The automotive suspension control arms market is anticipated to record a CAGR of 3.6% during the forecast period, up from US$ 43 Billion in 2021 to reach a valuation of US$ 63 Billion by 2032.
Increasing disposable income amongst the middle class is also projected to contribute to the growth of the automotive suspension control arms market share.
| Attributes | Details |
|---|---|
| Automotive Suspension Control Arms Market Expected Forecast Value (2032) | US$ 63 Billion |
| Automotive Suspension Control Arms Market Projected Growth Rate | 3.6% |
The report sheds light on the factors improving the sales of automotive suspension control arms and, in turn, the opportunities for the market players. However, the automotive suspension control arms market also faces some challenges, which might limit the automotive suspension control arms market share from reaching its potential.
Some of the key automotive suspension control arms market trends promoting the demand for automotive suspension control arms include an increase in demand for safe and pleasant transportation. Additionally, market growth is being driven by rising worldwide automotive purchases as a result of overcrowded public transportation.
Furthermore, increased disposable income is likely to boost market expansion in the foreseeable future. The automotive industry is undergoing massive changes, including rapid electrification, increased autonomy, and other technical developments. This shift is likely to have an impact on the development of new suspension systems that are more efficient and comfortable.
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The sales of automotive suspension control arms are directly correlated with the production of automobiles. Growing urbanization and increasing purchasing power of the middle-class population are estimated to boost the demand for passenger cars, which is likely to accelerate the growth of the demand for automotive suspension control arms.
Automotive suspension control arms are also known as A-arms. Automotive suspension control arms are a hinged suspension link between the chassis and the suspension hub that carries the wheel. Automotive suspension control arms include both upper and lower arms.
Automotive control arms support each wheel and provide a smooth ride to passengers/drivers.
The rising trend of car-sharing/pooling across the globe is expected to increase the demand for new cars, which will positively affect the sales of automotive suspension control arms.
Moreover, the growing demand for commercial vehicles in logistic and e-commerce industries is estimated to glare the growth of demand for automotive suspension control arms throughout the assessment period.
Most vehicles have either one or two suspension control arms per wheel on both rear and front suspension. Generally, front-wheel drive vehicles use only lower suspension control arms, while SUVs, four-wheel drive, trucks, and buses have both upper as well as lower suspension control arms.
Presently, manufacturers of automotive suspension control arms are focusing on lightweight materials for reducing the weight of the component, which increases the fuel efficiency of the vehicle.
Furthermore, the growing demand for hybrid vehicles in developed and developing countries for high fuel efficiency is also one of the prominent drivers that will accelerate the sales of automobiles.
This factor is projected to boost the sales of automotive suspension control arms. Moreover, due to increasing environmental safety concerns, the demand for electric vehicles is increasing, and also the government of several countries promotes electro. Thus, the rising demand for electric vehicles is anticipated for the growth of the automotive suspension control arms market over the forecast period.
Principal Consultant
The automotive suspension control arms market is segmented into seven geographical regions, including North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa.
East Asia is expected to hold a significant share in the sales of automotive suspension control arms owing to increasing sales of compact passenger cars across the region. In China, the government reduces the tax rate on compact passenger cars, which positively impacts the sales of passenger cars and eventually the demand for automotive suspension control arms.
Moreover, increasing the adoption of electric vehicles in East Asia also positively affects the growth of the sales of automotive suspension control arms over the forecast period. East Asia is expected to grow with a relatively high growth rate over the assessment period due to the increasing spending power of the middle-class population and also a rise in the standard of living. This factor is expected to fuel the growth of passenger cars which affirmatively accelerates the demand for automotive suspension control arms.
North America & Europe are also estimated to account for a significant share in the global automotive suspension control arms market owing to the presence of numerous automotive manufacturers across the regions. Further, Latin America, Middle East & Africa are also estimated to grow with a healthy CAGR over the assessment period.
The leading companies in the worldwide automotive suspension controls arms market are thyssenkrupp AG, Tenneco Inc., Continental AG, BENTELER, and ZF Friedrichshafen AG.
Because there are so many manufacturers, the market is becoming increasingly competitive. To maintain dominance in the sales of automotive suspension control arms, manufacturers are working to improve the value chain.
Recent Developments
Tenneco provided Monroe Intelligent Suspension Technology to a New Electric Crossover SUV in April 2021. BMW iX3 is a sports car produced by BMW. Tenneco's Continuously Variable Semi-Active Suspension with External Valve (CVSAe) technology is available on the BMW iX3, BMW AG's first all-electric SUV. This is expected to improve the demand for automotive suspension control arms.
Thyssenkrupp Bilstein, a damper specialist, will expand in China in March 2021. ThyssenKrupp Bilstein, a Damper expert based in the United States, has announced plans to expand its presence in China. The company is making a strategic investment in expanded production capacity for electrically adjustable damper systems in Changzhou.
The report consists of key players, contributing to the automotive suspension control arms market share. It also consists of organic and inorganic growth strategies adopted by market players to improve their market positions. This exclusive report analysis the competitive landscape and automotive suspension control arms market share acquired by players to strengthen their market position.
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| Report Attribute | Details |
|---|---|
| Growth rate | CAGR of 3.6% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 to 2020 |
| Forecast period | 2022 to 2032 |
| Quantitative units | Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
| Segments covered | Variants, Type, Region |
| Regional scope | North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia and New Zealand |
| Country scope | USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa |
| Key companies profiled | thyssenkrupp AG; Tenneco Inc.; Continental AG; BENTELER; and ZF Friedrichshafen AG. |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
The automotive suspension control arms market is likely to register a CAGR of 3.6% during the forecast period.
Key players holding substantial automotive suspension control arms market share include thyssenkrupp AG, Tenneco Inc., Continental AG, BENTELER, and ZF Friedrichshafen AG.
As per the analysis, the automotive suspension control arms market share is likely to be US$ 50 Bn by 2026.
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