Insights and Prediction of Auto Suspension System Global Market Report (2019-2026)
The newly Auto Suspension System market report provided a complete view of the present and future market. Deep analysis of enterprise competition pattern, enterprise product advantages and disadvantages, regional industrial layout characteristics. The base year considered for the study is 2018 and the market size is projected from 2019 to 2026.
Product Information
The primary functions of the suspension system include maximizing the contact between the tires and the road surface, providing steering stability and good handling, evenly supporting the weight of the vehicle (including the frame, engine, and body), and ensuring the comfort of passengers by absorbing and dampening shock. The suspension system consists of tires, the air in the tires, springs, shock absorbers, struts, arms, bars, linkages, bushings, and joints. The suspension system components are located between the frame of the vehicle and the road. Well-tuned suspensions will absorb bumps and other imperfections in the road allowing the people inside the vehicle to travel safely and comfortably.
On the basis of products, the various types include Non-Independent Suspension, and Independent Suspension.
On the basis of application, the Auto Suspension System market is segmented into Freight Transport, Passenger Transport, Vocational, and Others.
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Market Insights
According to a new research study, the Auto Suspension System market size is expected to reach USD 366,977 million by 2026 from USD 259,072 million in 2019, with a compound annual growth rate of 5.10% during the forecast period.
Increased safety regulations, the arrival of innovative suspension systems and rising demand for commercial and passenger vehicles are some of the key factors supporting the global automotive suspension system market. Meanwhile, increasing use of lightweight materials in the suspension system and demand for regenerative suspension system for electric and hybrid vehicles is creating lucrative market opportunities. Yet, the continuous strength of global vehicle standards and high maintenance cost of advanced suspension systems could hinder the market's growth.
Regional Segment Analysis
The report focuses on detailed analysis of major regions like North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Columbia), and Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa).
Asia-Pacific is the largest sales volume market for the automotive suspension system, with a revenue market share nearly 49.55% in 2018. The next is Europe and North America, accounting for 23.77% and 20.61% respectively. The growth in Asia-Pacific is mainly attributed to the implementation of stringent vehicular safety norms, rise in awareness of safe and comfortable vehicles, and growth in buying power of consumers in the emerging markets such as India, Malaysia, and China to adopt advance automotive suspension technologies. Moreover, the availability of low-cost labor and raw material has been an attractive prospect for foreign manufacturers. The region will continue to present attractive opportunities to market players over the next couple of years.
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Competitive Players
The leading vendors in the market are Sachs (ZF) (DE), Mando (KR), Tenneco (US), Magneti Marelli (IT), and ThyssenKrupp (DE). Other prominent vendors in the market are Benteler (AT), Hendrickson (US), F-TECH INC (JP), BWI (CN), WABCO (BE), ANAND (IN), Dongfeng Motor Suspension (CN), Wanxiang Qianchao (CN), CVCT (CN), Fawer Automotive Parts (CN), Fangzheng Machinery (CN), Shanghai Komman (CN), Hongyan Fangda (CN), and others.
The global auto suspension system market is characterized by a large number of suppliers. The influence of some market participants abroad is impressive. Larger brands are cooperating with domestic suppliers to further consolidate their market position. Joint ventures and cooperation are the main growth strategies adopted by market participants. In addition, investment in product innovation and R&D projects is still a key area.
Key questions answered in the report
l What will the market size and growth rate be in 2026?
l What segment or region will drive or lead the market growth and what are the reasons?
l How will market drivers, constraints and future opportunities affect market dynamics and subsequent analysis of relevant trends?
l What key strategies are used by top vendors to increase revenue?
Target Audience for this Report
l Technology providers
l Auto Suspension System manufacturers
l Auto Suspension System traders, distributors, and suppliers
l Auto Suspension System industry associations
l Product managers, Auto Suspension System industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
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Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Auto Suspension System Market
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2 Market Trends and Competitive Landscape
3 Segmentation of Auto Suspension System Market by Types
4 Segmentation of Auto Suspension System Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Auto Suspension System Market in Major Countries
7 North America Auto Suspension System Landscape Analysis
8 Europe Auto Suspension System Landscape Analysis
9 Asia Pacific Auto Suspension System Landscape Analysis
10 Latin America, Middle East & Africa Auto Suspension System Landscape Analysis
11 Major Players Profile
11.1 Sachs (ZF) (DE)
11.1.1 Sachs (ZF) (DE) Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 Mando (KR)
11.3 Tenneco (US)
11.4 Magneti Marelli (IT)
11.5 ThyssenKrupp (DE)
11.6 Benteler (AT)
11.7 Hendrickson (US)
11.8 F-TECH INC (JP)
11.9 BWI (CN)
11.10 WABCO (BE)
11.11 ANAND (IN)
11.12 Dongfeng Motor Suspension (CN)
11.13 Wanxiang Qianchao (CN)
11.14 CVCT (CN)
11.15 Fawer Automotive Parts (CN)
11.16 Fangzheng Machinery (CN)
11.17 Shanghai Komman (CN)
11.18 Hongyan Fangda (CN)
…
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