Top 5 Automotive Suspension System Suppliers Companies in the Global Market, 2023

An automotive suspension system is a set of springs, dampers, and mechanical connections, connecting the wheels and axles to the chassis of a wheeled vehicle with an aim to manage the braking for safety, vehicle handling, and keeping passengers comfortable from vibrations, bumps, and other factors. One of the important advantages of the automotive suspension system is that it controls the vehicle's orientation and keeps the steering wheel perpendicular to get the maximum grip without losing its traction. This is done with the help of dampers as it reduces the free oscillation of springs. To offer good handling and steering stability, the suspension system also helps to protect the car and its essential parts from damage and wear. In order to reduce the tendency for pitching, vertical movement, and rolling, it helps to maintain vehicle stability while traveling over uneven terrain or turning.

As per Fortune Business Insights, the market for automotive suspension system will reach USD 107.12 billion by 2035 with CAGR 7.41%. The market reached USD 44.32 billion in 2022 and also set to reach the valaution of USD 45.45 billion in 2023.

Fortune Business Insights Highlights the Top 5 Companies in the Automotive Suspension System

1. KYB Corporation

KYB Corporation is among the leading Japanese automotive suspension system manufacturer. The company manufactures hydraulic, electronic products, and ride control. The company provides OEMs as well as Aftermarkets with its products for motorbikes, trucks, specialty vehicles, automobiles aircraft, railroad cars, industrial applications, buses, and a few others. The company has 15 manufacturing plants in the U.S., Europe, and Asia and provides its services in 32 locations across 21 countries. In order to alleviate its market position and grab early revenue growth opportunities, the firm is focused on product developments related to the current and future trends within the automotive industry.

For instance, in April 2021, an electronically controlled suspension system for snowmobiles was introduced by KYB to boost its portfolio. The electronically controlled suspension system integrates hydraulic technologies and core control which enhances the vehicle handling of snowmobiles.

2. ZF Friedrichshafen AG

ZF Friedrichshafen AG is a German automotive components manufacturer headquartered in Baden-Wurttemberg, Germany. The company exhibits a wide range of suspension system product portfolios. ZF encompasses 188 production sites in 31 countries, along with 18 development locations across eight countries. A major portion of the company's revenue is contributed by the European automotive market. For instance, in 2021, Europe contributed nearly 45% of the total revenue, followed by North America and the Asia Pacific regions.

ZF has been focused on the development of easy-drive automotive system systems providing advanced suspensions for vehicles. For instance, in July 2022, ZF Friedrichshafen AG showcased its new EasyTurn suspension that allows incredible mobility for vehicles to improve their turning. This new design allows the vehicle to rotate its front wheels up to 80 degrees which in turn drastically reduces the difficulties in rotating the wheels during parallel parking. ZF has been focused on the development of easy-drive automotive system systems providing advanced suspensions for vehicles. For instance, in July 2022,  new EasyTurn suspension was ntroduced by ZF Friedrichshafen AG showcased that allows vehicles to improve their turning.

3. ThyssenKrupp AG

ThyssenKrupp is an international firm embracing largely independent industrial technology businesses. The company has a presence across 56 countries. Its business activities are handled by six segments, including automotive technology, industrial components, industrial components, multi-tracks, steel Europe, marine systems, automotive technology, and material services. ThyssenKrupp Group provides its service in around 78 locations worldwide. The company is focused on increasing its manufacturing capacity and product portfolio to increase its presence in the emerging automotive market and has a portfolio of nearly 18,100 patents and utility models.

For instance, in December 2021, to manufacture product ranges in the North America region, the company announced to expand its production capacity. The company aims to invest USD 20 Million in expansion and holds one of the largest manufacturer titles in the North America region.

4. Tenneco Inc

Tenneco Inc. is a U.S.-based automotive part supplier and manufacturer. The company provides automotive parts to OEMs and the automotive aftermarket. The company operates in four different domains: powertrain, performance solutions, clean air, and motor parts. The company has a diverse product portfolio that includes braking, Engine, emission control, vehicle maintenance products, braking, shocks and struts and others. The company has 29 aftermarket distribution centres and 196 manufacturing sites globally. Most of the firms have adopted the automotive suspension system of Tenneco.

For instance, for the Li Auto Electric SUV, the firm announced to supply of its CVSAe intelligent suspension in September 2022. To provide optimal handling and comfort characteristics, Tenneco’s CVSAe electronic damping technology adapts to real-time data and road conditions.

5. Continental AG

Continental AG is a global automobile parts manufacturing firm, with headquarters in Hanover, Germany. The firm deals in chassis components, interior electronics, powertrain and other automotive components, and automotive safety and suspension. Continental's customers include all key automotive manufacturers such as General Motors, BMW, Ford, Toyota, Renault, Honda, Bharat Benz, Schmitz, Volvo, Freightliner Trucks, Porsche, PSA, Koegel, Daimler AG, and Volkswagen. To established its roots, the company has expanded its business and brand presence in other parts of the world as well.

For instance, In May 2021, electronic suspension system plant was launched by Continental in China. The company revealed its first phase, which includes manufacturing and assembling air suspension modules, air supply systems, and six production lines.

_{Growing Utility of Carbon Fibers Help Manufacturers to Boost their Presence}

To improve product quality and provide maximum safety to their users, prominent companies started focusing on R&D activities to maximize operational efficiency to achieve organizational goals. Furthermore, the introduction of carbon fibers indenting to increase the efficiency and the reduced weight of the suspension are expected to facilitate the demand for the automotive suspension system. One of the prominent reasons that has bolstered the demand for the product is the surging adoption of air and active suspension system, which help the firm to establish a remarkable market position in automotive suspension system industry.