Automotive Suspension System Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Automotive Suspension System Market
The automotive suspension system market size was valued at USD 45.45 billion in 2023, and the market is now projected to grow from USD 47.25 billion in 2024 to USD 107.12 billion by 2035, exhibiting a CAGR of 7.7% during the forecast period of 2024-2035.
The COVID-19 pandemic created significant opportunities on the automotive suspension system market growth as curbing coronavirus outbreak was prioritized. The COVID-19 pandemic affected the market, causing disruption in delivery chains and leading to shortages of raw materials and additives. Manufacturers witnessed expanded production prices because of the accelerated cost of substances and working while following the safety protocols issued for the prevention of the outbreak of COVID.
The automotive suspension system market share globally has been contributed due to the surge in demand for electric & autonomous vehicles. Electric vehicles typically have a lower center of gravity than motors with inner combustion engines. This leads to improved handling and balance, which results in a multiplied call for advanced suspension systems, which could further enhance the dealing with and performance of EVs.
Furthermore, there’s been a notable trend of use of advanced lightweight material. One of the marketplace traits of car suspension devices is the multiplied use of superior materials, including carbon fiber and aluminum, to reduce the weight of the suspension and increase its efficiency.
Comprehensive Analysis of Automotive Suspension System Market
The automotive suspension system market and automotives industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the automotives industry. These segmentations are methodically segregated by types of system, component, suspension, and vehicle. The system types include, Passive System, Active System, and Semi-active System. However, the suspension is such as Hydraulic Suspension, Air Suspension, and Leaf Spring.
The North American region is conducive to the global automotive suspension system market, leading to a recall of USD 45.45 billion owing to increased production rate of vehicles. The local growth is attributed to the multiplied production rate of cars that came about as part of the restoration from the pandemic in this region. Major key players in regions are focusing on developing progressive technology further to strengthen the fashion of electrification in the car enterprise.
The top players in the market play a crucial role in the automotives industry assuring industrial prospectus growth and setting market standards. These players include, KYB Corporation (Japan), Continental AG (Germany), ThyssenKrupp AG (Germany), NHK Springs Co., Ltd. (Japan), Benteler International AG (Germany), Tenneco Inc. (U.S.), HL Mando Corp. (South Korea), ZF Friedrichshafen AG (Germany), Sogefi Group (Italy), and Marelli Corporation (Japan) these market players provide a level-playing competitive landscape.
In August 2022, Vibracoustic developed a powerful ride peak and suspension leveling gadget. The device can permit vehicle manufacturers to revel in the height-leveling advantages of an air suspension with less complexity and price. Air suspensions are useful for electric-powered automobiles, and growing a brand new gadget can help lessen the value of electrical cars. The device additionally increases the efficiency of electrical vehicles, allowing them to use a smaller battery and maintain the same range.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2035
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2035
Historical Period 2019-2022
Growth Rate CAGR of 7.7% from 2024 to 2035
Unit Value (USD Billion)
Segmentation By System
Passive System
Active System
Semi-active System
By Component
Shock Dampener
Struts
Control Arm
Ball Joint
Air Compressors
Others
By Suspension Type
Hydraulic Suspension
Air Suspension
Leaf Spring
By Vehicle Type
Passenger Cars
Others
By Region
North America (By Suspension System, Component, Suspension Type, and Vehicle Type)
- U.S. (By Vehicle Type)
- Canada (By Vehicle Type)
- Mexico (By Vehicle Type)
Europe (By Suspension System, Component, Suspension Type, and Vehicle Type)
- Germany (By Vehicle Type)
- France (By Vehicle Type)
- U.K. (By Vehicle Type)
- Rest of Europe (By Vehicle Type)
Asia Pacific (By Suspension System, Component, Suspension Type, and Vehicle Type)
- China (By Vehicle Type)
- India (By Vehicle Type)
- Japan (By Vehicle Type)
- South Korea (By Vehicle Type)
- Rest of APAC(By Vehicle Type)
Rest of the World (By Suspension System, Component, Suspension Type, and Vehicle Type)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Technological Advancements in Blood Group Typing Techniques
- 4.2. Number of Blood Donations, For Key Countries
- 4.3. Number of Blood Transfusions, For Key Countries/ Region
- 4.4. Key Industry Developments: Mergers, Partnership, Acquisitions
- 4.5. Brief Overview of Other Companies Operating in HLA Typing Products
- 4.6. Pricing Analysis of HLA Typing Products
- 4.7. Impact of COVID-19 on Blood Group Typing Market
- 5. Global Blood Group Typing Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Market Analysis, Insights and Forecast – By Product
- 5.1.1. Instruments
- 5.1.2. Reagents & Kits
- 5.2. Market Analysis, Insights and Forecast – By Test Type
- 5.2.1. ABO Tests
- 5.2.2. Antigen Typing
- 5.2.3. Antibody Screening
- 5.2.4. Cross-matching Tests
- 5.2.5. HLA Typing
- 5.3. Market Analysis, Insights and Forecast – By Techniques
- 5.3.1. Serology Tests
- 5.3.2. Molecular Tests
- 5.4. Market Analysis, Insights and Forecast – By End-user
- 5.4.1. Hospital-based Laboratories
- 5.4.2. Independent Laboratories & Blood Banks
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America
- 5.5.5. Middle East & Africa
- 6. North America Blood Group Typing Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast – By Product
- 6.1.1. Instruments
- 6.1.2. Reagents & Kits
- 6.2. Market Analysis, Insights and Forecast – By Test Type
- 6.2.1. ABO Tests
- 6.2.2. Antigen Typing
- 6.2.3. Antibody Screening
- 6.2.4. Cross-matching Tests
- 6.2.5. HLA Typing
- 6.3. Market Analysis, Insights and Forecast – By Techniques
- 6.3.1. Serology Tests
- 6.3.2. Molecular Tests
- 6.4. Market Analysis, Insights and Forecast – By End-user
- 6.4.1. Hospital-based Laboratories
- 6.4.2. Independent Laboratories & Blood Banks
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
- 7. Europe Blood Group Typing Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast – By Product
- 7.1.1. Instruments
- 7.1.2. Reagents & Kits
- 7.2. Market Analysis, Insights and Forecast – By Test Type
- 7.2.1. ABO Tests
- 7.2.2. Antigen Typing
- 7.2.3. Antibody Screening
- 7.2.4. Cross-matching Tests
- 7.2.5. HLA Typing
- 7.3. Market Analysis, Insights and Forecast – By Techniques
- 7.3.1. Serology Tests
- 7.3.2. Molecular Tests
- 7.4. Market Analysis, Insights and Forecast – By End-user
- 7.4.1. Hospital-based Laboratories
- 7.4.2. Independent Laboratories & Blood Banks
- 7.5. Market Analysis, Insights and Forecast – By Country/Sub-region
- 7.5.1. U.K.
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Spain
- 7.5.5. Italy
- 7.5.6. Scandinavia
- 7.5.7. Rest of Europe
- 8. Asia Pacific Blood Group Typing Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast – By Product
- 8.1.1. Instruments
- 8.1.2. Reagents & Kits
- 8.2. Market Analysis, Insights and Forecast – By Test Type
- 8.2.1. ABO Tests
- 8.2.2. Antigen Typing
- 8.2.3. Antibody Screening
- 8.2.4. Cross-matching Tests
- 8.2.5. HLA Typing
- 8.3. Market Analysis, Insights and Forecast – By Techniques
- 8.3.1. Serology Tests
- 8.3.2. Molecular Tests
- 8.4. Market Analysis, Insights and Forecast – By End-user
- 8.4.1. Hospital-based Laboratories
- 8.4.2. Independent Laboratories & Blood Banks
- 8.5. Market Analysis, Insights and Forecast – By Country/Sub-region
- 8.5.1. Japan
- 8.5.2. China
- 8.5.3. India
- 8.5.4. Australia
- 8.5.5. Southeast Asia
- 8.5.6. Rest of Asia Pacific
- 9. Latin America Blood Group Typing Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast – By Product
- 9.1.1. Instruments
- 9.1.2. Reagents & Kits
- 9.2. Market Analysis, Insights and Forecast – By Test Type
- 9.2.1. ABO Tests
- 9.2.2. Antigen Typing
- 9.2.3. Antibody Screening
- 9.2.4. Cross-matching Tests
- 9.2.5. HLA Typing
- 9.3. Market Analysis, Insights and Forecast – By Techniques
- 9.3.1. Serology Tests
- 9.3.2. Molecular Tests
- 9.4. Market Analysis, Insights and Forecast – By End-user
- 9.4.1. Hospital-based Laboratories
- 9.4.2. Independent Laboratories & Blood Banks
- 9.5. Market Analysis, Insights and Forecast – By Country/Sub-region
- 9.5.1. Brazil
- 9.5.2. Mexico
- 9.5.3. Rest of Latin America
- 10. Middle East & Africa Blood Group Typing Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Market Analysis, Insights and Forecast – By Product
- 10.1.1. Instruments
- 10.1.2. Reagents & Kits
- 10.2. Market Analysis, Insights and Forecast – By Test Type
- 10.2.1. ABO Tests
- 10.2.2. Antigen Typing
- 10.2.3. Antibody Screening
- 10.2.4. Cross-matching Tests
- 10.2.5. HLA Typing
- 10.3. Market Analysis, Insights and Forecast – By Techniques
- 10.3.1. Serology Tests
- 10.3.2. Molecular Tests
- 10.4. Market Analysis, Insights and Forecast – By End-user
- 10.4.1. Hospital-based Laboratories
- 10.4.2. Independent Laboratories & Blood Banks
- 10.5. Market Analysis, Insights and Forecast – By Country/Sub-region
- 10.5.1. GCC
- 10.5.2. South Africa
- 10.5.3. Rest of Middle East & Africa
- 11. Competitive Analysis
- 11.1. Global Market Share Analysis (2023)
- 11.2. Company Profiles
- 11.2.1. Quotient Limited
- 11.2.1.1. Overview
- 11.2.1.2. Products & Services
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Strategies
- 11.2.1.6. Financials (Based on Availability)
- 11.2.2. CareDx Inc.
- 11.2.2.1. Overview
- 11.2.2.2. Products & Services
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Strategies
- 11.2.2.6. Financials (Based on Availability)
- 11.2.3. Agena Bioscience, Inc. (Mesa Laboratories, Inc.)
- 11.2.3.1. Overview
- 11.2.3.2. Products & Services
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Strategies
- 11.2.3.6. Financials (Based on Availability)
- 11.2.4. DIAGAST
- 11.2.4.1. Overview
- 11.2.4.2. Products & Services
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Strategies
- 11.2.4.6. Financials (Based on Availability)
- 11.2.5. Illumina, Inc.
- 11.2.5.1. Overview
- 11.2.5.2. Products & Services
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Strategies
- 11.2.5.6. Financials (Based on Availability)
- 11.2.6. Grifols, S.A.
- 11.2.6.1. Overview
- 11.2.6.2. Products & Services
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Strategies
- 11.2.6.6. Financials (Based on Availability)
- 11.2.7. Immucor, Inc.
- 11.2.7.1. Overview
- 11.2.7.2. Products & Services
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Strategies
- 11.2.7.6. Financials (Based on Availability)
- 11.2.8. Bio-Rad Laboratories, Inc.
- 11.2.8.1. Overview
- 11.2.8.2. Products & Services
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Strategies
- 11.2.8.6. Financials (Based on Availability)
- 11.2.9. Thermo Fisher Scientific Inc.
- 11.2.9.1. Overview
- 11.2.9.2. Products & Services
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Strategies
- 11.2.9.6. Financials (Based on Availability)
- 11.2.10. Merck KGaA
- 11.2.10.1. Overview
- 11.2.10.2. Products & Services
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Strategies
- 11.2.10.6. Financials (Based on Availability)
- 11.2.11. QIAGEN
- 11.2.11.1. Overview
- 11.2.11.2. Products & Services
- 11.2.11.3. SWOT Analysis
- 11.2.11.4. Recent Developments
- 11.2.11.5. Strategies
- 11.2.11.6. Financials (Based on Availability)
- 11.2.12. Beckman Coulter, Inc. (Danaher)
- 11.2.12.1. Overview
- 11.2.12.2. Products & Services
- 11.2.12.3. SWOT Analysis
- 11.2.12.4. Recent Developments
- 11.2.12.5. Strategies
- 11.2.12.6. Financials (Based on Availability)
- 11.2.13. QuidelOrtho Corporation
- 11.2.13.1. Overview
- 11.2.13.2. Products & Services
- 11.2.13.3. SWOT Analysis
- 11.2.13.4. Recent Developments
- 11.2.13.5. Strategies
- 11.2.13.6. Financials (Based on Availability)
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