Global Automotive Suspension System Market is valued at approximately USD XXX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2023-2030. An automotive suspension system refers to the collection of components and parts that work together to provide a comfortable, stable, and safe ride for the occupants of a vehicle. The main function of a suspension system is to absorb shocks and vibrations that are created when the vehicle is in motion, thus ensuring that the tires maintain contact with the road surface. This not only enhances ride comfort but also improves handling and vehicle stability, particularly during cornering, braking, and acceleration. The key factors such as surge in demand for electric & autonomous vehicles and rising demand for SUVs are anticipated to create a lucrative demand for the market during the forecast period.
Moreover, the rising demand for electric and autonomous vehicles is one of the key factors that is supporting the growth of the Automotive Suspension System Market. Electric vehicles (EVs) and autonomous vehicles (AVs) require specialized suspension systems that are designed to support the weight of the batteries and other electrical components. In addition, these vehicles often have higher power requirements than traditional gasoline-powered vehicles, which can put additional strain on the suspension system. According to International Energy Agency (IEA), in 2020, the number of electric vehicles sold in the United States was 295000 and the number increased significantly and reached 631000 in 2021. As a result, the rising demand for EVs is anticipated to propel the market growth. Additionally, technological advancements in automotive suspension systems are anticipated to create a lucrative opportunity for the market. However, the high capital and suspension costs along with shortage of raw materials stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Automotive Suspension System Market study include: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rising vehicle demand in the region, growing demand for aftermarket high-performance suspension kits and rising disposable income. Europe is expected to grow significantly during the forecast period, owing to factors such as presence of key market players, growing demand for electric vehicles and connected cars is driving the need for advanced suspension systems, thus propelling this market in this region.
Major market players included in this report are:
- KYB Corporation (Japan)
- ZF Friedrichshafen AG (Germany)
- ThyssenKrupp AG (Germany)
- Tenneco Inc. (U.S.)
- Continental AG (Germany)
- NHK Springs Co., Ltd. (Japan)
- Benteler International AG (Germany)
- HL Mando Corp. (South Korea)
- Sogefi Group (Italy)
- Marelli Corporation (Japan)
Recent Developments in the Market:
- April 2021, In the KADS application, an electronically controlled suspension system for snowmobiles, KYB Corporation announced its expansion. Core control and hydraulic technologies are integrated into the electronic suspension system. The upgraded system also has attitude control technology, which improves snowmobile vehicle handling.
Global Automotive Suspension System Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Component Type, Type, Vehicle Type, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Component Type:
- Coil Spring
- Leaf Spring
- Air Spring
- Shock Absorber
- Other Components
By Type:
- Passive Suspension
- Semi-active Suspension
- Active Suspension
By Vehicle Type:
- Passenger Car
- Commercial Vehicle
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Automotive Suspension System Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Automotive Suspension System Market, by Component Type, 2020-2030 (USD Billion)
- 1.2.3. Automotive Suspension System Market, by Type, 2020-2030 (USD Billion)
- 1.2.4. Automotive Suspension System Market, by Vehicle Type, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Automotive Suspension System Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Automotive Suspension System Market Dynamics
- 3.1. Automotive Suspension System Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Surge in demand for electric & autonomous vehicles
- 3.1.1.2. Rising demand for SUVs
- 3.1.2. Market Challenges
- 3.1.2.1. High capital and suspension costs
- 3.1.2.2. Shortage of raw materials
- 3.1.3. Market Opportunities
- 3.1.3.1. Technological advancements in automotive suspension system
Chapter 4. Global Automotive Suspension System Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Automotive Suspension System Market, by Component Type
- 5.1. Market Snapshot
- 5.2. Global Automotive Suspension System Market by Component Type, Performance - Potential Analysis
- 5.3. Global Automotive Suspension System Market Estimates & Forecasts by Component Type 2020-2030 (USD Billion)
- 5.4. Automotive Suspension System Market, Sub Segment Analysis
- 5.4.1. Coil Spring
- 5.4.2. Leaf Spring
- 5.4.3. Air Spring
- 5.4.4. Shock Absorber
- 5.4.5. Other Components
Chapter 6. Global Automotive Suspension System Market, by Type
- 6.1. Market Snapshot
- 6.2. Global Automotive Suspension System Market by Type, Performance - Potential Analysis
- 6.3. Global Automotive Suspension System Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 6.4. Automotive Suspension System Market, Sub Segment Analysis
- 6.4.1. Passive Suspension
- 6.4.2. Semi-active Suspension
- 6.4.3. Active Suspension
Chapter 7. Global Automotive Suspension System Market, by Vehicle Type
- 7.1. Market Snapshot
- 7.2. Global Automotive Suspension System Market by Vehicle Type, Performance - Potential Analysis
- 7.3. Global Automotive Suspension System Market Estimates & Forecasts by Vehicle Type 2020-2030 (USD Billion)
- 7.4. Automotive Suspension System Market, Sub Segment Analysis
- 7.4.1. Passenger Car
- 7.4.2. Commercial Vehicle
Chapter 8. Global Automotive Suspension System Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Automotive Suspension System Market, Regional Market Snapshot
- 8.4. North America Automotive Suspension System Market
- 8.4.1. U.S. Automotive Suspension System Market
- 8.4.1.1. Component Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. Vehicle Type breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Automotive Suspension System Market
- 8.5. Europe Automotive Suspension System Market Snapshot
- 8.5.1. U.K. Automotive Suspension System Market
- 8.5.2. Germany Automotive Suspension System Market
- 8.5.3. France Automotive Suspension System Market
- 8.5.4. Spain Automotive Suspension System Market
- 8.5.5. Italy Automotive Suspension System Market
- 8.5.6. Rest of Europe Automotive Suspension System Market
- 8.6. Asia-Pacific Automotive Suspension System Market Snapshot
- 8.6.1. China Automotive Suspension System Market
- 8.6.2. India Automotive Suspension System Market
- 8.6.3. Japan Automotive Suspension System Market
- 8.6.4. Australia Automotive Suspension System Market
- 8.6.5. South Korea Automotive Suspension System Market
- 8.6.6. Rest of Asia Pacific Automotive Suspension System Market
- 8.7. Latin America Automotive Suspension System Market Snapshot
- 8.7.1. Brazil Automotive Suspension System Market
- 8.7.2. Mexico Automotive Suspension System Market
- 8.8. Middle East & Africa Automotive Suspension System Market
- 8.8.1. Saudi Arabia Automotive Suspension System Market
- 8.8.2. South Africa Automotive Suspension System Market
- 8.8.3. Rest of Middle East & Africa Automotive Suspension System Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. KYB Corporation (Japan)
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. ZF Friedrichshafen AG (Germany)
- 9.3.3. ThyssenKrupp AG (Germany)
- 9.3.4. Tenneco Inc. (U.S.)
- 9.3.5. Continental AG (Germany)
- 9.3.6. NHK Springs Co., Ltd. (Japan)
- 9.3.7. Benteler International AG (Germany)
- 9.3.8. HL Mando Corp. (South Korea)
- 9.3.9. Sogefi Group (Italy)
- 9.3.10. Marelli Corporation (Japan)
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption