Vehicle Suspension Market

Vehicle Suspension Market 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, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028

Frequently Asked Questions

  • What is the global demand for Vehicle Suspension in terms of revenue?

    The global Vehicle Suspension valued at 35.43 Billion in 2020 and is expected to reach 51.38 Billion in 2028 growing at a CAGR of 4.10%%

  • Which are the prominent players in the market?

    The prominent players in the market are Benteler, Mando, KYB, Magneti Marelli, Thyssenkrupp, Tenneco, Sogefi, Continental, BHK Springs, ZF..

  • At what CAGR is the market projected to grow within the forecast period?

    The market is project to grow at a CAGR of 4.10%% between 2021 and 2028.

  • What are the driving factors fueling the growth of the market.

    The driving factors of the Vehicle Suspension include

    • 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.

  • Which region accounted for the largest share in the market?

    Asia Pacific was the leading regional segment of the Vehicle Suspension in 2020.

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