Automotive Suspension Market
Automotive Suspension Market Forecasts to 2028 – Global Analysis By Technology (Advanced, Conventional), Electric Vehicle (ICE, FCEV, HEV), Application (Electric, Commercial), Channel (OEM, Aftermarket) and By Geography
According to Stratistics MRC, the Global Automotive Suspension Market is accounted for $57.21 billion in 2020 and is expected to reach $87.80 billion by 2028 growing at a CAGR of 5.5% during the forecast period. Technological advancements, rise in production of vehicles, and increase in demand for luxury & comfort in vehicles are driving the market growth. However, high maintenance cost is restraining the growth of the market.
Automotive suspension system help in preventing damage to the vehicle components and automotive suspension is an important part of a vehicle which helps for comfort driving and enables safety. This suspension system offers isolation to the vehicle from high-frequency vibration from tire excitation. Automotive suspension helps in ensuring the vehicle responds positively to control forces produced by the tire at the time of breaking and acceleration force and provides good ride and handling performance.
Based on the vehicle type, the passenger cars segment is going to have lucrative growth during the forecast period as the suspension system is one of the essential systems in any type of vehicle. Therefore, the growth of the suspension system is directly equivalent to the production volume of passenger vehicles. In modern cars, the growing demand for comfort and safety features has increased the installation of independent suspension systems. Therefore, passenger cars held the largest growth in the automotive suspension market.
By geography, Asia Pacific is going to have high growth during the forecast period owing to presence of large number of vehicle and component manufacturers. The government organizations are supporting automotive industry by formulating supportive policies and regulatory frameworks. Countries such as China, India, and Japan opt for this cost-effective automotive suspension architecture, which is expected to drive the market during the forecast period.
Some of the key players profiled in the Automotive Suspension Market include Continental AG, Tenneco Inc, Gabriel India Limited, ThyssenKrupp AG, Hitachi, Mando Corporation, Fox Factory, Inc., KYB Corporation, Hendrickson, Rassini, Wabco and Magneti Marelli S.p.A.
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Report Coverage |
Details |
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Published Year: |
2021 |
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Estimated Market Size in 2020: |
USD 57.21 billion |
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Estimated Period: |
2020 |
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Compound Annual Growth Rate (CAGR) from 2020 to 2028: |
5.5% |
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Predicted 2028 Value: |
USD 87.80 billion |
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Forecast Years: |
2021-2028 |
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Tables, Graphs& Figures |
480 |
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Chapters Covered: |
Technology, Architecture, Geometry, System, Component, Actuation, Damping Type, Material, Electric & Hybrid Vehicle, Vehicle Type, Application, Distribution Channel and Region |
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Core Drivers and Opportunities: |
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Restraining Factors & Market Threats: |
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Technologies Covered:
• Advanced
• Conventional
Architectures Covered:
• Two-Wheeler Suspension
• Four-Wheeler Suspension
Geometries Covered:
• Independent
• Semi-Independent
• Dependent (Rigid)
Systems Covered:
• Semi-Active Suspension System
• Active Suspension System
• Passive Suspension System
• Adaptive System
Components Covered:
• Spring
• Rubber Bushing
• Shock Dampener/Absorber
• Suspension/Control Arms
• Ball Joint
• Leaf Spring
• Air Compressor
• Struts
• Link Stabilizer/Sway Bar
Actuations Covered:
• Electronically Actuated Active Suspension
• Hydraulically Actuated Active Suspension
Damping Types Covered:
• Air Suspension
• Electromagnetic Suspension
• Hydraulic / Pneumatic Suspension
Materials Covered:
• Composites
• Steel
Electric & Hybrid Vehicles Covered:
• Internal Combustion Engine (ICE)
• Fuel Cell Electric Vehicles (FCEV)
• Hybrid Electric Vehicles (HEV)
• Battery Electric Vehicles (BEVs)
• Plug-In Hybrid Electric Vehicles (PHEV)
Vehicle Types Covered:
• Buses
• Passenger Cars
• Commercial Vehicle
• Trucks
• Multi-Purpose Vehicles (MPVs)
• Sport Utility Vehicles (SUVs) & Crossovers
• Two-Wheelers
• Pickups
Applications Covered:
• Construction
• Defense
• Farm Tractors
• Electric
• Commercial
Distribution Channels Covered:
• Original Equipment Manufacturer (OEM)
• Aftermarket
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Automotive Suspension Market is majorly driven by increase in demand for vehicle comfort and safety, technological advancements, rise in production of vehicles and increasing adoption of air suspension systems in HCVs.
The electromagnetic suspension segment is growing at a highest CAGR due to increasing number of high-end vehicles that offer better ride quality and superior control.
Europe dominated with a significant market share due to the factors such as growing need for luxury vehicles equipped with advanced suspension systems and due to the easy availability of labor, safety norms, and government initiatives for FDIs.
Asia Pacific market is growing at a highest CAGR owing to presence of large number of vehicle and component manufacturers and countries in the region are opting for the cost-effective automotive suspension architecture in the region.
Key players in Automotive Suspension Market include Continental AG, Tenneco Inc, Gabriel India Limited, ThyssenKrupp AG, Hitachi, Mando Corporation, Fox Factory, Inc., KYB Corporation, Hendrickson, Rassini, Wabco and Magneti Marelli S.p.A.
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Automotive Suspension Market, By Technology
5.1 Introduction
5.2 Advanced
5.3 Conventional
6 Global Automotive Suspension Market, By Architecture
6.1 Introduction
6.2 Two-Wheeler Suspension
6.2.1 Rear Monoshock Suspension
6.2.2 Front Telescopic Suspension
6.2.3 Rear Dual Shock Suspension
6.2.4 Other Front Suspension
6.3 Four-Wheeler Suspension
6.3.1 Multi-Link
6.3.2 Double Wishbone
6.3.3 Rigid Axle
6.3.4 Twist Beam/Torsion Beam
6.3.5 MacPherson Strut
7 Global Automotive Suspension Market, By Geometry
7.1 Introduction
7.2 Independent
7.3 Semi-Independent
7.4 Dependent (Rigid)
8 Global Automotive Suspension Market, By System
8.1 Introduction
8.2 Semi-Active Suspension System
8.3 Active Suspension System
8.4 Passive Suspension System
8.5 Adaptive System
9 Global Automotive Suspension Market, By Component
9.1 Introduction
9.2 Spring
9.2.1 Coil Spring
9.2.2 Air Spring
9.3 Rubber Bushing
9.4 Shock Dampener/Absorber
9.5 Suspension/Control Arms
9.6 Ball Joint
9.7 Leaf Spring
9.8 Air Compressor
9.9 Struts
9.10 Link Stabilizer/Sway Bar
10 Global Automotive Suspension Market, By Actuation
10.1 Introduction
10.2 Electronically Actuated Active Suspension
10.3 Hydraulically Actuated Active Suspension
11 Global Automotive Suspension Market, By Damping Type
11.1 Introduction
11.2 Air Suspension
11.3 Electromagnetic Suspension
11.4 Hydraulic / Pneumatic Suspension
12 Global Automotive Suspension Market, By Material
12.1 Introduction
12.2 Composites
12.3 Steel
13 Global Automotive Suspension Market, By Electric & Hybrid Vehicle
13.1 Introduction
13.2 Internal Combustion Engine (ICE)
13.3 Fuel Cell Electric Vehicles (FCEV)
13.4 Hybrid Electric Vehicles (HEV)
13.5 Battery Electric Vehicles (BEVs)
13.6 Plug-In Hybrid Electric Vehicles (PHEV)
14 Global Automotive Suspension Market, By Vehicle Type
14.1 Introduction
14.2 Buses
14.3 Passenger Cars
14.3.1 Large Car
14.3.2 Compact Car
14.3.3 Small Car
14.3.4 Mid-Size Car
14.4 Commercial Vehicle
14.4.1 Light Commercial Vehicles (LCVs)
14.4.2 Heavy Commercial Vehicles (HCVs)
14.4.3 Medium Duty Commercial Vehicle
14.5 Trucks
14.6 Multi-Purpose Vehicles (MPVs)
14.7 Sport Utility Vehicles (SUVs) & Crossovers
14.8 Two-Wheelers
14.9 Pickups
15 Global Automotive Suspension Market, By Application
15.1 Introduction
15.2 Construction
15.3 Defense
15.4 Farm Tractors
15.5 Electric
15.6 Commercial
16 Global Automotive Suspension Market, By Distribution Channel
16.1 Introduction
16.2 Original Equipment Manufacturer (OEM)
16.3 Aftermarket
17 Global Automotive Suspension Market, By Geography
17.1 Introduction
17.2 North America
17.2.1 US
17.2.2 Canada
17.2.3 Mexico
17.3 Europe
17.3.1 Germany
17.3.2 UK
17.3.3 Italy
17.3.4 France
17.3.5 Spain
17.3.6 Rest of Europe
17.4 Asia Pacific
17.4.1 Japan
17.4.2 China
17.4.3 India
17.4.4 Australia
17.4.5 New Zealand
17.4.6 South Korea
17.4.7 Rest of Asia Pacific
17.5 South America
17.5.1 Argentina
17.5.2 Brazil
17.5.3 Chile
17.5.4 Rest of South America
17.6 Middle East & Africa
17.6.1 Saudi Arabia
17.6.2 UAE
17.6.3 Qatar
17.6.4 South Africa
17.6.5 Rest of Middle East & Africa
18 Key Developments
18.1 Agreements, Partnerships, Collaborations and Joint Ventures
18.2 Acquisitions & Mergers
18.3 New Product Launch
18.4 Expansions
18.5 Other Key Strategies
19 Company Profiling
19.1 Continental AG
19.2 Tenneco Inc
19.3 Gabriel India Limited
19.4 ThyssenKrupp AG
19.5 Hitachi
19.6 Mando Corporation
19.7 Fox Factory, Inc.
19.8 KYB Corporation
19.9 Hendrickson
19.10 Rassini
19.11 Wabco
19.12 Magneti Marelli S.p.A
List of Tables
1 Global Automotive Suspension Market Outlook, By Region (2019-2028) ($MN)
2 Global Automotive Suspension Market Outlook, By Technology (2019-2028) ($MN)
3 Global Automotive Suspension Market Outlook, By Advanced (2019-2028) ($MN)
4 Global Automotive Suspension Market Outlook, By Conventional (2019-2028) ($MN)
5 Global Automotive Suspension Market Outlook, By Architecture (2019-2028) ($MN)
6 Global Automotive Suspension Market Outlook, By Two-Wheeler Suspension (2019-2028) ($MN)
7 Global Automotive Suspension Market Outlook, By Rear Monoshock Suspension (2019-2028) ($MN)
8 Global Automotive Suspension Market Outlook, By Front Telescopic Suspension (2019-2028) ($MN)
9 Global Automotive Suspension Market Outlook, By Rear Dual Shock Suspension (2019-2028) ($MN)
10 Global Automotive Suspension Market Outlook, By Other Front Suspension (2019-2028) ($MN)
11 Global Automotive Suspension Market Outlook, By Four-Wheeler Suspension (2019-2028) ($MN)
12 Global Automotive Suspension Market Outlook, By Multi-Link (2019-2028) ($MN)
13 Global Automotive Suspension Market Outlook, By Double Wishbone (2019-2028) ($MN)
14 Global Automotive Suspension Market Outlook, By Rigid Axle (2019-2028) ($MN)
15 Global Automotive Suspension Market Outlook, By Twist Beam/Torsion Beam (2019-2028) ($MN)
16 Global Automotive Suspension Market Outlook, By MacPherson Strut (2019-2028) ($MN)
17 Global Automotive Suspension Market Outlook, By Geometry (2019-2028) ($MN)
18 Global Automotive Suspension Market Outlook, By Independent (2019-2028) ($MN)
19 Global Automotive Suspension Market Outlook, By Semi-Independent (2019-2028) ($MN)
20 Global Automotive Suspension Market Outlook, By Dependent (Rigid) (2019-2028) ($MN)
21 Global Automotive Suspension Market Outlook, By System (2019-2028) ($MN)
22 Global Automotive Suspension Market Outlook, By Semi-Active Suspension System (2019-2028) ($MN)
23 Global Automotive Suspension Market Outlook, By Active Suspension System (2019-2028) ($MN)
24 Global Automotive Suspension Market Outlook, By Passive Suspension System (2019-2028) ($MN)
25 Global Automotive Suspension Market Outlook, By Adaptive System (2019-2028) ($MN)
26 Global Automotive Suspension Market Outlook, By Component (2019-2028) ($MN)
27 Global Automotive Suspension Market Outlook, By Spring (2019-2028) ($MN)
28 Global Automotive Suspension Market Outlook, By Coil Spring (2019-2028) ($MN)
29 Global Automotive Suspension Market Outlook, By Air Spring (2019-2028) ($MN)
30 Global Automotive Suspension Market Outlook, By Rubber Bushing (2019-2028) ($MN)
31 Global Automotive Suspension Market Outlook, By Shock Dampener/Absorber (2019-2028) ($MN)
32 Global Automotive Suspension Market Outlook, By Suspension/Control Arms (2019-2028) ($MN)
33 Global Automotive Suspension Market Outlook, By Ball Joint (2019-2028) ($MN)
34 Global Automotive Suspension Market Outlook, By Leaf Spring (2019-2028) ($MN)
35 Global Automotive Suspension Market Outlook, By Air Compressor (2019-2028) ($MN)
36 Global Automotive Suspension Market Outlook, By Struts (2019-2028) ($MN)
37 Global Automotive Suspension Market Outlook, By Link Stabilizer/Sway Bar (2019-2028) ($MN)
38 Global Automotive Suspension Market Outlook, By Actuation (2019-2028) ($MN)
39 Global Automotive Suspension Market Outlook, By Electronically Actuated Active Suspension (2019-2028) ($MN)
40 Global Automotive Suspension Market Outlook, By Hydraulically Actuated Active Suspension (2019-2028) ($MN)
41 Global Automotive Suspension Market Outlook, By Damping Type (2019-2028) ($MN)
42 Global Automotive Suspension Market Outlook, By Air Suspension (2019-2028) ($MN)
43 Global Automotive Suspension Market Outlook, By Electromagnetic Suspension (2019-2028) ($MN)
44 Global Automotive Suspension Market Outlook, By Hydraulic / Pneumatic Suspension (2019-2028) ($MN)
45 Global Automotive Suspension Market Outlook, By Material (2019-2028) ($MN)
46 Global Automotive Suspension Market Outlook, By Composites (2019-2028) ($MN)
47 Global Automotive Suspension Market Outlook, By Steel (2019-2028) ($MN)
48 Global Automotive Suspension Market Outlook, By Electric & Hybrid Vehicle (2019-2028) ($MN)
49 Global Automotive Suspension Market Outlook, By Internal Combustion Engine (ICE) (2019-2028) ($MN)
50 Global Automotive Suspension Market Outlook, By Fuel Cell Electric Vehicles (FCEV) (2019-2028) ($MN)
51 Global Automotive Suspension Market Outlook, By Hybrid Electric Vehicles (HEV) (2019-2028) ($MN)
52 Global Automotive Suspension Market Outlook, By Battery Electric Vehicles (BEVs) (2019-2028) ($MN)
53 Global Automotive Suspension Market Outlook, By Plug-In Hybrid Electric Vehicles (PHEV) (2019-2028) ($MN)
54 Global Automotive Suspension Market Outlook, By Vehicle Type (2019-2028) ($MN)
55 Global Automotive Suspension Market Outlook, By Buses (2019-2028) ($MN)
56 Global Automotive Suspension Market Outlook, By Passenger Cars (2019-2028) ($MN)
57 Global Automotive Suspension Market Outlook, By Large Car (2019-2028) ($MN)
58 Global Automotive Suspension Market Outlook, By Compact Car (2019-2028) ($MN)
59 Global Automotive Suspension Market Outlook, By Small Car (2019-2028) ($MN)
60 Global Automotive Suspension Market Outlook, By Mid-Size Car (2019-2028) ($MN)
61 Global Automotive Suspension Market Outlook, By Commercial Vehicle (2019-2028) ($MN)
62 Global Automotive Suspension Market Outlook, By Light Commercial Vehicles (LCVs) (2019-2028) ($MN)
63 Global Automotive Suspension Market Outlook, By Heavy Commercial Vehicles (HCVs) (2019-2028) ($MN)
64 Global Automotive Suspension Market Outlook, By Medium Duty Commercial Vehicle (2019-2028) ($MN)
65 Global Automotive Suspension Market Outlook, By Trucks (2019-2028) ($MN)
66 Global Automotive Suspension Market Outlook, By Multi-Purpose Vehicles (MPVs) (2019-2028) ($MN)
67 Global Automotive Suspension Market Outlook, By Sport Utility Vehicles (SUVs) & Crossovers (2019-2028) ($MN)
68 Global Automotive Suspension Market Outlook, By Two-Wheelers (2019-2028) ($MN)
69 Global Automotive Suspension Market Outlook, By Pickups (2019-2028) ($MN)
70 Global Automotive Suspension Market Outlook, By Application (2019-2028) ($MN)
71 Global Automotive Suspension Market Outlook, By Construction (2019-2028) ($MN)
72 Global Automotive Suspension Market Outlook, By Defense (2019-2028) ($MN)
73 Global Automotive Suspension Market Outlook, By Farm Tractors (2019-2028) ($MN)
74 Global Automotive Suspension Market Outlook, By Electric (2019-2028) ($MN)
75 Global Automotive Suspension Market Outlook, By Commercial (2019-2028) ($MN)
76 Global Automotive Suspension Market Outlook, By Distribution Channel (2019-2028) ($MN)
77 Global Automotive Suspension Market Outlook, By Original Equipment Manufacturer (OEM) (2019-2028) ($MN)
78 Global Automotive Suspension Market Outlook, By Aftermarket (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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