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Automotive Suspension Market Size

Report ID: GMI1917
Published Date: May 2020
Report Format: PDF

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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.

Automotive Suspension Market

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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.

Automotive Suspension Market Report Attributes
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:	Rising need of passenger comfort within vehicles Technological advancements associated with suspension systems Growing demand from aftermarket Increasing adoption of high-end and luxury vehicles
Pitfalls & Challenges:	High maintenance costs of suspension systems Temporary closure of manufacturing facilities due to COVID-19

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Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of automotive suspension was valued over USD 549.6 billion in 2019.

The industry share of automotive suspension is projected to witness 7.8% growth rate during 2020 to 2026.

Two-wheeler segment will observe growth of over 8% in the market through 2026, led by increasing adoption of motorcycles in emerging and developed nations.

According to the analysts at GMI, Asia Pacific leads the market size owing to presence of large number of vehicle and component manufacturers.

The key industry players are KYB Corporation, Tenneco, ZF Friedrichshafen AG, Continental AG, Mando Corporation, Magneti Marelli S.p.A., Showa Corporation, Ohlins USA Inc., Endurance Technologies and Hendrickson.