How Are Consumer Preferences Influencing Suspension System Innovations Globally?

Global Automotive Suspension Market Projected to Reach USD 53.36 Billion by 2030, Driven by Technological Advancements and Strategic Collaborations

The global Automotive Suspension Market Size is poised for significant growth, with projections indicating an increase from USD 42.51 billion in 2023 to USD 53.36 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 3.3% during the forecast period ​. This growth is attributed to the rising demand for vehicle comfort, safety, and the integration of advanced suspension technologies.​

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Competitive Landscape: Key Players and Market Dynamics

The automotive suspension market is characterized by the presence of prominent players such as ZF Friedrichshafen AG, Continental AG, Mando Corporation, ThyssenKrupp AG, KYB Corporation, and Tenneco Inc. These companies are focusing on product innovations and strategic partnerships to enhance their market position. The adoption of active and semi-active suspension systems is gaining traction, offering improved ride quality and vehicle handling.​

Regional Demand: Asia-Pacific Leading the Market

The Asia-Pacific region dominates the automotive suspension market, driven by the presence of major automotive manufacturing hubs in countries like China, Japan, India, and South Korea ​. The increasing production of vehicles, coupled with the demand for advanced suspension systems, contributes to the region’s leading position.​

Country-Specific Insights

Vietnam: Suspension Market Growth in Vietnam

Vietnam’s automotive industry is experiencing growth, with increased investments in vehicle manufacturing. The demand for suspension systems is rising, aligning with the country’s expanding automotive sector.​

Thailand: Suspension Trends in Thailand

Thailand serves as a significant production base for automotive components, including suspension systems. The country’s strategic location and skilled workforce attract investments, fostering growth in the suspension market.​

Japan: Suspension Opportunities in Japan

Japan’s automotive industry emphasizes technological advancements, leading to the development of innovative suspension systems. Companies are investing in research and development to enhance vehicle performance and comfort.​

South Korea: Suspension Consolidation in South Korea

South Korea’s automotive suspension market is expected to grow at a CAGR of 3.30% between 2025 and 2034, driven by technological advancements and the rising demand for electric vehicles .​

Singapore: Suspension Updation in Singapore

Singapore focuses on adopting advanced automotive technologies, including modern suspension systems, to improve vehicle safety and performance. The country’s commitment to innovation supports the growth of the suspension market.​

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United States: Suspension Trends in the U.S.

The U.S. automotive suspension market benefits from the demand for SUVs and trucks, which require robust suspension systems. The integration of advanced technologies enhances vehicle comfort and handling.​

China: Suspension Growth in China

China’s automotive suspension system market accounted for 35% of the revenue share in 2024, fueled by its substantial automotive manufacturing base and the rapid adoption of electric vehicles .​

Europe: Suspension Consolidation in Europe

European automakers are engaging in strategic partnerships to enhance their technological capabilities and expand their global footprint. Collaborations with firms like Brembo, which acquired Öhlins Racing for $405 million, aim to leverage technological advancements and meet the growing demand for advanced suspension systems .​

Key Recent Developments

• In October 2024, Brembo announced the acquisition of Swedish suspension technology manufacturer Öhlins Racing for $405 million. This strategic move aims to strengthen Brembo’s position in the automotive market by enhancing their offering of integrated intelligent solutions

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Market Segmentation: In-Depth Analysis:

by System

Active
Passive
Semi-active

According to the system, in 2023, the automotive suspension market’s greatest market share is approximately 42.4%, held by the passive system segment. The category is anticipated to keep its dominance until 2030 and increase at a compound annual growth rate (CAGR) of 3.3% over the projected period, per the MMR research. Its broader application in a variety of vehicles, including passenger automobiles and commercial vehicles, is what accounts for the passive system category. Because of their straightforward design and reduced maintenance requirements, passive systems are quite popular on the market and are therefore a desirable option for manufacturers.

by Component

Air Compressor
Shock Dampener
Struts
Control Arm
Others

by Suspension Type

Hydraulic Suspension
Air Suspension
Leaf Spring

The Leaf Spring held the most market share in the automotive suspension market in 2023, according to suspension type, and is predicted to continue to do so until 2030. Because of its affordability, longevity, and widespread use in a variety of vehicle types, including trucks, passenger cars, and containers, leaf springs dominate the automotive suspension industry. Manufacturers and customers like leaf springs because they provide robust support, efficiently absorb shocks, and need minimal upkeep. The performance and longevity of leaf springs have been improved by developments in material technology, securing their place as a top suspension part in the automobile sector.

by Vehicle Type

Two-wheelers
Passenger Cars
Commercial Vehicles

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Market Key Players : In-Depth Analysis:

1. Tenneco Inc. (U.S.)
2. Borgwarner Inc. (U.S.)
3. FOX Factory, Inc. (U.S)
4. Hendrickson USA LLC.
Europe:
1. ZF Friedrichshafen AG (Germany)
2. Continental AG (Germany)
3. Thyssenkrupp AG (Germany)
4. Sogefi S.P.A (Italy)
5. Bilstein Group ( Germany)
6. Magneti Marelli S.P.A. (Italy)
7. Benteler International AG (Austria)

Note:

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