According to the recent study the automotive suspension market is projected to reach an estimated $48.6 billion by 2025 from $45.3 billion in 2019, at a CAGR of 1.2% from 2020 to 2025. Growth in this market is primarily driven by increasing vehicle production, increasing need for improved ride quality, and the growing demand for advanced safety and convenience systems.
Browse 139 figures / charts and 110 tables in this 209-page report to understand trends, opportunities and forecast in automotive suspensions 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).
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“Passenger car market is expected to remain the largest segment during the forecast period.”
Based on vehicle type, the passenger car market is segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. Lucintel forecasts that the passenger car market is expected to remain the largest segment.
“Within the automotive suspension market, the passive suspension system segment is expected to remain the largest system”
Based on system, the silver biocides segment is expected to witness the largest segment over the forecast period and active suspension system is expected to witness the highest growing segment 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.
“Asia Pacific will dominate the automotive suspension market in near future”
Asia Pacific is expected to be the largest region with the highest growth over the forecast period due to higher vehicle production, increasing government regulations for safety and security, and consumer demand for improved suspensions during the forecast period.
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Major players of automotive suspensions market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Benteler International, Tenneco Inc., ZF Friedrichshafen AG, KYB Corporation, and Magneti Marelli S.p.A and others are among the major automotive suspensions providers.
This unique 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 [email protected]
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