Global Automotive Suspension Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By System;

Passive System and Semi Active/Active System.

By Component;

Spring, Shock Dampener, Struts, Control Arms, Ball Joint, Leaf Spring and Air Compressor.

By Vehicle Type;

Two-wheeler, Passenger Cars and Commercial Vehicle.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn188681017 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Automotive Suspension Market (USD Million), 2020 - 2030

In the year 2023, the Global Automotive Suspension Market was valued at USD 45,669.76 million. The size of this market is expected to increase to USD 57,323.27 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 3.3%.

The global automotive suspension market is a vital segment of the automotive industry, playing a crucial role in ensuring vehicle stability, comfort, and safety. As vehicles traverse various terrains, the suspension system absorbs shocks and maintains tire contact with the road, thereby enhancing control and ride quality. The market has seen significant growth due to the rising demand for vehicles, technological advancements, and the increasing focus on passenger comfort and safety.

One of the key drivers of the automotive suspension market is the surge in global vehicle production and sales. As economies grow and urbanization intensifies, there is a heightened demand for both passenger and commercial vehicles. This, in turn, propels the demand for advanced suspension systems that can offer superior performance and comfort. Additionally, the rise of electric and autonomous vehicles has introduced new dynamics into the market, necessitating innovative suspension technologies tailored to these new vehicle architectures.

Technological advancements have also played a pivotal role in the evolution of the automotive suspension market. The development of adaptive and semi-active suspension systems, which can adjust the damping characteristics in real-time based on road conditions and driving behavior, has significantly improved vehicle dynamics and passenger comfort. Furthermore, the integration of electronic components and advanced materials has led to more durable, efficient, and lightweight suspension systems, catering to the stringent regulatory requirements for fuel efficiency and emission reductions.

The increasing focus on safety and regulatory compliance has fueled the growth of the automotive suspension market. Governments across the globe are implementing stringent safety standards, compelling manufacturers to adopt advanced suspension systems that enhance vehicle stability and reduce the risk of accidents. In addition, consumer awareness regarding vehicle safety features has risen, further boosting the demand for high-quality suspension systems. As a result, the market is expected to continue its upward trajectory, driven by ongoing innovations and the growing emphasis on safety and comfort in the automotive sector.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By System
    2. Market Snapshot, By Component
    3. Market Snapshot, By Vehicle Type
    4. Market Snapshot, By Region
  4. Global Automotive Suspension Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Rising Vehicle Production
        2. Increasing Consumer Demand
        3. Advancements in Technology
        4. Stringent Safety Regulations
        5. Improved Ride Comfort
      2. Restraints
        1. High Manufacturing Costs
        2. Fluctuating Raw Material Prices
        3. Complex Installation Process
        4. Market Saturation Risks
        5. Limited Aftermarket Options
      3. Opportunities
        1. Electric Vehicle Growth
        2. Autonomous Driving Innovations
        3. Emerging Market Expansion
        4. Lightweight Material Adoption
        5. Customization and Upgrades
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Automotive Suspension Market, By System, 2020 - 2030 (USD Million)
      1. Passive System
      2. Semi Active/Active System
    2. Global Automotive Suspension Market, By Component, 2020 - 2030 (USD Million)
      1. Spring
      2. Shock Dampener
      3. Struts
      4. Control Arms
      5. Ball Joint
      6. Leaf Spring
      7. Air Compressor
    3. Global Automotive Suspension Market, By Vehicle Type, 2020 - 2030 (USD Million)
      1. Two-wheeler
      2. Passenger Cars
      3. Commercial Vehicle
    4. Global Automotive Suspension Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Continental AG
      2. Fox Factory, Inc.
      3. Gabriel India Limited
      4. Hendrickson USA, L.L.C.
      5. KYB Corporation
      6. Mando Corporation
      7. Sogefi S.P.A.
      8. Tenneco INC.
      9. Wabco
      10. ZF TRW
      11. Xsens Technologies BV
  7. Analyst Views
  8. Future Outlook of the Market