PORTLAND, Ore., Sept. 3, 2020
Advancements in technologies and rise in demand for luxury and comfort in vehicles propel the global automotive suspension market
PORTLAND, Ore., Sept. 3, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Automotive Suspension Market by System (Passive and Semi-active/Active), Component (Spring, Shock Dampener, Struts, Control Arms, Ball Joint, Leaf Spring, and Air Compressor), Geometry (Dependent, Semi-independent, and Independent), Suspension Type (Hydraulic Suspension, Air Suspension, and Leaf Spring), and Vehicle Type (Two-wheeler, Passenger Cars, and Commercial Vehicle): Global Opportunity Analysis and Industry Forecast, 2019–2027." According to the report, the global automotive suspension industry generated $55.28 billion in 2019, and is estimated to generate $73.36 billion by 2027, witnessing a CAGR of 3.5% from 2020 to 2027.
Download Report Sample (344 Pages PDF with Insights, Charts, Figures) at https://www.alliedmarketresearch.com/request-sample/1709
Drivers, restraints, and opportunities
Technological advancements, surge in demand for luxury and comfort in vehicles, and significant rise in vehicle production drive the global automotive suspension market. However, high cost of maintenance for advanced suspension systems and improving global standards for vehicles hinder the market growth. On the other hand, demand for lightweight suspension systems and creation of advanced suspension systems present new pathways in coming years.
The struts segment to maintain its dominant share during the forecast period
Based on component, the struts segment accounted for the highest market share in 2019, contributing to nearly one-third of the global automotive suspension market, and is projected to maintain its dominant share during the forecast period. This is attributed to the benefits of balancing the entire weight of the vehicles and surge in production of technically advanced components. However, the air compressor segment is expected to witness the highest CAGR of 5.3% from 2020 to 2027.
Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/1709
COVID-19 Scenario on Automotive Suspension Market:
Get Detailed COVID-19 Impact Analysis on the Automotive Suspension Market Request Here!
The hydraulic suspension segment to maintain its lead status during the forecast period
Based on suspension type, the hydraulic suspension segment held more than half of the global automotive suspension market in 2019, and is projected to maintain its lead status during the forecast period. This is due to its usage as a traditional type of suspension system in the automotive industry. However, the air suspension segment would register the fastest CAGR of 4.3% from 2020 to 2027, owing to shock-free and smooth ride provided on rough surfaces.
Schedule a Call with Our Analysts/Industry Experts to Find Solution for Your Business at https://www.alliedmarketresearch.com/connect-to-analyst/1709
Asia-Pacific, followed by North America, to maintain its lead position by 2026
Based on region, Asia-Pacific, followed by North America, held nearly two-fifths of the global automotive suspension market in 2019, and is expected to maintain its lead position by 2027. Moreover, this segment is expected to maintain the highest CAGR of 4.1% from 2020 to 2027. This is attributed to well-developed automotive industry in the region along with various developments related to vehicle components. The research also analyzes the regions including Europe and LAMEA.
Market players grabbing largest pie
Similar Reports: (10% Discount)
Air Suspension Market Key players including Continental, ThyssenKrupp AG, Hitachi, Wabco, Firestone Industrial Products, Hendrickson, Mando Corporation, BWI Group, SAF-Holland, Accuair Suspension and others holds major air suspension market share.
Automotive Advanced High Strength Steel Market: Key players includes AK Steel Holding Corporation, ArcelorMittal SA, Baoshan Iron & Steel Co. Ltd., Kobe Steel Ltd., Nucor, POSCO, SSAB AB, Tata Steel Ltd., ThyssenKrupp AG, and United Steel Corporation account for a major automotive AHSS (advanced high strength steel) share.
Luxury Car Market: Key players including Volkswagen AG, Daimler AG, Lexus, Infiniti, BMW AG, Volvo Car, Audi AG, Aston Martin Lagonda, Tesla, and Ferrari N.V., and others hold major luxury car market shares.
E-Axle Market: The key players operating in the E-Axle market include Robert Bosch GmbH, Nidec Corporation, ZF Friedrichshafen AG, GKN Plc, Schaeffler Technologies AG & Co. KG, Continental AG, Borgwarner Inc., AVL List GmbH, Axletech International, and Dana Limited.
Automotive Axle & Propeller Shaft Market: The market is segmented on the basis of axle & propeller shaft type, vehicle type, and geography.
Commercial Vehicle Axles Market: Key players profiled in the report include American Axle & Manufacturing (U.S.), Meritor (U.S.), DANA (U.S.), Benteler (Germany), RABA (Hungary), Axle Tech International (U.S.), SAF Holland (Luxembourg), PRESS KOGYO (Japan), Korea Flange (South Korea), and Ankai Futian Shuguang (China)
Automotive Chassis System Market: Some of the key players operating in the global automotive chassis system market include Continental AG, Robert Bosch GmbH, American Axle & Manufacturing, Inc., Magna International Inc., Benteler International AG, ZF Friedrichshafen AG, AISIN SEIKI Co., Ltd., Schaeffler AG, Hyundai Mobis, and Gestamp.
About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free):
1-800-792-5285, 1-503-894-6022, 1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn |