold the largest share by the end of forecast period followed by North America, Europe, Latin America and, Middle East and Africa.
The report also provides company market share analysis of the various industry participants. Acquisition is the main strategy being widely followed by leading market players. In case of an acquisition, the acquirer takes advantage of existing synergies. As a result, both companies are expected to emerge more profitable and stronger than before. Key players in the global automotive suspension market have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: ThyssenKrupp AG, ZF Friedrichshafen AG, Benteler International AG, KYB Corporation, Magneti Marelli S.P.A., Tenneco Inc, NHK Springs Co., Ltd. Mubea Fahrwerksfedern GmbH, Rassini and Mando Corp. among others.
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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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