Global Automotive Suspension System Market 2017-2021
About Automotive Suspension System
An automotive suspension system is a combination of springs, shock absorbers, and linkages that enable the relative motion between the vehicle and wheels. Horsepower, torque, and acceleration are important factors that affect the performance of an automobile. However, for all these factors to drive the performance of an automobile, wheels of the vehicle should be in contact with the ground or road, which is enabled by the suspension system of the automobile.
Technavio’s analysts forecast the global automotive suspension system market to grow at a CAGR of 4.03% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive suspension system market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of automotive suspension system.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Suspension System Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive suspension system market: BWI Group, Continental, Magneti Marelli, and Tenneco
Other Prominent Vendors in the market are: LORD Corporation, Mando, and thyssenkrupp Bilstein.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Multimode suspension system. An active adjustable suspension system in a supercar is not something unique, but the suspension system in the latest Ford GT is something exceptional. Ford has used all its engineering expertise in developing this active adjustable multimode suspension system. The Ford GT suspension system replaces the traditional coil spring with a pushrod-actuated torsion bar. The pushrod actuated torsion bar creates space for giant aero passages by moving the other major components of the suspension system inboard owing to the aerodynamic design of the vehicle.”
According to the report, one of the major drivers for this market is Electronic suspension systems for efficient ride handling and safety. The automotive suspension system is evolving at a rapid pace. Ride technologies and systems are improving as safety and driving experience are becoming top priorities for customers, driving their purchase decisions. Manufacturers of suspension systems depend on new technologies and their expertise to maintain their competitive edge in ride-related technologies. As a result, the global automotive suspension system market is witnessing technological developments in the form of lightweight, air-controlled, and electronically controlled suspension systems.
Further, the report states that one of the major factors hindering the growth of this market is High replacement cost of individual components. Automotive suspension systems have several major components like shock absorbers, springs, leaf springs, struts, ball joints, and control arms. The life of a suspension system cannot be generalized. It depends on factors like how and where the vehicle is driven. However, the probability of a component of the suspension system like shock absorbers, springs, and control arms getting damaged due to the impact of the irregular roads or potholes is high.
BWI Group, Continental, Magneti Marelli, Tenneco, LORD Corporation, Mando, and thyssenkrupp Bilstein.
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