Automotive Springs and Struts: Introduction
- Vehicle springs, also known as struts, are an integral part of a vehicle owing to a surge in the demand for comfort in vehicles. Automotive springs are connected to the vehicle chassis and help the vehicle tires maintain contact with the surface or road. Automotive springs maintain vehicle clearance with the help of the suspension plate.
- A strut is a part of the suspension system and is specially designed to resist compression. It holds the body of a vehicle off the ground and without the struts the vehicle will fall on the ground. Struts are used in various suspension assemblies including coil spring suspension. They also provide steering stability with good handling, ensuring the comfort of the occupants.
Key drivers of global automotive springs and struts market
- Need for comfort in each and every model/ variant of a vehicle is a key factor driving the market for automotive springs and struts. The suspension springs of a vehicle are made from steel and are usually painted or coated in order to prevent corrosion and damage due to moisture, rainwater, or constant exposure to harsh environment. Vehicle springs are subjected to constant pressure owing to the weight of the vehicle even while it’s stationary or being driven.
- A properly functioning suspension system ensures that a vehicle would remain stable in various driving conditions and positions. Vehicle handling is affected either positively or negatively by suspension system in different ways, as it can minimize the vehicle’s roll and pitch and control the wheels’ angles. The suspension system can hamper the overall performance of the vehicle if it is not maintained properly. Therefore, instructions provided by automakers about vehicle loading and capacities should be followed in order to ensure long life of the vehicle suspension system.
Long life of automotive springs and struts to hamper global automotive springs and struts market
- Automotive springs and struts are robust and made of steel. The average lifespan of a suspension system, in some cases, may be as long as life of a vehicle. Developments of road and infrastructure have led to an improvement in the quality of roads and a reduction in the stresses on the vehicle suspension system, which may be exerted due to uneven roads and terrain. Therefore, increased life of automotive springs and struts is likely to hamper the aftermarket for automotive springs and struts.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
Passenger vehicle to account for significant share of global automotive springs and struts market
- Increased preference for comfort & luxury and a rise in disposable income are attributed to a rise in preferences for self-owned vehicles. Penetration of sport utility vehicles in the passenger car segment is increasing owing to a rise in the demand for vehicles with larger cabins and storage spaces. Moreover, a reduction in interest rates have provided a significant boost to owning a vehicle. Therefore, the global automotive spring and strut market is expected to witness significant expansion due to an increase in number of passenger vehicles.
Asia Pacific and North America, together, to dominate global automotive springs and struts market
- Improvement in road infrastructure, rise in disposable income, and expansion of urban areas in the developing countries including India, China, Malaysia, and Thailand in Asia Pacific are expected to boost the trend of owning a personal vehicle. This in turn is driving the demand for passenger vehicles and consequently, propelling the global automotive springs and struts market in the region.
- Demand of passenger vehicles is increasing in North America due to a rise in penetration of SUVs and hatchbacks in the region. This, in turn, drives the global automotive springs and struts market.
Key players operating in global automotive springs and struts market:
The global automotive springs and struts market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global automotive springs and struts market are:
- ZF Friedrichshafen AG
- Mando Corp.
- NHK SPRING Co., Ltd.
- Continental AG
- BENTELER International
- Sogefi SpA
- thyssenkrupp AG
- Ride Control, LLC
- KYB Americas Corporation
- Stabilus GmbH.
- Magneti Marelli S.p.A
- DRiV Incorporated (Tenneco Inc.)
- Mubea Fahrwerksfedern GmbH
- Unity Automotive
- BWI Group
Looking for Regional Analysis or Competitive Landscape in Automotive Springs and Struts Market, ask for a customized report
Global Automotive Springs and Struts Market: Research Scope
Global Automotive Springs and Struts Market, by Vehicle
Global Automotive Springs and Struts Market, by Technology
- Hydraulic Suspension
- Air Suspension
- Electrical Suspension
Global Automotive Springs and Struts Market, by System Type
- Dependent Suspension System
- Independent Suspension System
Global Automotive Springs and Struts Market, by Capacity
Global Automotive Springs and Struts Market, by Sales Channel
Global Automotive Springs and Struts Market, by Region
- North America
- Russia & CIS
- 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
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.