Automotive Suspension Systems Market Report 2025

This Automotive Suspension Systems market report covers market characteristics, size & growth, segmentation, regional & country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The automotive suspension systems market size has grown steadily in recent years. It will grow from $65.04 billion in 2024 to $67.78 billion in 2025 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to increased demand for comfort and safety, government regulations, economic conditions, environmental regulations promoting fuel efficiency.

The automotive suspension systems market size is expected to see strong growth in the next few years. It will grow to $82.4 billion in 2029 at a compound annual growth rate (CAGR) of 5%. The growth in the forecast period can be attributed to increased demand for electric and autonomous vehicles, growing focus on sustainability and reducing emissions, changes in consumer preferences towards more versatile and adaptable vehicles, government regulations and safety standards related to autonomous vehicles. Major trends in the forecast period include electrification of suspension systems, development of adaptive and semi-active suspension systems, integration of smart sensors for predictive maintenance, use of lightweight materials for improved efficiency, customization of suspension systems for different driving modes.

The rising demand for motor vehicles is anticipated to propel the growth of the automotive suspension systems market during the forecast period. Automotive suspension systems are designed to optimize friction between tires and the road, ensuring steering stability, effective handling, and protection against damage. For example, in August 2024, the European Automobile Manufacturers' Association, a Belgium-based organization, reported that seven months into 2024, new car registrations increased by 3.9%, surpassing 6.5 million units. The largest markets within the bloc showed positive but modest growth, with Spain (+5.6%), Italy (+5.2%), Germany (+4.3%), and France (+2.2%) all experiencing increases. Thus, the growing global demand for vehicles is expected to drive the automotive suspension systems market.

The increasing market demand for luxury and high-performance vehicles serves as a significant catalyst driving the need for advanced suspension systems. These vehicles, characterized by their amalgamation of cutting-edge engineering, premium materials, advanced technology, and superior performance capabilities, aim to deliver elevated driving experiences. They often encompass premium features, superior comfort, and top-tier amenities, necessitating suspension systems that offer a smooth ride while ensuring exceptional handling and stability. Notably, the luxury vehicle market in the US witnessed a rise to 18% of total new vehicle sales in the second quarter of 2023, up from 14% in 2020. Similarly, in India, industry estimates revealed a 38% surge in luxury vehicle sales, reaching approximately 20,000 units between January and June 2023 compared to 14,500 units during the same period in 2022. Consequently, the heightened sales of luxury and high-performance vehicles are anticipated to drive the growth trajectory of the advanced suspension systems market in the foreseeable future.

Key companies in the automotive suspension systems market are concentrating on creating technologically advanced products, such as mechanical suspensions, to enhance ride comfort and improve vehicle stability. Mechanical suspensions are systems within vehicles that utilize mechanical components like springs and shock absorbers to bear the vehicle's weight, absorb shocks from the road, and enhance both comfort and stability. For example, in July 2023, Hendrickson, a US-based suspension manufacturer, introduced the TA 14 heavy-duty air suspension and the MS 16 heavy-duty mechanical suspension. The TA 14 heavy-duty air suspension is specifically designed for Indian conditions, offering Top and Low Mount variants to provide customers with various options tailored to their application needs. On the other hand, the MS 16 heavy-duty mechanical suspension, which has a 16T capacity rating, is suitable for both on-road and off-road applications, delivering improved load-carrying capabilities and performance. It is available in tandem and tridem configurations and features a robust leaf spring assembly that uses locally manufactured, high-quality components, including thicker side plates for equalisers and durable polyurethane bushes in the torque arm, ensuring lower maintenance costs, minimized downtime, and enhanced operational efficiency.

Prominent entities within the automotive suspension systems market are directing their focus towards the development of innovative products, particularly active suspension systems, in response to the escalating demand for advanced suspension technologies. These new active suspension systems leverage cameras and sensors to dynamically adjust the vehicle's suspension in real-time, promising a smoother ride and superior handling. An illustrative instance occurred in December 2022 when Mercedes-Benz, a renowned German luxury and commercial vehicle automotive brand, introduced the E-ACTIVE BODY CONTROL - an electrohydraulic suspension system featuring variable damping aimed at enhancing driving comfort. This sophisticated system dynamically adjusts suspension settings based on road conditions, vehicle load, and the selected driving program. Notably, the system automatically lowers the vehicle at higher speeds to bolster driving safety and decrease energy consumption, showcasing Mercedes-Benz's commitment to cutting-edge suspension technologies.

In January 2023, RENK Group, a Germany-based provider of drive solutions, acquired General Kinetics for an undisclosed sum. This acquisition enables the newly formed entity to enhance its mobility solutions and capitalize on RENK's extensive presence in the US, Europe, and worldwide, thereby offering a comprehensive range of suspension and vibration mitigation products. General Kinetics is a USA-based manufacturer specializing in automotive suspension systems.

Major companies operating in the automotive suspension systems market include Continental AG, ZF Friedrichshafen AG, Tenneco Inc., Magneti Marelli SpA, ThyssenKrupp Automotive Systems, WABCO Vehicle Control Systems, Mando Corporation, BeijingWest Industries International Limited, KYB Corporation, Hitachi Astemo Americas Inc., TRW Automotive Holdings Inc., LORD Corporation, Porsche AG, Mercedes-Benz AG, Multimatic Inc., Sanluis Corporacion S. A. B. de C. V., Hyundai Mobis Co. Ltd., Sogefi SpA, Skyjacker Suspensions, HSD Co. Ltd., Eibach GmbH, KW automotive GmbH, GReddy Performance Products Inc., Fabtech Motorsports, Koni BV, Dorman Products Inc., Öhlins Racing AB, TEIN Inc., Yellow Speed Racing Inc., Gabriel India Limited.

Automotive suspension systems play a crucial role in enhancing the ride quality and maintaining control of vehicles. These systems work to optimize the friction between tires and the road, ensuring a smoother vehicle movement. A typical suspension system comprises tires, tire air, springs, shock absorbers, and linkages that connect the vehicle to its wheels, contributing to both road handling and ride quality.

The primary types of automotive suspension systems include passive suspension systems, semi-active suspension systems, and active suspension systems. Passive suspension systems react to changes in the road using basic springs and shock absorbers to prevent undesired excess motion in the vehicle. The key components of automotive suspension systems encompass coil springs, leaf springs, air springs, shock absorbers, and various other elements, catering to applications in both passenger vehicles and commercial vehicles.

The automotive suspension systems market research report is one of a series of new reports that provides automotive suspension systems market statistics, including automotive suspension systems industry global market size, regional shares, competitors with automotive suspension systems market share, detailed automotive suspension systems market segments, market trends and opportunities, and any further data you may need to thrive in the automotive suspension systems industry. This automotive suspension systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Asia-Pacific was the largest region in the automotive suspension systems market in 2024. The regions covered in the automotive suspension systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the automotive suspension systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The automotive suspension systems market consists of sales of multi-link suspension, rigid axle suspension, independent suspension, and rigid suspension. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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