Allied Market Research

2024

Automotive Composite Suspension Components Market

Automotive Composite Suspension Components Market Size, Share, Competitive Landscape and Trend Analysis Report by Component, by Vehicle and by Process : Global Opportunity Analysis and Industry Forecast, 2023-2032

MC : Composites

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Author's: | Eswara Prasad
Publish Date:

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Automotive composite suspension component is mainly an assembly between the vehicle frame and the road on which the vehicle is running. The suspension system comprises of components such as shock absorbers, tires, joints, and many others. Automotive composite suspension components provide several benefits over steel components such as high durability, lightweight, better vibration energy absorption, and better fatigue resistance. Different types of automotive composite suspension components such as coil spring, leaf spring, and stabilizer bar are used as a component. However, complexity in the installation of the components along with change in shape and sagging of the component with time, are some of the major restraints for the market growth

Covid-19 Impact Analysis 

  • The coronavirus's unfavorable global effects are already evident, and they will have a big impact on the automotive composite suspension components in 2020.
  • The World Health Organization has declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths all across the world. Exports & Imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
  • The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
  • The lockdown has resulted in hampering the imports and exports of various goods. Also, the uncertainty created in the market in the consumers’ buying pattern has resulted in hampering of the automotive composite suspension components market.


Top Impacting Factors

The market growth looks promising with opportunities in markets of passenger cars, light commercial vehicle, and medium and heavy commercial vehicles. The increasing demand for lightweight material to achieve high fuel efficiency and reduce the carbon emissions, is an important driver of the market. Organic growth of automobile production, development of new composite suspension, applications stringent government regulations regarding fuel efficiency and carbon emission reduction along with advancement in composite technology are some of the primary factors driving the growth.

Market trends

  • Urbanization in growing economies like China and India is a key factor in market growth. 
  • With growing per capita income and the purchasing power of the consumers, the demand for the automobile sector has experience a growth in the recent years. Since the population of the country is increasing at an enormous rate and every individual is capable of owning a vehicle the demand for same has surged and hence major focus is in automobile sector. Owing to these reasons, the automotive composite suspension component market is experiencing a growth.
  • Government regulations to reduce carbon emissions and focus on environmental issues. 
  • With increased rate of carbon emission from the automobiles and other greenhouse gases accumulation in the environment the government is focused on decreasing the levels and implementing strategies to bring down the same. For this purpose, various regulations are laid down so that the efficiency of the fuel will increase and hence this is where the market of automotive composite suspension component experiences an upsurge.
  • Competitive and structural advantage is enhancing the market expansion.
  • Automotive composite suspension components provide several benefits of the steel components such as high durability, lightweight, better vibrations energy absorption, and fatigue resistance. Because of these reasons it is having an upper hand on its competitors in the market and hence is experiencing a healthy market growth rate.

Key Benefits of the Report

  • This study presents the analytical depiction of the automotive composite suspension components industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the automotive composite suspension components market share.
  • The current market is quantitatively analysed to highlight automotive composite suspension components market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed automotive composite suspension components market analysis based on competitive intensity and how the competition will take shape in coming years.                               

Automotive Composite Suspension Components Market Report Highlights

Aspects Details
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By Component
  • Leaf Spring
  • Coil Spring
  • Stabilizer Bar
  • Suspension Arm
  • Others
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By Vehicle
  • Passenger car
  • Light commercial vehicle
  • Medium and heavy commercial vehicles
  • Others
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By Process
  • Resin Transfer Molding
  • Prepreg Lay Up
  • Compression Molding
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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Key Market Players

MW Industries, Inc., Henderickson, Sogefi Group, IFA Composite, Bender KG, IFC Composite GmbH, Jamna Auto Industries Ltd., Muhr und, BENTELER International

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Automotive Composite Suspension Components Market

Global Opportunity Analysis and Industry Forecast, 2023-2032