Market Snapshot, The global automotive suspension system market is poised to surge at a compound annual growth rate (CAGR) of 5.40% during the forecast period (2018-2023). The market is expected to surpass a valuation of USD 72,700 Mn by the year 2023. All modern vehicles have a suspension system as a mechanism for smooth ride and to reduce bumps. Increased safety regulations, arrival of innovative suspension systems and rising demand for commercial and passenger vehicles are some of the key factors supporting the global automotive suspension systems market. At the same time, increasing use of lightweight materials in suspension system and demand for regenerative suspension system for electric and hybrid vehicles is creating lucrative market opportunities. , Global Automotive Suspension System Market, By Region, In 2017, Asia Pacific (APAC) represented the largest market for automotive suspension system. The region accounted for 49.6% share of the market in terms of revenue. During the forecast period, the APAC automotive suspension market is set to exhibit an impressive CAGR.. In recent years, there has been a tremendous growth in the auto component manufacturing sector in the region. China’s rise as a major automotive manufacturing hub has also provided scope for the market to grow rapidly. Moreover, availability of low-cost labor and raw material has been an attractive prospect for foreign manufacturers. The region will continue to present attractive opportunities to market players over the next couple of years., Companies Covered, Schaeffler AG, ZF friedrichshafen AG, ThyssenKrupp AG, Continental AG, Magneti Marelli SpA, Tenneco Inc., KYB Corporation, BENTELER international AG, Sogefi SpA, and Mondo Corp. , The global automotive suspension system market is characterized by a large number of vendors. Some of the market players have an impressive offshore presence. Larger brands are collaborating with domestic vendors to further consolidate their market position. Joint ventures and collaborations are among the primary growth strategies adopted by market players. Also, investment in product innovation and R&D programs remains

Market Snapshot

The global automotive suspension system market is poised to surge at a compound annual growth rate (CAGR) of 5.40% during the forecast period (2018-2023). The market is expected to surpass a valuation of USD 72,700 Mn by the year 2023. All modern vehicles have a suspension system as a mechanism for smooth ride and to reduce bumps. Increased safety regulations, arrival of innovative suspension systems and rising demand for commercial and passenger vehicles are some of the key factors supporting the global automotive suspension systems market. At the same time, increasing use of lightweight materials in suspension system and demand for regenerative suspension system for electric and hybrid vehicles is creating lucrative market opportunities.

Global Automotive Suspension System Market, By Region

In 2017, Asia Pacific (APAC) represented the largest market for automotive suspension system. The region accounted for 49.6% share of the market in terms of revenue. During the forecast period, the APAC automotive suspension market is set to exhibit an impressive CAGR.. In recent years, there has been a tremendous growth in the auto component manufacturing sector in the region. China’s rise as a major automotive manufacturing hub has also provided scope for the market to grow rapidly. Moreover, availability of low-cost labor and raw material has been an attractive prospect for foreign manufacturers. The region will continue to present attractive opportunities to market players over the next couple of years.

Companies Covered

Schaeffler AG, ZF friedrichshafen AG, ThyssenKrupp AG, Continental AG, Magneti Marelli SpA, Tenneco Inc., KYB Corporation, BENTELER international AG, Sogefi SpA, and Mondo Corp.

The global automotive suspension system market is characterized by a large number of vendors. Some of the market players have an impressive offshore presence. Larger brands are collaborating with domestic vendors to further consolidate their market position. Joint ventures and collaborations are among the primary growth strategies adopted by market players. Also, investment in product innovation and R&D programs remains a key area of focus.

The report covers the development strategies adopted by the companies between 2015 to 2018.

Key Development



In September 2018, Schaeffler India Ltd. announced the successful merger of INA Bearings India Private Limited (INA India) and LuK India Private Limited (LuK India).



In August 2018, Continental expanded its sales network through the acquisition of the Kmart Tyre and Auto Service chain (KTAS).



Tenneco Inc. recently acquired Öhlins Racing A.B., which is a Swedish technology company that develops premium suspension systems and components for automotive and motorsport industries.



Market Segmentation

By Suspension System - Active Suspension System, Semi-Active Suspension System and Passive Suspension System

By Damping Type - Hydraulic and Electromagnetic

By Vehicle Type - Passenger Cars and Commercial Vehicle

By Sales Channel - OEM and Aftermarket

Suspension System Analysis

In 2017, the active suspension system segment stood at a market valuation of over USD 25,000 Mn and is expected to witness a CAGR of 6.66% during the forecast period. Active suspension system is the most widely used suspension system in vehicles. It remains the standard suspension system in modern vehicles. The active suspension system segment is expected to maintain it pole position throughout the assessment period.

Damping Type Analysis

In 2017, the hydraulic segment accounted for 63.69% market share and is poised to grow at a CAGR of 4.57% during the projection period. Hydraulic damper suspension systems have become an important automotive component owing to their cutting-edge technical features. It is a must-have component in vehicles that run on rough terrains or uneven surfaces. Such factors will continue to support the growth of the segment over 2023.

Vehicle Type Analysis

In terms of value, the passenger cars segment represented 69.04% of the market in 2017 and is projected to exhibit a CAGR of 4.89% during the forecast period. Growing sales of passenger vehicles is driving the growth of segment. 2018 and the year before was a high-growth year for the passenger car market owing to a strong demand in emerging economies.

Sales Channel Analysis

The OEM segment accounted for the largest share of the market in 2017, with a valuation of USD 34,762.3 Mn. In addition, the segment is expected to witness a CAGR of 4.19% during the projection period. Increased production of vehicle model-specific suspension systems and emergence of new OEMs is partly driving the segment’s growth.

Key questions addressed by the report



Which applications / segments provides the maximum growth opportunity?



What are the emerging technologies and how it would disrupt the market?



Who are the key players dominating the market, followed by other prominent vendors and strategies adopted by them?



What was the market size and what would be the forecast in next few years?



Regional and country attractiveness: mid to long term outlook?



Market dynamics including trends, opportunities, drivers, challenges and how this would impact the market eco-system?



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