Home > Automotive > Automotive Parts > Tires and Wheels > Automotive Suspension System Market

Automotive Suspension System Market Share

Report ID: GMI1917
Published Date: Nov 2024
Report Format: PDF

Download Free Sample

Automotive Suspension System Market Share

Automotive Suspension System Company Market Share, 2024

ZF, Denso, Tenneco, Schaeffler, Magna, Continental, and Bosch collectively held a significant market share of 36% in the automotive suspension system industry in 2024. ZF maintains competitiveness in the automotive suspension system industry by developing innovative, electronically controlled suspension systems aimed at enhancing vehicle performance, safety, and comfort.

The company emphasizes smart solutions, such as integrated sensor-based suspension systems, which adapt to road conditions in real-time. ZF's focus on modular and scalable solutions allows flexibility for different vehicle segments, including electric and autonomous vehicles. Strategic partnerships and extensive R&D also strengthen ZF's position, enabling it to offer advanced, reliable suspension technologies globally.

Denso maintains a strong presence in the automotive suspension system market by focusing on advanced suspension and electronic control systems for superior vehicle stability and ride comfort. The company leverages its expertise in automotive electronics, integrating its suspension solutions with sensors and control units for real-time adaptability. Denso also focuses on energy-efficient and lightweight materials to support sustainable mobility. Collaboration with automakers, a robust global supply chain, and continuous innovation position Denso competitively within the suspension market.

Automotive Suspension System Market Companies

Major players operating in the automotive suspension system industry are:

Bosch
Continental
Denso
Hyundai Mobis
KYB
Magna
Marelli
Schaeffler
Tenneco
ZF

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of automotive suspension system reached USD 46.6 billion in 2024 and is set to grow at a 6.7% CAGR from 2025 to 2034, driven by the growing adoption of semi-active and active suspension systems.

The OEM segment accounted for USD 32.9 billion in 2024 and is expected to grow significantly over the forecast period, led by the rising preference for original and high-quality suspension components.

Chinas market accounted for 35% of the revenue share in 2024, fueled by its substantial automotive manufacturing base and the rapid adoption of electric vehicles.

The key players in the industry include Bosch, Continental, Denso, Hyundai Mobis, KYB, Magna, Marelli, Schaeffler, Tenneco, and ZF.