How Are Historic And Forecast Market Sizes shaping The Automotive Suspension System Market?
The automotive suspension systems market size has grown steadily in recent years, from $65.04 billion in 2024 to $67.78 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.2%. This growth during the historic period can be attributed to increased demand for comfort and safety, government regulations, economic conditions, and environmental regulations promoting fuel efficiency.
Continuing this trend, the automotive suspension systems market size is expected to experience strong growth over the next few years, projected to reach $82.4 billion in 2029 at a CAGR of 5.0%. This growth in the forecast period is likely to be driven by increased demand for electric and autonomous vehicles. Other contributing factors include a growing focus on sustainability and reducing emissions, changes in consumer preferences towards more versatile and adaptable vehicles, and government regulations and safety standards related to autonomous vehicles. Major trends in the forecast period include electrification of suspension systems, development of adaptive and semi-active suspension systems, integration of smart sensors for predictive maintenance, use of lightweight materials for improved efficiency, and customization of suspension systems for different driving modes.
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What Is The Primary Driver For The Automotive Suspension Systems Market?
The rising demand for motor vehicles globally is expected to be a key driver for the automotive suspension systems market. Automotive suspension systems, which maximize the friction between tires and the road, ensure steering stability, good handling, and damage protection. For instance, in August 2024, the European Automobile Manufacturers’ Association reported a rise of 3.9% in new car registrations, exceeding 6.5 million units. The major markets demonstrated modest yet positive growth, with Spain (+5.6%), Italy (+5.2%), Germany (+4.3%), and France (+2.2%) all reporting increases. Therefore, this global demand for vehicles is expected to propel the automotive suspension systems market.
What Are The Key Segments In The Automotive Suspension Systems Market?
The automotive suspension systems market report segments the market by:
1) Type: Passive Suspensions Systems, Semi-Active Suspensions Systems, Active Suspensions Systems
2) Component: Coil Spring, Leaf Spring, Air Spring, Shock Absorbers, Other Components
3) Application: Passenger Vehicles, Commercial Vehicles
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Which Are The Major Players In The Automotive Suspension Systems Market?
Leading companies in the automotive suspension systems market include Continental AG, ZF Friedrichshafen AG, Tenneco Inc., Magneti Marelli SpA, ThyssenKrupp Automotive Systems, WABCO Vehicle Control Systems, Mando Corporation, BeijingWest Industries International Limited, KYB Corporation, Hitachi Astemo Americas Inc., TRW Automotive Holdings Inc., LORD Corporation, Porsche AG, Mercedes-Benz AG, Multimatic Inc., Sanluis Corporacion S. A. B. de C. V., Hyundai Mobis Co. Ltd., Sogefi SpA, Skyjacker Suspensions, HSD Co. Ltd., Eibach GmbH, KW automotive GmbH, GReddy Performance Products Inc., Fabtech Motorsports, Koni BV, Dorman Products Inc., Öhlins Racing AB, TEIN Inc., Yellow Speed Racing Inc., Gabriel India Limited.
What Are The Emerging Trends In The Automotive Suspension Systems Market?
Significant emerging trends include the development of technologically advanced products, such as mechanical suspensions, which improve ride comfort and enhance vehicle stability. For instance, in July 2023, US-based suspension manufacturer, Hendrickson, launched the TA 14 heavy-duty air suspension and MS 16 heavy-duty mechanical suspension.
What Are The Dominant Regions In The Automotive Suspension Systems Market?
In 2024, Asia-Pacific was the largest region in the automotive suspension systems market. Other regions covered in the report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does the Automotive Suspension Systems Market Report 2025 Offer?
The automotive suspension systems are responsible for smoothening the vehicles ride and keeping them in control. The suspension system maximizes the friction between the tires and road for the softer movement of vehicles. The suspension system consists of tires, tire air, springs, shock absorbers, and linkages that connect a vehicle to its wheels, supporting road handling and ride quality of the vehicle. The Automotive Suspension Systems Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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