Automotive Suspension Systems Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Automotive, Transportation and Logistics | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC245

Increasing emphasis on relatively better ride control and to achieve smooth & safe ride with negligible vibrations are some of the key reasons changing the overall scenario in the global automotive suspension systems market. Automotive suspension systems are crucial for comfort, driving and safety since the vehicle body is installed on the suspension and transfers all the force between the road and the body. The automotive suspension system comprises spring, shock absorber and wishbones to filter and transfer all the external force between the road and body. It also provides better handling performance and enables the vehicle to respond favorably to the external forces generated by tires during acceleration and braking. 
 
Introduction of automotive suspension systems have enabled negligible vibration in vehicles coupled with the optimal quality of ride and overall vehicle controlling. Automotive suspension systems aids in preventing additional wear and tear of components of the vehicle. A simple automotive suspension system includes shock absorbers, springs, struts, ball joints and control arm. Springs are the major part of automotive suspension systems. The main types of springs are coil springs, leaf springs and torsion bars. Passenger vehicles generally use light coil springs whereas light commercial vehicles use leaf and coil springs while heavy commercial vehicles use air suspension. Three major types of automotive suspension systems include semi-active, active and passive. In passive suspension systems, the wheel’s vertical movement depends on the surface whereas in active and semi-active suspension systems, the wheel’s vertical movement totally depends on actively control vertical movement. Active suspension systems have high costs and require frequent maintenance.
 
Increasing demand for better suspension systems as well as increasing number of technological advancements across the globe are some key factors accelerating the demand for lightweight, economical and cheap automotive suspension systems. Strict emission norms laid by the governments and other environmental organizations along with fuel efficiency standards have forced the automotive suspension system manufacturers to opt for technologically advanced solutions. However, despite significant growth of overall automotive suspension market, various challenges such as high prices of independent suspension systems and lack of standardization are hampering the growth of global automotive suspension systems market. In addition, advancements in technology in automotive suspension systems have led to the introduction of electrical generator suspension systems which acts as a power source for certain energy needs of the vehicle along with their actual purpose.
 
The market can be bifurcated by vehicle type, system type, damping type, channel type and geography. By vehicle type, the global automotive suspension systems market can be segmented into heavy commercial vehicles, light commercial vehicles, and passenger vehicles. By system type, the global automotive suspension systems market can be segmented into active, semi-active, passive and adaptive. By damping type, the global automotive suspension systems market can be segmented into hydraulic and electromagnetic. By channel type, the global automotive suspension systems market can be segmented into OEM and aftermarket. By geography, the global automotive suspension systems market can be divided into North America, Latin America, Europe, Middle East & Africa and Asia-Pacific.
 
Some of the players involved in the supply of automotive suspension systems are focusing on key market strategies such as mergers and acquisitions along with improvement in old products and innovations in new product development. They are also concentrating on bringing up new products to meet the demands in the ever-competitive market. Some of the major players in the global automotive suspension systems market include Continental AG, Benteler Group, Magneti Marelli S.p.A., KYB Co., Ltd., Schaeffler AG, Mando Corporation, TRW Automotive Holdings Corporation, Tenneco Inc., and ZF Friedrichshafen AG and WABCO Holdings Inc. among others.
 


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