Automotive Suspension Market Growth Report | 2021 to 2031
The Automotive Suspension Market is expected to register a CAGR of 7.4% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by 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). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the Report
The report Automotive Suspension Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Automotive Suspension Market Segmentation
Type
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Component
- Spring
- Shock Dampener
- Struts
- Control Arms
- Ball Joint
- Leaf Spring and Air Compressor
System Type
- Passive Suspension
- Semi Active Suspension
- Active Suspension
Suspension Type
- Hydraulic Suspension
- Air Suspension
- Leaf Spring Suspension
Suspension Type
- Hydraulic Suspension
- Air Suspension
- Leaf Spring Suspension
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Automotive Suspension Market: Strategic Insights
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Automotive Suspension Market Growth Drivers
- Growing Demand for Electric Vehicles (EVs): The rise of electric vehicles is driving the demand for advanced suspension systems, as EVs require optimized ride comfort, stability, and handling due to their unique weight distribution. The need for lightweight yet durable suspension components increases, fostering innovation in materials and technologies. This trend is particularly crucial as manufacturers focus on enhancing vehicle efficiency and comfort in EVs.
- Rising Consumer Preference for Comfort and Safety: Consumers are increasingly prioritizing enhanced comfort and safety features, such as adaptive suspension systems, in their vehicle purchases. This shift in preferences drives automakers to integrate advanced suspension technologies, which improve ride quality and vehicle stability, especially on rough terrains. As safety regulations become stricter, advanced suspension systems play a vital role in maintaining stability during critical situations.
- Technological Advancements in Suspension Systems: Continuous technological advancements, including the development of adaptive and semi-active suspension systems, are revolutionizing the automotive suspension market. These innovations improve vehicle handling, adjust to varying road conditions, and enhance overall ride quality. The shift toward integrating electronically controlled suspension systems contributes to more efficient and customizable driving experiences.
Automotive Suspension Market Future Trends
- Shift Towards Active and Semi-Active Suspensions: There is a growing adoption of active and semi-active suspension systems in high-end and performance vehicles. These systems adjust in real-time to road conditions, providing superior ride comfort and handling. Their increasing popularity is driven by demand for vehicles that deliver premium driving experiences and greater control, especially in luxury and sports car segments.
- Integration of Suspension with Autonomous Driving Technologies: As autonomous driving technology advances, there is an increasing trend to integrate suspension systems with vehicle control systems. The aim is to enhance comfort, reduce vibrations, and maintain stability in self-driving vehicles. This synergy supports the development of smart, self-adjusting suspension systems that can optimize vehicle performance in autonomous scenarios.
Automotive Suspension Market Opportunities
- Growth in Aftermarket Suspension Systems: The expanding global automotive aftermarket presents a significant opportunity for suspension system manufacturers. As more vehicle owners look to upgrade or replace their suspension systems for better performance, comfort, or off-road capabilities, there is a growing market for aftermarket parts. This segment is particularly strong in regions with high vehicle customization demand.
Expanding Markets in Emerging Economies: The automotive industry’s rapid growth in emerging markets like India, China, and Brazil offers significant opportunities for suspension system manufacturers. With the rising demand for both commercial and passenger vehicles in these regions, manufacturers can capitalize on the need for affordable, efficient, and durable suspension systems. This also presents opportunities to cater to the growing middle class seeking better vehicle features.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Automotive Suspension Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Automotive Suspension Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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
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.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players operating in the Automotive Suspension Market include Continental AG, Hendrickson USAL.L.C., KYB Corporation, Magneti Marelli Parts & Services, NHK SPRING Co.,Ltd., Parker Hannifin Corp, Rassini, Sogefi SpA, ZF Friedrichshafen AG
The Automotive Suspension Market is estimated to witness a CAGR of 7.4% from 2023 to 2031
Advent of advanced material is the key future trend of the Automotive Suspension Market
The major factors driving the Automotive Suspension Market are: Technological Advancement in the Automotive Sector to Favor the Market
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 Suspension Market - By Vehicle Type
1.3.2 Automotive Suspension Market - By Component
1.3.3 Automotive Suspension Market - By Suspension Type
1.3.4 Automotive Suspension Market - By System Type
1.3.5 Automotive Suspension Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE SUSPENSION MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. AUTOMOTIVE SUSPENSION 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 AND RESTRAINTS
6. AUTOMOTIVE SUSPENSION MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE SUSPENSION - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE SUSPENSION - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE SUSPENSION MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
7.1. OVERVIEW
7.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
7.3. PASSENGER CAR
7.3.1. Overview
7.3.2. Passenger Car Market Forecast and Analysis
7.4. LIGHT COMMERCIAL VEHICLE
7.4.1. Overview
7.4.2. Light Commercial Vehicle Market Forecast and Analysis
7.5. HEAVY COMMERCIAL VEHICLE
7.5.1. Overview
7.5.2. Heavy Commercial Vehicle Market Forecast and Analysis
8. AUTOMOTIVE SUSPENSION MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
8.1. OVERVIEW
8.2. COMPONENT MARKET FORECASTS AND ANALYSIS
8.3. SPRING
8.3.1. Overview
8.3.2. Spring Market Forecast and Analysis
8.4. SHOCK DAMPENER
8.4.1. Overview
8.4.2. Shock Dampener Market Forecast and Analysis
8.5. STRUTS
8.5.1. Overview
8.5.2. Struts Market Forecast and Analysis
8.6. CONTROL ARMS
8.6.1. Overview
8.6.2. Control Arms Market Forecast and Analysis
8.7. BALL JOINT
8.7.1. Overview
8.7.2. Ball Joint Market Forecast and Analysis
8.8. LEAF SPRING AND AIR COMPRESSOR
8.8.1. Overview
8.8.2. Leaf Spring and Air Compressor Market Forecast and Analysis
9. AUTOMOTIVE SUSPENSION MARKET - REVENUE AND FORECASTS TO 2028 - SUSPENSION TYPE
9.1. OVERVIEW
9.2. SUSPENSION TYPE MARKET FORECASTS AND ANALYSIS
9.3. HYDRAULIC SUSPENSION
9.3.1. Overview
9.3.2. Hydraulic Suspension Market Forecast and Analysis
9.4. AIR SUSPENSION
9.4.1. Overview
9.4.2. Air Suspension Market Forecast and Analysis
9.5. LEAF SPRING SUSPENSION
9.5.1. Overview
9.5.2. Leaf Spring Suspension Market Forecast and Analysis
10. AUTOMOTIVE SUSPENSION MARKET - REVENUE AND FORECASTS TO 2028 - SYSTEM TYPE
10.1. OVERVIEW
10.2. SYSTEM TYPE MARKET FORECASTS AND ANALYSIS
10.3. PASSIVE SUSPENSION
10.3.1. Overview
10.3.2. Passive Suspension Market Forecast and Analysis
10.4. SEMI ACTIVE SUSPENSION
10.4.1. Overview
10.4.2. Semi Active Suspension Market Forecast and Analysis
10.5. ACTIVE SUSPENSION
10.5.1. Overview
10.5.2. Active Suspension Market Forecast and Analysis
11. AUTOMOTIVE SUSPENSION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Automotive Suspension Market Overview
11.1.2 North America Automotive Suspension Market Forecasts and Analysis
11.1.3 North America Automotive Suspension Market Forecasts and Analysis - By Vehicle Type
11.1.4 North America Automotive Suspension Market Forecasts and Analysis - By Component
11.1.5 North America Automotive Suspension Market Forecasts and Analysis - By Suspension Type
11.1.6 North America Automotive Suspension Market Forecasts and Analysis - By System Type
11.1.7 North America Automotive Suspension Market Forecasts and Analysis - By Countries
11.1.7.1 United States Automotive Suspension Market
11.1.7.1.1 United States Automotive Suspension Market by Vehicle Type
11.1.7.1.2 United States Automotive Suspension Market by Component
11.1.7.1.3 United States Automotive Suspension Market by Suspension Type
11.1.7.1.4 United States Automotive Suspension Market by System Type
11.1.7.2 Canada Automotive Suspension Market
11.1.7.2.1 Canada Automotive Suspension Market by Vehicle Type
11.1.7.2.2 Canada Automotive Suspension Market by Component
11.1.7.2.3 Canada Automotive Suspension Market by Suspension Type
11.1.7.2.4 Canada Automotive Suspension Market by System Type
11.1.7.3 Mexico Automotive Suspension Market
11.1.7.3.1 Mexico Automotive Suspension Market by Vehicle Type
11.1.7.3.2 Mexico Automotive Suspension Market by Component
11.1.7.3.3 Mexico Automotive Suspension Market by Suspension Type
11.1.7.3.4 Mexico Automotive Suspension Market by System Type
11.2. EUROPE
11.2.1 Europe Automotive Suspension Market Overview
11.2.2 Europe Automotive Suspension Market Forecasts and Analysis
11.2.3 Europe Automotive Suspension Market Forecasts and Analysis - By Vehicle Type
11.2.4 Europe Automotive Suspension Market Forecasts and Analysis - By Component
11.2.5 Europe Automotive Suspension Market Forecasts and Analysis - By Suspension Type
11.2.6 Europe Automotive Suspension Market Forecasts and Analysis - By System Type
11.2.7 Europe Automotive Suspension Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Automotive Suspension Market
11.2.7.1.1 Germany Automotive Suspension Market by Vehicle Type
11.2.7.1.2 Germany Automotive Suspension Market by Component
11.2.7.1.3 Germany Automotive Suspension Market by Suspension Type
11.2.7.1.4 Germany Automotive Suspension Market by System Type
11.2.7.2 France Automotive Suspension Market
11.2.7.2.1 France Automotive Suspension Market by Vehicle Type
11.2.7.2.2 France Automotive Suspension Market by Component
11.2.7.2.3 France Automotive Suspension Market by Suspension Type
11.2.7.2.4 France Automotive Suspension Market by System Type
11.2.7.3 Italy Automotive Suspension Market
11.2.7.3.1 Italy Automotive Suspension Market by Vehicle Type
11.2.7.3.2 Italy Automotive Suspension Market by Component
11.2.7.3.3 Italy Automotive Suspension Market by Suspension Type
11.2.7.3.4 Italy Automotive Suspension Market by System Type
11.2.7.4 United Kingdom Automotive Suspension Market
11.2.7.4.1 United Kingdom Automotive Suspension Market by Vehicle Type
11.2.7.4.2 United Kingdom Automotive Suspension Market by Component
11.2.7.4.3 United Kingdom Automotive Suspension Market by Suspension Type
11.2.7.4.4 United Kingdom Automotive Suspension Market by System Type
11.2.7.5 Russia Automotive Suspension Market
11.2.7.5.1 Russia Automotive Suspension Market by Vehicle Type
11.2.7.5.2 Russia Automotive Suspension Market by Component
11.2.7.5.3 Russia Automotive Suspension Market by Suspension Type
11.2.7.5.4 Russia Automotive Suspension Market by System Type
11.2.7.6 Rest of Europe Automotive Suspension Market
11.2.7.6.1 Rest of Europe Automotive Suspension Market by Vehicle Type
11.2.7.6.2 Rest of Europe Automotive Suspension Market by Component
11.2.7.6.3 Rest of Europe Automotive Suspension Market by Suspension Type
11.2.7.6.4 Rest of Europe Automotive Suspension Market by System Type
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Automotive Suspension Market Overview
11.3.2 Asia-Pacific Automotive Suspension Market Forecasts and Analysis
11.3.3 Asia-Pacific Automotive Suspension Market Forecasts and Analysis - By Vehicle Type
11.3.4 Asia-Pacific Automotive Suspension Market Forecasts and Analysis - By Component
11.3.5 Asia-Pacific Automotive Suspension Market Forecasts and Analysis - By Suspension Type
11.3.6 Asia-Pacific Automotive Suspension Market Forecasts and Analysis - By System Type
11.3.7 Asia-Pacific Automotive Suspension Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Automotive Suspension Market
11.3.7.1.1 Australia Automotive Suspension Market by Vehicle Type
11.3.7.1.2 Australia Automotive Suspension Market by Component
11.3.7.1.3 Australia Automotive Suspension Market by Suspension Type
11.3.7.1.4 Australia Automotive Suspension Market by System Type
11.3.7.2 China Automotive Suspension Market
11.3.7.2.1 China Automotive Suspension Market by Vehicle Type
11.3.7.2.2 China Automotive Suspension Market by Component
11.3.7.2.3 China Automotive Suspension Market by Suspension Type
11.3.7.2.4 China Automotive Suspension Market by System Type
11.3.7.3 India Automotive Suspension Market
11.3.7.3.1 India Automotive Suspension Market by Vehicle Type
11.3.7.3.2 India Automotive Suspension Market by Component
11.3.7.3.3 India Automotive Suspension Market by Suspension Type
11.3.7.3.4 India Automotive Suspension Market by System Type
11.3.7.4 Japan Automotive Suspension Market
11.3.7.4.1 Japan Automotive Suspension Market by Vehicle Type
11.3.7.4.2 Japan Automotive Suspension Market by Component
11.3.7.4.3 Japan Automotive Suspension Market by Suspension Type
11.3.7.4.4 Japan Automotive Suspension Market by System Type
11.3.7.5 South Korea Automotive Suspension Market
11.3.7.5.1 South Korea Automotive Suspension Market by Vehicle Type
11.3.7.5.2 South Korea Automotive Suspension Market by Component
11.3.7.5.3 South Korea Automotive Suspension Market by Suspension Type
11.3.7.5.4 South Korea Automotive Suspension Market by System Type
11.3.7.6 Rest of Asia-Pacific Automotive Suspension Market
11.3.7.6.1 Rest of Asia-Pacific Automotive Suspension Market by Vehicle Type
11.3.7.6.2 Rest of Asia-Pacific Automotive Suspension Market by Component
11.3.7.6.3 Rest of Asia-Pacific Automotive Suspension Market by Suspension Type
11.3.7.6.4 Rest of Asia-Pacific Automotive Suspension Market by System Type
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Automotive Suspension Market Overview
11.4.2 Middle East and Africa Automotive Suspension Market Forecasts and Analysis
11.4.3 Middle East and Africa Automotive Suspension Market Forecasts and Analysis - By Vehicle Type
11.4.4 Middle East and Africa Automotive Suspension Market Forecasts and Analysis - By Component
11.4.5 Middle East and Africa Automotive Suspension Market Forecasts and Analysis - By Suspension Type
11.4.6 Middle East and Africa Automotive Suspension Market Forecasts and Analysis - By System Type
11.4.7 Middle East and Africa Automotive Suspension Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Automotive Suspension Market
11.4.7.1.1 South Africa Automotive Suspension Market by Vehicle Type
11.4.7.1.2 South Africa Automotive Suspension Market by Component
11.4.7.1.3 South Africa Automotive Suspension Market by Suspension Type
11.4.7.1.4 South Africa Automotive Suspension Market by System Type
11.4.7.2 Saudi Arabia Automotive Suspension Market
11.4.7.2.1 Saudi Arabia Automotive Suspension Market by Vehicle Type
11.4.7.2.2 Saudi Arabia Automotive Suspension Market by Component
11.4.7.2.3 Saudi Arabia Automotive Suspension Market by Suspension Type
11.4.7.2.4 Saudi Arabia Automotive Suspension Market by System Type
11.4.7.3 U.A.E Automotive Suspension Market
11.4.7.3.1 U.A.E Automotive Suspension Market by Vehicle Type
11.4.7.3.2 U.A.E Automotive Suspension Market by Component
11.4.7.3.3 U.A.E Automotive Suspension Market by Suspension Type
11.4.7.3.4 U.A.E Automotive Suspension Market by System Type
11.4.7.4 Rest of Middle East and Africa Automotive Suspension Market
11.4.7.4.1 Rest of Middle East and Africa Automotive Suspension Market by Vehicle Type
11.4.7.4.2 Rest of Middle East and Africa Automotive Suspension Market by Component
11.4.7.4.3 Rest of Middle East and Africa Automotive Suspension Market by Suspension Type
11.4.7.4.4 Rest of Middle East and Africa Automotive Suspension Market by System Type
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Automotive Suspension Market Overview
11.5.2 South and Central America Automotive Suspension Market Forecasts and Analysis
11.5.3 South and Central America Automotive Suspension Market Forecasts and Analysis - By Vehicle Type
11.5.4 South and Central America Automotive Suspension Market Forecasts and Analysis - By Component
11.5.5 South and Central America Automotive Suspension Market Forecasts and Analysis - By Suspension Type
11.5.6 South and Central America Automotive Suspension Market Forecasts and Analysis - By System Type
11.5.7 South and Central America Automotive Suspension Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Automotive Suspension Market
11.5.7.1.1 Brazil Automotive Suspension Market by Vehicle Type
11.5.7.1.2 Brazil Automotive Suspension Market by Component
11.5.7.1.3 Brazil Automotive Suspension Market by Suspension Type
11.5.7.1.4 Brazil Automotive Suspension Market by System Type
11.5.7.2 Argentina Automotive Suspension Market
11.5.7.2.1 Argentina Automotive Suspension Market by Vehicle Type
11.5.7.2.2 Argentina Automotive Suspension Market by Component
11.5.7.2.3 Argentina Automotive Suspension Market by Suspension Type
11.5.7.2.4 Argentina Automotive Suspension Market by System Type
11.5.7.3 Rest of South and Central America Automotive Suspension Market
11.5.7.3.1 Rest of South and Central America Automotive Suspension Market by Vehicle Type
11.5.7.3.2 Rest of South and Central America Automotive Suspension Market by Component
11.5.7.3.3 Rest of South and Central America Automotive Suspension Market by Suspension Type
11.5.7.3.4 Rest of South and Central America Automotive Suspension Market by System Type
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. AUTOMOTIVE SUSPENSION MARKET, KEY COMPANY PROFILES
13.1. ANAND GROUP
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. CONTINENTAL AG
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. HENDRICKSON USA, L.L.C.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. KYB CORPORATION
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. MAGNETI MARELLI PARTS AND SERVICES
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. NHK SPRING CO.,LTD.
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. PARKER HANNIFIN CORP
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. RASSINI
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. SOGEFI SPA
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. WABCO
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
1. ANAND Group
2. Continental AG
3. Hendrickson USA, L.L.C.
4. KYB Corporation
5. MAGNETI MARELLI PARTS and SERVICES
6. NHK SPRING Co.,Ltd.
7. Parker Hannifin Corp
8. Rassini
9. Sogefi SpA
10. WABCO
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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