South Korea Automotive Suspension Market Growth, Size, Trends Analysis– By System, By Suspension Type, By Component, By Vehicle Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

South Korea Automotive Suspension Market Growth, Size, Trends Analysis– By System, By Suspension Type, By Component, By Vehicle Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

South Korea Automotive Suspension Market Introduction and Overview

According to SPER Market Research, ‘South Korea Automotive Suspension Market Size –By System, By Suspension Type, By Component, By Vehicle Type – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the South Korea Automotive Suspension Market is estimated to reach USD XX billion by 2033 with a CAGR of 3.55%.

Automotive suspension consists of springs, shock absorbers, struts, control arms, and ball joints that connect the vehicle to the wheel, allowing relative motion between the two. The geometry and system for designing suspension are determined by wheel camber, hub castor, vehicle toe, and control arm king pin inclination. Suspensions aid to keep the vehicle’s tires in contact with the road while driving, lowering shocks and preserving the vehicle and its cargo from damage or wear.

The COVID-19 pandemic disrupted supply chains and resulted in shortages of raw materials and components, which had an impact on the market. Businesses’ manufacturing costs went up as a result of operating under safety regulations meant to avert a coronavirus outbreak and the rising cost of supplies. To increase sales, major corporations switched to expanding e-commerce platforms and concentrated on creating suspension systems for electric and hybrid cars.

Scope of the Report:

Report Metric Details
Market size available for years 2020-2033
Base year considered 2023

Forecast period 2024-2033

Segments covered By System, By Suspension Type, By Component, By Vehicle Type.

Regions covered Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region).

Companies Covered Mando Corp, HYUNDAI TRANSYS Inc, Hyundai Mobis Co., Ltd, ZF Friedrichshafen AG, Continental AG, ThyssenKrupp AG, Marelli Holdings Co., Ltd, Benteler International AG.

South Korea Automotive Suspension Market Segmentation:

By System: Based on the System, South Korea Automotive Suspension Market is segmented as; Passive System, Semi-Active/Active System.

By Suspension Type: Based on the Suspension Type, South Korea Automotive Suspension Market is segmented as; Hydraulic Suspension, Air Suspension.

By Component: Based on the Component, South Korea Automotive Suspension Market is segmented as; Spring, Shock Dampener, Air compressor, Struts, Others.

By Vehicle Type: Based on the Vehicle Type, South Korea Automotive Suspension Market is segmented as; Passenger Vehicle, Two-Wheeler, Commercial Vehicle, Others.