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Automotive Suspension Market Size
- Report ID: GMI1917
- Published Date: May 2020
- Report Format: PDF
Automotive Suspension Market Size
Automotive Suspension Market size surpassed USD 549.6 billion in 2019 and is estimated to exhibit over 7.8% CAGR between 2020 and 2026. Increasing need to improve vehicle control and offer smooth ride experience to the passengers will drive the market demand.
The changing paradigm of automotive production and increasing consumer demands will require automotive manufactures to employ effective performance features within vehicles. The OEMs are investing in research & development activities to integrate innovative technology within suspension systems to enhance steering stability and offer comfortable ride. Such trends will spur automotive suspension market growth.
High maintenance costs associated with automotive suspension systems may hamper the market growth. The components of automotive suspension system need to be periodically checked as these parts are constantly in contact with harsh road surfaces. Further, temporary closure of manufacturing facilities of vehicles and components to prevent coronavirus spread will adversely affect the market revenue.
| Report Attribute | Details |
|---|---|
| Base Year: | 2019 |
| Automotive Suspension Market Size in 2019: | 549,629.8 Million (USD) |
| Forecast Period: | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR: | 7.8% |
| 2026 Value Projection: | 696,468.5 Million (USD) |
| Historical Data for: | 2016 to 2019 |
| No. of Pages: | 245 |
| Tables, Charts & Figures: | 378 |
| Segments covered: | Architecture, Type, Technology, Distribution Channel and Vehicle Type |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Automotive Suspension Market Scope
