The global automotive suspension systems market is skyrocketing and is to be valued at US$ 62 Billion in 2022, forecast to grow at a stable CAGR of 4.36% to be valued at US$ 95 Billion from 2022 to 2032. The automotive industry is growing as a result of rising urbanisation, technological advancements, and changes in consumer behaviour. The current automotive suspension systems are being updated with careful research and development in order to enhance the ride quality and road holding capabilities of the vehicle.

The springs, structures, ball joints, shock absorbers, and control arms that support the connection between the car and the wheel and provide relative motion between the two make up the suspension system of an automobile. The camber of the wheel, the castor of the hub, the toe of the car, and the kingpin inclination of the control arms all play a role in determining the geometry and technique used to create suspension.

Suspensions are regarded as a crucial component of a car since they maintain the wheels on the ground when driving, shield the interior from damage, lessen shocks, and keep the cargo safe from abrasion. Furthermore, it shields the vehicle from high-frequency vibrations brought on by tyre excitation.

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Key Takeaways

• Suspensions are vital for good ride quality and automobile handling control. A comfortable ride promotes convenience for passengers, prevents cargo damage, and decreases driver fatigue on extended voyages. Attributing to such crucial factors are resulting in surging sales of automotive suspension systems in the global market.
• Since cars with firm suspension may result in better control of body motions and faster reflexes, it is increasingly becoming a crucial part of an automobile. Ambulances require improved vehicle suspension to minimize further damage to already unwell passengers. Such factors have increased the desire for greater driving comfort, which has benefited the worldwide automotive suspension systems market's development.
• The SUV market has seen reasonable growth in recent years. Due to the cheap cost, small size, modern designs, and superior agility, the SUV & sub-compact SUV industry has seen significant expansion in nations such as the United States, China, India, and Mexico. The excessive use of multilink suspensions is witnessed in the market. The lower cost of multilink suspension and the simplicity of modification has expanded the use of multilink suspension in mid- to high-segment vehicles.
• There is a multilink suspension seen in SUVs including Kia Sport, Volkswagen Tiguan, and Mahindra Scorpio. Throughout the projection period, the global automotive suspension systems market is predicted to increase at a pace of 4.36%. SUVs often have independent suspension at both the front and back wheels. As a result, the urge for independent suspension systems is growing.
• At present, air suspensions are preferred more than leaf springs as it delivers optimum comfort and elegance to passengers. As a result, the growing demand for comfort and luxury is driving up demand for automotive suspension systems throughout the world.

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Competitive Landscape

The Benteler Group, Continental AG, KYB Co., Ltd., Magneti Marelli S.p.A., Mando Corporation, Schaeffler AG, Tenneco Inc., TRW Automobile Holdings Corporation, WABCO Holdings Inc., ZF Friedrichshafen AG are some of the key companies profiled in the full version of the report.

There are various players in the market for automotive suspension systems. The automotive suspension systems industry is extremely competitive, with competitors vying to increase their market share. Product innovation and regional growth into new markets will be critical to the success of any automotive suspension systems industry participant.

Key Segments Profiled in the Automotive Suspension Systems Industry Survey

Components:

• Automotive Suspension Spring
• Automotive Shock Dampener
• Automotive Suspension Struts
• Automotive Suspension Control Arms
• Automotive Suspension Ball Joint
• Automotive Suspension Air Compressor
• Automotive Suspension Leaf Spring

Vehicle Type:

• Two-Wheeler Automotive Suspension Systems
• Passenger Car Automotive Suspension Systems
• Commercial Vehicle Automotive Suspension Systems

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East & Africa