Automotive Double Wishbone Suspension Market Size, Share & Industry Analysis, By Product Type (Independent Suspension, Non- Independent Suspension), By Application Type (ATVs, SUVs, High Performance Vehicles, Pickup Trucksv) and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Automotive double wishbone suspension is an arm structure that connects the wheel to the suspension springs and are situated between the car’s chassis and the knuckle on the wheel assembly. It consists of dual arms, one at the top and the other at the bottom of the suspension which permits each wheel to act and react independently from one another. These arm structures varies in sizes and have multiple orientations which facilitates performance enhancement, stability of vehicles, and durability of suspension components. This component is majorly used in high performance cars, ATVs, and other heavy commercial vehicles. The increasing preference for double wishbone suspension systems among the high performance vehicle manufacturers such as Lamborghini, McLaren Automotive, Ferrari, Porsche and others is likely to propel the product market. Moreover, the rising demand for safety, comfort and stability in vehicles is expected to boost opportunities for double wishbone suspension system in automotive sector.
Key Market Driver -
Increasing demand for high performance vehicles as well as rising safety and comfort concerns are expected to drive the growth of the market in the forecast period.
Key Market Restraint -
Complex may hinder the demand for transportation and ultimately hamper the growth of the fifth wheel coupling market during the forecast period.
Market Segmentation:
Globally, the automotive double wishbone suspension market is segmented by product type, by application type, and by geographic coverage. The product type is further segmented into independent suspension and non- independent suspension. The independent suspension segment holds the major share in the global market. The independent suspension system means that suspension on every wheel is distinct from each other so the bumps on the road only affect the contacted wheel. The application type is further bifurcated into SUVs, ATVs, high performance vehicles, and pickup trucks. The SUVs segment accounts for the largest share in the global market. The deployment of double wishbone suspension system has increased in the SUVs to enhance the performance and driving dynamics of the vehicle. The demand for SUVs have increased over the period for on road as well as off-roading activities. Also, the rising trend for racing events and off-road competitions in various regions is also likely to fuel the growth of the automotive double wishbone suspension system market across the world.
Key Players:
Major players operating in the global automotive double wishbone suspension market include Aptiv , Busche Performance Group, ZF Friedrichshafen AG, Marelli Holdings Co., Ltd., and SHOWA CORPORATION among others.
Key Insights
- New Advancements in automotive double wishbone suspension
- Number of Products, Key Countries, 2019
- New Product Launches, Key Players
Regional Analysis:
Geographically, the automotive double wishbone suspension market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific holds the largest share of the global market. The high sales and production of vehicles is contributed to the rising urbanization, improvement in the living standards, as well as rise in the purchasing capacity of people in this region. These factors are the major contributors for the high share in automotive double wishbone suspension system market. The development of road infrastructure and exapnsion of industrial sector has largely boosted the transportation and logistics sector thus boosting the fleet management in this region. This has ultimately propelled the heavy commercial vehicle market. North America and Europe shows an exponential growth in the automotive double wishbone suspension market. The high growth of commercial vehicles in North America is the foremost reason which is creating high demand for active suspension systems in automobiles. Whereas, the presence of high performance vehicles manufacturers are creating greater opportunities for automotive double wishbone suspension systems in this region.
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Segmentation
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- Ongoing
- 2023
- 2019-2022
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