The global automotive suspension market was valued at USD 146.72 Billion in 2022 and grew at a CAGR of 6.67% from 2023 to 2032. The market is expected to reach USD 279.84 Billion by 2032. The growth of the automotive suspension market can be attributed to the rising demand for springs, shock absorbers, joints, etc. Further, the increasing technological advancement has provided lucrative opportunities to the market.
The suspension system of an automobile is a group of parts that joins the wheels to the vehicle's body. It consists of springs, links, tyres, and shock absorbers. The suspension system's job is to absorb outside forces from the road to stabilize the vehicle. Air suspension systems are a particular type of suspension used in vehicles. The invention of air suspensions dates back to 1901 when it was used and named as a pneumatic spring for vehicles. Air suspensions have replaced conventional steel spring suspensions used in heavier vehicles. With the help of a compressor, the air is pumped into flexible bellows. It is widely used in heavy vehicles such as trucks, buses, semi-trailers, etc., instead of conventional springs. Since all ground or road forces occur on the vehicle through the tyre contact patches, the suspension must maintain as much of the road wheel in touch with the surface as possible.
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Increasing demand for automotive suspension in passenger vehicles: An automobile's suspension system significantly impacts the vehicle's ride and handling characteristics. The automotive industry offers a variety of suspension systems, but air-bagged suspension is the most often used. It is regarded as a groundbreaking invention in the automotive industry that attempts to offer a comfortable and easygoing driving experience. Leaf springs are connected in passenger vehicles to distribute and equalize the load across the tandem or multiple axles. Nowadays, many car suspension systems are used based on the kind of vehicle and whether they are located in the front or rear. Large vehicles like trucks, tractors, and buses use air suspension systems instead of conventional coil and steel suspensions.
High cost: The cost of the automotive suspension is high as it consists of many components that work efficiently to deliver a comfortable experience to the passengers. Also, the installation cost makes it more costly, and thus, many medium-priced vehicle manufacturers need help to afford the system. Also, many consumers in the developing region need help to afford the system due to the high price. The market growth is restricted to the demand for luxury vehicles. Also, high expertise is required for the maintenance of the system.
Increasing technological advancements: The growing advancements in the electronically controlled suspension system provide lucrative opportunities to the market, especially in developing regions like Asia-Pacific. The growing research and development base in Asia-Pacific has attracted many manufacturers. With the rise in automation trends, air suspension manufacturers are introducing new features that allow the driver to have full control of the vehicle. Initially, the air suspension system was only used in public buses and trains. Still, with the increasing advancements and development of compact components, it is also widely used in personal vehicles. Also, the growing number of accidents led to the development of advanced shock absorbers and air springs, which can be used to manage vehicles in difficult terrains efficiently. The demand from the logistics industry has also increased owing to the innovative features, as this helps to minimize the damage caused to cargo in transit.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant automotive suspension market, with a 38.11% market revenue share in 2022.
North America region will account for the largest market share with revenue growth. The region has a high demand for commercial and passenger vehicles, which boosts the demand for automotive suspension components such as shockers, springs, joints, struts, etc. The prominent global players are present in the U.S. and have a wide distribution network, propelling the regional market's growth. The expansion of the automotive manufacturing base in the region is providing a lucrative opportunity to the market.
North America region Automotive Suspension Market Share in 2022 - 38.11%
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The product type segment is divided into active, semi-active and passive. The passive segment dominated the market, with a share of around 54.23% in 2022. The purpose of passive suspensions is to balance the opposing needs of vehicle handling and riding comfort. A passive suspension system tries to overcome these constraints to deliver the optimal performance for vehicle control. The passive suspension system is made up of a damper and a spring.
The component segment is divided into air spring, shock absorber, leaf spring, coil spring, ball joint, struts, air compressor and others. The air spring segment dominated the market, with a share of around 24.92% in 2022. An air spring is a load-bearing part of an air suspension system found in machinery, buses and cars. An air spring below is an air column in a rubber and fabric container resembling a car tyre or two or three tyres piled on each other.
The suspension type segment is divided into hydraulic, leaf and air. The hydraulic segment dominated the market, with a share of around 51.03% in 2022. The hydraulic suspension systems to electrical or mechanical ones reveal various advantages. Hydraulic suspension systems have several benefits. The stiffer ride that hydraulic systems may provide is one of their better features.
The vehicle type segment is divided into passenger cars, commercial cars and two-wheelers. The passenger cars segment dominated the market, with a share of around 48.29% in 2022. An electric compressor is used to pump air into various sections of the suspension system in passenger cars, making air suspensions a special kind of suspension system. An air-bagged suspension system's job is to control the ideal driving height of the terrain's speed and state.
The distribution channel segment is divided into OEM and aftermarket. The OEM segment dominated the market, with a share of around 76.18% in 2022. An original equipment manufacturer is a business whose goods are utilized as parts by another business. The OEM frequently customize designs to adhere to the demands and specifications of the customer.
Report Description:
Attribute | Description |
---|---|
Market Size | Revenue (USD Billion) |
Market size value in 2022 | USD 146.72 Billion |
Market size value in 2032 | USD 279.84 Billion |
CAGR (2023 to 2032) | 6.67% |
Historical data | 2019-2021 |
Base Year | 2022 |
Forecast | 2023-2032 |
Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
Segments | Product Type, Component, Suspension Type, Vehicle Type, and Distribution Channel |
As per The Brainy Insights, the size of the Automotive Suspension market was valued at USD 46.58 billion in 2020 and is anticipated to reach USD 76.59 billion by 2028.
Global automotive suspension market is growing at a CAGR of 6.41% during the forecast period 2021-2028.
The global automotive suspension market has been segmented based on system, vehicle type, component and regions. Passenger Car is accounted for the largest market share in 2020. The shock dampener segment held a substantial industry share in 2020.
The Asia Pacific region emerged as the largest market for the Automotive Suspension.
The increase in the demand of the car is the key driving factor for the Automotive Suspension market.
The high maintenance cost of advanced suspension system could hamper the market growth.
The increasing demand of light weight suspension system will provide huge opportunities to the market.
Key players are Continental AG, Fox Factory, Inc., Gabriel India Limited, Hendrickson USA, L.L.C., KYB Corporation, Mando Corporation.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Product Type
4.3.2. Market Attractiveness Analysis by Component
4.3.3. Market Attractiveness Analysis by Suspension Type
4.3.4. Market Attractiveness Analysis by Vehicle Type
4.3.5. Market Attractiveness Analysis by Distribution Channel
4.3.6. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increasing use of automotive suspension in passenger and commercial vehicles
5.3. Restraints
5.3.1. High cost
5.4. Opportunities
5.4.1. Increasing technological advancements
5.5. Challenges
5.5.1. Addition of overall weight
6. Global Automotive Suspension Market Analysis and Forecast, By Product Type
6.1. Segment Overview
6.2. Active
6.3. Semi-Active
6.4. Passive
7. Global Automotive Suspension Market Analysis and Forecast, By Component
7.1. Segment Overview
7.2. Air Spring
7.3. Shock Absorber
7.4. Leaf Spring
7.5. Coil Spring
7.6. Ball Joint
7.7. Struts
7.8. Air Compressor
7.9. Others
8. Global Automotive Suspension Market Analysis and Forecast, By Suspension Type
8.1. Segment Overview
8.2. Hydraulic
8.3. Leaf
8.4. Air
9. Global Automotive Suspension Market Analysis and Forecast, By Vehicle Type
9.1. Segment Overview
9.2. Passenger Cars
9.3. Commercial Cars
9.4. Two Wheelers
10. Global Automotive Suspension Market Analysis and Forecast, By Distribution Channel
10.1. Segment Overview
10.2. OEM
10.3. Aftermarket
11. Global Automotive Suspension Market Analysis and Forecast, By Regional Analysis
11.1. Segment Overview
11.2. North America
11.2.1. U.S.
11.2.2. Canada
11.2.3. Mexico
11.3. Europe
11.3.1. Germany
11.3.2. France
11.3.3. U.K.
11.3.4. Italy
11.3.5. Spain
11.4. Asia-Pacific
11.4.1. Japan
11.4.2. China
11.4.3. India
11.5. South America
11.5.1. Brazil
11.6. Middle East and Africa
11.6.1. UAE
11.6.2. South Africa
12. Global Automotive Suspension Market-Competitive Landscape
12.1. Overview
12.2. Market Share of Key Players in the Automotive Suspension Market
12.2.1. Global Company Market Share
12.2.2. North America Company Market Share
12.2.3. Europe Company Market Share
12.2.4. APAC Company Market Share
12.3. Competitive Situations and Trends
12.3.1. Product Launches and Developments
12.3.2. Partnerships, Collaborations, and Agreements
12.3.3. Mergers & Acquisitions
12.3.4. Expansions
13. Company Profiles
13.1. Continental AG
13.1.1. Business Overview
13.1.2. Company Snapshot
13.1.3. Company Market Share Analysis
13.1.4. Company Product Portfolio
13.1.5. Recent Developments
13.1.6. SWOT Analysis
13.2. ZF Friedrichshafen AG
13.2.1. Business Overview
13.2.2. Company Snapshot
13.2.3. Company Market Share Analysis
13.2.4. Company Product Portfolio
13.2.5. Recent Developments
13.2.6. SWOT Analysis
13.3. Mando Corporation
13.3.1. Business Overview
13.3.2. Company Snapshot
13.3.3. Company Market Share Analysis
13.3.4. Company Product Portfolio
13.3.5. Recent Developments
13.3.6. SWOT Analysis
13.4. Thyssenkrupp AG
13.4.1. Business Overview
13.4.2. Company Snapshot
13.4.3. Company Market Share Analysis
13.4.4. Company Product Portfolio
13.4.5. Recent Developments
13.4.6. SWOT Analysis
13.5. Marelli Corporation
13.5.1. Business Overview
13.5.2. Company Snapshot
13.5.3. Company Market Share Analysis
13.5.4. Company Product Portfolio
13.5.5. Recent Developments
13.5.6. SWOT Analysis
13.6. Tenneco Inc.
13.6.1. Business Overview
13.6.2. Company Snapshot
13.6.3. Company Market Share Analysis
13.6.4. Company Product Portfolio
13.6.5. Recent Developments
13.6.6. SWOT Analysis
13.7. Hyundai Mobis Co. Ltd.
13.7.1. Business Overview
13.7.2. Company Snapshot
13.7.3. Company Market Share Analysis
13.7.4. Company Product Portfolio
13.7.5. Recent Developments
13.7.6. SWOT Analysis
13.8. BWI Group
13.8.1. Business Overview
13.8.2. Company Snapshot
13.8.3. Company Market Share Analysis
13.8.4. Company Product Portfolio
13.8.5. Recent Developments
13.8.6. SWOT Analysis
13.9. Hitachi Astemo Ltd.
13.9.1. Business Overview
13.9.2. Company Snapshot
13.9.3. Company Market Share Analysis
13.9.4. Company Product Portfolio
13.9.5. Recent Developments
13.9.6. SWOT Analysis
13.10. Sogefi SpA
13.10.1. Business Overview
13.10.2. Company Snapshot
13.10.3. Company Market Share Analysis
13.10.4. Company Product Portfolio
13.10.5. Recent Developments
13.10.6. SWOT Analysis
13.11. LORD Corporation
13.11.1. Business Overview
13.11.2. Company Snapshot
13.11.3. Company Market Share Analysis
13.11.4. Company Product Portfolio
13.11.5. Recent Developments
13.11.6. SWOT Analysis
13.12. KYB Corporation
13.12.1. Business Overview
13.12.2. Company Snapshot
13.12.3. Company Market Share Analysis
13.12.4. Company Product Portfolio
13.12.5. Recent Developments
13.12.6. SWOT Analysis
List of Table
1. Global Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
2. Global Active, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
3. Global Semi-Active, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
4. Global Passive, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
5. Global Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
6. Global Air Spring, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
7. Global Shock Absorber, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
8. Global Leaf Spring, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
9. Global Coil Spring, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
10. Global Ball Joint, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
11. Global Struts, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
12. Global Air Compressor, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
13. Global Others, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
14. Global Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
15. Global Hydraulic, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
16. Global Leaf, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
17. Global Air, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
18. Global Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
19. Global Passenger Cars, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
20. Global Commercial Cars, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
21. Global Two Wheelers, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
22. Global Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
23. Global OEM, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
24. Global Aftermarket, Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
25. Global Automotive Suspension Market, By Region, 2019-2032 (USD Billion)
26. North America Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
27. North America Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
28. North America Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
29. North America Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
30. North America Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
31. U.S. Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
32. U.S. Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
33. U.S. Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
34. U.S. Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
35. U.S. Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
36. Canada Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
37. Canada Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
38. Canada Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
39. Canada Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
40. Canada Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
41. Mexico Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
42. Mexico Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
43. Mexico Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
44. Mexico Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
45. Mexico Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
46. Europe Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
47. Europe Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
48. Europe Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
49. Europe Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
50. Europe Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
51. Germany Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
52. Germany Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
53. Germany Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
54. Germany Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
55. Germany Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
56. France Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
57. France Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
58. France Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
59. France Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
60. France Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
61. U.K. Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
62. U.K. Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
63. U.K. Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
64. U.K. Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
65. U.K. Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
66. Italy Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
67. Italy Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
68. Italy Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
69. Italy Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
70. Italy Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
71. Spain Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
72. Spain Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
73. Spain Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
74. Spain Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
75. Spain Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
76. Asia Pacific Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
77. Asia Pacific Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
78. Asia Pacific Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
79. Asia Pacific Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
80. Asia Pacific Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
81. Japan Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
82. Japan Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
83. Japan Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
84. Japan Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
85. Japan Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
86. China Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
87. China Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
88. China Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
89. China Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
90. China Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
91. India Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
92. India Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
93. India Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
94. India Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
95. India Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
96. South America Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
97. South America Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
98. South America Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
99. South America Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
100. South America Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
101. Brazil Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
102. Brazil Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
103. Brazil Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
104. Brazil Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
105. Brazil Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
106. Middle East and Africa Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
107. Middle East and Africa Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
108. Middle East and Africa Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
109. Middle East and Africa Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
110. Middle East and Africa Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
111. UAE Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
112. UAE Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
113. UAE Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
114. UAE Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
115. UAE Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
116. South Africa Automotive Suspension Market, By Product Type, 2019-2032 (USD Billion)
117. South Africa Automotive Suspension Market, By Component, 2019-2032 (USD Billion)
118. South Africa Automotive Suspension Market, By Suspension Type, 2019-2032 (USD Billion)
119. South Africa Automotive Suspension Market, By Vehicle Type, 2019-2032 (USD Billion)
120. South Africa Automotive Suspension Market, By Distribution Channel, 2019-2032 (USD Billion)
List of Figures
1. Global Automotive Suspension Market Segmentation
2. Automotive Suspension Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Automotive Suspension Market Attractiveness Analysis by Product Type
9. Global Automotive Suspension Market Attractiveness Analysis by Component
10. Global Automotive Suspension Market Attractiveness Analysis by Suspension Type
11. Global Automotive Suspension Market Attractiveness Analysis by Vehicle Type
12. Global Automotive Suspension Market Attractiveness Analysis by Distribution Channel
13. Global Automotive Suspension Market Attractiveness Analysis by Region
14. Global Automotive Suspension Market: Dynamics
15. Global Automotive Suspension Market Share by Product Type (2022 & 2032)
16. Global Automotive Suspension Market Share by Component (2022 & 2032)
17. Global Automotive Suspension Market Share by Suspension Type (2022 & 2032)
18. Global Automotive Suspension Market Share by Vehicle Type (2022 & 2032)
19. Global Automotive Suspension Market Share by Distribution Channel (2022 & 2032)
20. Global Automotive Suspension Market Share by Regions (2022 & 2032)
21. Global Automotive Suspension Market Share by Company (2022)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global automotive suspension market based on below mentioned segments:
Global Automotive Suspension Market by Product Type:
Global Automotive Suspension Market by Component:
Global Automotive Suspension Market by Suspension Type:
Global Automotive Suspension Market by Vehicle Type:
Global Automotive Suspension Market by Distribution Channel
Global Automotive Suspension Market by Region:
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Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:
Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.
Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.
The supply side for a domain specific market is analysed by:
The demand side for the market is estimated through:
In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.
Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:
Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:
Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.
This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.
Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.
The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
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