Global Automotive Suspension System Market Size study & Forecast, by Component Type (Coil Spring, Leaf Spring, Air Spring, Shock Absorber, Other Components), by Type (Passive Suspension, Semi-active Suspension, Active Suspension), by Vehicle Type (Passeng

Global Automotive Suspension System Market Size study & Forecast, by Component Type (Coil Spring, Leaf Spring, Air Spring, Shock Absorber, Other Components), by Type (Passive Suspension, Semi-active Suspension, Active Suspension), by Vehicle Type (Passenger Car, Commercial Vehicle) and Regional Analysis, 2023-2030

Global Automotive Suspension System Market is valued at approximately USD XXX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2023-2030. An automotive suspension system refers to the collection of components and parts that work together to provide a comfortable, stable, and safe ride for the occupants of a vehicle. The main function of a suspension system is to absorb shocks and vibrations that are created when the vehicle is in motion, thus ensuring that the tires maintain contact with the road surface. This not only enhances ride comfort but also improves handling and vehicle stability, particularly during cornering, braking, and acceleration. The key factors such as surge in demand for electric & autonomous vehicles and rising demand for SUVs are anticipated to create a lucrative demand for the market during the forecast period.

Moreover, the rising demand for electric and autonomous vehicles is one of the key factors that is supporting the growth of the Automotive Suspension System Market. Electric vehicles (EVs) and autonomous vehicles (AVs) require specialized suspension systems that are designed to support the weight of the batteries and other electrical components. In addition, these vehicles often have higher power requirements than traditional gasoline-powered vehicles, which can put additional strain on the suspension system. According to International Energy Agency (IEA), in 2020, the number of electric vehicles sold in the United States was 295000 and the number increased significantly and reached 631000 in 2021. As a result, the rising demand for EVs is anticipated to propel the market growth. Additionally, technological advancements in automotive suspension systems are anticipated to create a lucrative opportunity for the market. However, the high capital and suspension costs along with shortage of raw materials stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Automotive Suspension System Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rising vehicle demand in the region, growing demand for aftermarket high-performance suspension kits and rising disposable income. Europe is expected to grow significantly during the forecast period, owing to factors such as presence of key market players, growing demand for electric vehicles and connected cars is driving the need for advanced suspension systems, thus propelling this market in this region.

Major market players included in this report are:
KYB Corporation (Japan)
ZF Friedrichshafen AG (Germany)
ThyssenKrupp AG (Germany)
Tenneco Inc. (U.S.)
Continental AG (Germany)
NHK Springs Co., Ltd. (Japan)
Benteler International AG (Germany)
HL Mando Corp. (South Korea)
Sogefi Group (Italy)
Marelli Corporation (Japan)

Recent Developments in the Market:
April 2021, In the KADS application, an electronically controlled suspension system for snowmobiles, KYB Corporation announced its expansion. Core control and hydraulic technologies are integrated into the electronic suspension system. The upgraded system also has attitude control technology, which improves snowmobile vehicle handling.

Global Automotive Suspension System Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Component Type, Type, Vehicle Type, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Component Type:
Coil Spring
Leaf Spring
Air Spring
Shock Absorber
Other Components

By Type:
Passive Suspension
Semi-active Suspension
Active Suspension

By Vehicle Type:
Passenger Car
Commercial Vehicle

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
KYB Corporation (Japan)
ZF Friedrichshafen AG (Germany)
ThyssenKrupp AG (Germany)
Tenneco Inc. (U.S.)
Continental AG (Germany)
NHK Springs Co., Ltd. (Japan)
Benteler International AG (Germany)
HL Mando Corp. (South Korea)
Sogefi Group (Italy)
Marelli Corporation (Japan)

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