Automotive Suspension Market 2020 Outlook, Opportunity and Demand Analysis Report by 2026

Increasing emphasis on offering vehicles with superior comfort and ride control will propel the adoption of high-quality automotive suspension systems over the coming years. The zest to provide smooth ride quality to customers has compelled automakers to integrate advanced suspension systems in their vehicles. 
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These systems are vital for maintaining firm contact between the road and tires, further improving vehicle stability. Increasing emphasis on passenger safety and comfort will endow tremendous development opportunities for suspension system manufacturers. On this note, Global Market Insights, Inc., estimates that the automotive suspension market could cross USD 695 billion by the year 2026.
Consistent driving is one of the major causes of potential wear and tear of automotive suspension components. Parts like springs, shock absorbers, ball joints, struts, and bushings weaken due to constant strain over time. High maintenance & repair costs associated with these systems might act as a hindering factor for overall market growth.
In terms of two-wheeler suspension type, the industry is segmented into rear dual shock suspension, rear monoshock suspension, and front telescopic suspension. Out of these, the rear monoshock suspension market is expected to amass substantial growth, registering almost 8.5% CAGR by 2026.
These suspensions provide appropriate maneuvering as they are mainly centered around single point load. The system offer remarkable damping characteristics which in turn aids in providing enhanced handling & stability. However, on the flip side, these suspensions have some disadvantages like high maintenance, less service life and inability to carry high loads.
Four-wheeler suspensions meanwhile are categorized into semi-independent, dependent, and independent. The semi-independent suspension segment is anticipated to observe steady growth. They are preferably used with the rear axle due to its simple design and are time durable and lightweight. They are also comparatively less expensive than independent suspension and delivers better ride handling than dependent suspensions.  
On the regional front, North America is considered to be a lucrative market for automobile suspension companies as the region is witnessing healthy growth in goods transportation and commercial vehicle sales. According to sales tracker Autodata, car and truck sales in the U.S. was recorded around 17.6 million in 2016. While in 2019, North America controlled nearly 14% of the global automotive suspension market share.
When it comes to distribution channels, OEMs are reported to hold a major market share and are likely to maintain their dominance over the coming years. Automotive suspensions developed by OEMs normally have a long service life and provide high quality.
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Manufacturers are working with automakers to develop customer suspensions for vehicles. For instance, SsangYong, a Korean automaker, has joined forces with Australian OEM, Ironman 4x4 to integrate a new suspension system on its latest model, the Musso XLV. The testing reportedly included analyzing the suspension kit’s capability to improve overall ride quality of the vehicle.
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