Automotive Suspension Systems Market Projected to Reach $79.13 Billion by 2028
Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Automotive Suspension Systems Global Market Report 2024" report has been added to * ResearchAndMarkets.com's* offering.
The latest research publication added to our extensive repository offers a comprehensive analysis of the global automotive suspension systems market, charting its potential growth trajectory through 2028. The study, rich with statistical insights, chronicles the industry's evolution and serves as a critical tool for stakeholders seeking informed strategic decision-making.
According to this in-depth report, the automotive suspension systems market is forecasted to expand from $65.99 billion in 2024 to an impressive $79.13 billion by 2028, achieving a stable compound annual growth rate (CAGR) of 4.6%. This substantial growth underscores the market's response to an uptick in demand across several regions, with Asia-Pacific leading as the most significant market contributor.
The automotive suspension systems industry has experienced a shift in momentum due to a surge in luxury and high-performance vehicle sales, with consumers showing elevated interest in advanced technologies for superior ride comfort and handling. The industry trends also indicate a rising inclination towards electric and autonomous vehicles, which necessitates continuous innovation in suspension technology.
Focused on key market segments, the report examines the critical components that encompass coil springs, leaf springs, air springs, and shock absorbers, among others. With a thorough evaluation of market dynamics, the publication delves into the intricacies of passive, semi-active, and active suspension systems, exploring their adoption across both passenger and commercial vehicles.
*Key Market Trends and Technological Advancements*
An array of trends propelling the market forward has been outlined in the report. Among these, the electrification of suspension systems, cutting-edge adaptive technologies, and the advent of smart sensors for predictive maintenance are particularly noteworthy.
Technological developments are playing a pivotal role, with industry leaders focusing on active suspension systems that integrate real-time adjustment capabilities. Innovations such as the implementation of lightweight materials for enhanced efficiency and tailored suspension setups catering to varying driving modes are expected to be instrumental in driving market expansion in the forthcoming years.
*Regional Insights and Competitive Landscape*
The automotive suspension systems market is geographically dissected in the report, with Asia-Pacific reigning as the largest contributor. The study further provides astute country-wise analysis, featuring thorough inspections of the automotive landscapes in Australia, Brazil, China, France, Germany, India, and other key nations.
The competitive landscape is also prominently explored, detailing the activities of major incumbents in the market. Recent strategic maneuvers, such as acquisitions and technological partnerships, shed light on the efforts made by companies to bolster their market positioning and enhance their product offerings.
The report serves as a crucial resource, offering a granular view of the market's valuation, dissecting assembly sales, and emphasizing consumption values particular to designated geographies and segments.
*Market Projections and Forecasts*
1. Steady growth from $65.99 billion in 2024 to $79.13 billion in 2028 at a CAGR of 4.6%.
2. Heightened sales in luxury and performance vehicle segments influencing market growth.
3. Technological advancements and active suspension systems shaping future market dynamics.
4. Asia-Pacific maintains the lion's share of the market, with other regions showing significant activity.
*A selection of companies mentioned in this report includes*
· Continental AG
· ZF Friedrichshafen AG
· Tenneco Inc.
· Magneti Marelli SpA
· ThyssenKrupp Automotive Systems
· WABCO Vehicle Control Systems
· Mando Corporation
· BeijingWest Industries International Limited
· KYB Corporation
· Hitachi Astemo Americas Inc.
· TRW Automotive Holdings Inc.
· LORD Corporation
· Porsche AG
· Mercedes-Benz AG
· Multimatic Inc.
· Sanluis Corporacion S. A. B. de C. V.
· Hyundai Mobis Co. Ltd.
· Sogefi SpA
· Skyjacker Suspensions
· HSD Co. Ltd.
· Eibach GmbH
· KW automotive GmbH
· GReddy Performance Products Inc.
· Fabtech Motorsports
· Koni BV
· Dorman Products Inc.
· Öhlins Racing AB
· TEIN Inc.
· Yellow Speed Racing Inc.
· Gabriel India Limited
For more information about this report visit https://www.researchandmarkets.com/r/rj3fps
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