Suspensions are significant part in a vehicle that helps in preventing the damage to the vehicle components, and enables comfortable driving and safety. Automotive suspension system includes spring, wishbones and shock absorber which help to filter all the forces between the body and the road. These suspensions also offer isolation to the vehicle from high-frequency vibrations. Automotive suspension offers better ride and handling performance and also helps in ensuring that the vehicle responds positively to control the forces produced by the tire at the time of acceleration and braking.
"Global Automotive Suspension Market Analysis to 2028"
is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the automotive suspension market with detailed market segmentation by vehicle type, component, suspension type, system type, and geography. The report provides key statistics on the market status of the leading automotive suspension market players and offers key trends and opportunities in the market.
- Based on vehicle type, the global automotive suspension market is segmented into passenger car, light commercial vehicle and heavy commercial vehicle.
- On the basis of component, the market is segmented into spring, shock dampener, struts, control arms, ball joint and leaf spring and air compressor.
- Based on suspension type, the market is bifurcated into hydraulic suspension, air suspension and leaf spring suspension.
- On the basis of system type, the market is segmented into passive suspension. semi active suspension and active suspension.
- Increasing production of commercial and passenger vehicles all over the world.
- Rising urbanization and increasing per capita disposable income to boost the market growth of automotive suspension.
- Growing demand for comfortable driving experience and increasing awareness about safety.
- Unorganized retail sector in few developing countries
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive suspension market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive suspension market in these regions.
IMPACT OF COVID-19 ON AUTOMOTIVE SUSPENSION MARKET
The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. Due to the pandemic of COVID-19, movement of people from one place to another was restricted to great extent. This has hampered the production of vehicles all over the world and impacted the automotive suspension market negatively.
The report covers key developments in the automotive suspension market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from automotive suspension market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive suspension in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive suspension market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ANAND Group
- Continental AG
- Hendrickson USA, L.L.C.
- KYB Corporation
- MAGNETI MARELLI PARTS & SERVICES
- NHK SPRING Co.,Ltd.
- Parker Hannifin Corp
- Sogefi SpA
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.