Vehicle Suspension Market
Vehicle Suspension Market Global Industry Assessment & Forecast
Segments Covered
- 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
Snapshot
Forecast Years: | 2021 - 2028 |
Historical Years: | 2016 - 2020 |
Revenue 2021: | 35.43 Billion |
Revenue 2028: | 51.38 Billion |
Revenue CAGR (2021 - 2028): | 4.10% |
Fastest Growing Region (2022 - 2028) | Asia Pacific |
Customization Offered
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
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.
Global Vehicle Suspension Market: Component Type Segment Analysis
-
- Coil Spring
- Leaf Spring
- Air Spring
- Shock Absorber
- Other Components
Global Vehicle Suspension Market: Type Segment Analysis
-
- Passive Suspension
- Semi-active Suspension
- Active Suspension
Global Vehicle Suspension Market: Vehicle Type Segment Analysis
-
- Passenger Car
- Commercial Vehicle
FAQ
Frequently Asked Question
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.