The Suspension Tuning Market report will provide readers, stakeholders, and businesses with in-depth information about market size, revenue growth, and general industry dynamics in order to help them better position themselves in the global Suspension Tuning Market. It offers thorough information on significant considerations, constraints, limitations, and issues in addition to market segmentations based on factors like product type, application, and regional bifurcation.
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 the latest analysis by Emergen Research. Rapid advancements in existing vehicle technologies, as well as significant investments by prominent market participants, are key factors 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. In addition, low-riders, on the other hand, are frequently outfitted with hydraulic suspensions that allow the height of each wheel to be quickly adjusted. Installing stiffer sway bars, which act like stiffer springs to improve cornering and handling, is another method of tuning a vehicle’s suspension to achieve better balance. Moreover, strut bars can also be added to improve body stiffness and aid in maintaining proper suspension during cornering. Furthermore, adjusting the front and back axles separately can help further customize the suspension.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
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
Target Audience of the Global Suspension Tuning Market Report:
Key Market Players
Investors
Venture capitalists
Small- and medium-sized and large enterprises
Third-party knowledge providers
Value-Added Resellers (VARs)
Global market producers, distributors, traders, and suppliers
Research organizations, consulting companies, and various alliances interested in this sector
Government bodies, independent regulatory authorities, and policymakers
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Major Geographies Analyzed in the Report:
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)
Market Segmentations of the Suspension Tuning Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Suspension Tuning market on the basis of product, application, and region:
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
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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.
Additional information offered by the report:
Along with a complete overview of the global Suspension Tuning market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
The report elaborates on the global Suspension Tuning market size and share governed by the major geographies.
It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
It further presents a detailed description of the company profiles of the key market contenders.
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