Global Automotive Suspension System Market is Likely to Thrive at 4.8% Over the Forecast Period – Research Nester
Automotive suspension system is a basic system which is used to suspend a vehicle frame, body, engine and other parts above the wheels. Suspension system is equipped in a vehicle in order to control forces produced by the tires while acceleration, braking and cornering.
New York, United States – September 27, 2018 /MarketersMedia/ —
“Automotive Suspension System Market: Global Demand Analysis & Opportunity Outlook 2027”
The global automotive suspension system market is segmented into vehicle type such as passenger cars, low commercial vehicle and heavy commercial vehicles. Among these segments, passenger cars segment is expected to capture major market share in global automotive suspension system market by 2027. In addition to this, increasing sales of new passenger cars in both develop and developing countries is the factor behind the rise of the passenger cars market size in 2017 and expected to reach exponential value during the forecast period i.e. 2018-2025.
Global Automotive Suspension System Market is expected to register a 4.8% CAGR over the forecast period. Moreover, increase in number of luxury car sales along with introduction of technological advanced suspension system is predicted to boot the revenue of global automotive suspension system market in near future. Regionally, Asia Pacific automotive suspension system market is likely to grow at unprecedented rate during the forecast period. The automotive suspension system market is growing in Asia-Pacific region owing to rapidly expanding two wheeler industry and high investments in the automotive industry from OEMs.
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Rising Environment Concerns
Presence of strict government rules regarding emission level of vehicle due to rising carbon and Nox emission is predicted to be the major factors behind the growth of global automotive suspension system market over the forecast period. Additionally, this factor is likely to increase the demand for advanced suspension system in near future.
Rising Production of New Vehicles
Increasing sales of electric and hybrid vehicles are also expected to bolster the growth of automotive suspension system market in upcoming years. In addition to this, in January 2018, a joint development of suspension modules for electric vehicles have started by Toyo Rubber Industry Co. and GLM, a Kyoto-based electric vehicle maker. These factors are envisioned to bolster the market of automotive suspension system by the end of 2025. However, decline in the number of passenger car sales in America region is projected to dampen the growth of automotive suspension system market over the forecast period.
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The report titled “Automotive Suspension Systems Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global automotive suspension system market in terms of market segmentation by system, by vehicle type, by geometry, by component, by suspension type, by distribution channel and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global automotive suspension system market which includes company profiling of BWI Group, Continental AG, Magneti Marelli S.p.A, Tenneco Automotive Inc., Hendrickson USA, L.L.C., LORD Corporation, Thyssenkrupp Bilstein, Mando Automotive India Private Limited, Sogefi Spa, WABCO and other notable players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive suspension system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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