Market Overview:
The global automotive suspension market is likely to grow at an annual rate of 3.88% during the forecast period, from $ 50.76 billion in 2021 to reach $ 68.84 billion by 2026.
Suspensions help keep car tires in contact with the road while driving to reduce bumps while driving and protect the car from deterioration or wear. Also, it offers a separation of the car from the high-frequency vibrations of the tire excitation. The car's suspension consists of a spring frame, dampers, spacers, control arms, and ball joints that connect the car to the wheel and thus allow relative movement between the two. The type of geometry and the system used to form the suspension depend on the curvature of the wheel, the hub wheel, the tip of the car, and the inclination of the kingpin of the control arms.
Key drivers include increased auto production and interest in luxury features that will maximize the use of suspension. The automotive suspension is a frame made up of shock absorbers, tires, springs, and rods, which fastens the car to its wheels and ensures synchronization in the movement of the two wheels. Suspension systems are one of the most important elements of a vehicle because they support both the driving quality and the handling of a car.
Recent Developments:
Drivers and Restraints of Automotive Suspension Market:
Drivers:
Technological improvements in the automotive suspension market have led to the development of suspensions for electric generators. This type of suspension fulfills its usual function and also serves as a power source for certain automotive energy needs. This technology is in its infancy and is expected to grow at a significant rate during the anticipated period. The demand for light vehicle suspensions with the increase in car manufacturing and the growth of the vehicle segment in the main countries of the world triggers the growth of the world market for car suspensions.
Restraints:
Despite its advantages, rising costs remain the main obstacle to the growth of electromagnetic suspension systems. Although the market for automotive suspensions is growing exponentially, certain limitations, such as the lack of standardization and the increased costs of independent suspension systems, limit its growth.
Market Segmentation:
The increase in disposable income in developing countries is an important factor that stimulates the passenger car market. The passenger car sector is expected to be the fastest-growing sector in the global automotive suspension market. For example, increased customer disposable income and increased auto ownership with easy financing options have resulted in increased passenger car sales. The demand for automatic suspension for light commercial vehicles is also expected to increase due to increased production in the North America region, as people choose to travel off-road with light commercial vehicles.
Active suspension systems control the vertical movement of a car's wheels relative to the car's body or chassis using an onboard system. In passive suspension systems, the movement of the car is determined by the road surface. Most passenger cars use lightweight coil springs, while light commercial cars use coil springs and air springs in their automotive suspension systems. Heavy commercial cars primarily use air springs for suspension.
By Actuation:
Electronic suspension systems are increasing at a rapid rate due to the increasing number of high-end cars offering better driving quality and superior control. These suspension systems reduce the car's rolling when cornering, accelerating, and braking.
Automotive Suspension Market Region-wise analysis:
Marked Segmentation based on the region:
a. Middle East
b. Africa
Economic reforms in the Asia-Pacific region and Europe and increased investment in private capital in vehicle suspension production organizations worldwide are likely to have a positive impact on the growth of this market. Automotive Suspension Market growth in the region has been enhanced by the higher standards of automotive safety developed by various transportation authorities.
IMPACT OF COVID-19 ON AUTOMOTIVE SUSPENSION MARKET:
Cargo and Logistics associations have been on the bleeding edge since the earliest reference point of the COVID-19 emergency, keeping racks supplied and basic creation lines running. Be that as it may, the year began with world product exchange development as of now underneath pattern – and now the business is confronting interruption on a worldwide scale. No business has been resistant to the emergency with a significant effect on the automotive industry. Supply chains are affected, and pioneers must make quick, exceptionally educated choices to secure and bolster their kin and guarantee that basic business activities bolster the prompt and longer-term cultural requirements. Pioneers in the automotive industry have just exceeded expectations by promoting cargo movement notwithstanding immense difficulties.
Key Players of Market:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By System
5.1.1 Introduction
5.1.2 Passive and Semi Active/Active
5.1.3 Y-o-Y Growth Analysis
5.1.4 Market Attractiveness Analysis
5.1.5 Market Share Analysis
5.2 By Component
5.2.1 Introduction
5.2.2 Spring
5.2.3 Shock Dampener
5.2.4 Struts
5.2.5 Control Arms
5.2.6 Ball Joint
5.2.7 Leaf Spring
5.2.8 Air Compressor
5.2.9 Y-o-Y Growth Analysis
5.2.10 Market Attractiveness Analysis
5.2.11 Market Share Analysis
5.3 By Geometry
5.3.1 Introduction
5.3.2 Dependent
5.3.3 Sapphire
5.3.4 Semi Independent
5.3.5 Independent
5.3.6 Y-o-Y Growth Analysis
5.3.7 Market Attractiveness Analysis
5.3.8 Market Share Analysis
5.4 By Suspension Type
5.4.1 Introduction
5.4.2 Hydraulic Suspension
5.4.3 Sapphire
5.4.4 Air Suspension
5.4.5 Leaf Spring
5.4.6 Y-o-Y Growth Analysis
5.4.7 Market Attractiveness Analysis
5.4.8 Market Share Analysis
5.5 By Vehicle type
5.5.1 Introduction
5.5.2 Two wheeler
5.5.3 Passenger Cars
5.5.4 Two wheeler
5.5.5 Commercial Vehicle
5.5.6 Y-o-Y Growth Analysis
5.5.7 Market Attractiveness Analysis
5.5.8 Market Share Analysis
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By System
6.1.3.3 By Component
6.1.3.4 By Geometry
6.1.3.5 By Suspension Type
6.1.3.5 By Vehicle type
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By System
6.1.4.3 By Component
6.1.4.4 By Geometry
6.1.4.5 By Suspension Type
6.1.4.5 By Vehicle type
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By System
6.1.5.3 By Component
6.1.5.4 By Geometry
6.1.5.5 By Suspension Type
6.1.5.5 By Vehicle type
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leader Analysis
8.1 KYB Corporation
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Hendrickson USA, L.L.C
8.3 Gabriel India Limited
8.4 FOX Factory, Inc
8.5 WABCO
8.6 Continental AG
8.7 Magneti Marelli S.p.A
8.8 Tenneco Inc
8.9 Sogefi SpA
8.10 Tower International
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
