Suspension System Market to Hit 5.11% CAGR to 2021

Jun 10, 2016, 06:00 ET from Market Reports Hub

PUNE, India, June 10, 2016 /PRNewswire/ --

The suspension system market is hovering at a stable growth rate propelled by factors like demand for better comfort, safety, and road handling capabilities of suspension systems and the demand for light-weight vehicles is also leading to the increased demand for advanced suspension systems.

Complete report on global suspension system market spread across 260 pages, profiling 10 companies and supported with 99 tables and 76 figures is now available at http://www.marketreportshub.com/suspension-system-industry-research-marketsandmarkets.html .

The suspension system market is forecast to grow at the CAGR of 5.11% from 2016 to 2021 to reach the market size of USD 67.22 billion by 2021. The market has witnessed considerable growth in emerging economies such as China and India. The Chinese automotive market is growing as the economy and spending capability of the population is growing. Infrastructural developments are boosting the growth of the commercial vehicle segment. The substantial population in this region and government support for foreign direct investments (FDIs) has presented attractive market opportunities for suspension manufacturers and suspension suppliers. For instance, the Government of India allows 100% FDI for the automotive sector. Additionally, improving socio-economic conditions in countries such as India, Thailand, and Indonesia has resulted in increased demand for high end vehicles, in turn increasing demand for advanced suspension systems.

The demand for semi-independent/independent suspension systems is increasing continuously as it isolates the body from road shocks and vibrations, hence providing increased safety and comfort for passengers while travelling. The major types of semi-independent/independent suspension system are MacPherson strut and double wishbone, which are majorly used in the passenger car segment. The demand for semi-independent and independent suspension systems is highest in North America. The factor which is majorly driving the market is increasing demand for luxury vehicles in this region. In the U.S., sales of BMW (Germany), Lexus (Japan) and Mercedes Benz (Germany) have increased by 1.8%, 10.7%, and 3.8%, respectively, in 2015 as compared to 2014. The sales of light vehicle were up by 5.7% compared to 2014. These factors directly impact the semi-independent/independent suspension system market.

There are various upcoming technologies in the field of suspension systems such as energy recovery suspension system, E-corner suspension modules, active curve tilting, magnetic dampers, AIRMATIC and others. The technology named AIRMATIC, is a combination of adaptive damping system (ADS) and air springs. The AIRMATIC air suspension system adapts the suspension bumps and uneven road surfaces. It is employed in the new Mercedes C-Class and provides a high level of comfort and safety.

Key players operating in the suspension system market include ZF Friedrichshafen AG (Germany), Tenneco Inc. (U.S.), KYB Corporation (Japan), Continental AG (Germany), Magneti Marelli S.p.A (Italy), Benteler International AG (Austria), Schaeffler AG (Germany), WABCO holdings Inc. (Belgium), MandoCorporation (South Korea) and ThyssenKrupp AG (Germany).  Order a copy of Suspension Market by System (Passive & Semi-Active/Active), Damping (Hydraulic/Pneumatic, Electromagnetic), Architecture (Dependent & Semi-Independent/Independent), Leaf Spring & Air Suspension Markets, Component, Vehicle Type, & by Region-Forecast to 2021 research report at http://www.marketreportshub.com/purchase?rpid=3087 .

To determine the market size of various segments and sub-segments of the suspension system, extensive secondary research is done. In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. By company type OEM (63%), Tier 1 (29%) and Tier 2 (8%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (45%), Directors Level (43%) and others (12%) from various key organizations operating in the global suspension system. The primary interviews were conducted worldwide covering regions such as North America (58%), Europe (30%) and Asia-Oceania (12%)

On a related note, another research on Vehicle Security System Market Industry Trends and Forecast to 2021 says the global market is projected to grow at a CAGR of 7.2% from 2016 to 2021.The market is estimated to be USD 7.57 billion in 2016, and is projected to reach 10.75 billion by 2021. The growth of this market is fueled by the rising vehicle production and increasing installation of safety features in vehicles. The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. Companies like Continental AG, Delphi Automotive, Lear Corporation, Robert Bosch GmbH, Valeo SA, Hella Kgaa Hueck & Co., Mitsubishi Electric Corporation and others have been profiled in this 190 pages of research report available at http://www.marketreportshub.com/vehicle-security-system-industry-research-marketsandmarkets.html .

Explore more reports on automotive & transportation market at http://www.marketreportshub.com/categories/automotive-transportation

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