Industry Background:
Vehicle suspension system includes various components such as springs, tires, shock absorbers, linkages and others. These components are designed in a way to provide passengers smooth, safe, and comfortable ride by isolating vehicles from the vibrations and shock caused by road surface. and Of late, there has been huge rise in automotive vehicles sales which led to rise in vehicles-produced emission. This in turns has provided a lucrative opportunity for OEMs to design lightweight suspension system. Stringent regulatory frameworks outlined by government agencies have further provided the boost to the environment friendly automotive suspension system.
According to AMA Research, the market for Vehicle Suspension System is expected to register a CAGR of 3.65% during the forecast period to 2027. This growth is primarily driven by Growing Demand for Comfort,Safety and Quality in Vehicle Ride
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Billion) |
Key Companies in Study | 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 Corporation (Japan), Hendrickson USA L.L.C (United States) and WABCO (France) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Globally, a noticeable market trend is evident Increasing Adoption of Electronically Controlled Active Suspension System
. Major Vendors, such as 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 Corporation (Japan), Hendrickson USA L.L.C (United States) and WABCO (France) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In June 2021- KW automotive Group acquired AL-KO Damping Technology Business Unit. AL-KO Damping Technology business unit manufactures shock absorbers for an array of commercial vehicles with varying body solutions and chassis types.
In June 2021 -Toyota launches the new Land Cruiser redesign of the Land Cruiser's features with adoption of the new GA-F platform. The company improved the basic suspension performance by making changes in the wheel articulation and a number indicating the ability of a tire to stay on the ground.
Market Drivers
- Growing Demand for Comfort,Safety and Quality in Vehicle Ride
- Rise in Number of On-road Vehicles
Market Trend
- Increasing Adoption of Electronically Controlled Active Suspension System
- Growing Adoption of Pneumatic Suspension in Heavy Duty Vehicles
Restraints
- High Capital Cost Involved in Development of Advanced and High-performance Suspension System
Opportunities
Focus on Deploying Light-weight Materials in Automotive Suspension Development and Growing Production and Sales of Electric and Hybrid Vehicles
Challenges
Increasing Market Share of Counterfeit Suspension Products and Complexity Involved in Efficient Suspension Design
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Vehicle Suspension System Study Sheds Light on
The Vehicle Suspension System Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Vehicle Suspension System industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Vehicle Suspension System industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.