The Global Automotive Suspension Market was valued at US$ 43.03 billion in 2021 and is predictable to reach US$ 57.56 billion by 2030 which is projected to attain a CAGR of 3.3% during the forecast period from 2021- 2030.
Automotive suspension comprises a system of springs, shock absorbers, struts, control arms, and ball joints that connect the vehicle to the wheel and allow relative motion between the two. The camber of the wheel, castor of the hub, the toe of the vehicle, and kingpin inclination of the control arms all influence the geometry and system utilized to design suspension.
The growing need for vehicle comfort and safety, as well as the increasing adoption of air suspension systems in heavy commercial vehicles, are driving demand for automotive suspension.
Suspension systems assist in maintaining the vehicle tires in contact with the road during the trip, reducing shocks, and protecting the vehicle and its cargo from damage or wear. Furthermore, it protects the car from high-frequency vibrations caused by tire excitation.
Growing sales of Electric vehicles are anticipated to boost the market growth during the forecast period.
Some of the primary factors fuelling the adoption of electric vehicles are technological breakthroughs in EV charging and significant expenditures from automakers in EVs. Increased electric car sales are predicted to drive the market expansion for the automotive suspension market.
However, the market growth is expected to be hampered by factors such as improved global vehicle regulations and the high maintenance costs of modern suspension systems.
The passenger vehicle segment is expected to be the fastest expanding. Hence, the increase of the suspension system is proportional to the volume of passenger vehicles produced. Independent suspension systems have become more common in modern cars as the need for comfort and safety features has grown.
Suspension is crucial for automotive elegance and comfort, as well as reducing cabin vibrations. Traditional suspension components are made of steel or steel alloys, such as stainless steel and carbon steel. On the other hand, these materials are heavier and have a lower strength than other materials. Automotive lightweight materials such as aluminium, carbon fibre, and titanium alloys have been produced for use in the manufacturing of suspension system components as a result of technological developments in the automotive industry. Furthermore, due to a surge in demand for fuel-efficient vehicles and the implementation of stringent vehicular emission regulations, automotive lightweight materials are expected to see widespread adoption in the automotive industry, providing a lucrative growth opportunity for the automotive suspension market in the upcoming years.
The Asia Pacific has developed as a center for automobile production in recent years, owing to shifting customer preferences, increased per capita income of the middle-class population, and cost advantages for OEMs. Compact and cost-effective cars are popular among consumers in the region.
Segmentation and Scope of the Global Automotive Suspension Market
By Vehicle Type
By Suspension Type
Rest of World
Middle East & Africa
Prominent players in the Global Automotive Suspension Market among other includes