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Automotive Suspension Market Share, Size,Growth, Key Players,
Outlook and Forecasts to 2024 | Hexa Research
“ The global automotive suspension market is expected to reach USD 104.32
billion by 2024.”
30 November 2018
The global automotive suspension market is expected to reach USD 104.32 billion by 2024, driven by the
increasing annual production of light commercial vehicles, medium & heavy duty commercial vehicles, and
passenger cars. In addition, need for a lightweight suspension system for vehicle stabil ity, comfort and safety
is anticipated to boost the market over the forecast period.
Asia Pacific was the largest market accounting for 36.2% of the revenue share in the year 2016 and is
expected to maintain its dominance owing to growing automobile industry in India and China. North America
and Europe followed suit.
Rise in disposable income in developing nations such as China and India is expected to fuel the growth of air
suspension in the region. Uncertain road conditions in countries such as India has increased the market for
replacements which is expected to drive the market in the region.
Air suspension is expected to grow at the fastest CAGR over the forecast period. Furthermore, the
passenger vehicle segment is expected to grow with significant CAGR compared to light commercial
vehicles and heavy commercial vehicles.
Browse Details of Report @ https://www.hexaresearch.com/research-report/automotive-suspension-market
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