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    Automotive Composite Suspension Components Market Size, Share & Forecast (2018-2023)

    Automotive Composite Suspension Components Market Size, Share & Forecast (2018-2023)
    Report code - SRAM126 Published On : May,2018 No. of Pages: 215

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    Automotive Composite Suspension Components Market Insights

    The global automotive composite suspension components market is still at a nascent stage but possesses significant growth potential over the next five years to reach US$ 100 million in 2023. Organic growth of automobile production, growing preference for composite components in passenger and light commercial vehicles, development of new composite suspension applications, advancement in composites technology, and stringent government regulations regarding fuel efficiency and carbon emission reductions are the major factors that are burgeoning the demand for composite suspension components in the automotive industry.

    Automotive Composite Suspension Component Market Forecast

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    Composite suspension components offer several benefits over steel components, such as lightweight, high durability, better vibration energy absorption, and excellent fatigue resistance. For example; composite leaf spring is up to five times more durable than that of similarly sized steel leaf springs at just the 1/7th weight.

    Automotive Composite Suspension Components Market Share Analysis

    Insights by Component Type

    The global automotive composite suspension components market is segmented based on component type as Leaf Spring, Coil Spring, Suspension Arm, Stabilizer Bar, and Other Components. Composite leaf spring is expected to remain the largest segment of the market during the forecast period. Composite leaf springs are mainly used in passenger cars and light commercial vehicles. Pickup, Van, and SUVs are the major vehicle types that are using composite leaf springs on either transversal or longitudinal position depending on requirements, vehicle design, etc. All the major OEMs are evaluating the usage of composite leaf springs in their major Pickup, VAN, and SUV models.

    Insights by Type of Vehicles

    Based on the vehicle type, the global automotive composite suspension components market is segmented as passenger car, light commercial vehicle (LCV), medium & heavy-duty commercial vehicle (M&HCV), and others. LCV currently dominates the global automotive composite suspension components market because of higher usage of composite leaf springs in LCVs. The passenger car segment is projected to witness the highest growth during the forecast period, driven by an increasing usage of leaf springs and coil springs.

    Regional Insights

    Based on regions, Europe is expected to remain the largest market for composite suspension components in the automotive industry over the next five years, driven by higher usage of composite leaf springs in LCVs. North America and Asia-Pacific are likely to witness higher growth rates over the next five years, driven by a host of factors including gradual shift of assembly plants of OEMs in these regions, increasing penetration of composite leaf springs, and market entry of local composite leaf spring manufacturers.

    Key Players

    The supply chain of this market comprises raw material suppliers, composite component manufacturers, OEMs, distributors, and end users. The global automotive composite suspension components market is highly consolidated with the presence of a dozen of global players. The key players are Liteflex LLC, IFC Composite GmbH, Benteler-SGL, and Sogefi Group. New product development, capacity expansion, and process optimization are the key strategies adopted by the major players to gain a competitive edge in the market.

    Automotive Composite Suspension Component Market Share

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2012-2023

    Size in 2023

    US$ 100 million

    Forecast

    10.6% CAGR during 2018-2023

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries/Subregions Covered

    The USA, Canada, Mexico, Germany, Sweden, Italy, Russia, China, South Korea, India, Brazil and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

    The market is segmented in the following ways:

    Automotive Composite Suspension Components Market Size, Share & Forecast by Component Type:

    • Coil Springs
    • Leaf Springs
    • Stabilizer Bar
    • Suspension Arm
    • Others

    Automotive Composite Suspension Components Market Size, Share & Forecast by Vehicle Type:

    • Passenger Car
    • Light Commercial vehicle
    • Medium- & Heavy-Duty Commercial Vehicle
    • Others

    Automotive Composite Suspension Components Market Size, Share & Forecast by Manufacturing Process Type:

    • Compression Molding Process
    • HP-RTM Process
    • Prepreg Layup Process
    • Other Process

    Automotive Composite Suspension Components Market Size, Share & Forecast by Region:

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, Sweden, Italy, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, South Korea, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil and Others)

    Report Features

    This report, from Stratview Research, studies the composite suspension components market in the global automotive industry over the trend period 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities in the market.

    The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.


    Frequently Asked Questions (FAQs)

    What is composite suspension component?

    Automotive Composite Suspension component is mainly a connection between the vehicle frame and the road on which the vehicle is running. The suspension system includes components such as tires, shock absorbers, joints, bushings, and many others. Automotive Composite Suspension component is different from the regular suspension component based on a number of factors such as the composite components are lighter in weight, are more durable in nature that can also lead to lesser carbon emission and better efficiency. Hence the composite suspension components are beneficial to the user as well as the environment.

    What will be the size of the Automotive Composite Suspension Components Market in the foreseeable years?

    Driven by a number of factors like growing preference for composite components in passenger and light commercial vehicles, the automotive composite suspension component market size is projected to reach an estimated value of US$ 100 million in 2023.

    Which country/region is expected to remain the largest Automotive Composite Suspension Components Market?

    Based on regions, Europe is expected to remain the largest market for composite suspension components in the automotive industry over the next five years, driven by higher usage of composite leaf springs in LCVs.

    Which type of component is expected to remain dominant?

    Composite leaf spring is projected to remain the most dominant component type in the market during the forecast period.

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