Automotive Strut Market Key Players Analysis 2031
The automotive strut market is expected to register a CAGR of 3.5% during 2023–2031. The rise in focus towards improving the efficiency of automotive strut strength for enhanced performance is likely to remain a key trend in the market.
Automotive Strut Market Analysis
- The demand for automotive suspension is driven by the increase in demand for vehicle comfort, growing vehicle production and stringent regulations regarding vehicle safety standards are the key driving factor for the Automotive Suspension market.
- Lightweight materials, growing demand for electric & hybrid vehicles, technology advancement and Integration of Smart Suspension Systems are the Opportunity in the automotive struct market.
Automotive Strut Market Overview
- Struts have two main jobs first, they support the vehicle's weight and provide structural support, and second, they dampen the spring's movements as they react to the road surface. Struts provide structural support by connecting the upper strut bearing to the lower ball joint.
- The production and sales of vehicles and increasing demand for luxury vehicles driving factor for the north America. Rapid industrialization, urbanization, and rising disposable incomes propel the Asia pacific and emerged as pivot for automotive strut market. Technological advancements and focus on vehicle performance and safety fuel the Europe growth.
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Automotive Strut Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Automotive Strut Market: Strategic Insights
Naveen
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Automotive Strut Market Drivers and Opportunities
The Growth of the Automotive Industry Across the Globe to Favor the Market
- The automotive industry is experiencing steady growth worldwide with increasing vehicle production and sales. As the number of vehicles on the road continues to increase, there is a greater need for emissions testing and compliance. Automotive strut are essential tools for automobile manufacturers, service centres and regulators to ensure vehicles meet required manufacturing standards, driving demand for these components.
- As countries around the world pushed towards the rise in adoption of hybrid EVs for reducing carbon emissions and promote sustainability, production and sales of hybrid electric vehicles experienced significant growth. This expansion of the hybrid electric vehicle market created a need for advanced automotive strut.
Technological Advancement and the Utilization of Advanced Material in the Production of Automotive Strut
- The market offers opportunities for the development of lighter and higher performance materials for use in strut. The market growth is expected to be driven by the continued use of advanced materials in the production of strut, which include CFRP, steel, and graphene produced for automobile strut.
- The increasing demand for environmentally friendly and technologically advanced products provides the automotive strut industry with an opportunity to produce environmentally friendly strut that appeal to the consumer looking for environmentally friendly products.
Automotive Strut Market Report Segmentation Analysis
Key segments that contributed to the derivation of the automotive strut market analysis are material and vehicle type.
- Based on material, the automotive strut market is divided into aluminum, steel, and FRP.
- On the basis of vehicle type, the market is divided into passenger cars and commercial vehicles.
Automotive Strut Market Share Analysis by Geography
- Automotive Strut 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 Strut 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 Strut Market in these regions.
Automotive Strut Market Report Scope
Automotive Strut Market News and Recent Developments
The Automotive Strut 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 Strut Market are listed below:
- Cummins Inc. (NYSE: CMI) and Meritor, Inc. (NYSE: MTOR) entered into a definitive agreement under which Cummins will acquire Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. Under the terms of the agreement, Cummins will pay $36.50 in cash per Meritor share, for a total transaction value of approximately $3.7 billion, including assumed debt and net of acquired cash. (Source: Cummins Inc., Company Website, February 2022)
- ZF continued its growth and expansion in India with the start of its new shock absorber production line at its regional headquarters based in Chakan, Pune. With a current annual installed manufacturing capacity of 0.7 million units, the supplier plans to increase it to three million units in three to four years. (Source: ZF, Company Website, February 2022)
Automotive Strut Market Report Coverage and Deliverables
The “Automotive Strut Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Automotive Strut Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Automotive Strut Market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Automotive Strut 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 for the Automotive Strut Market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global Automotive Strut Market is expected to grow at a CAGR of 3.5% during the forecast period 2023 - 2031.
The growth of the automotive industry across the globe is the major factors driving the Automotive Strut Market.
The rise in focus towards improving the efficiency of automotive strut strength for enhanced performance is the key future trend in the global Automotive Strut Market in the coming years.
The leading players operating in the Automotive Strut Market include SACH, EIBACH SPRINGS, H&R, Monroe, Rancho, Gabriel India limited, KYB corporation, BILSTEIN, KONI, and TOKICO.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Automotive Strut Market - By Material
1.3.2 Automotive Strut Market - By Vehicle Type
1.3.3 Automotive Strut Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE STRUT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. AUTOMOTIVE STRUT MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. AUTOMOTIVE STRUT MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE STRUT - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE STRUT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE STRUT MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
7.1. OVERVIEW
7.2. MATERIAL MARKET FORECASTS AND ANALYSIS
7.3. ALUMINUM
7.3.1. Overview
7.3.2. Aluminum Market Forecast and Analysis
7.4. STEEL
7.4.1. Overview
7.4.2. Steel Market Forecast and Analysis
7.5. FRP
7.5.1. Overview
7.5.2. FRP Market Forecast and Analysis
8. AUTOMOTIVE STRUT MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
8.1. OVERVIEW
8.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
8.3. PASSENGER CARS
8.3.1. Overview
8.3.2. Passenger Cars Market Forecast and Analysis
8.4. COMMERCIAL VEHICLES
8.4.1. Overview
8.4.2. Commercial Vehicles Market Forecast and Analysis
9. AUTOMOTIVE STRUT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Automotive Strut Market Overview
9.1.2 North America Automotive Strut Market Forecasts and Analysis
9.1.3 North America Automotive Strut Market Forecasts and Analysis - By Material
9.1.4 North America Automotive Strut Market Forecasts and Analysis - By Vehicle Type
9.1.5 North America Automotive Strut Market Forecasts and Analysis - By Countries
9.1.5.1 United States Automotive Strut Market
9.1.5.1.1 United States Automotive Strut Market by Material
9.1.5.1.2 United States Automotive Strut Market by Vehicle Type
9.1.5.2 Canada Automotive Strut Market
9.1.5.2.1 Canada Automotive Strut Market by Material
9.1.5.2.2 Canada Automotive Strut Market by Vehicle Type
9.1.5.3 Mexico Automotive Strut Market
9.1.5.3.1 Mexico Automotive Strut Market by Material
9.1.5.3.2 Mexico Automotive Strut Market by Vehicle Type
9.2. EUROPE
9.2.1 Europe Automotive Strut Market Overview
9.2.2 Europe Automotive Strut Market Forecasts and Analysis
9.2.3 Europe Automotive Strut Market Forecasts and Analysis - By Material
9.2.4 Europe Automotive Strut Market Forecasts and Analysis - By Vehicle Type
9.2.5 Europe Automotive Strut Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Automotive Strut Market
9.2.5.1.1 Germany Automotive Strut Market by Material
9.2.5.1.2 Germany Automotive Strut Market by Vehicle Type
9.2.5.2 France Automotive Strut Market
9.2.5.2.1 France Automotive Strut Market by Material
9.2.5.2.2 France Automotive Strut Market by Vehicle Type
9.2.5.3 Italy Automotive Strut Market
9.2.5.3.1 Italy Automotive Strut Market by Material
9.2.5.3.2 Italy Automotive Strut Market by Vehicle Type
9.2.5.4 United Kingdom Automotive Strut Market
9.2.5.4.1 United Kingdom Automotive Strut Market by Material
9.2.5.4.2 United Kingdom Automotive Strut Market by Vehicle Type
9.2.5.5 Russia Automotive Strut Market
9.2.5.5.1 Russia Automotive Strut Market by Material
9.2.5.5.2 Russia Automotive Strut Market by Vehicle Type
9.2.5.6 Rest of Europe Automotive Strut Market
9.2.5.6.1 Rest of Europe Automotive Strut Market by Material
9.2.5.6.2 Rest of Europe Automotive Strut Market by Vehicle Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Automotive Strut Market Overview
9.3.2 Asia-Pacific Automotive Strut Market Forecasts and Analysis
9.3.3 Asia-Pacific Automotive Strut Market Forecasts and Analysis - By Material
9.3.4 Asia-Pacific Automotive Strut Market Forecasts and Analysis - By Vehicle Type
9.3.5 Asia-Pacific Automotive Strut Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Automotive Strut Market
9.3.5.1.1 Australia Automotive Strut Market by Material
9.3.5.1.2 Australia Automotive Strut Market by Vehicle Type
9.3.5.2 China Automotive Strut Market
9.3.5.2.1 China Automotive Strut Market by Material
9.3.5.2.2 China Automotive Strut Market by Vehicle Type
9.3.5.3 India Automotive Strut Market
9.3.5.3.1 India Automotive Strut Market by Material
9.3.5.3.2 India Automotive Strut Market by Vehicle Type
9.3.5.4 Japan Automotive Strut Market
9.3.5.4.1 Japan Automotive Strut Market by Material
9.3.5.4.2 Japan Automotive Strut Market by Vehicle Type
9.3.5.5 South Korea Automotive Strut Market
9.3.5.5.1 South Korea Automotive Strut Market by Material
9.3.5.5.2 South Korea Automotive Strut Market by Vehicle Type
9.3.5.6 Rest of Asia-Pacific Automotive Strut Market
9.3.5.6.1 Rest of Asia-Pacific Automotive Strut Market by Material
9.3.5.6.2 Rest of Asia-Pacific Automotive Strut Market by Vehicle Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Automotive Strut Market Overview
9.4.2 Middle East and Africa Automotive Strut Market Forecasts and Analysis
9.4.3 Middle East and Africa Automotive Strut Market Forecasts and Analysis - By Material
9.4.4 Middle East and Africa Automotive Strut Market Forecasts and Analysis - By Vehicle Type
9.4.5 Middle East and Africa Automotive Strut Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Automotive Strut Market
9.4.5.1.1 South Africa Automotive Strut Market by Material
9.4.5.1.2 South Africa Automotive Strut Market by Vehicle Type
9.4.5.2 Saudi Arabia Automotive Strut Market
9.4.5.2.1 Saudi Arabia Automotive Strut Market by Material
9.4.5.2.2 Saudi Arabia Automotive Strut Market by Vehicle Type
9.4.5.3 U.A.E Automotive Strut Market
9.4.5.3.1 U.A.E Automotive Strut Market by Material
9.4.5.3.2 U.A.E Automotive Strut Market by Vehicle Type
9.4.5.4 Rest of Middle East and Africa Automotive Strut Market
9.4.5.4.1 Rest of Middle East and Africa Automotive Strut Market by Material
9.4.5.4.2 Rest of Middle East and Africa Automotive Strut Market by Vehicle Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Automotive Strut Market Overview
9.5.2 South and Central America Automotive Strut Market Forecasts and Analysis
9.5.3 South and Central America Automotive Strut Market Forecasts and Analysis - By Material
9.5.4 South and Central America Automotive Strut Market Forecasts and Analysis - By Vehicle Type
9.5.5 South and Central America Automotive Strut Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Automotive Strut Market
9.5.5.1.1 Brazil Automotive Strut Market by Material
9.5.5.1.2 Brazil Automotive Strut Market by Vehicle Type
9.5.5.2 Argentina Automotive Strut Market
9.5.5.2.1 Argentina Automotive Strut Market by Material
9.5.5.2.2 Argentina Automotive Strut Market by Vehicle Type
9.5.5.3 Rest of South and Central America Automotive Strut Market
9.5.5.3.1 Rest of South and Central America Automotive Strut Market by Material
9.5.5.3.2 Rest of South and Central America Automotive Strut Market by Vehicle Type
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. AUTOMOTIVE STRUT MARKET, KEY COMPANY PROFILES
11.1. HITACHI AUTOMOTIVE SYSTEMS AMERICAS, INC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. KONI BV (ITT INC)
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. KYB CORPORATION
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. MAGNETI MARELLI S.P.A.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. RIDE CONTROL, LLC
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. SUSPA GMBH
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. TENNECO INC.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. THYSSENKRUPP BILSTEIN GMBH
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. VIEROL AG
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ZF FRIEDRICHSHAFEN AG
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1.Hitachi Automotive Systems Americas, Inc.
2.KONI BV (ITT Inc)
3.KYB Corporation
4.Magneti Marelli S.p.A.
5.Ride Control, LLC
6.SUSPA GmbH
7.Tenneco Inc.
8.thyssenkrupp Bilstein GmbH
9.VIEROL AG
10.ZF Friedrichshafen AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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