Automotive Suspension Market Size, Share, Growth Analysis, By System Type(Passive and semi active/active system), By Suspension Type(Hydraulic, air suspension and leaf spring suspension) - Industry Forecast 2024-2031

Automotive Suspension Market size was valued at USD 45.10 billion in 2022 and is poised to grow from USD 46.36 billion in 2023 to USD 57.82 billion by 2031, growing at a CAGR of 2.8% during the forecast period (2024-2031).

The automotive suspension market has a competitive landscape characterized by intense competition among key players. They focus on product innovation, research and development, strategic partnerships, and mergers and acquisitions. Collaboration between suspension system manufacturers and automobile manufacturers is common to ensure seamless integration and customization. Sustainability is also gaining importance, with the exploration of lightweight materials and eco-friendly technologies. Overall, the market is dynamic, with players striving to differentiate themselves through technological advancements and meeting evolving consumer demands. 'Tenneco Inc. (US)', 'Continental AG (Germany)', 'ZF Friedrichshafen AG (Germany)', 'Schaeffler AG (Germany)', 'Sogefi SpA (Italy)', 'Magneti Marelli SpA (Italy)', 'KYB Corporation (Japan)', 'ThyssenKrupp AG (Germany)', 'Mondo Corporation (Japan)', 'BENTELER International AG (Germany)', 'Aisin Seiki Co., Ltd. (Japan)', 'Showa Corporation (Japan)', 'Hitachi Automotive Systems, Ltd. (Japan)', 'NHK Spring Co., Ltd. (Japan)', 'Tower International (US)', 'Federal-Mogul Motorparts LLC (US)', 'Benteler Automotive (Germany)', 'Magna International Inc. (Canada)', 'Delphi Technologies (UK)', 'BWI Group (China'

One key driver of the automotive suspension market is the increasing demand for enhanced vehicle comfort and safety. Consumers are increasingly seeking vehicles with superior ride quality, reduced vibrations, and improved stability. This drives the demand for advanced suspension systems that can absorb shocks and vibrations from the road, providing a smooth and comfortable ride experience. Manufacturers are investing in research and development to develop innovative suspension technologies that offer improved comfort and safety features, thereby driving the market growth.

One key market trend in the automotive suspension market is the increasing adoption of advanced driver assistance systems (ADAS) and autonomous driving technologies. These technologies are driving the demand for innovative suspension systems that can adapt to changing driving conditions and provide enhanced stability and comfort. Suspension systems play a critical role in optimizing the performance of ADAS and autonomous vehicles by ensuring precise handling, minimizing body roll, and maintaining stability during various driving scenarios. As the automotive industry moves towards a future with increased automation and connectivity, the integration of advanced suspension technologies becomes crucial to deliver optimal ride quality and safety in vehicles equipped with ADAS and autonomous capabilities.

The dominant segment in the automotive suspension market is Asia Pacific. Asia Pacific holds the largest market share due to several factors such as the presence of major automotive manufacturing hubs, increasing disposable income, expanding transportation infrastructure, and a significant demand for vehicles in countries like China, India, and Japan. The region is witnessing robust growth in vehicle production and sales, driving the demand for automotive suspension systems.