Automotive suspension Market

Automotive Suspension Market size reached USD 41.2 Billion in 2020 and is estimated to reach USD 55.5 Billion in 2028 and the market is estimated to grow at a CAGR of 3.8%.

To have an edge over the competition by knowing the market dynamics and current trends of “Automotive suspension Market”, request for Sample Report here

Major Automotive Suspension Market Drivers

Automotive suspension systems help in preventing any damage to vehicle components and offer a secure and comfortable driving experience, which stands to be a key driver fueling the automotive suspension market size. Ongoing technological advancements in vehicular components, growing demand for luxurious vehicles, and surging adoption of air suspension systems in HCVs will bolster the market growth. Further, growing awareness and demand for advanced features which include better comfort level, improved control over the vehicle, and safety against any potholes is projected to propel the market growth. However, automotive suspension systems need regular check owing to their contact with harsh road surfaces, thus, resulting in a high maintenance cost, hampering the Automotive Suspension Market share.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Function Segment Analysis

Active suspension is forecast to grow at a faster CAGR over the coming years, owing to its ability to adjust itself depending upon the changing road conditions. Also, active suspension system measures and controls vertical movement of the wheels relative to the vehicle body.

By Vehicle Type – Segment Analysis

Passenger car segment is forecast to witness a faster CAGR over the forecast period, owing to the accelerating production of passenger vehicles. Automotive suspension systems ensure comfort, convenience, and safety of drivers and passengers. With the growing concern towards safety of drivers, the installation of suspension systems in passenger cars has increased, driving the segment’s size. As per the Federation of Automobile Dealers Associations (FADA), the sales of passenger vehicle were estimated to be 2,71,249 units in December 2020 as compared to 2,18,775 units in December 2019, exhibiting a 23.99% growth.

By Components – Segment Analysis

Coil spring automotive suspension is predicted to hold a larger share over the forecast period, owing to their low cost, improved suspension, higher strength to weight ratio, better handling, excellent resilience to fatigue.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis:

Asia Pacific region is predicted to expand at a faster CAGR over the forecast period, owing to the enforcement of strategic norms and policies to boost automotive industry. For example, Chinese government in 2018 decided to involve foreign investors to remove equity caps on joint ventures for producers of commercial car. Further, rising safety concerns, emerging need to provide a comfortable driving experience, growing demand for luxury cars, and presence of leading producers are projected to propel the Automotive Suspension Market Growth.

Top Market Players

Various notable players operating in the market include, Continental AG, ZF Friedrichshafen AG, thyssenkrupp AG, Hitachi, Ltd., Mando Corp, MOBIS INDIA LIMITED, Marelli Holdings Co., Ltd., KYB Americas Corporation, Sogefi SpA, ZF Friedrichshafen AG, among others. 

Key Developments:

• • In March 2021, thyssenkrupp AG is expanding its presence in China the new damper production line is being built in China at an existing thyssenkrupp automotive site. The plant will produce electronically adjustable damping systems
  • In 2020, Continental AG developed sensors with air suspension for vehicle, which uses ultrasound to measure the height and pressure of air springs so that axle’s load condition can be determined.
  • In 2021, thyssenkrupp AG enlarged its presence in China by establishing a damper production line at an existent automotive site to produce electronically adjustable damping systems
  • In 2020, Continental AG launched sensors with air suspension for automotives that uses ultrasound to measure the height and pressure of air springs to determine the axle’s load condition.
  • In 2020, ZF Commercial Vehicle Control Systems division in India developed air suspension with Electronically Controlled Air Suspension (ECAS) technology to tackle problems including higher fuel consumption, minimal rider comfort, passenger security, and vehicular instability.
  • In January 2019, Tenneco Inc. acquired Öhlins Racing A.B, a Swedish technology company developing exclusive suspension systems and components for the automotive and motorsport industries.

Segments covered in the Report:

The Automotive suspension market has been segmented on the basis of Vehicle type, Components, Type, Function and regions. Based on Vehicle type, the market is segmented into Passenger Vehicles, Commercial Vehicles and Two-Wheelers. Based on Components, the market is segmented into Coil Spring, Leaf Spring, Air Spring, Shock Absorber and others. Based on Type, the market is segmented into Hydraulic Suspension, Air Suspension and Leaf Spring Suspension. Based on Function, the market is segmented into Active Suspension, Semi-Active Suspension and Passive Suspension. 

For detailed scope of the “Automotive suspension Market” report request a Sample Copy of the report

Market Segmentation

Global Automotive Suspension Market by Vehicle type

• • Passenger Vehicles
  • Commercial Vehicles
  • Two-Wheelers

Global Automotive Suspension Market by Components

• • Coil Spring
  • Leaf Spring
  • Air Spring
  • Shock Absorber
  • Others

Global Automotive Suspension Market by Type

• • Hydraulic Suspension
  • Air Suspension
  • Leaf Spring Suspension

Global Automotive Suspension Market by Function

• • Active Suspension
  • Semi-Active Suspension
  • Passive Suspension

Global Automotive Suspension Market by Region

• • North America Automotive Suspension Market (Option 1: As a part of the free 25% customization)

    • By Vehicle type
    • By Components
    • By Type
    • By Function
    • US Market All-Up
    • Canada Market All-Up

  • Europe Automotive suspension Market (Option 2: As a part of the free 25% customization)

    • By Vehicle type
    • By Components
    • By Type
    • By Function
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Automotive Suspension Market (Option 3: As a part of the free 25% customization)

    • By Vehicle type
    • By Components
    • By Type
    • By Function
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Automotive Suspension Market (Option 4: As a part of the free 25% customization)

    • By Vehicle type
    • By Components
    • By Type
    • By Function
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Automotive suspension (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Continental AG
  • ZF Friedrichshafen AG
  • thyssenkrupp AG
  • Hitachi, Ltd.
  • Mando Corp.
  • MOBIS INDIA LIMITED.
  • Marelli Holdings Co., Ltd.
  • KYB Americas Corporation
  • Sogefi SpA
  • ZF Friedrichshafen AG