Market Research Report
Global Automotive Composite Suspension Components Market by Component Type, by Vehicle Type, by Manufacturing Process Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017-2022
|Published by||Stratview Research||Product code||530126|
|Published||Content info||215 Pages
Delivery time: 1-2 business days
|Global Automotive Composite Suspension Components Market by Component Type, by Vehicle Type, by Manufacturing Process Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017-2022|
|Published: July 18, 2017||Content info: 215 Pages||
This report, from Stratview Research, studies the composite suspension components market in the global automotive industry over the period 2017 to 2022. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities in the market.
The global automotive composite suspension components market is still at a nascent stage but possesses significant growth potential over the next five years to reach US$ 83.7 million in 2022. Organic growth of automobile production, growing preference for composite components in passenger and light commercial vehicles, development of new composite suspension applications, an advancement in the composites technology, and stringent government regulations regarding fuel efficiency and carbon emission reductions are the major growth drivers of the market.
Composite suspension components offer several benefits over steel components, such as lightweight, high durability, better vibration energy absorption, and excellent fatigue resistance. For example; composite leaf spring is up to five times more durable than that of a similar sized steel leaf springs at just 1/7th the weight.
The global automotive composite suspension components market is segmented based on component type as leaf spring, coil spring, suspension arm, stabilizer bar, and other components. Composite leaf springs are expected to remain the largest segment in the global automotive suspension components market during the forecast period. Composite leaf springs are mainly used in passenger cars and light commercial vehicles. Pickup, Van, and SUVs are the major vehicle types that are using composite leaf springs on either transversal or longitudinal position depending on requirements, vehicle design, etc. All major OEMs are evaluating the usage of composite leaf springs in their major Pickup, VAN, and SUV models.
Based on the vehicle type, the global automotive composite suspension components market is segmented as passenger car, light commercial vehicle (LCV), medium & heavy duty commercial vehicle (M&HCV), and others. LCV, currently, dominates the global automotive composite suspension components market because of higher usage of composite leaf springs in LCVs. The passenger car is projected to witness the highest growth during the forecast period, driven by an increasing usage of leaf springs and coil springs.
Based on regions, Europe is expected to remain the largest market for composite suspension components in the automotive industry over the next five years, driven by higher usage of composite leaf springs in LCVs. Asia-Pacific is a relatively small market but is expected to experience the highest growth during the same period.
The supply chain of this market comprises raw material suppliers, composite component manufacturers, OEMs, distributors, and end users. The global automotive composite suspension components market is a highly consolidated with the presence of less than a dozen global players. The key composite component manufacturers for suspension system are Liteflex LLC, IFC Composite GmbH, Benteler-SGL, and Sogefi Group. New product development, capacity expansion, and process optimization are the key strategies adopted by the major players to gain a competitive edge in the market.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research's internal database and statistical tools. More than 700 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. About 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts have been executed to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Current market segmentation of any one of the vehicle type by component type
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across sectors.