Suspension system market in Asia-Oceania is projected to grow at a CAGR of 5.72% by volume from 2015 to 2020 mainly due to the presence of top suspension system manufacturers who has heavily invested in setting up the production facility in these countries and to meet increasing global demand for suspension systems.
Pune, India -- (SBWIRE) -- 08/28/2015 -- The report "Suspension System Market - Forecast to 2020", defines and segments the automotive suspension systems market with analysis and projection of the market size in terms of volume and value.
Browse 66 market data tables and 67 figures spread through 200 pages and in-depth TOC on "Suspension System Market - Forecast to 2020"
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Thus the market for suspension system is estimated to grow at a CAGR of 5.32% by value from 2015 to 2020, growing from USD 52,667 Million in 2015 to USD 68,253 by 2020.
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Asia-Oceania: Biggest market for automotive suspension system
Asia-Oceania comprises countries such as China, Japan, India, and South Korea and they are witnessing huge population growth and this region is the largest producer of suspension systems, globally. Key automotive manufacturers have shifted their focus to this region due to various benefits such as, easy availability of economic labor, lenient regulations for environment & safety, and increased FDI for automotive industry in countries like India, and growing demand for vehicles. With the increased per capita income and growing preference towards premium cars, the key premium/luxury passenger car manufacturers, such as BMW (Germany), Volkswagen Group (Germany), and Mercedes Benz (Germany) have already set up their manufacturing units in the South-East Asian countries. The used-car market in China is also increasing the demand for lower price segment cars. The increasing concern about quality and safety is making the manufacturers to develop advanced suspension systems which would cater customer's demand.
Semi-Active/Active Suspension System: Adoption Expected to Increase in Developed Regions
Due to increase in stringent emissions and fuel efficiency regulations in the developed regions, the entry of comparatively lightweight semi-active/active suspension systems is estimated to be higher in North America and Europe. The market is further estimated to increase with the rising production levels after the economic downturn. As per the customer's preferences, regional adoption is varied in these regions. Europe is projected to witness moderate growth for semi-active/active system rather than passive suspension. High rate of technological adoption in these regions is also a driving factor for the growth of these systems.
The report covers the global automotive suspension system market in terms of volume ('000 units) and value (USD Million) across the regions of Asia-Oceania, Europe, North America, and Rest of the World (RoW). It explains the qualitative and quantitative aspects of automotive suspension system market on the basis of vehicle type, region, system type, damping type, and architecture from 2015 to 2020.
It also provides an overview of technical factors and other important aspects of the automotive suspension system market. It includes a value chain analysis, Porter's five forces analysis, the competitive landscape, product life cycle- by suspension system, statistics on who supplies to whom, and company profiles of 10 key players of the automotive suspension system market.
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