Automobile Steering & Suspension Manufacturing in the US
The Automobile Steering and Suspension Manufacturing industry experienced strong growth over the five years to 2017, as automobile production improved in response to increased demand from consumers as disposable income levels rose. Moreover, changing consumer preferences contributed to industry growth, as automakers diversified their product offerings to meet new consumer demand for fuel economy and safety. Over the five years to 2022, the industry is anticipated to experience a marginal decline. New car sales are projected to decline from previous highs, which is projected to limit demand for industry auto parts. This will act to limit revenue for industry operators in addition to gradually increasing import competition. However, technological change is expected to benefit the industry to an extent.
Industry operators mainly manufacture and rebuild motor vehicle steering and suspension systems and components. These consist of steering wheels, shock absorbers and struts. Spring manufacturing is not included in this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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