Automotive Suspension Market 2023 – 2030 By System, Actuation, Component, Vehicle (ICE, Electric, Off-Highway, ATV), Architecture (MacPherson Strut, Double Wishbone, Multilink, Twist Beam, Leaf Spring, Air Suspension) - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

The global automotive suspension market is projected to experience growth, reaching $51.6 billion in 2030 with a CAGR of 2.6% during the forecast period. The demand for automotive suspension is driven by the increasing need for vehicle comfort and safety, as well as the rising adoption of air suspension systems in heavy commercial vehicles (HCVs).

Considering the gradual resumption of production volumes worldwide and the recovery of global vehicle sales from the impact of the pandemic, the automotive suspension market is expected to have a moderate impact and witness steady growth as lockdowns are lifted and challenges related to the supply chain, labor availability, and government guidelines are reduced.

Market Dynamics

Driver: Growing sales of SUVs and luxury vehicles to drive demand for advanced suspension systems

The adoption of independent suspensions has increased due to the advantages they offer in terms of stability. Independent suspensions are preferred for heavy vehicles because of their lower weight. Passenger cars typically use independent suspensions at the front and dependent suspensions at the rear. The MacPherson strut is a popular front independent suspension in compact passenger cars due to its low manufacturing cost and better stability. The double wishbone suspension, although more expensive, is employed in premium models and high-performance racing cars due to its superior comfort, dynamics, and road holding capabilities. Technological advancements have made the double wishbone suspension available in mid-high segment vehicles as well.

Restraint: Lack of standardization of independent suspension systems

Standardizing suspension systems based on vehicle type would help reduce manufacturing costs and allow Tier 1 and component manufacturers to produce suspension systems in large volumes. Lack of standardization creates challenges for manufacturers in meeting diverse architectural demands for different vehicle types, making the market volatile and affecting component suppliers' reliance on demand from Tier 1 suppliers.

Opportunities: Growth in ATV sales due to increased off-road recreational activities globally to drive ATV suspension market

Rising GDP and growing disposable incomes have led to increased spending on leisure activities, including off-road recreational activities involving all-terrain vehicles (ATVs). The tourism industry's revenue growth and the demand for ATVs are expected to continue as tourism resumes post-pandemic. Off-road competitions and recreational activities involving ATVs have also contributed to the high demand for these vehicles globally.

Challenges: Lack of alternative materials poses challenge for overall suspension weight reduction

As the automotive industry moves towards autonomous, connected, electric, and shared (ACES) vehicles, reducing overall vehicle weight becomes crucial for fuel consumption and CO2 emissions. Electric vehicles (EVs) face additional challenges due to the weight of battery packs, necessitating weight reduction measures. Alternative materials, such as composites like carbon-fiber reinforced plastics (CFRP) and glass-fiber reinforced plastics (GFRP), hold potential for reducing the weight of vehicles. However, limited options for material selection, high costs, and production challenges hinder the adoption of alternative materials in suspension components.

Active suspension - the fastest growing suspension system type

The demand for active suspension systems is driven by the need to improve ride quality and occupant comfort. These systems are predominantly used in high-end luxury and sports cars, as well as some medium-range cars and a few commercial vehicles. Active suspension systems, such as Magic Body Control by Mercedes-Benz and MagneRide by Delphi, offer advanced comfort but come at a higher cost. The increasing demand for SUVs globally, particularly in the Asia-Pacific region, is expected to drive the growth of active suspension systems in the market.

MacPherson strut holds the largest market share for front wheel suspension.

The MacPherson strut architecture has gained widespread adoption by OEMs globally due to its cost and weight reduction advantages. It eliminates the need for a separate upper control arm, reducing component costs and overall architecture weight. In terms of value, the Asia Pacific region is projected to be the largest and fastest-growing market for MacPherson strut during the forecast period. The high penetration of MacPherson strut in front suspensions, accounting for approximately 70-75%, drives market growth in this region. The architecture's low cost and space requirements make it a preferred choice for compact passenger cars, which have high demand in the Asia Pacific market. Front axle MacPherson struts can be found in models like Toyota Camry, Honda Accord, BMW X5, and Subaru XV, among others.

Asia Pacific region to dominate the global automotive suspension market

In recent years, the Asia Pacific has become a significant hub for automotive production due to changing consumer preferences, rising middle-class income, and cost advantages for OEMs. In terms of value, the Asia Pacific is expected to hold the largest market share in the automotive suspension market in 2023. This is attributed to the presence of automotive OEMs with large production capacity, higher vehicle sales, and a large customer base in the region. While western countries have seen increased adoption of multilink and air suspension systems in passenger cars for better comfort, these systems are still in their early stages of introduction in the Asia Pacific due to their higher cost.

China is anticipated to remain the largest market within the region, driven by its large population and increased demand for passenger vehicles following the pandemic. The country has resumed production close to pre-pandemic levels. India, on the other hand, is expected to be the fastest-growing market in terms of value due to the increased demand for passenger vehicles as the country's economy recovers from the effects of the pandemic.

Key Market Players:

The global automotive suspension market is primarily dominated by global players and includes several regional players as well. Key players in the global market include ZF Friedrichshafen AG (Germany), Tenneco Inc. (US), Continental AG (Germany), ThyssenKrupp AG (Germany), and KYB Corporation (Japan).

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• Front Suspension by architecture (Passenger cars, LCVs, HCVs)
• Rear Suspension by architecture (Passenger cars, LCVs, HCVs)
• Passive, semi-active, and active suspension by architecture (Country level)
• Electric & Hybrid vehicles (Regional level)
• Off-highway by type and region (Regional level)

Automotive Suspension Market Segmentation

Automotive Suspension Market, ICE Vehicle Type (Country Level)

• Passenger cars

Front Suspension, By Architecture

• MacPherson Strut
• Double Wishbone
• Multilink
• Twist Beam/Torsion Beam
• Air Suspension

Rear Suspension, By Architecture

• MacPherson Strut
• Double Wishbone
• Multilink
• Twist Beam/Torsion Beam
• Air suspension
• LCVs

Front Suspension, By Architecture

• MacPherson Strut
• Double Wishbone
• Multilink
• Twist Beam/Torsion Beam
• Leaf Spring
• Air Suspension

Rear Suspension, By Architecture

• MacPherson Strut
• Double Wishbone
• Multilink
• Twist Beam/Torsion Beam
• Leaf Spring
• Air Suspension
• HCVs

Passive, Semi-Active, And Active Suspension, By Architecture (Country Level)

• MacPherson Strut
• Double Wishbone
• Multilink
• Twist Beam/Torsion Beam
• Leaf Spring Suspension
• Air Suspension

Automotive Suspension Market, Electric & Hybrid Vehicle (Regional Level)

• BEV
  • Front Suspension, By Architecture
  • Rear Suspension, By Architecture
• PHEV
  • Front Suspension, By Architecture
  • Rear Suspension, By Architecture
• FCEV
  • Front Suspension, By Architecture
  • Rear Suspension, By Architecture

Off-Highway Suspension Market, By Type and Region (Regional Level)

• Construction Equipment
  • Mechanical
  • Pneumatic
  • Hydro-pneumatic
• Agricultural Tractors
  • Mechanical
  • Pneumatic
  • Hydro-pneumatic

Recent Developments

• Continental AG now offers the same air suspension vibration dampers and compressors to the automotive aftermarket that it supplies to vehicle manufacturers. This enables workshops to use new parts when repairing air suspension systems, which are installed as standard.
• ThyssenKrupp has plans to expand its presence in China by establishing a new damper production line at an existing automotive site in Changzhou. The facility will manufacture electronically adjustable damping systems, utilizing semi-active dampers equipped with sensors to measure vibrations and assess the driving situation and vehicle condition.
• ZF Commercial Vehicle Control Systems division in India has developed air suspension with Electronically Controlled Air Suspension (ECAS) technology. This innovation addresses issues such as increased fuel consumption, reduced rider comfort, passenger safety, and vehicular instability.
• Continental AG has developed sensors for vehicles equipped with air suspension. These sensors utilize ultrasound to measure the height and pressure of air springs, providing information about the load condition of the axle. Additionally, a height sensor has been developed for vehicles without air suspension, utilizing the suspension travel of the shock absorber to determine the load condition of the respective axle.
• Tenneco Inc. completed the acquisition of Öhlins Racing A.B, a Swedish technology company specializing in premium suspension systems and components for the automotive and motorsport industries, in January 2019.