What is Automotive Suspension Device Market?
Suspension device is a shock absorber system which is provided with damping force and change over mechanism. These devices helps in maintaining the vehicle control and suspend vehicle frame, engine and other parts of the vehicle. In addition it provides comfortable ride by reducing vibrations and irregularities in the road. Suspension device is classified into passive, semi active and active, which include springs and dampers, hydraulic and electric force actuators respectively.
Highlights from Automotive Suspension Device Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Magneti Marelli S.p.A (Italy), Mando Corp. (South Korea), Tenneco Inc. (United States), TRW Automotive Holdings Inc. (United States), BWI Group (China), Continental (Germany), KYB (Japan), Multimatic (Canada), Rassini (Mexico) and Trelleborg Vibracoustic (Germany) |
The global Automotive Suspension Device is fragmented. Companies are expected to provide a significant number of quality products, with innovation and research & development. Leading players in the Automotive Suspension Device market are focusing on market expansion through strategic activities like mergers & acquisitions and providing quality products to maintain its competitive edge in the market. Research Analyst at AMA predicts that Europe Vendors will contribute to the maximum growth of Global Automotive Suspension Device market throughout the forecasted period.
Magneti Marelli S.p.A (Italy), Mando Corp. (South Korea), Tenneco Inc. (United States), TRW Automotive Holdings Inc. (United States), BWI Group (China), Continental (Germany), KYB (Japan), Multimatic (Canada), Rassini (Mexico) and Trelleborg Vibracoustic (Germany) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are ThyssenKrupp Automotive Systems (Germany) and ZF Friedrichshafen (Germany). Automotive Suspension Device Market Segmentation:
Scope | Sub-Segments |
---|
Geometry | Dependent,Semi-Independent,Independent |
Suspension Type | Hydraulic Suspension,Air Suspension,Leaf Spring Suspension,Other |
Vehicle type | Two Wheeler,Passenger Car,Light Commercial Vehicles,Heavy Commercial Vehicles,Others |
Component | Air Spring,Shock Dampener,Struts,Controller/Control Arms,Ball Joint,Leaf Spring,Other |
System | Passive,Semi-Active,Active |
On the basis of geography, the market of Automotive Suspension Device has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements in Automotive Parts
Market Growth Drivers:
Upsurge in two wheeler industry is propelling the market growth. The boost in buying power is forcing the increase in production which in turn contributing towards the automotive suspension device market.
Challenges:
Stiff Competition among the Players
Restraints:
High Maintenance Costs of Suspension System May Hinder the Growth
Opportunities:
Rising Disposable Income is leading to Purchase of Vehicle and Rising Demand of Luxury and Comfort is Boosting the Market
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
Market Leaders & Development Strategies
In November 2018, Tenneco has acquired suspension company Ohlins. This acquisition accelerates the development of advanced original equipment intelligent suspension solutions.
In February 2018, Hitachi automotive systems have launched the Tokico suspension product and expand its aftermarket business. The company has also established a new technical center in Delhi to expand its footprints in North India. This new technical center will support Hitachi Automotive Systems’ Chennai operations.
"Generally, the agency regulates equipment that is required on all new motor vehicles. Emissions-related parts are regulated by the U.S. Environmental Protection Agency, California Air Resources Board, and other state agencies. States are free to enact equipment regulations that are identical to NHTSA standards or, in the absence of a federal rule, establish their own laws and regulations. The most frequent examples of individual state rules cover parts like auxiliary lighting equipment, noise levels for exhaust and stereo systems, suspension height, and window-tinting."