Steering and Suspension Part Market Report: Trends, Forecast and Competitive Analysis to 2030

Steering and Suspension Part Market Report: Trends, Forecast and Competitive Analysis to 2030

Steering and Suspension Part Trends and Forecast

The future of the global steering and suspension part market looks promising with opportunities in the passenger car, commercial vehicle, off-road vehicle, and two-wheeler markets. The global steering and suspension part market is expected to grow with a CAGR of 8.7% from 2024 to 2030. The major drivers for this market are rising interest in high-end and powerful vehicles, growing consumer discretionary income in emerging economies, and developments in steering and suspension systems technology.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Steering and Suspension Part by Segment

The study includes a forecast for the global steering and suspension part by type, technology, application, and region.

Steering and Suspension Part Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Non-Independent Suspension
• Composite Rear Suspension
• Independent Suspension
• Semi-Independent Suspension

Steering and Suspension Part Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

• Hydraulic
• Air Suspension
• Electromagnetic

Steering and Suspension Part Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Passenger Car
• Commercial Vehicle
• Off-Road Vehicle
• Two-Wheeler
• Others

Steering and Suspension Part Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Steering and Suspension Part Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies steering and suspension part companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the steering and suspension part companies profiled in this report include-

• Arvinmeritor
• Cardone Industries
• Dana Holding
• Delphi
• Denso
• Federal-Mogul
• Fenwick Automotive Products
• JTEKT
• SKD Automotive
• Tenneco

Steering and Suspension Part Market Insights

Lucintel forecasts that hydraulic will remain the largest segment over the forecast period.

APAC will remain the largest region over the forecast period due to increasing demand in China, India, South Korea, Japan, and Taiwan for passenger automobiles and commercial vehicles, rapid urbanization and industrialization across the countries.

Features of the Global Steering and Suspension Part Market

Market Size Estimates: Steering and suspension part market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Steering and suspension part market size by type, technology, application, and region in terms of value ($B).

Regional Analysis: Steering and suspension part market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, technology, application, and regions for the steering and suspension part market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the steering and suspension part market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the steering and suspension part market size?

Answer: The global steering and suspension part market is expected to reach an estimated $XX billion by 2030.

Q2. What is the growth forecast for steering and suspension part market?

Answer: The global steering and suspension part market is expected to grow with a CAGR of 8.7% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the steering and suspension part market?

Answer: The major drivers for this market are rising interest in high-end and powerful vehicles, growing consumer discretionary income in emerging economies, and developments in steering and suspension systems technology.

Q4. What are the major segments for steering and suspension part market?

Answer: The future of the global steering and suspension part market looks promising with opportunities in the passenger car, commercial vehicle, off-road vehicle, and two-wheeler markets.

Q5. Who are the key steering and suspension part market companies?

Answer: Some of the key steering and suspension part companies are as follows:

• Arvinmeritor
• Cardone Industries
• Dana Holding
• Delphi
• Denso
• Federal-Mogul
• Fenwick Automotive Products
• JTEKT
• SKD Automotive
• Tenneco

Q6. Which steering and suspension part market segment will be the largest in future?

Answer: Lucintel forecasts that hydraulic will remain the largest segment over the forecast period.

Q7. In steering and suspension part market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to increasing demand in China, India, South Korea, Japan, and Taiwan for passenger automobiles and commercial vehicles, rapid urbanization and industrialization across the countries.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the steering and suspension part market by type (non-independent suspension, composite rear suspension, independent suspension, and semi-independent suspension), technology (hydraulic, air suspension, and electromagnetic), application (passenger car, commercial vehicle, off-road vehicle, two-wheeler, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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