Stratview Research announces the launch of a new research report on Global Automotive Composite Suspension Components Market by Component Type (Leaf Spring, Coil Spring, Suspension Arm, Stabilizer Bar, and Others), by Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Duty Commercial Vehicle, and Others), by Manufacturing Process Type (Compression Molding, HP-RTM, Prepreg Layup, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017-2022.
This market report, from Stratview Research, studies the composite suspension components market in the global automotive industry over the period 2011 to 2022. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Composite Suspension Components Market in the Global Automotive Industry: Highlights
As per Stratview Research, the global composite suspension components market offers an impressive during the forecast period of 2017 to 2022 and reach US$ 83.7 million in 2022, which offers an opportunity to the automotive and composites industry players to align themselves with the market growth.
There are several factors bolstering the growth of composite suspension components in the global automotive industry. The author of the report cited organic growth of automobile production, growing preference for composite components in passenger and light commercial vehicles, development of new composite suspension applications, an advancement in the composites technology, and stringent government regulations regarding fuel efficiency and carbon emission reductions as the major growth drivers of the market.
Composite leaf springs are expected to remain the largest segment in the global automotive suspension components 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.
LCV, currently, dominates the global automotive composite suspension components market because of higher usage of composite leaf springs in LCVs. However, 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.
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In terms of region, 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. Asia-Pacific is a relatively small market but is expected to experience the highest growth during the same period.
As per the study, the global automotive composite suspension components market is highly consolidated with the presence of less than a dozen global players. The key composite component manufacturers for suspension system 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.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the global automotive composite suspension components market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the four ways in which the market is segmented:
Global Automotive Composite Suspension Components Market by Component Type:
Global Automotive Composite Suspension Components Market by Vehicle Type:
Global Automotive Composite Suspension Components Market by Manufacturing Process Type:
Global Automotive Composite Suspension Components Market by Region:
Stratview Research has several high value market reports in the automotive industry. Please refer to the following link to browse through our reports:
Click Here for Other Reports from Stratview Research in the Automotive Industry
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