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Motor Vehicle Steering And Suspension Components Global Market Report 2022 – By Type (Steering Components, Suspension Components), By Application (Commercial Vehicle, Passenger Car), By End Use (OEM, Aftermarket) – Market Size, Trends, And Global Forecast 2022-2026

Starting Price : $4000.00 | Pages : 200 | Published : September 2022 | SKU CODE : 7358 | Delivery Time: 2-3 business days | Format :


The motor vehicle steering and suspension components market consists of sales of motor vehicle steering and suspension components (except spring) and related services which are used for keeping the wheels of the motor vehicle firmly intact with the ground. Motor vehicle steering components consist of a group of parts including the steering wheel, steering column, and shaft, tie rods, and steering arms used to transmit the movement of the steering wheel to the wheels, enabling the right and left movement of the wheel. The suspension components comprise tires, the air in the tires, shock absorbers, struts, arms, bars, linkages, bushings, and joints used to connect the vehicle to its wheels to allow relative motion between the two. The suspension components of a motor vehicle provide support to the vehicle, absorb bumps and other shocks, and allow the vehicle to turn in response to steering input from the driver.

The main types of motor vehicle steering and suspension components are steering components and suspension components. Steering components refer to a system of components, linkages, etc. that will allow a vehicle to follow the desired course. The applications included are commercial vehicles and passenger cars. The end-users involved are OEM and aftermarket.

The motor vehicle steering and suspension components market research report is one of a series of new reports from The Business Research Company that provides motor vehicle steering and suspension components market statistics, including motor vehicle steering and suspension components industry global market size, regional shares, competitors with a motor vehicle steering and suspension components market share, detailed motor vehicle steering and suspension components market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle steering and suspension components industry. This motor vehicle steering and suspension components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The global motor vehicle steering and suspension components (except spring) market grew from $81.61 billion in 2021 to $88.91 billion in 2022 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The motor vehicle steering and suspension components (except spring) market is expected to grow to $119.31 billion in 2026 at a CAGR of 7.6%.

The growth of the motor vehicle steering and suspension components market (except springs) is positively affected by the poor quality of roads. The steering and suspension components are used to maintain the stability of the motor vehicle on rough roads. Rough roads with potholes and poor surfaces cause wear and tear of steering and suspension components in the long run, thus increasing the risk of accidents. This constant wear and tear shortens their working life and increases the rate at which they need to be replaced. According to the World Highways data 2019, India's road network is the second largest after the United States of America. But one of the striking underlying facts is the condition of the roads. Around 30 percent of the country’s population lacked access to all-wealth. The lack of standards for maintenance of roads, resulting in rough roads with potholes, increases the demand for motor vehicle steering and suspension components.

The growth of the motor vehicle steering and suspension components (except springs) market is restricted by the growing popularity of electric vehicles all over the world. The increased popularity of electric vehicles will require the motor vehicle steering and suspension system manufacturers to produce power steering and suspension systems specifically designed for the new electric vehicles. thereby reducing the demand for motor power steering systems and suspension parts. The manufacturers will have to adapt and compete to create the parts used in driverless vehicle models. According to the International Energy Agency (IEA), in 2021, more than 10 million electric cars will be on the world’s roads in 2020, with battery-electric models driving the expansion. The popularity of the electric car market is backed up by several government initiatives, such as in Norway, where the drivers of zero-emissions cars are not only exempted from road tax but also exempted from 25% VAT on sales, reduced road and ferry tolls, and parking costs, and access to bus lanes. The overall cost of adapting to the changing demand due to the growing popularity of electric vehicles restricts the growth of the motor vehicle steering and suspension components (except springs) market.

The latest trend in the industry is the development of suspension systems using the new magnetic ride control (MRC or MagneRide) technology developed by General Motors (GM). The magnetic damper technology improves the performance of the suspension system and provides a smooth driving experience. The technology uses a fluid infused with magnetised particles acting as electronically-controlled shock absorbers, which respond to changing driving conditions and speed in real-time, making the shock absorbers adapt to the changing terrain. Such absorbers, along with the automobile sensors, respond to the terrain every five milliseconds. Following the trend started by General Motors, BeijingWest Industries (BWI) Group opened a new plant in Greenfield, Indiana, in 2019, from which the company will launch the fourth generation of the MagneRide suspension technology. The China-based BeijingWest Industries (BWI) Group is a supplier of brake and suspension systems.

In June 2020, Bendix Corporation, an American manufacturing and engineering company, acquired RH Sheppard for $149.5 million. The acquisition of RH Sheppard was transacted by Bendix Commercial Vehicle Systems LLC, Elyria, OH, which is a subsidiary of Knorr-Bremse that is part of its Commercial Vehicle Systems division. Through this acquisition, Knorr-Bremse became a leading global supplier of commercial vehicle steering systems. RH Sheppard is a USA-based company that designs and manufactures automotive products.

Major players in the motor vehicle steering and suspension components market are Bosch, Hyundai, Tennaco, Denso, Hella, JTEKT, Knorr-Bremse, Nexteer Automotive, Thyssenkrupp, and ZF Friedrichshafen.

Asia Pacific was the largest region in the motor vehicle steering and suspension component market in 2021. Western Europe was the second largest market in motor vehicle steering and suspension component market. The regions covered in the motor vehicle steering and suspension components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the motor vehicle steering and suspension components market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia.

The global motor vehicle steering and suspension components market is segmented -

1) By Type: Steering Components, Suspension Components

2) By Application: Commercial Vehicle, Passenger Car

3) By End Use: OEM, Aftermarket

    Table Of Contents

    1. Executive Summary

    2. Motor Vehicle Steering and Suspension Components Market Characteristics

    3. Motor Vehicle Steering and Suspension Components Market – Macro Economic Scenario

    3.1 COVID-19 Impact On Motor Vehicle Steering and Suspension Components Market

    3.2 Ukraine-Russia War Impact On Motor Vehicle Steering and Suspension Components Market

    3.3 Impact Of High Inflation On Motor Vehicle Steering and Suspension Components Market

    4. Motor Vehicle Steering and Suspension Components Market Size And Growth

    4.1. Global Motor Vehicle Steering and Suspension Components Historic Market, 2016-2021, $ Billion

    4.1.1. Drivers Of The Market

    4.1.2. Restraints On The Market

    4.2. Global Motor Vehicle Steering and Suspension Components Forecast Market, 2021-2026F, 2026F, 2031F, $ Billion

    4.2.1. Drivers Of The Market

    4.2.2. Restraints On the Market

    5. Motor Vehicle Steering and Suspension Components Market Segmentation

    5.1. Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    Steering components

    Suspension components

    5.2. Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Application, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    Commercial Vehicle

    Passenger Car

    5.3. Global Motor Vehicle Steering and Suspension Components Market, Segmentation By End-use, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    OEM

    Aftermarket

    6. Motor Vehicle Steering and Suspension Components Market Regional And Country Analysis

    6.1. Global Motor Vehicle Steering and Suspension Components Market, Split By Region, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    6.2. Global Motor Vehicle Steering and Suspension Components Market, Split By Country, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    7. Asia-Pacific Motor Vehicle Steering and Suspension Components Market

    7.1. Asia-Pacific Motor Vehicle Steering and Suspension Components Market Overview

    7.2. Asia-Pacific Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    8. China Motor Vehicle Steering and Suspension Components Market

    8.1. China Motor Vehicle Steering and Suspension Components Market Overview

    8.2. China Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F,$ Billion

    9. India Motor Vehicle Steering and Suspension Components Market

    9.1. India Motor Vehicle Steering and Suspension Components Market Overview

    9.2. India Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    10. Japan Motor Vehicle Steering and Suspension Components Market

    10.1. Japan Motor Vehicle Steering and Suspension Components Market Overview

    10.2. Japan Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    11. Australia Motor Vehicle Steering and Suspension Components Market

    11.1. Australia Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    12. Indonesia Motor Vehicle Steering and Suspension Components Market

    12.1. Indonesia Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    13. South Korea Motor Vehicle Steering and Suspension Components Market

    13.1. South Korea Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    14. Western Europe Motor Vehicle Steering and Suspension Components Market

    14.1. Western Europe Motor Vehicle Steering and Suspension Components Market Overview

    14.2. Western Europe Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    15. UK Motor Vehicle Steering and Suspension Components Market

    15.1. UK Motor Vehicle Steering and Suspension Components Market Overview

    15.2. UK Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    16. Germany Motor Vehicle Steering and Suspension Components Market

    16.1. Germany Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    17. France Motor Vehicle Steering and Suspension Components Market

    17.3. France Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    18. Eastern Europe Motor Vehicle Steering and Suspension Components Market

    18.1. Eastern Europe Motor Vehicle Steering and Suspension Components Market Overview

    18.2. Eastern Europe Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    19. Russia Motor Vehicle Steering and Suspension Components Market

    19.1. Russia Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    20. North America Motor Vehicle Steering and Suspension Components Market

    20.1. North America Motor Vehicle Steering and Suspension Components Market Overview

    20.2. North America Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    21. USA Motor Vehicle Steering and Suspension Components Market

    21.1. USA Motor Vehicle Steering and Suspension Components Market Overview

    21.2. USA Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    22. South America Motor Vehicle Steering and Suspension Components Market

    22.1. South America Motor Vehicle Steering and Suspension Components Market Overview

    22.2. South America Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    23. Brazil Motor Vehicle Steering and Suspension Components Market

    23.1. Brazil Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    24. Middle East Motor Vehicle Steering and Suspension Components Market

    24.1. Middle East Motor Vehicle Steering and Suspension Components Market Overview

    24.2. Middle East Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    25. Africa Motor Vehicle Steering and Suspension Components Market

    25.1. Africa Motor Vehicle Steering and Suspension Components Market Overview

    25.2. Africa Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion

    26. Motor Vehicle Steering and Suspension Components Market Competitive Landscape And Company Profiles

    26.1. Motor Vehicle Steering and Suspension Components Market Competitive Landscape

    26.2. Motor Vehicle Steering and Suspension Components Market Company Profiles

    26.2.1. Bosch

    26.2.1.1. Overview

    26.2.1.2. Products and Services

    26.2.1.3. Strategy

    26.2.1.4. Financial Performance

    26.2.2. Hyundai

    26.2.2.1. Overview

    26.2.2.2. Products and Services

    26.2.2.3. Strategy

    26.2.2.4. Financial Performance

    26.2.3. Tennaco

    26.2.3.1. Overview

    26.2.3.2. Products and Services

    26.2.3.3. Strategy

    26.2.3.4. Financial Performance

    26.2.4. Denso

    26.2.4.1. Overview

    26.2.4.2. Products and Services

    26.2.4.3. Strategy

    26.2.4.4. Financial Performance

    26.2.5. Hella

    26.2.5.1. Overview

    26.2.5.2. Products and Services

    26.2.5.3. Strategy

    26.2.5.4. Financial Performance

    27. Key Mergers And Acquisitions In The Motor Vehicle Steering and Suspension Components Market

    28. Motor Vehicle Steering and Suspension Components Market Trends And Strategies

    29. Motor Vehicle Steering and Suspension Components Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2016-2019, $ Billion
  • Table 2: Global Forecast Market Growth, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 3: Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 4: Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Application, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 5: Global Motor Vehicle Steering and Suspension Components Market, Split By Region, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 6: Global Motor Vehicle Steering and Suspension Components Market, Split By Country, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 7: Asia-Pacific, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 8: China, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 9: India, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 10: Japan, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 11: Australia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 12: Indonesia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 13: South Korea, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 14: Western Europe, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 15: UK, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 16: Germany, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 17: France, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 18: Eastern Europe, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 19: Russia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 20: North America, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 21: USA, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 22: South America, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 23: Brazil, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 24: Middle East, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 25: Africa, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Table 26: Bosch Financial Performance
  • Table 27: Hyundai Financial Performance
  • Table 28: Tennaco Financial Performance
  • Table 29: Denso Financial Performance
  • Table 30: Hella Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2016-2019, $ Billion
  • Figure 2: Global Forecast Market Growth, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 3: Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 4: Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Application, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 5: Global Motor Vehicle Steering and Suspension Components Market, Segmentation By End Use, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 6: Global Motor Vehicle Steering and Suspension Components Market, Split By Region, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 7: Global Motor Vehicle Steering and Suspension Components Market, Split By Country, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 8: Asia-Pacific, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 9: China, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 10: India, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 11: Japan, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 12: Australia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 13: Indonesia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 14: South Korea, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 15: Western Europe, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 16: UK, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 17: Germany, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 18: France, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 19: Eastern Europe, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 20: Russia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 21: North America, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 22: USA, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 23: South America, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 24: Brazil, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 25: Middle East, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 26: Africa, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2021 , 2026F, 2031F, $ Billion
  • Figure 27: Bosch Financial Performance
  • Figure 28: Hyundai Financial Performance
  • Figure 29: Tennaco Financial Performance
  • Figure 30: Denso Financial Performance
  • Figure 31: Hella Financial Performance
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