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Automotive Suspension Systems Market and Trend Analysis by Technology, Key Companies and Forecast, 2021-2036

This report provides a comprehensive overview of the global OE shock absorber sector, major suppliers, top 14 markets, technology trends and market size forecasts.

What are the market dynamics in the automotive suspension systems market?

The emergence of the novel coronavirus strain at the end of 2019 has far-reaching implications for the entire automotive industry. In the short term, demand for vehicles and, therefore, the parts that go into making them has dropped significantly, which will see revenues and profits at most suppliers and OEMs drop rapidly. In the longer term, companies will have to navigate resetting or restarting auto supply chains that could face additional restrictions following the outbreak. These additional costs, along with the dampened demand for parts and vehicles will weigh heavily on the balance sheets of both automakers and suppliers even once the virus is contained. 

Advances in the electronics used in dampers have increased the level of stability and comfort for new vehicles, but it is still expensive compared with conventional technology. Manufacturers use the technology more effectively, integrating them into their brand’s development, positioning, and sales process. Achieving this level of acceptance is the hardest part of any technology’s introduction and can be the turning point in terms of its market penetration. 

What is the product classification in the automotive suspension systems market?

The automotive suspension systems market is classified into conventional shock absorbers and electronic shock absorbers.

Conventional Shock Absorbers

There are many types of shock absorbers, but the most used works with hydraulics (oil). There are two of this type: mono-tube (or sometimes referred to as single-tube) and dual-tube (or twin-tube).

Electronic Shock Absorbers 

Active suspensions use some type of actuator to raise and lower the chassis independently at each wheel. While the main force fueling demand for such suspension systems is the need for safety and performance, the main factor holding back further growth is the continued economic crisis in certain regions along with the cost of such systems. Meanwhile, active suspension systems are increasingly appearing on vehicle models in India and China, including the Mercedes-Benz CL, SL-Active, CLS-Semi/Air, E Class – Air and S Class- Air; BMW 5 Series, 6 Series, 7 Series, X5 and X6, and Audi A8 and Q7.

Automotive suspension systems market, by product

Automotive suspension systems market, by product

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What are the top regions and countries for the automotive suspension systems market?

North America, Mercosur, Western Europe, Central Europe, Russia, Japan, China, India, Korea, Thailand, Other Asia, Iran, South Africa, and Australia are the top emerging regions in the automotive suspension systems market.

Automotive suspension systems market, by region

Automotive suspension systems market, by region

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Which are the key automotive suspension system companies?

Beijing West Industries, Benteler AG, Hitachi Ltd., Hyundai Mobis Co. Ltd., Kayaba Industry Co., Ltd., Magneti Marelli S.p.A., Meritor, Inc, Ride Control LLC, Showa Corporation, Tenneco Inc., ThyssenKrupp Bilstein, ZF Friedrichshafen AG are the key companies in the automotive suspension systems market.

Kayaba Industry Co., Ltd

KYB is one of the world’s largest suppliers of shock absorbers to vehicle makers as original equipment. KYB claims that one in four cars leaving production lines worldwide are fitted with KYB shock absorbers as standard. Its shock absorbers division produces shock absorbers for cars, light trucks, and motorcycles. The company produces a range of oil and gas shocks, as well as MacPherson strut replacement cartridges, MacPherson struts, gas replacement struts, and steering dampers. KYB’s main customers in Japan for automotive shock absorbers include Toyota, Honda, and Nissan.

DRIV Inc. 

DRiV is the name of the publicly traded aftermarket and ride performance company and a part of Tenneco. Tenneco says DRiV will serve as one of the largest global multi-line, multi-brand aftermarket suppliers and one of the biggest original equipment ride performance and braking suppliers to aftermarket, light vehicle, and commercial vehicle customers. DRiV will be headquartered in the greater Chicago area.

ZF Friedrichshafen AG 

ZF’s Suspension Components business designs and manufactures, amongst other products, shock absorbers and modules, levelling systems, active- and semi-active suspension systems and yaw dampers. ZF’s powertrain and suspension components division’s damper portfolio has been realigned. The basic technology is available with the designation “Basic”. ZF says it offers the essential functions of a monotube damper as well as standardized connection interfaces for various vehicle categories. If this basic technology is to be adapted to vehicles or special installation cases, it is offered as a “Customised” range, says ZF.

ThyssenKrupp Bilstein 

ThyssenKrupp Bilstein is made up of two divisions, namely the OE and aftermarket divisions. ThyssenKrupp Bilstein develops and manufactures shock absorbers for virtually all applications in passenger cars and sport utility vehicles. In addition to passive single- and dual-tube shock absorbers for axle damping and spring strut applications, the company’s portfolio includes adjustable damping systems. More specifically, ThyssenKrupp Bilstein’s product range includes steel dampers, full stabilizers, 1-tube and 2-tube shock absorbers.

Showa Corporation

Showa Corp’s range of automotive products includes shock absorbers for vehicles and motorcycles. More specifically, its shock absorber product range includes double wishbone (conventional and pressurized isolation), struts (conventional and high rigidity inverted type), and separately mounted spring type for rigid axles.

Automotive suspension systems market, by key companies

Automotive suspension systems market, by key companies

To know more about key companies, download a free sample

Market report scope

Key products Conventional Shock Absorbers and Electronic Shock Absorbers
Key regions North America, Mercosur, Western Europe, Central Europe, Russia, Japan, China, India, Korea, Thailand, Other Asia, Iran, South Africa, and Australia
Key companies Beijing West Industries, Benteler AG, Hitachi, Ltd., Hyundai Mobis Co., Ltd., Kayaba Industry Co., Ltd., Magneti Marelli S.p.A., Meritor, Inc, Ride Control LLC, Showa Corporation, Tenneco Inc., ThyssenKrupp Bilstein, and ZF Friedrichshafen AG

Scope

  • This report contains an overview of an automotive sector along with detailed related component forecasts, supported by information drawn from GlobalData’s extensive range of sources.

Scope

– This report contains an overview of an automotive sector along with detailed related component forecasts, supported by information drawn from GlobalData's extensive range of sources.

Reasons to Buy

– This report has been extracted from GlobalData's regularly updated online Automotive Intelligence Center. Containing content, tools and services not found in this report, GlobalData's AIC offers a cost-effective multi-user car market research solution.

Key Players

BWI Group

Meritor, Inc

Benteler International AG

Hitachi, Ltd.

Hyundai Mobis Co., Ltd.

ThyssenKrupp AG

Tenneco Inc.

KYB Corporation

Showa Corporation

Marelli Corporation

NSK Ltd.

ZF Friedrichshafen AG

Sogefi S.p.A.

Table of Contents

Table of Contents

1. Main Trends in the Sector

2. PESTER Analysis

Political

Economic

Social

Technological

Environmental

Regulatory

3. Companies

Beijing West Industries

Benteler AG

DRIV Inc.

Hitachi, Ltd.

Hyundai Mobis Co., Ltd.

Kayaba Industry Co., Ltd

Magneti Marelli S.p.A.

Ride Control LLC

Showa Corporation

ThyssenKrupp Bilstein

ZF Friedrichshafen AG

Others

4. Forecasts

Conventional shock absorbers

Electronic shock absorbers

5. Markets

Aftermarket trends

Emerging markets

Market shares

OE trends

Where is the sector heading?

6. Technologies

Active suspension systems

Recent innovations

7. Archive

Argentina

Brazil

8. Appendix

What is this Report About?

9. Contact Us

List of Tables

List of Tables

Table 1: Main trends in the Suspension systems sector

Table 2: Market fitment/penetration rates of conventional shock absorbers fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 3: Market volumes of conventional shock absorbers fitted to newly-assembled light vehicles, 2016-2036, ('000s units)

Table 4: Market fitment/penetration rates of electronic shock absorbers fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 5: Market volumes of electronic shock absorbers fitted to newly-assembled light vehicles, 2016-2036, ('000s units)

Table 6: Global manufacturer market shares for OE shock absorbers for passenger cars and light vehicles, 2010-2021, % of volume

Table 7: European manufacturer market shares for OE passive shock absorbers for passenger cars and light vehicles, 2010-2021, % of volume

Table 8: European manufacturer market shares for OE active shock absorbers for passenger cars and light vehicles, 2010-2021, % of volume

Table 9: Japanese manufacturer market shares for OE shock absorbers for passenger cars and light vehicles, 2010-2021, % of volume

Table 10: North American manufacturer market shares for OE active and passive shock absorbers for passenger cars and light vehicles, 2010-2021, % of volume

Table 11: South Korean manufacturer market shares for OE shock absorbers for passenger cars and light vehicles, 2010-2021, % of volume

List of Figures

List of Figures

Figure 1: Tenneco's electronic shock absorber

Figure 2: KYB shock absorbers

Frequently Asked Questions

The automotive suspension systems market is classified into conventional shock absorbers and electronic shock absorbers. 

Beijing West Industries, Benteler AG, Hitachi, Ltd., Hyundai Mobis Co., Ltd., Kayaba Industry Co., Ltd., Magneti Marelli S.p.A., Meritor, Inc, Ride Control LLC, Showa Corporation, Tenneco Inc., ThyssenKrupp Bilstein, and ZF Friedrichshafen AG are the key companies in the automotive suspension systems market.

North America, Mercosur, Western Europe, Central Europe, Russia, Japan, China, India, Korea, Thailand, Other Asia, Iran, South Africa, and Australia are the top emerging regions in the automotive suspension systems market.

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