Automotive Suspension Market (Type - Dependent Suspension, Semi-dependent Suspension, and Independent Suspension; Actuation - Air Actuation Suspension, and Hydroelastic Actuation Suspension; Vehicle - Passenger, and Commercial): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

A recent report published by Infinium Global Research on the automotive suspension market provides in-depth analysis of segments and sub-segments in the global as well as regional automotive suspension market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automotive suspension market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global automotive suspension market. According to the report, the global automotive suspension market is projected to grow at a CAGR of 3.86%% over the forecast period of 2020-2026.

Market Insight

The suspension system is the most crucial part of the vehicle besides the engine. The main function of the suspension system is to amplify the contact between the road surface and the vehicle. It tends to reduce the impact of the shocks that a vehicle bears while traveling. It turns the vehicle in response to steering input from the driver offering good handling and control over the vehicle. The suspension is responsible for the ride quality of the vehicle. A good ride quality lessens the fatigue of a driver, ensures the safety of the cargo, and provides good quality to passengers. The Automotive Suspension consists of tires, springs, shock absorbers, struts, linkages, bushing, bearings, and joints. The suspension system is used within a range of vehicles from light passenger vehicles to heavy commercial vehicles. The safety of the vehicle can be partly measured through the quality of the suspension system that a vehicle possesses.

The Covid-19 pandemic affected the automotive suspension market severely. The closure of manufacturing plants as a result of nationwide lockdowns resulted in the disruption of supply chains and shortage in the inventories. The closing of automotive manufacturing facilities due to the COVID-19 pandemic also affected the market. The Covid-19 pandemic also affected the economic stability of the people which shifted their consumption preferences. This caused a fall in demand for motives which directly meant a fall in the demand for suspension systems. As the manufacturing plants are reopening and the economies are recovering the market is poised to recover.  Upgradation of the existing infrastructure and an increasing number of new infrastructure projects such as highways, roads. Expansion of the industries and increasing urbanization. The automotive sector is experiencing growth in demand. With the rise in disposable income of people, they are preferring buying passenger cars. The requirement of heavy commercial trucks for the transportation of materials and goods of the industrial sector is also high. Thus this is causing an upsurge in the demand for vehicles as a result the demand for suspension systems has also increased. This is primarily driving the market. The only thing that is restraining the market is the high cost of maintenance involved throughout the life of the suspension system. Technological advancements such as smart suspension systems, the introduction of lightweight materials to reduce the weight of the suspension system are providing many opportunities for the market.

Asia-Pacific is anticipated to be the highest revenue-generating region of the market. This region houses major leading economies of the world like India, China, Vietnam, and others. The rising per capita income coupled with the rising level of standard of living, improving infrastructure, has increased the urge of people for private comfortable transportation. Thus, this has fueled the demand for automotive. Europe and North America are expected to be the second and third-largest revenue-generating region. Both regions have countries whose economies are in an advanced stage and people are consuming and spend more. So the demand for automotive vehicles is always high.

Segment Covered

The report on the global automotive suspension market covers segments such as type, actuation, and vehicle. On the basis of type, the sub-markets include dependent suspension, semi-dependent suspension, and independent suspension. On the basis of actuation, the sub-markets include air actuation suspension, and hydroelastic actuation suspension. On the basis of vehicle, the sub-markets include passenger, and commercial.

Companies Profiled:

The report provides profiles of the companies in the market such as Hendrickson International, LORD Corporation, Continental AG, ThyssenKrupp Technologies AG, KYB Corporation, Fichtel & Sachs, Tenneco, Inc., WABCO Holdings, Inc., Magneti Marelli S.p.A., and Hitachi, Ltd.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the automotive suspension market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.