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Automotive Double Wishbone Suspension System Market Share

Report ID: GMI10936
Published Date: Aug 2024
Report Format: PDF

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Automotive Double Wishbone Suspension System Market Share

Benteler Automotive and ZF Friedrichshafen AG hold a significant market share of around 10% in the automotive double wishbone suspension system industry in 2023. Benteler invests heavily in research and development to enhance the performance, reliability, and cost-efficiency of double wishbone suspension systems. The company develops customized solutions tailored to specific vehicle segments, such as luxury, sports, and electric vehicles, to meet diverse customer needs.

ZF Friedrichshafen invests in modern suspension technologies, such as adaptive and active suspension systems, to lead the market in advanced solutions that enhance vehicle performance and comfort. The company also focuses on integrating suspension systems with electric vehicle platforms, developing solutions that cater to the specific needs of EVs, including weight distribution and handling.

Automotive Double Wishbone Suspension System Market Companies

Major companies operating in the automotive double wishbone suspension system industry are:

Benteler Automotive
Hendrickson International
Hitachi Automotive Systems Ltd.
Hyundai Mobis
KYB Corporation
Magneti Marelli S.p.A.
Schaeffler AG
ThyssenKrupp AG
Yoruzu Corporation
ZF Friedrichshafen AG

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive double wishbone suspension system reached USD 18.7 billion in 2023 and is set to record over 4% CAGR between 2024 to 2032, owing to the increasing demand for high-performance vehicles including sports cars and luxury vehicles.

The OEM segment held over 75% of the market share in 2023 and is expected to cross USD 20 billion by 2032, as OEMs are seeking suspension systems that can handle the unique weight distribution and dynamics of EVs and hybrid vehicles.

Asia Pacific held around 43% of the market share in 2023, driven by the rapid growth in automotive production and sales, due to rapid economic growth, increasing disposable incomes, and a growing middle class.

Benteler Automotive, Hendrickson International, Hitachi Automotive Systems Ltd., Hyundai Mobis, KYB Corporation, Magneti Marelli S.p.A., Schaeffler AG, ThyssenKrupp AG, Yoruzu Corporation, and ZF Friedrichshafen AG.