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With humungous economic development in countries such as China and India, there is increase in demand for vehicles in these countries. The market condition is very favorable due to the growth in automotive sales in these countries. Technavio's market research report has identified increasing vehicle demand from emerging countries as one of the primary factors that will fuel the growth of the automotive suspension system market in the coming years. Increasing demand for suspension system in this region is in turn increasing the production of automotive suspension system. Moreover, rapid urbanization and improvement of the middle-class population is increasing the demand for vehicles in the developing countries such as China and India which is driving the market positively. Technavio's market research analysts predict that this global market will post a revenue of more than USD 220 million by 2021.
Introduction of MagneRide suspension system is one of the key trends contributing towards the automotive suspension system market. For providing comfortable ride, Delphi automotive has developed a magnetorheological damper system, which utilizes shock absorbers and magnetically controlled dampers. There are several features which differentiates this suspension from others such as low-velocity damping control, fast response, and the ability to draw the force-velocity curve. This technology is considered as an upcoming trend which can drive the growth of the market in the next five years.
The automotive suspension market is highly competitive with the presence of few established players. The competition in the market is intensifying due to the growing demand for efficient road handling, ride comfort, and enhanced safety. With the evolution of automotive technologies, ride handling technologies are enhancing due to which the competition in the automotive suspension system components market is intensifying.
The leading vendors in the market are-
The other prominent vendors in the market are LORD Corporation, Mando, and thyssenkrupp Bilstein.
During 2016, passenger cars segment accounted for the major shares of the automotive suspension system market. This segment is witnessing high demand from the emerging economies and revival of developed economies. Passenger cars have become high-end electronic vehicles from mechanically driven vehicles which exhibits characteristics like safety, security, propulsion, and connectivity and these factors are driving the automotive suspension system components market positively.
This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the automotive suspension system market throughout the forecast period. Fast-paced economic development in countries such as China, India, Thailand, Indonesia, and South Korea is increasing the per capita income of the consumers which in turn is building stronger purchasing power of the consumers. APAC is experiencing higher sales of vehicles in the region which is driving the automotive suspension system components market.
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Suspension refers to all integrated systems of the tire, shock absorbers, springs, and linkages connecting the vehicle to its wheels. Suspension usually balances and provides trade-offs between two factors, ride comfort and ride stability. This upcoming research report on the global automotive suspension system market offers insights into the key trends and emerging drivers influencing the growth of the automotive industry. Our market research reports for the automotive industry also follow a strict data collection methodology and offer an analysis of crucial market segments like automotive components. The report also presents an overview of the competitive landscape of the market by covering vendors such as Infineon, Lord Corporation, Continental, Mando, BWI, ThyssenKrupp, Magneti Marelli, WABCO, Dongfeng Motor, and Hendrickson.
In order to accurately forecast the global growth prospects, our market research experts follow an extensive research approach of both primary and secondary research and carry out an in-depth analysis of factors such as technological advancements, emerging markets, and market attractiveness. The use of complex research tools such as statistical models, trend forecasting, and forecasts also helps the client in understanding the impact of their business decisions on the organization, and thus choose the best decision alternatives.
Technological advancements have driven fierce competition in this market. Currently, some vendors are looking at newer technologies, which can change the landscape of the suspension market. The advent of new technologies such as hybrid carbon fiber aluminum suspension can significantly improve the drive quality and suspension durability. Our analysts predict that these factors can affect the growth pattern of this market. Also, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the global automotive suspension system market also covers geographies like Americas, EMEA, and APAC.
The upcoming industry research report on the global automotive suspension system market identifies other fundamental aspects of business intelligence such as profits, technology, product, distributions, as well as opportunities and challenges faced by the industry. Technavio also provides deep-dive market assessments into the sectors such as automotive services, wheels and tires, and auto accessories.
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
PART 05: MARKET LANDSCAPE
PART 06: MARKET SEGMENTATION BY VEHICLE
PART 07: GEOGRAPHICAL SEGMENTATION
PART 08: DECISION FRAMEWORK
PART 09: DRIVERS AND CHALLENGES
PART 10: MARKET TRENDS
PART 11: VENDOR LANDSCAPE
PART 12: KEY VENDOR ANALYSIS
PART 13: APPENDIX
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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