Scope of the Study
Suspension device is a shock absorber system which is provided with damping force and change over mechanism. These devices helps in maintaining the vehicle control and suspend vehicle frame, engine and other parts of the vehicle. In addition it provides comfortable ride by reducing vibrations and irregularities in the road. Suspension device is classified into passive, semi active and active, which include springs and dampers, hydraulic and electric force actuators respectively.
The market study is being classified and major geographies with country level break-up.
Magneti Marelli S.p.A (Italy), Mando Corp. (South Korea), Tenneco Inc. (United States), TRW Automotive Holdings Inc. (United States), BWI Group (China), Continental (Germany), KYB (Japan), Multimatic (Canada), Rassini (Mexico) and Trelleborg Vibracoustic (Germany) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are ThyssenKrupp Automotive Systems (Germany) and ZF Friedrichshafen (Germany).
Research Analyst at AMA predicts that Europe Vendors will contribute to the maximum growth of Global Automotive Suspension Device market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Automotive Suspension Device market by Type, Application and Region.
On the basis of geography, the market of Automotive Suspension Device has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Upsurge in two wheeler industry is propelling the market growth. The boost in buying power is forcing the increase in production which in turn contributing towards the automotive suspension device market.
- Technological Advancements in Automotive Parts
- High Maintenance Costs of Suspension System May Hinder the Growth
- Rising Disposable Income is leading to Purchase of Vehicle
- Rising Demand of Luxury and Comfort is Boosting the Market
- Stiff Competition among the Players
Market Leaders and their expansionary development strategies
In November 2018, Tenneco has acquired suspension company Ohlins. This acquisition accelerates the development of advanced original equipment intelligent suspension solution.
In February 2018, Hitachi automotive systems has launched Tokico suspension product and expands its aftermarket business.
Key Target AudienceManufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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