The Asia Pacific automotive suspension systems market size
is expected to reach USD 44.51 billion by 2025, according to a study conducted
by Grand View Research, Inc., registering a CAGR of 4.44% during the forecast
period. Automotive suspension systems are witnessing tremendous upsurge in the
demand in the region owing to growing consciousness regarding vehicle safety
and increasing sales of luxury vehicles. These systems play a vital role in
keeping vehicle tires in contact with the road.
Failure or poor functioning of suspension systems
can pose a threat to passengers and drivers, even well-trained ones. Such
failures occur due to negligence of driver, equipment failure, inadequate road
maintenance, or poor road construction. Suspension systems are used in
passenger vehicles, light commercial vehicles, and heavy-duty commercial
vehicles. They promote even and balanced tire and brake wear, maintain wheel
alignment, and absorb sudden road shocks. These factors are estimated to drive
the growth of the automotive suspension systems market in the region.
Continuous strengthening of global vehicle standards
is the major constraint hampering the growth of the market. Frequent updates in
vehicle safety standards and increasing need for passenger safety may affect
the production of vehicles. Prominent automakers are implementing lightweight
suspension solutions to meet requirements of buyers and abide by environmental
standards. Moreover, implementation of lightweight solutions is easy for
established market players whereas, new entrants may find it difficult to
implement as lightweight suspension solutions are high in cost. Prominent
vendors in the market include Continental AG; Tenneco Inc.; F-TECH INC.; WABCO
Holdings.; and Multimatic Inc.
Full
Research Report On APAC Automotive Suspension Systems Market By Grand View
Research:
www.grandviewresearch.com/industry-analysis/asia-pacific-automotive-suspension-systems-market
www.grandviewresearch.com/industry-analysis/asia-pacific-automotive-suspension-systems-market
Further
key findings from the report suggest:
- Increasing demand for passenger vehicles and
luxury vehicles will drive the market in the region over the forecast
period
- The passenger vehicle segment is estimated to
reach about USD 39.2 billion by 2025
- In 2016, the independent suspension system
segment accounted for the leading share and is expected to expand at a
CAGR of close to 4.6% over the forecast period
- The electromagnetic damping type segment is
projected to post the highest CAGR over the forecast period, followed by
air suspension damping type
- On the basis of components, the ball joint
segment is estimated to progress at the highest CAGR over the forecast
period
- Prominent players in the market include
Continental AG; Tenneco Inc.; F-TECH INC.; WABCO Holdings.; and Multimatic
Inc.
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/automotive-and-transportation
www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the Asia Pacific automotive suspension
systems market report based on system type, component type, vehicle type,
damping type, and region:
APAC Automotive
Suspension System Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Dependent
(Rigid) Suspension System
- Independent
Suspension System
APAC Automotive
Suspension Systems Component Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Springs
- Control
Arms
- Shock
Absorbers/Dampeners
- Ball
Joints
- Others
APAC Automotive
Suspension Systems Vehicle Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Passenger
Vehicles
- Commercial
Vehicles
APAC Automotive
Suspension Systems Damping Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Electromagnetic
- Hydraulic
- Air
Suspension
- Others
APAC Automotive
Suspension Systems Region Outlook (Revenue, USD Billion, 2014 - 2025)
- Asia
Pacific
- India
- China
- Japan
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/asia-pacific-automotive-suspension-systems-market-analysis
www.grandviewresearch.com/press-release/asia-pacific-automotive-suspension-systems-market-analysis
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More
Information: www.grandviewresearch.com
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