Automobile Steering & Suspension Manufacturing in the US - Industry Market Research Report
Automobile Steering & Suspension Manufacturing in the US
The Automobile Steering and Suspension Manufacturing industry experienced slight growth over the five years to 2019, as automobile production improved in response to increased demand from consumers as disposable income levels rose. Moreover, changing consumer preferences contributed to this slight growth, as automakers diversified their product offerings to meet new consumer demand for fuel economy and safety. The recent period of low gasoline prices has supported new car purchases, particularly of trucks and SUVs. Over the five years to 2024, the industry is anticipated to experience a marginal acceleration in growth. New car sales are projected to increase from previous lows which is projected to boost demand for industry auto parts. Positive macroeconomic trends such as increased consumer spending and low interest rates are expected to persist, helping encourage more car purchases going forward. This should help keep demand from automakers in growth going forward.
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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