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Struts System Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

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Dec 2020 | 27 Views
 
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COVID-19

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A strut system is an important part in any type of vehicle. Strut system is an assembly comprising shock absorber, Around the shock absorber, there is a spring, which is used to support the weight of the vehicle. A strut system converts the vertical movement of the vehicle into heat energy, which dampens the vertical movement of the vehicle so that it does not bounce on the road. Different types of materials can be used to manufacture the strut system such as carbon steel, stainless steel, aluminum, and fiberglass. Generally, fiberglass is used for the strut because of its properties such as high tensile strength, corrosion resistance, and rigidity. Strut can be used in various applications such as aerospace and in construction.

Market scope and structure

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

Sales channel, material, application, end-user industry, and region

  Companies covered

Eaton Corporation Inc., Cooper Industries, Aetna Plastics Corp., Enduro Pipeline Services Inc., Unistrut Corporation, Atlas Supply Co., Hilti Corporation ERICO Products Inc., Carpenter & Paterson, Inc., Gregory Industries Inc., Guenther Supply, Inc.

 

Regions covered

North America

Europe

Asia Pacific

LAMEA

US, Canada and Mexico

Germany, France, UK, Italy, Spain, and the Rest of Europe

China, Japan, India, South Korea, and the Rest of Asia Pacific

Latin America, Middle East and Africa

 

COVID-19 scenario analysis:

  • The demand for struts system is expected to decrease in the year 2020 due to low demand from different industries such as manufacturing, construction and aerospace due to the lockdown imposed by government of many countries.
  • COVID-19 pandemic has halted the production of various products in the struts system industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of struts system market significantly from last few months, as is likely to continue during 2020.
  • COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020, and is likely to cause a negative impact on the market growth throughout the year. 
  • The major demand for equipment and machinery was previously noticed from giant manufacturing countries, including the U.S., Germany, Italy, the UK, and China, which is negatively affected by the spread of corona virus, thereby halting the demand for equipment and machinery.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
  • Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors:

As strut system is an essential part of any automobile system, without the strut assembly vehicle will not be able to ride smoothly as without the stable movement of the car, person sitting inside the car will not experience smooth journey. Strut needs to be replaced as it can wear out after a certain period of time. Struts assembly carries the weight of the vehicle and hence struts system need to be replaced for one to two times according to the use of the vehicle. Strut offers the applications in various industries such as automobile, construction and aerospace, demand for strut is expected to rise during the forecast period.
The longitudinal compression which is generated by the vehicle is generally resisted by the struts system assembly. Hence, struts system assembly constitutes an important part in any vehicle. 

Struts are used in construction industry to support the beam and braces. By using the struts, in between the floor joist, the strength of the floor can be increased. Strut system can be used with different types of beams such as simple, fixed and cantilever. Using the struts system with beam gives additional strength to the structure.

Struts system plays an important role in aerospace industry as well. Bracing struts are widely in aircrafts so as to increase the strength of the aircraft parts. These struts are generally loaded in compression.

Key driving factors for the growth of strut system market:

Due to its wide range of applications, demand for struts system from different industries is rising across the globe.

World is witnessing the rise in automation sector. There is rise in demand for different types of automobiles. As, struts system is an integral part of any automobile, the demand for the struts is also increasing. This is considered to be one of the driving factor for the growth of the struts system market. Materials used for manufacturing of strut system such as carbon steel, aluminum, and fiberglass are light in weight. Due to this reason overall weight of the vehicle also reduces.

Also, the increasing number of construction projects across the world is expected to boost the struts system market as it offers various applications in construction industry as well.

Growth of industrialization in Asia pacific region is very important factor. In Asia-Pacific countries like China and India many established companies have setup their manufacturing plants. Hence, rise in demand for strut system is expected in Asia-Pacific during the forecast period.

Key segments covered:

Segments

Subsegments

  Sales channel

 

  • Original Equipment Manufacturer (OEM)
  • Retail
  • E-commerce

  Application

 

  • Mechanical
  • Commercial
  • Electrical

  Material

 

  • Aluminum
  • Stainless steel
  • Fiberglass

 

  End-user Industry

 

  • Oil & Gas
  • Aerospace &Defense
  • Automotive
  • Others

 

 

Key benefits of the report:

  • This study presents the analytical depiction of the strut system market 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 strut system market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the strut system market growth scenario.
  • The report provides a detailed strut system market analysis depending on competitive intensity and how the competition will take shape in coming years. 
 
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