Automotive Cab Suspension Market: Introduction
Cab suspension systems isolate the cabin from the vibrations of the chassis and driveline while traveling on uneven terrain. These systems help improve driver comfort and reduce stress on both the driver and vehicle, especially fatigue of cabin-mounted equipment such as electronics.
Key Drivers of Automotive Cab Suspension Market
- Macroeconomic and demographic trends, such as rapid urbanization, rising incomes, and increased participation of women and youth in the labor force, have fueled the demand for mobility. For instance in developing economies, such as India, growing working population and expanding middle class are driving the demand for automobiles with comfort features. Therefore, these factors are fueling the demand for cab suspension systems from OEMs and in the aftermarket.
Challenges in Automotive Cab Suspension Market
- The COVID-19 pandemic has affected local as well as global automotive supply chains, manufacturing and R&D operations, thus hampering the automotive industry. Post first wave of COVID-19, global economies have started opening automotive manufacturing and supply chain operations. Thus, the COVID-19 impact on the industry seems to have reached a state of normalcy; however, a resurgence in COVID-19 cases in countries across Europe has forced governments to impose a second round of lockdown restrictions. Consequently, uncertainty in the automotive industry continues. However, easing of lockdown restrictions and stagnant demand during the times of lockdown have resulted in the recovery of automotive and ancillary sales in the last few months.
Opportunities in Automotive Cab Suspension Market
- Cab suspension systems improve vehicle ride comfort, handling, and safety. Market expectations from vehicle suspension systems have been increasing consistently for the last few years. Initially, superior suspension systems were available to the high end vehicle class models; however, integration of the systems in vehicle ranges below the high-end models increased due a surge in customer awareness. This showcases the growing need for improvement of comfort, which is offering significant opportunity for the automotive cab suspension market.
Europe to Dominate Automotive Cab Suspension Market
- In terms of geography, Asia Pacific held a significant share of the global cab suspension system market. China is a prominent market for the automotive industry with an annual sale of 25.76 million new vehicle units. India is a favorable market for cab suspension components with future sales and production of vehicles in the country driven by a rise in the population and income levels of the middle class. In 2019, India became the fourth-largest auto market in terms of sales, displacing Germany, with about 3.99 million units sold in the passenger and commercial vehicles categories. Moreover, the Government of India is focused on the development of domestic manufacturing and R&D in the country under the scheme of ‘Make in India’ initiative, thus boosting the cab suspension market in the country. Japan and South Korea are major automotive producing countries in the region with the presence of prominent and established automotive brands such as Hyundai, Honda, Nissan, and Kia that are export-centric and cater to the domestic demand for automobiles. Consequently, these factors propel the cab suspension market in the region.
Key Players Operating in Automotive Cab Suspension Market
The global automotive cab suspension market is moderately consolidated. A few of the key players operating in the global automotive cab suspension market are:
- Parker Hannifin Corp
- Continental AG
- ZF Friedrichshafen AG
- Power-Packer, Inc.
- Link Manufacturing, Ltd.
- Lord Corp
- Samo Maschinenbau GmbH
- Bison Parts Limited
Global Automotive Cab Suspension Mark: Research Scope
Global Automotive Cab Suspension Market, by Type
- Steel Spring Modules
- Air Spring Modules.
Global Automotive Cab Suspension Market, by Vehicle Type
- Passenger Vehicle
- Light Duty Vehicle
- Medium & Heavy Duty Trucks
- Buses & Coaches
- Agricultural machinery
- Construction machinery
Global Automotive Cab Suspension Market, by Sales Channel
Global Automotive Cab Suspension Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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