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Automotive Suspension System Market Trends

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

Automotive Suspension System Market Trends

The increasing integration of smart suspension systems with vehicle control units for real-time adjustments is driving the market growth. This trend is driven by the demand for enhanced safety and comfort, with smart suspensions enabling more accurate responses to road conditions, vehicle load, and driving behavior. Manufacturers are incorporating advanced sensors, electronic control units, and machine learning algorithms into these systems, particularly for autonomous vehicles, where superior control and stability are crucial. This trend is transforming suspension systems from purely mechanical components to intelligent, responsive systems that contribute to the overall intelligence of modern vehicles.
 

The high cost associated with advanced suspension technologies is hindering the market growth. Components such as electronically controlled shock absorbers and air suspension systems involve complex manufacturing processes and require high-quality materials, making them considerably more expensive than traditional systems. These high costs limit adoption, especially in price-sensitive markets and lower vehicle segments. Additionally, the higher price point of advanced suspension systems makes it difficult for aftermarket manufacturers to remain competitive, potentially hindering widespread market growth and adoption as the cost barrier restricts potential customers from choosing advanced suspension upgrades.

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.

Automotive Suspension System Market Scope

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Premium Report Details

  • Base Year: 2024
  • Companies covered: 20
  • Tables & Figures: 200
  • Countries covered: 21
  • Pages: 180
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