Automobile Steering & Suspension Manufacturing in the US - Industry Market Research Report
Description
Automobile Steering & Suspension Manufacturing in the US
Automobile steering and suspension manufacturers have endured difficult times in recent years as the whole automotive sector struggled during the height of the pandemic. Stay-at-home orders and the halting of the economy meant that consumers had little to spend and that their priorities had shifted away from transportation. Commodity prices spiked as pandemic-related restrictions were lifted, so even though demand was booming, input costs and the costs of owning a vehicle shot up, pressuring profit. Also, unfavorable trade conditions meant that exports were still rapidly falling while import penetration remained high, helping prevent recovery for steering and suspension manufacturers. Altogether, industry revenue has been falling at a CAGR of 5.6% to an expected $14.2 billion over the past five years, including an anticipated drop of 2.5% in 2023 alone.
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.
Automobile steering and suspension manufacturers have endured difficult times in recent years as the whole automotive sector struggled during the height of the pandemic. Stay-at-home orders and the halting of the economy meant that consumers had little to spend and that their priorities had shifted away from transportation. Commodity prices spiked as pandemic-related restrictions were lifted, so even though demand was booming, input costs and the costs of owning a vehicle shot up, pressuring profit. Also, unfavorable trade conditions meant that exports were still rapidly falling while import penetration remained high, helping prevent recovery for steering and suspension manufacturers. Altogether, industry revenue has been falling at a CAGR of 5.6% to an expected $14.2 billion over the past five years, including an anticipated drop of 2.5% in 2023 alone.
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.
Table of Contents
50 Pages
- TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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