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    Automotive Suspension Market | Covid-19 Impact Analysis

    Automotive Suspension Market | Covid-19 Impact Analysis

    Automotive Suspension Market | Covid-19 Impact Analysis
    Report code - SRTI127 Published On : Dec,2016 No. of Pages: 386
    Automotive Suspension Market Size, Share, Trend, Forecast, & Competitive Analysis
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    Impact of COVID-19 on Automotive Suspension Market

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

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    Impact of COVID-19 on Automotive Suspension Market

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

    Automotive Suspension Market Insights

    Suspension includes many components: shock absorbers, struts, leaf springs, coil springs, stabilizer bars, control arms, ball joints, torsional bars, and many more. All the vehicles must have a suspension system to provide smooth ride and reduce vibration caused by irregularities of road. Over a period, the automotive industry has experienced a significant change in the suspension technology, material, style, design, etc. There are countless styles of suspension components available worldwide featuring different advantages. At present, the development of lightweight suspension components is the key focus of automakers to meet stringent regulations of various countries.

    The global suspension market in the automotive industry offers healthy growth prospects of >4% CAGR over the next five years to reach $68533.5 million in 2025. Increasing annual production of passenger cars, light commercial vehicles, and medium & heavy duty commercial vehicles, increasing gloal automotive fleet size, increasing need for lightweight suspension system to achieve stringent regulations, such as CAFÉ Standards, increasing customer expectation related to vehicle comfort, safety, stability, and control, and increasing need for suspension with reduced space are some of the major drivers of the market.

     

    Automotive Suspension Market Share Analysis

    Automotive-Suspension-Market-Dominant-Segments

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    Automotive Suspension Market Share by Vehicle Type

    Passenger car is expected to remain the largest segment for automotive suspension over the next five years. The segment is also likely to witness the highest growth during the same period driven by high annual production of passenger cars, large passenger car fleet size, increasing demand of lightweight suspension components, and continuous advancement in suspension components.

    Automotive Suspension Market Share by System Type

    There are four types of suspension systems used in the automotive industry: passive suspension system, semi-active, active, and air suspension. Passive suspension system was the most widely used system type in all the vehicle segments in 2019, however, active suspension system is expected to possess the highest growth during the forecast period.

    Semi-independent / independent architecture dominated the global automotive suspension market in 2019 in terms of value, followed by dependent architecture. Air suspension and double wishbone & multi-link (both part of semi-independent) are expected to witness the highest growth over the next five years.

    There are two types of damping systems used in the automotive industry: hydraulic / pneumatic and electromagnetic. Hydraulic / pneumatic based suspension is likely to remain the largest damping type during the forecast period. Electromagnetic damping is relative new technology and is rapidly gaining market acceptance mainly in the luxury and premium cars. Currently, it is a very small market but is likely to experience huge growth in the coming years.

    Regional Insights

    In terms of region, Asia-Pacific dominated the global automotive suspension market in 2019 in terms of value, followed by Europe, North America, and RoW. The region is likely to remain the largest market during the forecast period; however, RoW is likely to be the fastest growing region, driven by expected recovery of Brazilian automotive industry after 2016 and upcoming assembly plants in Middle East and Africa regions.

    Automotive-Suspension-Market-By-Region

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    Key Players

    The global automotive suspension market is moderately consolidated with the presence of more than 200 global as well as regional players. Top 10 players are- 

    • ZF Friedrichshafen AG
    • ThyssenKrupp AG
    • Benteler International AG
    • Magneti Marelli S.P.A.
    • KYB Corporation
    • Tenneco Inc
    • Mubea Fahrwerksfedern GmbH
    • NHK Springs Co., Ltd
    • Mando Corp
    • Rassini

     

    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

     2014-2025

    Size in 2025

     $68533.5 million

    Forecast

     >4% CAGR during 2020-2025

    Regions Covered

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

    Countries/Subregions Covered

     USA, Canada, Mexico, Germany, France, UK, Italy, Russia, China, Japan, South Korea, India, Brazil, Argentina and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The market is segmented in the following ways:

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

    • Passenger Type
    • Light Commercial Vehicle
    • Medium- & Heavy-Duty Vehicle

    Automotive Suspension Market Size, Share & Forecast by System Type:

    • Passive Suspension System
    • Semi-Active Suspension System
    • Active Suspension System
    • Air Suspension System

    Automotive Suspension Market Size, Share & Forecast by Architecture Type:

    • Coil Spring
    • Leaf Spring
    • Air Spring
    • Shock Absorber
    • Strut
    • Control Arm
    • Ball Joint
    • Other Components

    Automotive Suspension Market Size, Share & Forecast by Region:

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

    Automotive-Suspension-Market-Segmentation

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    Report Features

    This report, from Stratview Research, studies suspension market in the global automotive industry over the period 2020 to 2025. 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 automotive suspension?

    Automotive Suspension is the system in which the tires, springs, linkages, and similar other components help in connecting the vehicle with the wheels and develop motion. Smoothening the ride and increasing vehicle life are some of the important functions of the system. Automotive Suspension system is most commonly known to increase the friction between the road and the tires for better stability. Thus, it accelerates better ride quality.

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

    Driven by a number of factors like increasing need for lightweight suspension system to achieve stringent regulations, the automotive suspension market is projected to reach an estimated value of $68533 million in 2025.

    Which country/region is expected to be the largest Automotive Suspension Market?

    In terms of region, Asia-Pacific is likely to remain the largest market during the forecast period of 2020-25.

    Which type of suspension system is expected to witness highest growth?

    Active suspension system is expected to witness the highest growth during the forecast period of 2020-25.

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