Global Automotive Suspension Systems Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Automotive Suspension Systems Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Automotive Suspension Systemsisthe system of tires, tire air, springs, shock absorbers and linkages that connects a vehicle to its wheels and allows relative motion between the two. Suspension systems must support both road holding/handling and ride quality, which are at odds with each other.

Market Overview:


The latest research study on the global Automotive Suspension Systems market finds that the global Automotive Suspension Systems market reached a value of USD 54866.28 million in 2022. It’s expected that the market will achieve USD 71971.41 million by 2028, exhibiting a CAGR of 4.63% during the forecast period.

The growth of the Automotive Suspension Systems market is largely driven by downstream consumptions. In developing countries, with the development of economy, the improvement of living standards, poor road/highway infrastructure, large population base, a large amount of middle class is rising. People's pursuit of more convenient, higher level of life will promote the consumption of automobiles. What is more, the technology advance, the entrance of international large enterprises, the growth of local businesses, will also promote the sale of automotive suspension systems. In developed countries have a good awareness of high standard life culture, have good power and habits of consumption of automobiles. Besides, with the economic recovery, technology innovation, the fierce competition. However, Strict emission norms and fuel efficiency standards imposed by government will be the limiting factor of this industry.

Limitations

Manufacturers are required to invest largely in creation of advanced exhaust systems to meet strict government norms. Strict emission norms and fuel efficiency standards imposed by government in different regions have forced manufacturers to look for different solutions to achieve the same.
Although the overall automotive suspension market is growing significantly, challenges such as lack of standardization and high prices of independent suspension systems is hindering the growth for automotive suspensions systems market.

Opportunities

Market opportunities existed in the industry integration and regional migration process, in addition, growing market in emerging countries, the development of consumer groups, technological innovation, product upgrading are also bringing new opportunities for this market.
In developed countries, consumers have good innovation gene and consumer habit to promote automobile industry, which is fueling the demand for cheap, light in weight and economical automotive suspension systems.

Region Overview:


Europe had the highest growth rate of all regions

Company Overview:


ZF Friedrichshafen (TRW), Thyssenkrupp, Benteler, Schaeffler AG and Continental are the five key players in the global Automotive Suspension Systems market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Automotive Suspension Systems market in the past 5 years.

Segmentation Overview:


Among different product types, Passive Suspensions Systems segment is anticipated to contribute the largest market share in 2027.

Application Overview:


The market's largest segment by application is the segment Heavy Commercial Vehicle (HCV), with a market share of 22.46% in 2022.

Key Companies in the global Automotive Suspension Systems market covered in Chapter 3:

Schaeffler AG
Tenneco
Mando
Magneti Marelli S.P.A
Benteler
Wabco Holdings
Thyssenkrupp
Sogefi SpA
KYB
Metaldyne (AAM)
ZF Friedrichshafen (TRW)
Tower International
BWI Group
NHK Spring
Continental

In Chapter 4 and Chapter 14.2, on the basis of types, the Automotive Suspension Systems market from 2018 to 2029 is primarily split into:

Passive Suspensions Systems
Semi-Active/Active Suspensions Systems
Active Suspensions Systems Overview

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Automotive Suspension Systems market from 2018 to 2029 covers:

Heavy Commercial Vehicle (HCV)
Light Commercial Vehicle (LCV)
Passenger Vehicle

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)