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 : March 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, 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 supports to the vehicle, absorb bumps and other shocks and allow the vehicle to turn in response to steering input from the drive.

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 global motor vehicle steering and suspension components market size is expected to grow from $138.22 billion in 2021 to $154.98 billion in 2022 at a compound annual growth rate (CAGR) of 12.1%. The global motor vehicle steering and suspension component market size is expected to grow to $196.04 billion in 2026 at a CAGR of 6.1%.

The growth of the motor vehicle steering and suspension components market (except spring) is positively affected by the poor quality of roads. The steering and suspension components are used to maintain the stability of the motor vehicle through the rough roads. Rough roads with potholes and poor surface causes wear and tear of steering and suspension components in the long run thus increasing the risk of accidents. This constant wear and tear shorten their working life and increase the rate at which they need to be replaced. According to the World Highways data 2019, India's road network is gigantic 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 spring) 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. Thus, 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 were 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 in Norway, 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 for 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 spring) 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 magnetized 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, 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 the global motor vehicle steering and suspension component market. The regions covered in the global motor vehicle steering and suspension 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 Size And Growth

    3.1. Global Motor Vehicle Steering and Suspension Components Historic Market, 2016 - 2019, $ Billion

    3.1.1. Drivers Of The Market

    3.1.2. Restraints On The Market

    3.2. Global Motor Vehicle Steering and Suspension Components Forecast Market, 2019 - 2023F, 2026F, 2031F, $ Billion

    3.2.1. Drivers Of The Market

    3.2.2. Restraints On the Market

    4. Motor Vehicle Steering and Suspension Components Market Segmentation

    4.1. Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    Steering components

    Suspension components

    4.2. Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Application, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    Commercial Vehicle

    Passenger Car

    4.3. Global Motor Vehicle Steering and Suspension Components Market, Segmentation By End-use, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    OEM

    Aftermarket

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

    5.1. Global Motor Vehicle Steering and Suspension Components Market, Split By Region, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    5.2. Global Motor Vehicle Steering and Suspension Components Market, Split By Country, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

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

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

    6.2. Asia-Pacific Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    7. China Motor Vehicle Steering and Suspension Components Market

    7.1. China Motor Vehicle Steering and Suspension Components Market Overview

    7.2. China Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F,$ Billion

    8. India Motor Vehicle Steering and Suspension Components Market

    8.1. India Motor Vehicle Steering and Suspension Components Market Overview

    8.2. India Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    9. Japan Motor Vehicle Steering and Suspension Components Market

    9.1. Japan Motor Vehicle Steering and Suspension Components Market Overview

    9.2. Japan Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    10. Australia Motor Vehicle Steering and Suspension Components Market

    10.1. Australia Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    11. Indonesia Motor Vehicle Steering and Suspension Components Market

    11.1. Indonesia Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    12. South Korea Motor Vehicle Steering and Suspension Components Market

    12.1. South Korea Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    13. Western Europe Motor Vehicle Steering and Suspension Components Market

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

    13.2. Western Europe Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    14. UK Motor Vehicle Steering and Suspension Components Market

    14.1. UK Motor Vehicle Steering and Suspension Components Market Overview

    14.2. UK Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    15. Germany Motor Vehicle Steering and Suspension Components Market

    15.1. Germany Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    16. France Motor Vehicle Steering and Suspension Components Market

    16.3. France Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    17. Eastern Europe Motor Vehicle Steering and Suspension Components Market

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

    17.2. Eastern Europe Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    18. Russia Motor Vehicle Steering and Suspension Components Market

    18.1. Russia Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    19. North America Motor Vehicle Steering and Suspension Components Market

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

    19.2. North America Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    20. USA Motor Vehicle Steering and Suspension Components Market

    20.1. USA Motor Vehicle Steering and Suspension Components Market Overview

    20.2. USA Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    21. South America Motor Vehicle Steering and Suspension Components Market

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

    21.2. South America Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    22. Brazil Motor Vehicle Steering and Suspension Components Market

    22.1. Brazil Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    23. Middle East Motor Vehicle Steering and Suspension Components Market

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

    23.2. Middle East Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

    24. Africa Motor Vehicle Steering and Suspension Components Market

    24.1. Africa Motor Vehicle Steering and Suspension Components Market Overview

    24.2. Africa Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion

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

    25.1. Motor Vehicle Steering and Suspension Components Market Competitive Landscape

    25.2. Motor Vehicle Steering and Suspension Components Market Company Profiles

    25.2.1. Bosch

    25.2.1.1. Overview

    25.2.1.2. Products and Services

    25.2.1.3. Strategy

    25.2.1.4. Financial Performance

    25.2.2. Hyundai

    25.2.2.1. Overview

    25.2.2.2. Products and Services

    25.2.2.3. Strategy

    25.2.2.4. Financial Performance

    25.2.3. Tennaco

    25.2.3.1. Overview

    25.2.3.2. Products and Services

    25.2.3.3. Strategy

    25.2.3.4. Financial Performance

    25.2.4. Denso

    25.2.4.1. Overview

    25.2.4.2. Products and Services

    25.2.4.3. Strategy

    25.2.4.4. Financial Performance

    25.2.5. Hella

    25.2.5.1. Overview

    25.2.5.2. Products and Services

    25.2.5.3. Strategy

    25.2.5.4. Financial Performance

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

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

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

    29. Appendix

    29.1. Abbreviations

    29.2. Currencies

    29.3. Research Inquiries

    29.4. The Business Research Company

    29.5. Copyright And Disclaimer

    "

List Of Tables

    Table 1: Global Historic Market Growth, 2016-2019, $ Billion
  • Table 2: Global Forecast Market Growth, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 3: Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 4: Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Application, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 5: Global Motor Vehicle Steering and Suspension Components Market, Split By Region, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 6: Global Motor Vehicle Steering and Suspension Components Market, Split By Country, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 7: Asia-Pacific, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 8: China, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 9: India, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 10: Japan, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 11: Australia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 12: Indonesia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 13: South Korea, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 14: Western Europe, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 15: UK, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 16: Germany, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 17: France, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 18: Eastern Europe, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 19: Russia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 20: North America, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 21: USA, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 22: South America, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 23: Brazil, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 24: Middle East, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Table 25: Africa, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 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, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 3: Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 4: Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Application, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 5: Global Motor Vehicle Steering and Suspension Components Market, Segmentation By End-Use, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 6: Global Motor Vehicle Steering and Suspension Components Market, Split By Region, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 7: Global Motor Vehicle Steering and Suspension Components Market, Split By Country, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 8: Asia-Pacific, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 9: China, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 10: India, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 11: Japan, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 12: Australia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 13: Indonesia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 14: South Korea, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 15: Western Europe, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 16: UK, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 17: Germany, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 18: France, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 19: Eastern Europe, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 20: Russia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 21: North America, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 22: USA, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 23: South America, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 24: Brazil, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 25: Middle East, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 2026F, 2031F, $ Billion
  • Figure 26: Africa, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2016-2019, 2023F, 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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