Luton, Bedfordshire, United Kingdom, June 27, 2024 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Automotive Suspension market
The global Automotive Suspension market is expected to grow from USD 58.25 Billion in 2023 to USD 75.62 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 3.80 % during the forecast period.
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The automotive suspension systems sector is highly competitive, featuring a blend of global leaders, local specialists, and innovative startups driven by technology. Key factors fueling competitiveness in this dynamic industry include collaboration, innovation, customization, and sustainability. Adaptability to evolving customer preferences, technological advancements, and regulatory shifts is critical for thriving in this fiercely competitive landscape.
Companies such as Continental AG,Tenneco Inc.,ZF Friedrichshafen AG,KYB Corporation,Magneti Marelli S.p.A.,Schaeffler AG,Thyssenkrupp AG,Mando Corporation,BWI Group,Showa Corporation,Gabriel India Limited,Hitachi Automotive Systems, Ltd.,Fox Factory Holding Corp.,WABCO Holdings Inc.,Sogefi S.p.A.,Hendrickson International Corporation,Benteler International AG,Multimatic Inc.,Meritor, Inc.,and Knorr-Bremse AG are prominent global players with significant regional influence. They offer an extensive range of suspension systems and components, encompassing advanced electronically controlled systems as well as traditional shock absorbers.
The report also highlights the key driving factors and restraints that are impacting the growth. For a comprehensive understanding, the professionals have reviewed the regulatory scenario, market entry strategies, best industry practices, pricing strategy, technology landscape, and consumption, sales, and demand outlook. Y-o-Y growth estimates have also been included to provide the users with accurate statistics and facts. This report will give the readers a bigger and see-through picture of the overall scenario.
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Recent Developments
In May 2023, LG Electronics Inc. launched a connected vehicle alarm system, LG MyCar Alarm Service. It integrates with Infoconn, the connected car service as mobile application of KG Mobility & developed in response to increasing demand from automotive companies and consumers for vehicle-integrated mobility services.
In April 2023, the Chinese electric vehicle (EV) manufacturer BYD unveiled a brand-new innovation known as the DiSus Intelligent Body Control System, or DiSus. The suspension and body control software promises to enhance the driving experience of BYD's electric vehicles.
In December 2022, BMW submitted a patent application to the German Patent Office for a brand-new regenerative suspension system.
Report Scope:
| ATTRIBUTE | DETAILS |
| Study period | 2020-2030 |
| Base year | 2022 |
| Estimated year | 2023 |
| Forecasted year | 2023-2030 |
| Historical period | 2019-2021 |
| Unit | Value (USD Billion) Volume (Thousand Units) |
| Segmentation | By System Type, Component Type, Suspension Type, Vehicle Type and Region |
| Passive | |
| By System Type | Active |
| Semi-Active | |
| Spring | |
| Shock Dampener | |
| By Component Type | Ball Joint |
| Air Compressor | |
| Leaf Spring | |
| Others | |
| Hydraulic Suspension | |
| By Suspension Type | Air Suspension |
| Leaf Spring | |
| Two Wheelers | |
| By Vehicle Type | Passenger Vehicles |
| Commercial Vehicles | |
| Others | |
| North America | |
| Asia Pacific | |
| By Region | Europe |
| South America | |
| Middle East Asia & Africa |
Report Coverage
The research report provides a global Automotive Suspension market analysis and focuses on key aspects such as leading Key players, product types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.
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