Automotive Suspension System Market To Experience 7.41% CAGR During 2023-2035; Enhanced Hydraulic Suspension To Boost Market Growth

The automotive suspension system market size was valued at USD 44.32 billion in 2022. The market is projected to grow from USD 45.45 Billion in 2023 to USD 107.12 billion by 2035, exhibiting 7.41% CAGR during 2023-2035. Fortune Business Insights™ presents this information in its report titled “Automotive Suspension System Market Size, Share & COVID-19 Impact Analysis, By System (Passive System, Active System, and Semi-active System), By Component (Shock Dampener, Struts, Control Arm, Ball Joint, Air Compressors, and Others), By Suspension Type (Hydraulic Suspension, Air Suspension, and Leaf Spring), By Vehicle Type (Passenger Cars and Others), and Regional Forecasts, 2023– 2035”

A wheeled vehicle's wheels and axles are connected to the chassis by a mechanical system of springs or shock absorbers called an automobile suspension system. Additionally, this system permits relative motion between the wheels and axles, cushioning the shock from various road surfaces. The global market is being driven by the rising need for better comfort and safer ride in automobiles. Additionally, it is anticipated that technological developments in suspension systems related to future mobility, electrification, and autonomous driving technologies will propel market expansion. However, market expansion is hampered by high capital investment and suspension component costs as well as lack of raw resources.

Global Market Experienced Fall Due to Scarcity of Raw Material

The global market outlook was significantly impacted by the COVID-19 pandemic. Due to the pandemic, there were shortages of raw resources and component parts throughout the world. Due to production bottlenecks and resulting cost increases for the manufacturer, the market shrank. The pandemic has also hastened the development of internet sales and e-commerce, which raised competition and altered market circumstances for manufacturers, thereby hampering the automotive suspension system market growth. OEMs made investments in digital platforms and technologies to contact customers and keep driving sales as the market shifted toward online sales and e-commerce. Major companies have expanded their product and service portfolios to adapt to shifting market dynamics. One example is the creation of new, creative suspension systems to fulfil the need for electric and hybrid automobiles.

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Affordable Ride Height and Suspension Levelling Devices to Increase Demand

Vibracoustic created an affordable ride height and suspension levelling device in August 2022. The technique may make it easier and less expensive for automakers to enjoy the height-leveling advantages of an air suspension. Electric vehicles benefit from air suspensions, and creating a new system could help bring down the price of electric automobiles. A smaller battery pack can be used by electric vehicles with the same range due to the system's increased efficiency.

High Integration Rate of Enhanced Hydraulic Suspension in Commercial and Off-road Vehicles to Propel Market Growth

The majority of the market will be dominated by hydraulic suspension in 2022. The key manufacturers in the automotive sector are concentrating on providing upgraded hydraulic suspensions for better vehicle handling and a more comfortable ride. Since hydraulic suspension is most frequently used in different types of automobiles, the market is growing. In 2022, leaf spring and air suspension both held sizable market shares. Commercial and off-roading vehicles exhibited their respective market shares by integrating leaf springs at a high rate. The market expansion for air suspension, however, is largely driven by the rising demand for improved suspension types in a variety of new fossil and electric-fueled vehicles.

Competitive Landscape

Existing Players Maintain their Position by Creating Cutting-Edge Technologies

To stay ahead of the competition, numerous regional and worldwide players frequently create cutting-edge techniques. To facilitate market expansion, several businesses are creating mergers and acquisitions, partnership, and collaboration plans. For instance, in 2022, the BMW Group and ZF Friedrichshafen AG worked together to develop a carbon fiber telescopic suspension fork. The fork will be used with BMW's M 1000 RR motorcycle. It is made of a carbon fiber outer tube and a carbon fiber inner tube.

Notable Industry Development:

• May 2022 – Tenneco Inc. supplied its intelligent suspensions for Mercedes-AMG SL-Class Roadsters. The 8th generation of the SL range of vehicles from Mercedes is equipped with Tenneco’s CVSA2 semi-active or integrated CVSA2/Kinetic suspensions.

List of Key Players Profiled in the Report

• KYB Corporation (Japan)


• ZF Friedrichshafen AG (Germany)


• ThyssenKrupp AG (Germany)


• Tenneco Inc. (U.S.)


• Continental AG (Germany)


• NHK Springs Co., Ltd. (Japan)


• Benteler International AG (Germany)


• HL Mando Corp. (South Korea)


• Sogefi Group (Italy)


• Marelli Corporation (Japan)

Further Report Findings

• Asia Pacific held the greatest automotive suspension system market share in 2022. The higher automobile manufacturing rate that has occurred as part of this region's pandemic recovery is the cause of the regional market growth. Major regional firms are concentrating on creating novel technologies to support the development of electrification in the automotive sector. This market is expanding in Asia Pacific as a result of the rising demand for high-performance suspension kits in developed nations such as China, India, and Japan.

• The demand for sophisticated suspension systems is likely to be highest in Europe throughout the anticipated years, where the market accounted for a sizeable portion of the total in 2022. To cut carbon emissions, many nations are implementing strict emission rules and moving toward environment-friendly transportation options.


• North America, which is the second-most dominant region after Asia Pacific, also held a sizeable market share in 2022. The surge is attributable to rising demand for new, high-tech cars and trucks, especially SUVs and pickup trucks, which frequently feature bigger, more sophisticated systems.


• The rest of the world's market had a respectable market share in 2022 and is anticipated to rise steadily over the anticipated time frame. The development is linked to the high demand for luxury cars in nations such as Saudi Arabia and the United Arab Emirates. In addition, rising tourism in these areas raises the demand for rental automobiles, which, in turn, surges the demand for automotive suspension systems and expands the industry.

Table of Segmentation