Global Automotive Springs and Damper Market size was valued US$ XX Mn. in 2019 and the total revenue is expected to grow about XX% from 2020 to 2027, reaching nearly US$ XX Mn.
Global Automotive Springs and Damper Market: Overview
Strut is formed by the combination of spring and damper; the spring is supporting part of the vehicle weight and the damper is used to control the oscillations of spring. When the vehicle passes over bump or over uneven surface the vehicle wheel transfers this shock to the spring suspension system. This shock is absorbed by spring then the damper damps the oscillations of spring. This system avoids the sudden shock transfer to driver and passenger.
The Spring and Damper is suspension system component which prevents vehicle from bouncing on the uneven surface. It is a very essential part to maintain the wheel contact with road surface to get more traction. This system provides comfort to the driver and passengers in the vehicle.
Global Automotive Springs and Damper Market: Vehicle type
The Global Automotive Springs and Damper Market is segmented by vehicle type into Passenger vehicle and Commercial Vehicle. The Passenger vehicle is the largest segment and the demand for the Spring and Damper is majorly generated from Passenger vehicle segment, this segment is also the major driver of aftermarket sale.
Global Automotive Springs and Damper Market: Drivers and Restraints
Automotive Springs and Dampers perform the action to solve the motion of the wheel up and down to ensure safety. This will increase demand for Automotive Springs and Damper.
Increase in demand for passenger vehicles and two-wheelers around the globe driving the demand for the Global Automotive Springs and Damper Market.
New developing technology in Springs and Dampers and development in vehicle market will be a major factor for Automotive Springs and Dampers.
Global vehicle market is mainly driven by light moving vehicle and fuel efficient vehicles, Government bodies are also implementing new rules for reduction of emission on the manufacturing. Thus, the manufacturers are trying to make vehicles lighter in weight, for this adoption various new technology and design development is in progress. Electronic system makes a good replacement for a mechanical system. Electronics systems are lightweight compared to mechanical one. These will drive the Electronic Springs and Damper System. This will hamper the growth of the conventional Automotive Damping Market.
Global Automotive Springs and Damper Market: Regional Overview
The Global Automotive Springs and Damper Market is segmented region-wise into Asia Pacific, North America, Europe, South America, and Middle East & Africa. Europe and North American regions are progressively growing, and both are showing positive sign of growth in the forecasted period. Growing demand in Europe and North America market is attracting focus of key players which is a good sign for the increase of global component manufacturing market.
The Asia Pacific Region is the largest market for the Global Automotive Springs and Damper Market. The Asia Pacific is the major producer of vehicle component and has major market for passenger vehicle and two-wheeler segment. Owing to its large population and household income growth in this region. This will drive the future of the Automotive Springs and Damper Market.
Global Automotive Springs and Damper Market: Segmentation
The Global Automotive Springs and Damper Market is segmented by Vehicle Type (Passenger Vehicle, Commercial vehicle), Springs and Damper Type (Twin-Tube Types, Mono-Tube Type, Hydraulic Type, Pneumatic Type) and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific)
The report also helps in understanding Automotive Springs and Damper Market dynamics, structure by analyzing the market segments and projects the Automotive Springs and Damper Market size. Clear representation of competitive analysis of key players by Power range, price, financial position, Product portfolio, growth strategies, and regional presence in the Automotive Springs and Damper Market make the report investor’s guide.
Scope of the Automotive Springs and Damper Market
Automotive Springs and Damper Market, by Vehicle Type
● Passenger Vehicle
● Commercial Vehicle
Automotive Springs and Damper Market, by Damper Type
● Twin-Tube Types
● Mono-Tube Type
● Hydraulic Type
● Pneumatic Type
Automotive Springs and Damper Market, by Region
● Asia Pacific
● North America
● South America
● Middle East & Africa
Key players operating in Automotive Springs and Damper Market
● BWI Group
● Continental AG
● F&P America
● FOX Factory Inc.
● F-TECH INC.
● Gabriel India Limited
● Hendrickson USA L.L.C
● Kumpulan Belton Berhad
● KYB Corporation
● Magneti Marelli S.p.A
● Multimatic Inc.
● Sogefi SpA
● Tenneco Inc.
● Tinsley Bridge Group
● Tower International
● Unity Automotive
● ZF TRW
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