Global automotive suspension market seems to reach USD 94.20 billion by 2033, at a CAGR of 4% from 2024 to 2033. Global automotive suspension market is witnessing a considerable growth owing to the increase in the demand of the car and the need for luxury and comfort in the car. Nowadays, vehicle safety and comfort are given a lot of importance. Consumers also understand their importance and are ready to spend their money on them. The increasing adoption of electric vehicles will also lead to growth in the automotive suspension market. Technological advancements will also lead to further growth of this market. Because of this, the suspension can be made from lightweight material, which can reduce its cost and maintain the weight of the vehicle.

Market Overview:

The automotive suspension is the elastic system that is designed to cushion the impact of road irregularities on the automotive vehicle. These systems are the dynamic system which is related to the safety and comfort of the user driving the vehicle and also of other traffic participants. The technical condition of the system decides the vehicle behaviour under different conditions like the road condition, the speed at which it is driven, braking distance, grip, acceleration etc. The main job of the suspension is to increase the friction between the tire and the road surface, which gives the steering stability, good handling and gives comfort to the passenger. The suspension may be was not required with perfectly flat road and no irregularities. But the present condition is that roads are far from flat. A bump in the road leads the wheel to go up and down, perpendicular to the road surface, but the vertical acceleration of the vehicle, when it passes the bumps, is transferred to it, which moves in the same direction causes the wheel to lose contact with the road completely.

The gravity pulls the vehicle and slam back the wheel on the road. This created the requirement of the system that absorbs the force of vertically accelerated wheel, which provide the frame and the body to go undisturbed when the wheel passes the bumps. The advancement in technology in vehicular components, increase in the demand of cars have led to increase in the production of cars, the need for luxury and comfort in the car are some of the factors driving the automotive suspension market. The increase in demand for lightweight suspension system, due to the requirement of better fuel efficiency will fuel this market in the forecasting period. Good suspension leads to better driving experience, comfort in the car, by enhancing the body movement of the vehicle. Vehicles like ambulances are required better quality suspension, to avoid further injury to the patient travelling in it. Such factor is driving automotive suspension market. Good suspension gives the vehicle strong control and stability on the road. The suspension system controls excessive tyre bounce, which increases the tyre's life. A suspension system is very important for off-road vehicles. It helps these vehicles drive easily in any condition.

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Market Dynamics:

Drivers

• The increase in the demand of the car.

There is an increase in the demand for the car, which has led to an increase in the production of cars. Increase in disposable income among people, especially in a developing country like China and India. There is an increase in demand in developed countries also like in Japan. The rise in disposable income has made people looking for comfort and ease of life, while travelling also. This has increased the demand for the cars. With the increase of per capita income, the infrastructure of the countries have also improved and is further developing this is also leading to increase in the demand of automobiles, which in turn is propelling automotive suspension market.

• The need for luxury and comfort in the car

The increase in per capita income in the developed and developing countries have raised the standard of living in the people. This has also raised the standard in car. People are now looking for the car that gives more comfort and luxury. This has increased the production of such cars. The advancement in technologies are helping the car manufacturers in producing the car with all the latest facilities. All these factors are driving the car market, which in turn is propelling the automotive suspension market.

Restraints:

• The maintenance cost of advanced suspension system is high

The maintenance cost for the advanced suspension system is high, and that is acting as a major restraint for the market. The further advancement or maintenance requires manpower, hardware, and all the latest tools required for an update. All these things could be expensive. The maintenance of advanced system also requires the skilled worker, for the installation of the device and tools, this would further increase the price, all these things are adding up the price so acting as a restraint for the market.

Opportunities:

• The increasing demand of light weight suspension system

The requirement for luxurious and comfortable cars needs the advanced suspensions in the car, which provide better grip on the road and also does not give much shocks or turbulence while driving, hence giving comfortable experience to the car driver and to the people sitting inside. To make the car more comfortable and to improve the fuel efficiency of the car, the lightweight suspension system are growing in demand. These are made of aluminium, titanium alloys, carbon fiber etc. The lightweight suspension reduces the weight, which helps in improving the fuel efficiency of the car and also such materials provide better shapes, which also gives better shockproof system, all these factors are fuelling the lightweight suspension system and will continue to grow in the forecasting period.

Segmentation Analysis:

The global automotive suspension market has been segmented based on system, vehicle type, component and regions.

• The system segment is divided into a passive system, semi-active and active system. Semi-active system is accounted for the highest market share of 38.8% in 2023 due to the reason that it is better than the passive system, which was having the performance limitations and it is more economical when compared to the active system, which is costly. This also consume less energy compared to active system suspension.
• The vehicle type segment includes passenger car and commercial vehicle. The passenger car accounts for largest market share of 57.24% in 2023. This is due to an increase in disposable income of the people in developing countries; there is a surge in the demand of the car. The rise in the disposable income have raised their living standards, with the rise in living standards, the demand for luxurious cars are common. This has increased the production of passenger vehicle. The improvement in the infrastructure and the expansion plan of the city in a developed and developing country makes the commercial vehicle segment has the highest CAGR in the forecasting period.
• The component segment includes air compressor, ball joint, spring, shock dampener and others. The shock dampener segment is accounted for the highest market share of the market in 2023, which is 32.41%.  Besides reducing the effect of the jerks, this also helps the vehicle in preventing the too much tilt on one side while taking sharp turns. These systems causes the vehicle more stable and easily controllable.

Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Asia Pacific is accounting for the highest marketing share in 2023.

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• Asia Pacific region is having the highest market share of 39.42% in 2023, due to the rapid urbanization in the emerging economies like China, India etc., increasing per capita income, population growth has led to increase in the production of the vehicle by the vehicle manufacturer. The urbanization has led to increase in demand for the commercial vehicle, and the increasing disposable income has improved the living standard of the people, they are a looking for much comfort and ease of life, this has increased the demand of cars and luxurious cars also. All these factors are propelling the automotive suspension market in the region.
• North America had the second-largest market share of 30.87% in 2023. All the major car manufacturing companies lies on this belt. Also, the people here look for the comfortable and more advanced car, having the most advanced facilities, these demands have increased the production of the car in this region which in turn driving the automotive suspension market.

Competitive Analysis:

In February 2020, Fox Factory Holding is to acquire SCA performance holdings Inc. This acquisition will help the organization in strengthen its performance defining aftermarket solutions and also increase in the production of powered vehicle.

In March 2019, Continental AG got the approval to acquire the anti-vibration system segment of Cooper-Standard organization. This acquisition provides the Cooper Standard expertise of material and product design, system integration and vehicle testing etc.

List of Key Market Players:

• Continental AG
• Fox Factory, Inc.
• Gabriel India Limited
• Hendrickson USA, L.L.C.
• KYB Corporation
• Mando Corporation
• Sogefi S.P.A.
• Tenneco INC.
• Wabco
• ZF TRW

Key Target Audience

• Automotive Industries
• Research & Consulting Firms
• Regulatory Bodies

Report Description:

• Global Automotive Suspension Market, Industry Analysis, Trends, Analysis and Forecast, 2024 to 2033 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
• 2023 is considered as the base year of the report. 2020 to 2022 are considered as the historic years and 2024 to 2033 are the forecast years. The global Automotive Suspension market is based on revenue (USD Million/Billion), volume and price. The report incorporates the market study on the basis of revenue, and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global Automotive Suspension market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
• The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of system, vehicle type, component and regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to fathom market growth and development in future.
• The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global Automotive Suspension market.  This offers vital and in depth insights in order to depict the overall market scenario.
• The report offers the detailed study for the company profiles of key organizations operating in the global Automotive Suspension market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario. 
• The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
• Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which acts as a key potential for the investors. 
• Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global Automotive Suspension market) is covered in order to comprehend the adoption rate and evaluate the market size.