Strut Mounts Market Assessment, By Type [Active Suspension System, Independent Suspension System] and By Application [Passenger Vehicle, Commercial Vehicle], By Region, Opportunities and Forecast, 2017-2031F

Strut Mounts Market Assessment, By Type [Active Suspension System, Independent Suspension System] and By Application [Passenger Vehicle, Commercial Vehicle], By Region, Opportunities and Forecast, 2017-2031F

Global strut mounts market is projected to witness a CAGR of 4.37% during the forecast period 2024-2031, growing from USD 2.56 billion in 2023 to USD 3.6 billion in 2031. The market has experienced significant growth in recent years and is expected to maintain a strong pace of expansion in the coming years.

Strut mounts are components in vehicle suspension systems that connect the strut assembly to the vehicle's chassis. They act as a padding and backing component, diminishing vibrations and engrossing shocks from the street surface. Strut mounts assist with keeping up with appropriate arrangement and soundness, improving ride solace and taking care of the overall suspension system. These mounts likewise add to sound decrease by separating vibrations and keeping them from moving to the vehicle's lodge. Appropriate upkeep of strut mounts is fundamental for guaranteeing ideal suspension execution and well-being.

Technological advancements in suspension systems are the primary driver of the robust growth observed in the strut mounts market. These advancements include adaptive damping, electronic controls, and lightweight materials, all of which depend on exact and solid mounting arrangements. As suspension frameworks become more modern, the requirement for hearty and versatile strut mounts strengthens, driving development on the lookout. Makers are constantly enhancing to fulfill the needs of present-day vehicle plans and customer inclinations.

Furthermore, the development of independent driving advances is affecting suspension configuration, requiring strut mounts equipped for supporting the complicated sensor clusters and registering frameworks. As vehicles progress towards charge, the interest in productive and minimized suspension arrangements increases, driving innovative work in strut mount innovation. Besides, supportability concerns are driving the reception of eco-accommodating materials and assembling processes in strut mount creation, lining up with more extensive industry patterns. In conclusion, technological advancements in suspension systems are not only shaping the strut mounts market but also contributing to the evolution of automotive engineering.

For instance, in August 2021, MEYLE introduced a new MEYLE-HD strut mount for VW T5 and T6 vans, enabling independent workshops to offer repairs with an all-in-one kit. The kit includes rolling bearings, forged spring plates, and strut mounts, promising durability surpassing OE equivalents for both models. Technical enhancements ensure longevity, providing a reliable solution for strut mount replacements.

Automotive Industry Trends and Innovations Drive Market Growth

Innovations in automotive design, such as lightweight materials and high-level suspension frameworks, request better execution strut mounts for ideal vehicle execution. Patterns toward electric and independent vehicles require strut mounts that can oblige different driving elements and weight circulations. Also, progressions in assembling advances include creating stronger and more effective strut mount plans to meet the developing necessities of the vehicle business. These variables drive the development and advancement inside the strut mounts market to stay up with the powerful auto scene.

For example, in March 2024, hydraulic suspension bushings, designed for smoother, quieter, and better-handling vehicles, utilize fluid-filled voids to act as hydraulic dampers, effectively isolating noise, vibration, and harshness from the vehicle cabin. Developed to meet modern automotive demands, these sophisticated components redefine suspension systems, offering enhanced performance and durability.

Performance Requirements for Off-road Vehicles to Fuel Market Demand

Strut mounts made specifically to endure rough terrain and harsh weather are necessary to meet the performance criteria of off-road vehicles, which include durability, stability, and shock absorption. Innovative off-road vehicle design features like articulated suspension and more ground clearance are needed for sophisticated strut mount solutions to provide maximum performance and safety. In response to off-road driving requirements, manufacturers are creating stronger and adjustable strut mounts, fueling the market growth.

For example, in June 2023, FAI Automotive provided best-practice advice for fitting its expanding range of strut mounts, emphasizing the importance of replacing left- and right-hand components in pairs for optimal vehicle balance and control. By offering durable strut mounts for over 20,000 applications, FAI ensures reliable repairs and improved ride control, catering to 85% of the modern vehicle parc.

Shift Towards Sustainable Manufacturing Practices

The shift towards sustainable manufacturing practices drives the strut mounts market by promoting eco-friendly materials and processes. Customers progressively value items with diminished ecological effects, pushing makers to adopt greener practices. This shift is boosting advancement in materials and production methods inside the strut mounts industry. Organizations embracing supportability gain an upper hand while contributing to a more ecologically conscious market.

For example, in April 2024, businesses are increasingly adopting sustainable manufacturing practices, driven by the recognition that they promote environmental conservation, economic growth, and innovation, as demonstrated by industry giants like BMW. Sustainable manufacturing reduces production expenses through optimized resource consumption, waste reduction, and energy efficiency while attracting investment and unlocking new markets for eco-friendly products, exemplified by BMW's comprehensive approach to sustainability in automotive manufacturing.

Strategic Collaboration and Partnership Among Major Market Players Drive the Market

Major industry players in the strut mounts sector work together strategically to promote innovation, improve product quality, broaden their market reach, and maximize supply chain efficiency, all of which contribute to the overall success of the industry. These partnerships expedite technology development, foster synergies, and seize new possibilities by combining resources, knowledge, and networks. The result is a competitive edge and long-term market leadership.

For instance, in November 2023, ROWEKO partnered with EMKA, integrating their locking solutions into ROWEKO products, representing 60% of annual revenue. EMKA's safety quarter turns, renowned for shock and vibration resistance through strut mounts, are pivotal in ROWEKO's safety applications, ensuring top quality and reliable delivery. This enduring partnership underscores ROWEKO's commitment to delivering sturdy plastic containers with secure locking solutions for various industries, backed by EMKA's trusted expertise.

North America Dominates the Global Strut Mounts Market

North America commands the strut mounts market, leading production and consumption. The district rules this section with a powerful auto area and the popularity of reseller's exchange parts. Factors like mechanical headways and rigid well-being guidelines further support North America's fortification in the strut mounts market. This predominance will continue soon, determined by continuous development and market elements.

Future Market Scenario (2024-2031F)

Environmental restrictions will impact product development, resulting in the use of eco-friendly materials and sustainable manufacturing techniques to produce strut mounts.

The need for automobiles will rise globally due to growing urbanization and infrastructure development, supporting the global strut mounts market's expansion across various geographic locations.

Growing customer concern for the comfort and safety of their vehicles will increase demand for high-end strut mount solutions, causing a change in the market toward value-added goods and customizability.

Future technological developments will drive the market for strut mounts, emphasizing lightweight materials and improved durability to fulfill changing automotive demands.

Demand will be shaped by increased vehicle electrification and automation, which will require strut mount designs that can integrate cutting-edge technology while upholding safety and performance requirements.

Key Players Landscape and Outlook

Key participants in the global strut mounts market include ZF, Bilstein, Benteler, Freudenberg, ContiTech (Continental AG), Showa, KYB, Dorman, Tenneco, and Cooper-Standard. Companies focus on the material, design, and new technologies to improve the placement and absorption to deliver smooth rides to end users. Strut mount manufacturers are concerned with supply chain resilience, energy efficiency, and environmental practices, which will likely define the industry's future. Collaborations and developing technologies are projected to increase competition in this fast-paced market.

For instance, in 2023, ContiTech (Continental AG), a company that develops technologies to address Noise, Vibration, and Harshness (NVH) in electric vehicles, will offer strut mounts for a wide range of vehicles globally. The focus on lighter materials, dynamic systems, and NVH reduction suggests that the company is likely innovating in the strut mount market to meet the demands of electric vehicles.