Emphasis on better ride control performance, smooth and safe ride with no vibrations for the driver are key reasons which have changed the overall scenario for automotive suspension systems market. Automotive suspension systems is very much essential for comfort driving and safety as the suspension carries the vehicle body and transmits all the forces between the body and the road. The automotive suspension system consists of wishbones, spring and the shock absorber to transmit and filter all the forces between the body and the road. It provides good ride and handling performance and also ensures that the vehicle responds favourably to control forces produced by the tyres during braking and acceleration forces. Introduction of suspension systems that have enable almost zero vibration in vehicles along with the most optimal quality ride and control are fuelling the overall demand for automotive suspensions systems market. Automotive suspension systems also helps in preventing excess wear and tear of vehicle and its components.
Automotive Suspension Systems Market: Drivers & Restraints
Increasing number of technological advancements and demand for good suspension systems globally are fuelling the demand for cheap, light in weight and economical automotive suspension systems. Manufacturers are required to invest largely in creation of advanced exhaust systems to meet strict government norms. Strict emission norms and fuel efficiency standards imposed by government in different regions have forced manufacturers to look for different solutions to achieve the same. Although the overall automotive suspension market is growing significantly, challenges such as lack of standardization and high prices of independent suspension systems is hindering the growth for automotive suspensions systems market. However during the forecast period, the companies are expected to drop the prices of automotive suspension systems.
Global Automotive Suspension Systems Market: Region-wise Outlook
In terms of geography, the global automotive suspension systems market has been divided in to seven key regions including North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan.Global suspension systems market is expected to witness high growth in APAC followed by Europe and North America. With introduction of advanced suspension systems market in emerging economies such as India and China, APAC is expected to drive the demand for advanced automotive suspension systems. European countries such as Germany, France and UK dominated sales in Europe. Moreover, increasing demand for automotive sales globally supported by high disposable income is fuelling the overall demand for automotive suspension market and register steady CAGR during the forecast period.
Automotive Suspension Systems Market: Key Players
Some of the market participants in the global automotive suspension systems market are Magneti Marelli S.p.A, Mando Corp, Tenneco Inc, TRW Automotive Holdings Inc, BWI Group, Continental AG, Kayaba Industry Company ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, channel types, vehicle type, system and damping type.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Automotive Suspension Systems Market: Segmentation
On the basis of vehicle type, the global automotive suspension systems market is segmented into,
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
- Passenger Vehicle
On the basis of system type, the global automotive suspension systems market is segmented into
On the basis of damping type, the global automotive suspension systems market is segmented into
On the basis of channel type, the global automotive exhaust systems market is segmented into
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