Vehicle Suspension Market

The global Vehicle Suspension market was valued at USD 35.43 Billion in 2020 and is projected to reach USD 51.38 Billion by 2028, growing at a CAGR of 4.10%% from 2021 to 2028.

Vehicle suspension designers are challenged to achieve a compromise between the conflicting dynamic ride, handling and control performance requirements. While enhancement of rollover threshold and directional control performance requires relatively stiff suspension, softer suspension is desirable to achieve good ride performance.

This report provides an exhaustive analysis on all aspects of Vehicle Suspension industry including the market size for historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report covers dedicated chapters for each main segment while dedicated sections for each region cover thorough information on the drivers, restraints, opportunities and other such factors impacting global Vehicle Suspension market. Moreover, the report also covers in depth analysis on various marketing tools such as Porter’s Five Forces Analysis, Pricing Analysis, SWOT Analysis, PESTLE Analysis, and Player Positioning Analysis, among others. These tools are expected to aid the industry stakeholders in their decision making. 

When the Covid19 pandemic started in China last year it sends its shock waves to countries across the globe. And as the number of cases was on the rise, it enforced the governments across the world to take severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the impending catastrophe. These actions had a dramatic impact on the economy, as the industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. Thus, plummeting the global markets. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The report covers exhaustive analysis on the global Vehicle Suspension industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. The report provides a detailed study on various product types and their applications in different industry verticals at the global/regional/country level. This study comprises the market size in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities. 

The increase in demand for vehicle comfort and safety by the consumers is anticipated to augment the vehicle suspension market during the forecast period. The demand for SUVs has witnessed a significant growth in the past few years. This is owing to the low cost, compact size, advanced designs, and better manoeuvrability of these vehicles. This has also increased the installation of multilink suspensions in the automobiles. Due to the employment of independent suspension at the front and rear wheel in SUVs, the demand for independent suspension systems are growing. Hence, the increasing demand for comfort and luxury is anticipated to increase the demand and growth for vehicle suspension systems market. 

The rising sale of electric vehicles is anticipated to augment the global vehicle suspension market in the years to come. This is attributable to the government subsidies and purchase shares on non-electric vehicles in huge cities. Furthermore, the presence of major companies in electric vehicle sector, such as Nissan, Tesla, Chevrolet and Toyota, among others mainly in the United States, United Kingdom, Germany, and China is anticipated to support the growth of the market over the forecast period. 

The lack of standardization of independent suspension systems is expected to hamper the growth of the vehicle suspension market in the years to come. The standardization of suspension systems with respect to vehicle type will help component manufacturers to produce suspension systems in large volumes which is expected to reduce the overall manufacturing cost. Due to a lack of standardization manufacturers have to observe changes in preferences in different countries and remain competitive in the market. With any change in preference manufacturers have to change their investment, which makes the market unstable for them. Hence, this is expected to hinder the growth of the automotive suspension market in the years to come.

The report delivers an acute breakdown of the market based on various segments such as Component Type, Type, Vehicle Type and Region. All the segments are studied considering historical and future trends across geographies. All the segments are analyzed based on trends, market size, and forecast, and the data is provided for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report.

On the basis of Component Type, the market is divided into Coil Spring, Leaf Spring, Air Spring, Shock Absorber, Other Components. Leaf Spring held the largest share in 2020 and is projected to grow at a noteworthy CAGR within the forecast period.

Based on Type, the market is divided into Passive Suspension, Semi-active Suspension, Active Suspension. Semi-active Suspension attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Based on the geography, the global Vehicle Suspension market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The report further segments the regional study into key country-level markets from each region. The report includes a separate section covering detailed Vehicle Suspension regional analysis based on various macro/micro factors impacting the growth of the market. The concentration of raw material suppliers as well as market players in one specific region impacts the global market scenario and the report covers exclusive information on the same.  Also, the report analyzes the intensity of competition in each region and its influence on the growth of the global Vehicle Suspension market.     

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The global Vehicle Suspension market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Vehicle Suspension market are Benteler, Mando, KYB, Magneti Marelli, Thyssenkrupp, Tenneco, Sogefi, Continental, BHK Springs, ZF.. This section of the report will provide you extensive information on all key players based on business overview, product portfolio, marketing strategies, recent developments, financial performance, and geographical presence among others. Moreover, the report will also include extensive analysis on key strategies adopted by market players such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.