According to a new market report published by Lucintel, the future of the 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 decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $48.6 billion by 2025 with a CAGR of 0% to 2% from 2020 to 2025. 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.
Browse 110 market data tables and 139 figures spread through 209 pages and in-depth TOC on “Automotive Suspension Market”
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By vehicle type, small cars, mid-size cars, compact cars, large cars, SUVs and crossovers, MPVs, pickups, and heavy commercial vehicle are the major segments of the automotive suspension market. On the basis of its comprehensive research, Lucintel forecasts that the compact car and large 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
By end user, OEM and aftermarket are the major segments of the automotive suspension market. OEM is expected to remain the largest segment due to increasing automotive production and increasing demand for lightweight suspension components during the forecast period.
Steel, composites and other materials are used in the automotive suspension market. Steel is used globally by automakers so as to achieve desired strength at an economical price.
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.
Emerging trends, which have a direct impact on the dynamics of the industry, include the development of lightweight suspensions, the introduction of electronic suspension technology, and the introduction of energy recovery suspension systems. Benteler International, Tenneco, ZF Friedrichshafen, KYB Corporation, Magneti Marelli, Mando Corporation, Sogefi Group, Rassini, NHK Spring, and ThyssenKrupp are the major suspension suppliers in the automotive suspension market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the automotive suspension market by vehicle type, system type, damping type, end user, material type, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Automotive Suspension Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the automotive suspension market by vehicle type, system type, damping type, end user, material type, and region, as follows:
By Vehicle Type ($ Billion from 2014 to 2025)
Small CarsCompact CarsMid-Size CarsLarge CarsSUVs and CrossoversMPVsPickupsHeavy Commercial Vehicles
By System ($ Billion from 2014 to 2025)
Passive Suspension SystemActive Suspension SystemSemi-Active Suspension System
By Damping Type ($ Billion from 2014 to 2025)
Hydraulic SuspensionAir SuspensionLeaf Spring SuspensionOthers
By End User ($ Billion from 2014 to 2025)
By Material Type ($ Billion 2019 and $ Billion 2025)
By Region [Volume (Million Units and $ B Shipment from 2014 to 2025)
North AmericaEuropeAsia PacificThe Rest of the World
This 209-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/automotive-suspension-market.aspx or firstname.lastname@example.org.
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