The Suspension Tuning Market report is updated with the latest economic scenario and market scope with regard to the ongoing COVID-19 pandemic. The report covers growth prospects as well as current and futuristic revenue estimations in a post COVID scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market.
The global suspension tuning market size was USD 42.90 Billion in 2021 and is expected to register a revenue CAGR of 3.1% during the forecast period, according to latest analysis by Emergen Research. Rapid advancements in existing vehicle technologies, as well as significant investments by prominent market participants are key factor driving market revenue growth.
Suspension tuning is a rigorous process that involves modifying various internal components of a vehicle\’s suspension system to improve its performance. For example, off-road vehicles, are typically tuned to have longer suspension and larger tires to ride more smoothly over obstacles.
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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.
Leading Players Profiled in the Report:
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.
Market Scope:
One of the report’s central components is the broad Suspension Tuning market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the Suspension Tuning market players.
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Emergen Research has segmented the global suspension tuning market based on architecture, component, vehicle type, distribution channel, and region:
- 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
- Distribution Channel Outlook (Revenue, USD Billion; 2019–2030)
- OEMs
- Aftermarket
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
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Key questions addressed in the report:
· What are the key factors driving the global Suspension Tuning market?
· Who are the key manufacturers in this market space?
· Who are the distributors, traders and dealers of this market?
· What are the market opportunities and risks affecting the performance of the vendors in the global Suspension Tuning market?
· What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?
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