Automotive Suspension System Market Will Generate Record Revenue by 2031

The global automotive suspension systems market is anticipated to grow at a considerable CAGR of 4.0% during the forecast period (2024-2031). The advancements in the suspension systems is a key factor driving the growth of this market. Proper suspension system is the key need for the proper working of an automobile. Therefore, key automobile manufacturers such as BYD, Mahindra, Porsche, and Tata among others are actively focusing on the introduction of new advancements in their vehicle suspension system. For instance, in November 2023, Porsche presented the new Panamera: the third generation of the sporty luxury sedan which is characterized by an even broader digital offering, fresh and expressive design, and a greater bandwidth between comfort and sportiness with active suspension system.

Additionally, in April 2023, the Chinese electric vehicle (EV) maker BYD introduced a new technology called the DiSus Intelligent Body Control System, or DiSus. It’s a suspension and body control software for EVs that promises to improve the driving experience of BYD’s electric cars. 

In October 2023, McLaren Automotive recently partnered with Tenneco to name Monroe the Official Intelligent Suspension Supplier for its road car lineup. Tenneco, through its Monroe Intelligent Suspension brand, will supply McLaren with top-of-the-line electronic suspension systems. These systems are far from run-of-the-mill—they’re designed to offer McLaren’s discerning clientele the sort of precise, exhilarating driving experience they’ve come to expect. Such developments are driving the global market growth.

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Market Coverage

•                 The market number available for – 2023-2031

•                 Base year- 2023

•                 Forecast period- 2024-2031

Segment Covered- 

·        By Component

·        By Type

·        By Vehicle Type

Regions Covered-

•                 North America

•                 Europe

•                 Asia-Pacific

•                 Rest of the World

Competitive Landscape- includes Continental AG, thyssenkrupp AG, Marelli Holdings Co., Ltd., Mando Corp., and ZF Friedrichshafen AG among others.

Automotive Suspension System Market Report Segment

By Component

•                 Coil Spring

•                 Leaf Spring

•                 Air Spring

•                 Shock Absorber

By Type

•                 Passive Suspension

•                 Semi Active Suspension

•                 Active Suspension

By Vehicle Type

•                 Passenger Car

•                 Commercial Vehicle

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Automotive Suspension Systems Market Report Segment by Region

North America                                                                                                           

·        United States

·        Canada                     

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan              

·                  South Korea

·                  Rest of APAC

Rest of the World

•       Latin America

•       Middle East and Africa 

Company Profiles

•                 ANG Auto Ltd.

•                 Autonex International

•                 BWI Group

•                 Garg Autocorp.

•                 Hitachi Astemo Ltd

•                 Hyundai Mobis Co. Ltd.

•                 JP Automobile

•                 KYB Corp.

•                 Lamina Suspension Products Ltd.

•                 LORD Corp.

•                 Sogefi SpA

•                 Tenneco Inc. 

•                 Thyssenkrupp AG

•                 Tilak Industries

•                 Unique Auto Spares

•                 Wheels India Ltd.

•                 ZF Friedrichshafen AG

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