Automotive Suspension Market To Reflect a Significant CAGR Of 7.8% by 2026

By Ronak Bora

Global automotive suspension market is anticipated to depict a CAGR of 7.8% through 2026, having recorded a valuation of 549.6 billion in 2019. By 2026, the automotive suspension industry is expected to hit a remuneration of 695billion. North America is considered to be a lucrative market for automobile suspension companies as the region is witnessing healthy growth in goods transportation and commercial vehicle sales. According to sales tracker Autodata, car and truck sales in the U.S. was recorded around 17.6 million in 2016. While in 2019, North America controlled nearly 14% of the global automotive suspension industry share.
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The automotive suspension market has been put into different segments such as type, distribution channels, vehicle type, architecture and technology. OEMs have been widely deploying multi-link suspension, equipped with four or even five arms, that lets an independent sprung wheel combining both the handling and the ride quality.
Rear monoshock suspensions are common systems that provide convenient maneuvering as they tend to keep more focus on single-point loads commonly used in two-wheelers. With the rising population and urbanization, there has been an increase in the disposable income at hand which has led to significant growth in the demand for two-wheelers across the developing countries.
Four-wheeler suspensions meanwhile are categorized into semi-independent, dependent, and independent. The semi-independent suspension segment is anticipated to observe steady growth. They are preferably used with the rear axle due to its simple design and are time durable and lightweight. They are also comparatively less expensive than independent suspension and delivers better ride handling than dependent suspensions.  When it comes to distribution channels, OEMs are reported to hold a major market share and are likely to maintain their dominance over the coming years. Automotive suspensions developed by OEMs normally have a long service life and provide high quality
Manufacturers are working with automakers to develop customer suspensions for vehicles. For instance, SsangYong, a Korean automaker, has joined forces with Australian OEM, Ironman 4x4 to integrate a new suspension system on its latest model, the Musso XLV. The testing reportedly included analyzing the suspension kit’s capability to improve overall ride quality of the vehicle.
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Partial Chapter of the Table of Content
Chapter 6. Automotive Suspension Market, By Technology
6.1.    Global market technology insights
6.2.    Conventional
6.2.1. Market estimates and forecast, 2016 - 2026
6.2.2. Market estimates and forecast, by region, 2016 – 2026
6.3.    Advanced
6.3.1. Market estimates and forecast, 2016 – 2026
6.3.2. Market estimates and forecast, by region, 2016 – 2026
Chapter 7. Automotive Suspension Market, By Distribution Channel
7.1.    Global market distribution channel insights
7.2.    OEM
7.2.1. Market estimates and forecast, 2016 - 2026
7.2.2. Market estimates and forecast, by region, 2016 – 2026
7.3.    Aftermarket
7.3.1. Market estimates and forecast, 2016 – 2026
7.3.2. Market estimates and forecast, by region, 2016 – 2026
Chapter 8. Automotive Suspension Market, By Vehicle Type
8.1.    Global market vehicle type insights
8.2.    Passenger cars
8.2.1. Market estimates and forecast, 2016 - 2026
8.2.2. Market estimates and forecast, by region, 2016 – 2026
8.3.    Light commercial vehicles
8.3.1. Automotive suspension market estimates and forecast, 2016 – 2026
8.3.2. Market estimates and forecast, by region, 2016 – 2026
8.4.    Heavy commercial vehicles
8.4.1. Market estimates and forecast, 2016 - 2026
8.4.2. Automotive suspension market estimates and forecast, by region, 2016 – 2026
8.5.    Two wheelers
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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