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Motor Vehicle Steering and Suspension Components Global Market Report 2020

Starting Price : $ 4000.00 $3200.00 | Pages : 150 | Published : March 2020 | SKU CODE : 7358 | 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 consists of group of parts including 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 of 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 global motor vehicle steering and suspension components market was worth $153.02 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 9.54% and reach $220.33 billion by 2023.

The growth of 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 increases the rate at which they need to be replaced. According to the U.S National transportation research group (TRIP) in 2017, 71% of roads in the San Francisco-Oakland area were in poor condition, costing drivers an average of $1,049 in vehicle operating costs each year. The lack of standards for maintenance of roads resulting in rough roads with pot holes, increases the demand for motor vehicle steering and suspension components.

The growth for the motor vehicle steering and suspension components (except spring) market is restricted by the growing popularity of the 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 2018, there were 5 million electric passenger cars in Norway. The popularity of electric car market is backed up by several government initiatives such as 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 system 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 responds 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 responds 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 2018, SAF Holland, a German base provider of solutions for global commercial vehicle industry, acquired York Transport Equipment (Asia) for an amount of $52.6 million. Through the acquisition SAF Holland aims to increase its presence in the APAC (Asia-Pacific) region. York Transport Equipment is an Asia based manufacturer and distributor of trailer axles, assemble trailer suspension kits. It has a strong service and spare parts network in India and also has significant operations in other fast-growing Southeast Asian markets, such as Thailand, Indonesia and Vietnam besides Australia.

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

The major players in the global motor vehicle steering and suspension components market are Bosch, Hyundai, Tennaco, Denso, Hella, JTEKT, Knorr-Bremse, Nexteer Automotive, Thyssenkrupp, ZF Friedrichshafen, Magna International Inc., Aisin Group, Continental Automotive Systems Corporation, Asama Coldwater Manufacturing, Global Steering Systems, Maval Industries, American Showa, Atsco Remanufacturing, KYB Americas Corporation, Raytech Powertrain, NSK Americas, San-Ei Seiko America, Hutchinson Aerospace & Industry, Yamada North America, Fox Factory, NSK Steering Systems America, Key Electronics of Nevada, Key Safety Restraint Systems, Reman Gotec Plus Sun,

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

    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, 2015 - 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, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    Steering components

    Suspension components

    4.2. Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    Commercial Vehicle

    Passenger Car

    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, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    5.2. Global Motor Vehicle Steering and Suspension Components Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F,$ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, $ Billion
  • Table 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 3: Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 4: Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 5: Global Motor Vehicle Steering and Suspension Components Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 6: Global Motor Vehicle Steering and Suspension Components Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 7: Asia-Pacific, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 8: China, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 9: India, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 10: Japan, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 11: Australia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 12: Indonesia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 13: South Korea, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 14: Western Europe, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 15: UK, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 16: Germany, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 17: France, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 18: Eastern Europe, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 19: Russia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 20: North America, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 21: USA, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 22: South America, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 23: Brazil, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 24: Middle East, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 25: Africa, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ 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, 2015-2019, $ Billion
  • Figure 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 3: Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 4: Global Motor Vehicle Steering and Suspension Components Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 5: Global Motor Vehicle Steering and Suspension Components Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 6: Global Motor Vehicle Steering and Suspension Components Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 7: Asia-Pacific, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 8: China, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 9: India, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 10: Japan, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 11: Australia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 12: Indonesia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 13: South Korea, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 14: Western Europe, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 15: UK, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 16: Germany, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 17: France, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 18: Eastern Europe, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 19: Russia, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 20: North America, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 21: USA, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 22: South America, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 23: Brazil, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 24: Middle East, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 25: Africa, Motor Vehicle Steering and Suspension Components Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 26: Bosch Financial Performance
  • Figure 27: Hyundai Financial Performance
  • Figure 28: Tennaco Financial Performance
  • Figure 29: Denso Financial Performance
  • Figure 30: Hella Financial Performance
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