Automotive Suspension System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Component Type (Coil Spring, Leaf Spring, Air Spring, Shock Absorber, and Other Components), Vehicle Type (Passenger Car and Commercial Vehicle), Type (Passive Suspension, Semi-active Suspension, and Active Suspension), and Geography.

Market Snapshot

global automotive suspension industry
Study Period: 2018-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >6 %
automotive suspension market major players

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Market Overview

The automotive suspension market is anticipated to register a CAGR of over 6% during the forecast period.

  • The demand for the automotive suspension system is directly related to the production of new vehicles as the suspension system connects the wheel to the vehicle frame and is one of the essential parts of vehicles.
  • Increasing urbanization, technological advancements, and buying behaviors are contributing to the automotive industry's growth. In order to enhance ride quality and better road holding capacity for the vehicle, significant investments are being done to evolve the existing automotive suspension systems.
  • Although the automotive suspension system is experiencing steady growth, lack of standardization and high prices of independent suspension systems may act as a barrier for the growth of the market.

Scope of the Report

Automotive suspension systems have a systematic arrangement of springs, shock absorbers, control arms, and ball joints that link the chassis to the wheels, and the link promotes the existence of relative motion between the two. Additionally, the systems help in providing isolation to the vehicle from high-frequency excitations in tires.

Component Type
Coil Spring
Leaf Spring
Air Spring
Shock Absorber
Other Components
Passive Suspension
Semi-active Suspension
Active Suspension
Vehicle Type
Passenger Car
Commercial Vehicle
North America
Rest of the World

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Key Market Trends

Increasing Sales of Commercial Vehicles is Driving the Growth of the Automotive Suspension Market

The expansion of the industrial sector in the emerging markets and the development of commercial operations in logistics led to significant demand for commercial vehicles, in 2018. Moreover, this demand is anticipated to continue to increase, owing to improving economies across both developing and developed regions. This is expected to drive the growth of the market in the coming years. The sales of commercial vehicles (CV) experienced an average growth rate of 6% over the past three years (2016-2018). In 2018, commercial vehicle sales increased by 7.8%, compared to that of 2017. This is primarily due to the significant increase of 30% in heavy-duty commercial vehicle (such as trucks and buses) sales in 2017-2018. The increasing number of construction and e-commerce activities resulted in an increase in demand for material transportation, which in turn, resulted in increased sales of commercial vehicles, worldwide. This is likely to drive the growth of the commercial vehicles market in the coming years which will simultaneously generate demand for automotive suspension system during the forecast period.

automotive suspension market size

Asia-Pacific is Anticipated to Register the Highest Growth During the Forecast Period

The market for automotive suspension system in North America and Europe registered steady growth between 2016-2018. However, Asia-Pacific automotive suspension system market is anticipated to register the highest growth during the forecast period. Asia-Pacific is highly dominated by both, local and global manufacturers. KYB Corporation is among the top companies in Asia-Pacific, majorly supplying shock absorbers. In addition, the company has a global presence and is well-recognized for its shock absorber product portfolio. Asia-Pacific is capturing an increasing share of global vehicle sales and is expected to see continued strong growth in both the medium and long term. This is primarily due to the fast-growing GDP, rising middle class, and the consumer demand for new vehicles. China, India, Malaysia and other developing markets are driving the growth of the automotive industry in this region.

automotive suspension market share

Competitive Landscape

The market for automotive suspension systems is fragmented with several players. Some of the prominent players in the market are Continental AG, ThyssenKrupp AG, Magneti Marelli SpA, and Hyundai Mobis, among others. The market of automotive suspension is highly competitive, as the players look to expand their market share. Product innovation and geographic expansion to new markets will play a major role in the success of any player in the automotive suspension market. In 2018, Hyundai Mobis, a South-Korea-based car parts company, announced that the company developed electrical Active Roll Stabilization (eARS). eARS is an automotive component used to stabilize the horizontal inclination of the body of a vehicle in motion by mitigating the leaning of the body caused by centrifugal force when the car turns quickly and the impact from irregular surfaces. eARS are based on 12V and 48V, making it suitable for green vehicles.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Buyers/Consumers

      2. 4.3.2 Bargaining Power of Suppliers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Component Type

      1. 5.1.1 Coil Spring

      2. 5.1.2 Leaf Spring

      3. 5.1.3 Air Spring

      4. 5.1.4 Shock Absorber

      5. 5.1.5 Other Components

    2. 5.2 Type

      1. 5.2.1 Passive Suspension

      2. 5.2.2 Semi-active Suspension

      3. 5.2.3 Active Suspension

    3. 5.3 Vehicle Type

      1. 5.3.1 Passenger Car

      2. 5.3.2 Commercial Vehicle

    4. 5.4 Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia-Pacific

      4. 5.4.4 Rest of the World


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Continental AG

      2. 6.2.2 Mando Corp.

      3. 6.2.3 ZF Friedrichshafen AG

      4. 6.2.4 thyssenkrupp AG

      5. 6.2.5 Tenneco Inc.

      6. 6.2.6 Magneti Marelli SpA

      7. 6.2.7 HYUNDAI MOBIS Co. Ltd

      8. 6.2.8 Hitachi Automotive Systems Ltd

      9. 6.2.9 SGL Carbon

      10. 6.2.10 Sogefi SpA

      11. 6.2.11 KYB Corp

      12. 6.2.12 LORD Corporation


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Frequently Asked Questions

The Automotive Suspension System Market market is studied from 2018 - 2026.

The Automotive Suspension System Market is growing at a CAGR of >6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Continental AG, thyssenkrupp AG, Magneti Marelli SpA, Hyundai Mobis, Hitachi Automotive Systems, Ltd. are the major companies operating in Automotive Suspension System Market.

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