The global automotive suspension market is expected to reach $79.0 billion by 2023


   March 27 2018
According to a new market report published by Lucintel, the future of the global automotive suspension market looks promising with opportunities in the passenger car, light commercial vehicle and heavy commercial vehicle segments. The global automotive suspension market is expected to reach an estimated $79.0 billion by 2023 and it is forecast to grow at a CAGR of 5.3% from 2018 to 2023. The major drivers of growth for this market are increasing vehicle production, increasing need for improved ride quality, and the growing demand for advanced safety and convenience systems.

Browse 110 market data Tables and 139 Figures spread through 209 Pages and in-depth TOC on "Automotive Suspension Market" http://www.lucintel.com/automotive-suspension-market-2018-2023.aspx

By vehicle type, passenger car, light commercial vehicle and heavy commercial vehicle are the major segments of the automotive suspension market On the basis of its comprehensive research, Lucintel forecasts that the passenger car segment will show above average growth during the forecast period.

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By system, passive suspension system, active suspension system, and semi-active suspension system are the major segments of the automotive suspension market. Passive suspension system is the largest segment but active suspension system is expected to grow faster as it works by constantly sensing changes in the road surface and feeding the information through ECU to the outlying components. Thus these components help in adjusting shock stiffness and spring rates thereby improving ride comfort, which results in increaseing safety and comfort of the passengers

 By end user, OEM and aftermarket are the major segments of the global automotive suspension market. OEM is expected to remain the largest segment due to increasing automotive production and increasing demand for lightweight suspension components during the forecast period.

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Steel, composites and other materials are used in the global automotive suspension market. Steel is used globally by automakers so as to achieve desired strength at an economical price.

APAC is expected to remain the largest region and register the highest growth rate due to higher vehicle production, increasing government regulations for safety and security, and consumer demand for improved suspensions during the forecast period.

Emerging trends, which have a direct impact on the dynamics of the industry, include the development of lightweight suspensions, the introduction of electronic suspension technology, and the introduction of energy recovery suspension systems. Benteler International, Tenneco Inc., ZF Friedrichshafen AG, KYB Corporation, and Magneti Marelli S.p.A are the major suspension suppliers in the global automotive suspension market.

The study includes a forecast for the global automotive suspension market by vehicle type, system type, damping type, end user, material type, and region, as follows:

 

By Vehicle Type ($ Billion from 2012 to 2023)                                                                                  



  • Passenger Car


    • Small Car


    • Compact Car


    • Mid-Size Car


    • Large Car




  • Light Commercial Vehicle        


    • SUVs and Crossovers


    • MPVs


    • Pickups




  • Heavy Commercial Vehicle


By System ($ Billion from 2012 to 2023)



  • Passive Suspension System


  • Active Suspension System


  • Semi-Active Suspension System


By Damping Type ($ Billion from 2012 to 2023)



  • Hydraulic Suspension


  • Air Suspension


  • Leaf Spring Suspension


  • Others


By End User ($ Billion from 2012 to 2023)



  • OEM                


  • Aftermarket                                                               


By Material Type ($ Billion 2017)



  • Steel


  • Composites


  • Others             


By Region ($ Billion and Million Units from 2011 to 2023)



  • North America


  • Europe


  • Asia Pacific


  • The Rest of the World


This 209-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 click on this link http://www.lucintel.com/toc/automotive-suspension-market-2018-2023.aspx or email us at helpdesk@lucintel.com

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