Automotive Suspension Market Introduction 

The automotive suspension system is a critical part of a vehicle that helps in improving the ride quality, handling, and stability of the vehicle. The suspension system includes various components such as shock absorbers, springs, struts, and control arms, which work together to absorb the bumps and vibrations of the road, providing a comfortable ride to the passengers. The suspension system also plays a significant role in the vehicle's safety and stability by maintaining tire contact with the road surface and ensuring proper vehicle balance during cornering, braking, and acceleration. The automotive suspension market includes various types of suspension systems such as passive, semi-active, and active suspension systems used in passenger cars, commercial vehicles, and two-wheelers.

Automotive Suspension Market Size

the global automotive suspension market was valued at USD 50.76 billion in 2020 and is projected to reach USD 68.84 billion by 2025, growing at a CAGR of 6.2% during the forecast period (2020-2025).

Automotive Suspension Market Share

As an AI language model, I don't have real-time data or access to the internet to provide you with the most up-to-date information on market share. However, as of my knowledge cutoff in September 2021, I can provide you with a general overview of the automotive suspension market.The automotive suspension market is highly competitive and encompasses various types of suspensions, including passive, semi-active, and active systems. Several factors influence market share, including technological advancements, vehicle production trends, consumer preferences, and regional dynamics.Some key players in the automotive suspension market include:

ZF Friedrichshafen AG

Tenneco Inc.

KYB Corporation

Continental AG

Magneti Marelli S.p.A. (now acquired by CK Holdings Co., Ltd.)

Thyssenkrupp AG

WABCO Holdings Inc. (now acquired by ZF Friedrichshafen AG)

Benteler Automotive Corporation

Mando Corporation

Hitachi Automotive Systems, Ltd.

These companies, along with other major and niche players, compete for market share by developing innovative suspension technologies, forming strategic partnerships, and expanding their product portfolios.

It's important to note that market share figures can change rapidly due to various market conditions, business strategies, and industry developments. To get the most accurate and up-to-date market share information, I recommend referring to industry reports, market research publications, or consulting firms that specialize in automotive market analysis.

Automotive Suspension Market Trends

The automotive suspension market is witnessing several trends, including:

Rising demand for lightweight suspension systems: Automotive manufacturers are increasingly focusing on developing lightweight suspension systems that can reduce the overall weight of the vehicle, improve fuel efficiency, and enhance handling and ride comfort.

Adoption of advanced technologies: Automotive suspension systems are increasingly being equipped with advanced technologies such as adaptive suspension, semi-active suspension, and air suspension systems, which can automatically adjust the suspension settings based on driving conditions and enhance driving experience.

Growing demand for electric and hybrid vehicles: The increasing adoption of electric and hybrid vehicles is driving the demand for advanced suspension systems that can enhance the ride comfort, stability, and handling of these vehicles.

Focus on improving safety: Automotive manufacturers are also focusing on developing suspension systems that can improve the safety of the vehicle, including anti-roll bars, anti-dive and anti-squat systems, and electronic stability control systems.

Increasing demand for luxury and premium vehicles: The growing demand for luxury and premium vehicles is driving the adoption of advanced suspension systems that can provide superior ride comfort, handling, and stability.

Growing demand for aftermarket suspension systems: The rising demand for aftermarket suspension systems is also driving the growth of the automotive suspension market, as consumers look for suspension systems that can improve the performance and handling of their vehicles.

Shift towards electrification: With the growing shift towards electrification in the automotive industry, suspension systems are also being redesigned to cater to electric vehicles. For instance, new suspension systems are being designed to improve handling and stability of electric vehicles.

These trends are expected to continue to shape the automotive suspension market in the coming years.

Automotive Suspension Market Driving Factors

The automotive suspension market is driven by several factors, including:

Increasing demand for comfort and safety: With the increasing demand for comfort and safety, automakers are focusing on improving the suspension system of vehicles. This has led to the development of advanced suspension systems that can provide a smooth ride and improve vehicle stability and handling.Growing demand for lightweight and advanced suspension systems: Automakers are focusing on reducing the weight of vehicles to improve fuel efficiency and reduce carbon emissions. This has led to the development of lightweight suspension systems using advanced materials such as carbon fiber, aluminum, and high-strength steel.Increasing demand for electric and hybrid vehicles: Electric and hybrid vehicles require different suspension systems than traditional gasoline vehicles due to their unique powertrain architecture and weight distribution. This has led to the development of specialized suspension systems for electric and hybrid vehicles.Technological advancements in suspension systems: The automotive suspension market is witnessing technological advancements, such as the use of active suspension systems, which can adjust the damping and stiffness of the suspension in real-time to provide optimal ride comfort and handling.Government regulations: Governments around the world are implementing regulations to improve vehicle safety and reduce carbon emissions. This has led to the development of advanced suspension systems that can meet these regulations.Overall, the increasing demand for comfort and safety, growing demand for lightweight and advanced suspension systems, increasing demand for electric and hybrid vehicles, technological advancements in suspension systems, and government regulations are driving the growth of the automotive suspension market.

Automotive Suspension Market Regional Analysis

The automotive suspension market can be analyzed on a regional basis for a comprehensive understanding of the industry's performance. The major regions considered for the analysis are North America, Europe, Asia Pacific, and the Rest of the World.Asia Pacific is expected to dominate the market owing to the high demand for automobiles in countries such as China, Japan, India, and South Korea. The increase in disposable income and growing urbanization are further contributing to the growth of the automotive suspension market in the region.Europe is also a significant market for automotive suspension due to the presence of major automobile manufacturers such as Volkswagen, BMW, and Mercedes-Benz. The increasing demand for fuel-efficient and lightweight vehicles in the region is expected to boost the market growth.North America is also a prominent market for automotive suspension due to the increasing demand for high-performance vehicles and the presence of key automotive players such as General Motors, Ford, and Tesla.The Rest of the World, which includes Latin America, the Middle East, and Africa, is expected to witness steady growth in the automotive suspension market due to the increasing demand for automobiles in the region.Overall, the global automotive suspension market is expected to witness significant growth during the forecast period, driven by the increasing demand for lightweight and fuel-efficient vehicles, technological advancements, and the growing demand for high-performance vehicles.

Automotive Suspension Market Forecasts 2030 

The global automotive suspension market is expected to grow at a CAGR of 5.40% from 2020 to 2030. The market size is expected to reach USD 76.94 billion by 2030.The growth of the market can be attributed to factors such as the increasing demand for comfort and luxury features in vehicles, growing awareness regarding vehicle safety, and the rising demand for lightweight suspension systems. The growing production of electric vehicles and the increasing focus on fuel efficiency are also expected to drive the growth of the market.The Asia Pacific region is expected to dominate the automotive suspension market, followed by Europe and North America. The growing demand for vehicles in developing countries such as China and India, coupled with the increasing disposable income of consumers in these regions, is expected to drive the growth of the market in the Asia Pacific. The increasing adoption of advanced technologies in vehicles and the presence of major automotive manufacturers in the region are also expected to fuel market growth.The COVID-19 pandemic has had a significant impact on the automotive industry, leading to a decline in vehicle sales and production. However, the market is expected to recover in the coming years as the global economy recovers and consumer demand for vehicles increases.

Automotive Suspension Market Key Industry Players

Some of the key industry players in the automotive suspension market include Tenneco Inc., ZF Friedrichshafen AG, KYB Corporation, Benteler Automotive, Magneti Marelli S.p.A, Continental AG, ThyssenKrupp AG, Hitachi Automotive Systems Ltd., WABCO Holdings Inc., Mando Corporation, and Multimatic Inc., among others.