According to a new market report published by Lucintel, the future of the global automotive composite suspension components market looks attractive with opportunities in the markets of passenger cars, light commercial vehicles, and medium & heavy commercial vehicles. The global automotive composite suspension components market is expected to grow at a CAGR of 4.9% from 2019 to 2024. The major drivers for this market are growth in automotive production and increasing demand for lightweight materials to achieve high fuel efficiency and reduce carbon emissions.
Browse 85 market data tables and 114 figures spread through 168 pages and in-depth TOC on “Global Automotive Composite Suspension Components Market"
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In this market, different types of automotive composite suspension components such as leaf spring, coil spring and stabilizer bar are used as component. On the basis of comprehensive research, composite leaf springs will remain the largest segment and witness the highest growth over the forecast period because composite leaf springs are lighter weight and offer better durability compared to steel spring.
Within the automotive composite suspension components market, the end use industry of passenger cars and light commercial vehicles will remain the largest and witness the highest growth over the forecast period due to increasing penetration of composite leaf springs to reduce vehicle weight.
Europe will remain the largest region by value and volume over the forecast period due to stringent government regulations to increase fuel efficiency and lower carbon emissions. APAC is expected to witness the highest growth over the forecast period due to increasing penetration of composites leaf springs.
An emerging trend, which has a direct impact on the dynamics of the automotive composite suspension components industry, includes development of CFRP leafsprings for heavy commercial vehicles. Liteflex, Sogefi Group, Mubea Fahrwerkstechnologien, IFA Composite, and Henderickson are among the major automotive composite suspension components manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global automotive composite suspension components market by components, vehicle, process, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Automotive Composite Suspension Components Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive composite suspension components market by components, vehicle, process, and region as follows:
By Component (Volume (Million Pounds) and $M shipment analysis for 2013 – 2024):
Leaf Spring Coil SpringStabilizer Bar
By Vehicle (Volume (Million Pounds) and $M shipment analysis for 2013 – 2024):
Passenger car and light commercial vehicleMedium and heavy commercial vehicles Others
By Process (Volume (Million Pounds) and $M shipment analysis for 2013 – 2024):
Resin Transfer Molding Prepreg Lay UpCompression Molding
By Region (Volume (Million Pounds) and $M shipment analysis for 2013 – 2024):
North AmericaEuropeAsia PacificThe Rest of the World
This 168-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-composite-suspension-components-market.aspx or [email protected]
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