Automotive Suspension System Market to See 5.11% CAGR, States M&M in Its New Research Report Published at MarketPublishers.com
10 Jun 2016 • by Natalie Aster
LONDON – The world suspension system sector is poised to post a 5.11% CAGR up to 2021, reaching the USD 67.22 billion market by the end of the projected period. The main factors stimulating the growth of the market encompass demand for enhanced safety, comfort, and road handling capabilities of suspension systems. Furthermore, the demand for lightweight vehicles is resulting in the elevated demand for cutting-edge suspension systems.
The demand for independent and/or semi-independent suspension systems is rising incessantly as it isolates the body from on-road shocks and vibrations, consequently providing better comfort and safety for passengers on a trip. North America is the largest market for semi-independent and independent suspension systems, mainly owing to a hike in the demand for luxury vehicles across the region. In the USA, the sales of Lexus, Mercedes Benz and BMW have surged by 10.7%, 3.8% and 1.8%, respectively, in 2015 YoY. The sales of light weights vehicles rose by 5.7% as against 2014.
Tenneco Inc., Schaeffler AG, KYB Corporation, Continental AG, Magneti Marelli S.p.A., Benteler International AG, Mando Corporation, ZF Friedrichshafen AG, ThyssenKrupp AG, and WABCO holdings Inc. are the leading players in the marketplace.
New report “Suspension Market -Forecast to 2021” created by M&M presents an insightful analysis of the marketplace globally. It provides market segmentation based on system type, by region, architecture, damping type, and by component. A geographical market analysis is included, too. The study contains an industry analysis covering major industry trends and Porter’s five forces analysis; presents a supply chain analysis; and reviews the emerging and high-potential segments of the automotive suspension system sector. It examines the competitive landscape and offers top company profiles; casts light on high-growth regions and nations; reviews government incentives; and evaluates the market dynamics like opportunities, restraints, drivers, and major challenges. The report carefully assesses the R&D activity landscape, forthcoming technologies, and new product launches in the industry.
More reports by M&M can be found at the publisher’s page.