Stratview Research announces the launch of a new market research report on Global Automotive Suspension Market by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium & Heavy Duty Commercial Vehicle), by System Type (Passive, Semi-Active, Active, and Air Suspension), by Architecture Type (Dependent and Semi-Independent / Independent), by Damping Type (Hydraulic / Pneumatic and Electromagnetic), by Component Type (Coil Spring, Leaf Spring, Air Spring, Shock Absorber, Strut, Control Arm, Ball Joint, and Others), and by Region (NA, Europe, APAC, ROW), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2016 – 2021.
This market report from Stratview Research studies the automotive suspension market over the period 2010 to 2021. The research 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.
The Global Automotive Suspension Market: Highlights
Stratview Research foresees a healthy growth of CAGR 4.3% in the automotive suspension market over the next five years (2016 – 2021) to reach $64 billion in 2021, which offers an opportunity to the automotive industry players to align themselves with the market growth.
There are several factors bolstering the growth of suspension market in the global automotive industry. The author of the report cited increasing annual production of passenger cars, light commercial vehicles, and medium & heavy duty commercial vehicles, increasing global 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 as some of the major drivers of the market.
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.
As per the study, passive suspension was the most widely used system type in all the vehicle segments in 2015, however, active suspension is expected to possess the highest growth during the forecast period. Semi-independent / independent architecture dominated the global automotive suspension market in 2015 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.
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.
In terms of region, Asia-Pacific dominated the global automotive suspension market in 2015 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.
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, and Rassini.
This industry research report from Stratview Research provides market intelligence in the most comprehensive manner. 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 research report:
Avail free customization options which are listed in the link given below along with the detailed Table of Contents and Report Description.
Free customization options for market research report on global automotive suspension market
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