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Automotive springs and Dampers: Introduction

  • Springs in an automotive are used to support the weight of the vehicle and also store potential energy. Springs and damper combine to form a strut. As the car passes over a bump or experience a sudden shock, the wheel transmits the shock to the spring through the links and the spring absorbs the shock as it compresses. This avoids the transfer of the sudden shock to the driver or the passenger.
  • Damper is a suspension component that is used to prevent the vehicle from bouncing in case it encounters a bumper. Consequently, springs and dampers are essential in the suspension system to offer driving comfort. Passenger vehicles with advanced features and functions are increasingly being manufactured, which improves safety.

Key Drivers of Global Automotive Springs and Dampers Market

  • Demand for increasing integration of safety solutions in passenger and commercial vehicles has been rising in the last few decades. Demand for automotive suspension system is directly related to the production of new vehicles, as the suspension system is a vital part of the vehicle.
  • Rising penetration of premium and luxury vehicles, integrated with more advanced features including the suspension system in Europe and North America, is likely to boost the automotive springs and dampers market.
  • Increasing technological advancements, urbanization, and buying behavior is boosting the automotive industry. Significant investments are being made in the development of existing automotive suspension systems in order to enhance ride quality and road holding capacity of the vehicle.
  • Technology in the automotive industry is rapidly advancing. Technological advancements in vehicle likely to boost adoption of safety features by OEMs. In the vehicles. Safety of the passenger is improved through the use of innovative technology such as ADAS (Advanced Driver Assistant System. Active safety systems help control the vehicle under control, prevents vehicle accidents, and protects passengers from causality. Active safety devices are fully automated so that they can compensate for human error. Such devices help prevent and minimize the effects of a crash.

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Need for technical expertise and replacement of conventional suspension system with advanced system to hamper market

  • Springs and dampers are designed to function under stress and hence, these components need to possess high tensile strength. Consequently, requirement of high quality material and fabrication with technical expertise is likely to boost the overall cost of the product. Labor and operating cost in the production of springs and dampers rise due to increasing adoption of automation on the production floor.
  • Regular replacement of springs and dampers due to damage in case of accident or collision prompts manufacturers to meet the demand from OEMs and Tier1 suppliers
  • Introduction of new suspension system including magnetic suspension system, which eliminates the use of spring in the suspension unit, is likely to hamper the automotive springs and dampers market. These factors are projected to boost the automotive springs and dampers market at a moderate pace during the forecast period.

Asia Pacific to hold significant market share of global automotive springs and dampers market

  • Asia Pacific held a significant share of the global automotive springs and dampers market owing to higher production of vehicles in the region. China accounts for more than 25% of global vehicle production. Availability of raw material and inexpensive labor in Asia Pacific is boosting the production of automotive springs and dampers.
  • Rapid development of infrastructure and establishment of new production plants by major OEMs and Tier 1 manufacturers in the region is likely to boost the market, owing to increased production of new vehicle models in the region

Key Players Operating in Global Market:

The global automotive springs and dampers market is fragmented market, as large number of players operate in the market. Top manufacturers account for approximately 30% to 35% share of the global market. A few of the key players operating and potential in the global automotive springs and dampers market are:

  • BWI Group
  • Continental AG
  • F&P America
  • FOX Factory Inc.
  • Gabriel India Limited
  • Hendrickson USA L.L.C
  • Kumpulan Belton Berhad
  • KYB Corporation
  • Magneti Marelli S.p.A
  • Multimatic Inc.
  • Sogefi SpA
  • Tenneco Inc.
  • Tinsley Bridge Group
  • Tower International
  • Unity Automotive
  • ZF TRW

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Global Automotive Springs and Dampers Market: Research Scope

Global Automotive Springs and Dampers Market, by Damper Type

  • Mono-tube Damper
  • Twin-Tube Damper
  • Internal By-pass Damper
  • Magneto-rheological Damper
  • Spool Valve Damper
  • Electronically Controlled Damper

Global Automotive Springs and Dampers Market, by Spring Type

  • Coil Spring
  • Torsion Bar
  • Leaf Spring
    • Parabolic Leaf Spring
    • Elliptical Leaf Spring
      • Semi Elliptical
      • Transverse Elliptical

Global Automotive Springs and Dampers Market, by Vehicle Type

  • Passenger Vehicle
    • Hatchback
    • Sedan
    • Utility Vehicles
  • Commercial Vehicle
    • Light Commercial Vehicle
    • Heavy Commercial Vehicle
    • Buses & Coaches

Global Automotive Springs and Dampers Market, by Sales Channel

  • OEM
  • Aftermarket

Global Automotive Springs and Dampers Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Nordic Region
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Springs And Dampers Market

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