Global Commercial Vehicle Suspension System Market 2018-2022
- Published: Nov 2018
- Pages: 110
- SKU: IRTNTR23878
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The commercial vehicle suspension system market size will grow by 12.31 million units during 2018-2022. This report offers an analysis of the market based on application (LCVs and HCVs) and geography (the Americas, APAC, and EMEA). The commercial vehicle suspension system market research report further analyzes the market’s competitive landscape and offers information on several companies including Continental, Hendrickson USA, Tenneco, thyssenkrupp, WABCO, and ZF Friedrichshafen.
Below are some of the key findings from the commercial vehicle suspension system market research report
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Global commercial vehicle suspension system industry overview
The increasing penetration of the air suspension system is one of the key drivers expected to trigger the market’s growth in the forthcoming years. HCVs are increasingly being equipped with air suspension systems for reducing vibration, eliminating engine noise, and improving vehicle handling while transporting heavy loads over unfavorable terrains. The use of an air suspension system further reduces the instances of the trailer bouncing and improves vehicle handling. Also, increased preference for air suspension systems within commercial vehicles is encouraging automotive manufacturers to equip commercial vehicle models with air suspension systems. Following the high penetration rate, the commercial vehicle suspension system market is projected to register a CAGR of close to 5% during the forecast period.
The integration of carbon fibers in commercial vehicle suspension system components is one of the key trends expected to gain traction in the market. Automotive suspension manufacturers are often using alternative materials for developing linkages for reducing overall weight, resisting wear, and improving motion. Vendors are also researching the effects and performance of carbon fiber-reinforced suspension knuckles for enhancing the overall performance of the suspension systems. Consequently, the deployment of carbon fibers in these systems is likely to boost the commercial vehicle suspension system market growth in the forthcoming years.
Top commercial vehicle suspension system companies covered in this market research report
The commercial vehicle suspension system market is moderately fragmented with companies focusing on developing modern systems for catering to the evolving end-user requirements. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this commercial vehicle suspension system industry analysis report is designed to aid clients to identify new growth opportunities and build innovative strategies for strengthening their position in the market.
The report offers a complete analysis of various companies including:
- Hendrickson USA
- ZF Friedrichshafen
Commercial vehicle suspension system market segmentation based on geographic regions
The Americas will account for the largest commercial vehicle suspension system market share throughout the forecast period. The increasing preference for pickup truck vehicles, especially within the US, will drive the demand for commercial vehicle suspension system in the Americas.
Commercial vehicle suspension system market segmentation based on application
The LCVs segment will account for the highest commercial vehicle suspension system market growth as these are cheaper than HCVs and are highly applicable in stop-and-go traffic, light construction, and municipal applications. Additionally, the report will also provide an accurate prediction of the contribution of the various application segments to the growth of the commercial vehicle suspension system market size.
Key highlights of the global commercial vehicle suspension system market for the forecast years 2018-2022:
- CAGR of the market during the forecast period 2018-2022
- Detailed information on factors that will accelerate the growth of the commercial vehicle suspension system market during the next five years
- Precise estimation of the global commercial vehicle suspension system market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- Growth of the commercial vehicle suspension system industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of the commercial vehicle suspension system companies
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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.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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