Automotive Suspension Market Analysis and Forecast by Size, Share, Growth, Trends 2031

The automotive suspension market is expected to register a CAGR of 7.4% during 2023–2031. The growing demand for both commercial and passenger cars, new suspension systems, and stricter safety standards is likely to remain a key trend in the market.

Automotive Suspension Market Analysis

• The Global Automotive Suspension Market Analysis to 2031 is a specialized and in-depth study by the type of vehicle, component, suspension type, system type and geography.
• Advanced suspension systems play a crucial role in optimizing vehicle fuel efficiency by reducing air resistance and improving overall performance.
• The growing preference for comfortable and smooth rides has led to a surge in demand for advanced suspension systems across various vehicle segments.

Automotive Suspension Market Overview

• Automotive Suspension Market Overview
• The increasing use of automotive suspension systems has aided the Growth in the industry, because of the variables that drive the need for automobile suspension systems, including comfort, luxury, air resistance, and fuel economy.
•  Automotive suspension systems include springs, wishbones and shock absorbers, which help to filter all the forces between the body and the road. These suspensions also offer isolation to the vehicle from high frequency vibration. In order to enhance the comfort and luxury of vehicles, automotive suspension manufacturers have focused on developing new and advanced suspension products.
• In order to enhance the comfort and luxury of vehicles, automotive suspension manufacturers have focused on developing new products. Newer, more inventive suspension system models that are lightweight and reasonably priced are currently available in the market.
•  Active curve tilting, magnetic dampers, and hydraulic roll control have entered the industry. Thus, demand for the automotive suspension system market is growing.

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Automotive Suspension Market: Strategic Insights

Automotive Suspension Market

• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Market Dynamics

GROWTH DRIVERS

• Technological Advancement in Automotive Sector

FUTURE TRENDS

• Growing Development in the Automotive Industry

OPPORTUNITIES

• Increasing Application of Automotive Suspension Systems

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Vehicle Type

• Passenger Car
• Light Commercial Vehicle
• Heavy Commercial Vehicle

Component

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

Suspension Type

• Hydraulic Suspension
• Air Suspension
• Leaf Spring Suspension

System Type

• Passive Suspension
• Semi Active Suspension
• Active Suspension

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Automotive Suspension Market Drivers and Opportunities

Technological Advancement in the Automotive Sector to Favor the Market

• In order to increase the comfort and luxury of their vehicles, automobile companies have concentrated on developing cutting-edge products.
• Currently, the market is filled with more recent suspension system models that are affordable and lightweight. The market has recently seen the introduction of hydraulic roll control, active curve tilting, and magnetic dampers.
• To increase the range of products they offer, many businesses have also introduced cutting-edge suspension systems. Thus, significant technological advancement in automotive suspension systems helps to improve global market growth.

Increasing Application of Automotive Suspension Systems

• Compared to cars with internal combustion engines, electric vehicles usually have a lower center of gravity. Better handling and stability follow, which raises the demand for sophisticated suspension systems and, ultimately, for the performance and handling of electric vehicles.
• Additionally, the utilization of electric motors and battery packs in electric vehicles yields additional space beneath the hood, thereby allowing for a more inventive suspension design.
• For instance, In October 2023, BWI Group, a global leader in automotive braking and suspension system technology, partnered with ClearMotion Inc., a global transportation technology company, to supply essential full-active suspension components and subsystems to a leading Chinese New Energy Vehicle (NEV) manufacturer. Following the two firms’ successful research and development collaboration on the ClearMotion1 (CM1) high-bandwidth active suspension system, this milestone marks a break-through, giving BWI and ClearMotion a clear advantage in an important emerging market focused on increased vehicle passenger comfort, productivity, and experience.

Automotive Suspension Market Report Segmentation Analysis

Key segments that contributed to the derivation of the automotive suspension market analysis are vehicle type, component, suspension type, and system type.

• Based on vehicle type, the automotive suspension market is divided into passenger cars, light commercial vehicle, and heavy commercial vehicle.
• Based on components, the automotive suspension market is divided into springs, shock dampeners, struts, control arms, ball joints, leaf springs and air compressors.
• Based on suspension type, the automotive suspension market is divided into hydraulic suspension, air suspension, and leaf spring suspension.
• Based on system Type, the automotive suspension market is divided into passive suspension, semi active suspension, and active suspension.

Automotive Suspension Market Share Analysis by Geography

• The automotive suspension market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering automotive suspension market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the automotive suspension market in these regions.

Automotive Suspension Market Market Report Scope

Automotive Suspension Market News and Recent Developments

The automotive suspension market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive suspension market are listed below:

• Hendrickson Truck Commercial Vehicle Systems, a global leader in lightweight axle and suspension technology, announced a suite of new products specifically catering to the rapidly growing electric vehicle market. SOFTEK, the front steer axle and suspension system featuring Hendrickson’s fabricated STEERTEK front steer axle, integrated with the front mechanical spring suspension and lightweight clamp group, has been scaled to accommodate the medium-duty last mile delivery market and still provides its trademark weight savings and ride quality. In addition to SOFTEK, Hendrickson’s exclusive Snake Spring technology has been incorporated into the rear suspension system for this platform and delivers additional weight savings and optimized ride and stability characteristics. (Source: Hendrickson USA, L.L.C., Company Website, May 2022)

Automotive Suspension Market Report Coverage and Deliverables

The “Automotive Suspension Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Automotive suspension market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Automotive suspension market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Automotive suspension market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the automotive suspension market
• Detailed company profiles