Global Suspension Tuning Market Forecast to 2030

According to the most recent analysis by Emergen Research, the global suspension tuning market had a value of USD 42.90 billion in 2021 and is anticipated to grow at a 3.1% revenue CAGR over the projected period. Substantial improvements in already-existing vehicle technology and sizable expenditures made by well-known market players are the main factors fueling industry revenue growth.

With the reader's comprehension in mind, the team of analysts at Emergen Research painstakingly put up the new study named "Global Suspension Tuning Market." A sizable database on industry distribution is also included. The study takes into account both historical and current market conditions in order to forecast the worldwide Suspension Tuning Market outlook during the forecast period (2022-2030). Researchers that thoroughly examined the global market were able to identify the factors affecting the industry's overall growth. Strong analytical techniques, such as SWOT analysis and Porter's Five Forces, are used in the research to assess the strengths, weaknesses, opportunities, and threats connected to the growth of different market segments.

Suspension tuning is a demanding process that entails altering numerous internal suspension system parts to boost a car's performance. In order to travel more smoothly over obstacles, off-road vehicles, for instance, are often tuned to have longer suspension and wider tyres. On the other hand, low-riders typically have hydraulic suspensions installed, which enable fast adjustments to the height of each wheel. Another approach to adjust a vehicle's suspension to create better balance is by installing stiffer and sway bars, which operate like stiffer springs to improve cornering and handling. Furthermore, strut bars can be included to increase body rigidity and help maintain proper suspension when cornering. Further modifying the suspension can be accomplished by independently changing the front and rear axles.

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Competitive Terrain:

The global Suspension Tuning industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The leading market contenders listed in the report are:

Continental AG, FOX Factory, Inc., ANAND Group India, Hendrickson USA, L.L.C., KYB Corporation, Mando Corporation, Sogefi SpA, Tenneco Inc., ZF Friedrichshafen, Duroshox, Hitachi Astemo Americas, Inc., and Marelli Holdings Co., Ltd

Research Report on the Suspension Tuning Market Addresses the Following Key Questions:

  • Who are the dominant players of the Suspension Tuning market?
  • Which regional market is anticipated to have a high growth rate over the projected period?
  • What consumer trends and demands are expected to influence the operations of the market players in the Suspension Tuning market?
  • What are the key growth drivers and restraining factors of the Suspension Tuning market?
  • What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
  • What is the overall impact of the COVID-19 pandemic on the Suspension Tuning market and its key segments?

Market Overview:

The report bifurcates the Suspension Tuning market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

  • Architecture Outlook (Revenue, USD Billion; 2019-2030)
    • Double Wishbone Suspension
    • Multi-Link Suspension
    • Rigid Axle Suspension
    • Macpherson Suspension
    • Air Suspension
    • Others
  • Component Outlook (Revenue, USD Billion; 2019-2030)
    • Spring
    • Shock Absorber
    • Strut
    • Control Arm
    • Rubber Bushing
    • Leaf Spring
    • Sway Bar
    • Ball Joint
  • Vehicle Type Outlook (Revenue, USD Billion; 2019-2030)
    • Luxury Cars
    • Commercial Vehicles
    • Sports Cars
    • Passenger Vehicles

Regional Landscape section of the Suspension Tuning report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Some Key Highlights From the Report

  • The air suspension segment accounted for a significant revenue share in 2021. Increasing demand for suspension systems that aid in providing added stability, particularly during heavy-duty driving, is a key factor driving growth in this segment. In addition, increasing demand for air suspension can be attributed to its ability to reduce harshness and vibration. Furthermore, air suspension systems compensate for road potholes, uneven surfaces, and speed bumps by allowing vehicles to glide easily over the road surface.
  • The shock absorber segment accounted for a significant revenue share in 2021. Increasing consumer demand for electric and self-driving vehicles in various regions is a key factor driving this segment's growth. Electric vehicles are powered and accelerated by renewable energy sources. As a result, Original Equipment Manufacturers (OEMs) are investing heavily in shock absorbing technologies that aid in converting kinetic energy and heat generated by conventional shock absorbers and effectively converting it into electricity. This improves vehicle's performance while also increasing its mileage. Furthermore, rising demand for shock absorbers can be attributed to various cost-effective products offered by aftermarket providers. Factory shock absorbers are typically set up for stock ride height, which can be an issue when taking vehicles off-road. However, aftermarket shock absorbers give users more wiggle room when cruising over rocks and trees.
  • The commercial vehicles segment accounted for a moderate revenue share in 2021. Rising partnerships and greater emphasis on optimizing vehicle performance are important factors driving this segment's revenue growth. Commercial vehicles are an essential part of today's transportation network, accounting for vast majority of freight transport worldwide. As a result, demand for improved ride comfort and safety in these vehicles is critical. In addition, major automotive manufacturers are making significant investments to improve vehicle stability. Moreover, OEMs are focusing on developing suspension parts that are more reliable and last longer.
  • The aftermarket segment accounted for a moderate revenue share in 2021. Increasing demand for low-cost suspension system components is a major factor driving this segment's revenue growth. For example, suspension components, such as shock absorbers, are in high demand. In any driving situation, aftermarket shock absorbers improve handling at high speeds. In addition, majority of shock absorbers in the market are adjustable. As a result, user can tune according to their preferences. Moreover, high-quality aftermarket shocks may be more durable than stock shocks.
  • The Europe market accounted for second-largest revenue share in 2021. Stringent vehicle safety regulations enacted by governments in various countries is a crucial factor driving market growth in this region. Suspension tuning excels in improving vehicle safety and enables drivers as well as passengers to enjoy the ride more comfortably. Germany accounted for largest regional share due to increasing prevalence of prominent automotive manufacturers such as Audi, BMW, Mercedes, and others. These manufacturers are increasingly incorporating high-performance and advanced suspension systems to improve their vehicle performance and also offer their prospective consumers various customization options.

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Suspension Tuning market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Points of the Geographical Analysis:

  • Data and information related to the consumption rate in each region
  • Estimated increase in the consumption rate
  • Proposed growth of the market share of each region
  • Geographical contribution to market revenue
  • Expected growth rate of the regional markets

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