Automotive Suspension Parts Market Demand and Analysis of Key Players – Research Forecasts to 2030

The automotive sector is no stranger to continual innovations and technological advancements. While trends and key areas of interest continue to evolve at a rapid pace within the automotive sector, at present, the scenario is relatively different from a couple of decades ago. Over the past few decades, automotive suspension technologies have taken giant strides in tune with ongoing trends, stringent regulatory norms, and consumer demands. Automotive suspension systems play an imperative role in enhancing the driving experience and maintaining the safety of passengers, offers exceptional handling capabilities, and optimum control of vehicles. Some of the most extensively used automotive suspension components include kinetic parts, shock absorbers, auxiliary devices, and springs.

Over the past decade, a great number of resources have been invested in research activities to improve design capabilities of suspension technologies. In addition, a great amount of research has been carried out on automotive suspension components to ensure improved stability and controllability. Several new patents have been registered by players operating in the automotive suspension parts market over the past couple of decades, and the trend is likely to continue during the forecast period.

At present, one of the current trends within the automotive sector that has gained considerable momentum is minimizing the weight of vehicles to augment efficiency and minimizing carbon emission. The impact of this trend on the automotive suspension parts market can be observed, as market players continue to seek new materials to produce lightweight automotive suspension parts. At the back of these factors, the global automotive suspension parts market is expected to attain a market value of ~US$ 13 Bn by the end of 2030.

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Suspension technologies have taken giant strides over the past few decades, and have evolved from mechanical springs to cutting-edge modern air suspensions integrated with hydraulic shocks. At present, manufacturers operating in the current automotive suspension parts market are increasingly focusing on enhancing suspension systems by introducing new technologies and innovations, including continuous damping control, automatic auxiliary suspensions, body roll control monitors, and air spring ride height sensors. As consumers continue to opt for vehicles that require minimum maintenance and improved lifecycle, next-generation of automotive suspension parts are primarily developed to improve vehicle handling and safety.

This TMR report on the automotive suspension parts market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. Market volume is determined by country wise model mapping of vehicle through internal & external proprietary databases, and relevant patent and regulatory databases. The competitive scenario of the automotive suspension parts market is supported by an assessment of the different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data, current trends and announcement by the key players, researchers of the automotive suspension parts market arrive at predictions and estimations, and calculate the forecast for the market.

This report uses an analytical triangulation method to estimate the numbers and figures of the automotive suspension parts market, with both a bottom-up and top-down approach.

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This detailed assessment of the automotive suspension parts market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the automotive suspension parts market is estimated to expand are based on carefully vetted primary and secondary sources.