Trends, opportunities and forecast in automotive suspension market to 2023 by vehicle type (passenger car, light commercial vehicle, and heavy commercial vehicle), by system (passive suspension system, active suspension system, and semi- active suspension system), by damping type (hydraulic suspension, air suspension, leaf spring suspension, and others), end user (OEM and aftermarket), by material type (steel, composites, and others) and by region (North America, Europe, APAC, and ROW)
The future of the global automotive suspension market looks promising with opportunities in the passenger car, light commercial vehicle and heavy commercial vehicle segments. The global automotive suspension market is expected to reach an estimated $79.0 billion by 2023 and it is forecast to grow at a CAGR of 5.3% from 2018 to 2023. The major drivers of growth for this market are increasing vehicle production, increasing need for improved ride quality, and the growing demand for advanced safety and convenience systems.
Emerging trends, which have a direct impact on the dynamics of the automotive suspension industry, include the development of lightweight suspensions, the introduction of electronic suspension technology, and the introduction of energy recovery suspension systems.
Automotive Suspension Market Trends Automotive Suspension Market Forecast Growth Opportunities for the Global Automotive Suspension Market by Region
The study includes the automotive suspension market size and forecast for the global automotive suspension market through 2023, segmented by vehicle type, system type, damping type, end user, material type, and region, as follows:
Automotive Suspension Market by Vehicle Type ($ Billion from 2012 to 2023) Passenger Car Small Car Compact Car Mid-Size Car Large Car Light Commercial Vehicle SUVs &Crossovers MPVs Pickups Heavy Commercial Vehicle
Automotive Suspension Market by System ($ Billion from 2012 to 2023) Passive Suspension System Active Suspension System Semi-Active Suspension System
Automotive Suspension Market by Damping Type ($ Billion from 2012 to 2023) Hydraulic Suspension Air Suspension Leaf Spring Suspension Others
Automotive Suspension Market by End User ($ Billion from 2012 to 2023) OEM Aftermarket
Automotive Suspension Market by Material Type ($ Billion 2017) Steel Composites Others
Automotive Suspension Market by Region ($ Billion and Million Units from 2011 to 2023) North America Europe Asia Pacific The Rest of the World Some of the automotive suspension companies profiled in this report include Benteler International, Tenneco Inc., ZF Friedrichshafen AG, KYB Corporation, and Magneti Marelli S.p. A and others.
On the basis of its comprehensive research, The analyst forecasts that the passenger car segment will show above average growth during the forecast period.
By system, passive suspension system, active suspension system, and semi-active suspension system are the major segments of the automotive suspension market. Passive suspension system is the largest segment but active suspension system is expected to grow faster as it works by constantly sensing changes in the road surface and feeding the information through ECU to the outlying components. Thus these components help in adjusting shock stiffness and spring rates thereby improving ride comfort, which results in increasing safety and comfort of the passengers.
APAC is expected to remain the largest region and register the highest growth rate due to higher vehicle production, increasing government regulations for safety and security, and consumer demand for improved suspensions during the forecast period.
Some of the features of “Automotive Suspension Market Report: Trends, Forecast and Competitive Analysis” include: Market size estimates: Global automotive suspension market size estimation in terms of value ($B) shipment. Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by segments and region. Segmentation analysis: Global automotive suspension market size by various applications such as vehicle, system, damping, end user, and material in terms of value and volume shipment. Regional analysis: Global automotive suspension market breakdown by North America, Europe, Asia Pacific, and the Rest of the World. Growth opportunities: Analysis on growth opportunities in different applications and regions of automotive suspension in the global automotive suspension market. Strategic analysis: This includes M&A, new product development, and competitive landscape of automotive suspension in the global automotive suspension market. Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers the following 11 key questions: Q.1. What are some of the most promising, high-growth opportunities for the automotive suspension market by vehicle type (passenger car, light commercial vehicle, and heavy commercial vehicle), by system (passive suspension system, active suspension system, and semi- active suspension system), by damping type (hydraulic suspension, air suspension, leaf spring suspension, and others), end user (OEM and aftermarket), by material type (steel, composites, and others) and by 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 automotive suspension market? Q.5. What are the business risks and competitive threats in this automotive suspension market? Q.6. What are the emerging trends in this automotive suspension market and the reasons behind them? Q.7. What are some of the changing demands of customers in the automotive suspension market? Q.8. What are the new developments in the automotive suspension market? Which companies are leading these developments? Q.9. Who are the major players in this automotive suspension market? What strategic initiatives are key players pursuing for business growth? Q.10. What are some of the competing products in this automotive suspension 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 automotive suspension industry?
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