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    Automotive Composite Suspension Components Market Report

    Automotive Composite Suspension Components Market Report
    Report code - SRAM126 Published On : May,2018 No. of Pages: 215
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    Automotive Composite Suspension Components Market Size, Share, Trend, Forecast, & Comp See more...

    Impact of COVID-19 on Automotive Composite Suspension Components Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Automotive Composite Suspension Components Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    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-Components-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

    Segments' Analysis

    Automotive Composite Suspension Components Market Share 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.

    Automotive Composite Suspension Components Market Share 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.

     

    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)

    Key Players

    The supply chain of this market comprises raw material suppliers, composite component manufacturers, OEMs, distributors, and end users.

    The 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
    • Sogefi Group