Automotive Suspension Market: Key Highlights
Automotive Suspension Market: Key Market Dynamics
Automotive Suspension Market: Regional Overview
The growth in the Asia-Pacific region is attributed to the high production and sales of automobiles owing to rising per capita income of consumers and the adoption of premium and smart vehicles, that will penetrate the high usage of the automotive suspension. The government regulations for lightweight vehicles have led to advancements in technology for manufacturing lightweight and durable products in this region. Furthermore, country like India, Thailand, and China hold the largest automobile share in this region which is expected to boost the growth for the automotive suspension market.
Europe holds the major share for automotive suspension market due to the increasing vehicle production, technological advancements for electric vehicles suspension system, and customers’ preference towards SUVs and premium vehicles have resulted in the boost for automotive suspension market growth. Moreover, Germany and France are the leading countries for automobile production which directly propels the automotive suspension market growth in this region.
Automotive Suspension Market: Key Players Overview
ZF Friedrichshafen AG is a German-based company that provides automotive components. The company offers systems for passenger cars, commercial vehicles, and industrial technology. In June 2019, the company announced plans to acquire all outstanding shares of WABCO for USD 136.50 per share in cash. This merger will combine technologies involved in vehicle active air suspension systems, dynamics control, and fleet management systems in mobility technologies for cars and commercial vehicles,
Tenneco Inc. is a US-based company that manufactures and designs products include performance exhaust products, shocks and struts, shock absorbers, as well as noise, vibration, and harshness control components. In January 2019, the company acquired Öhlins Racing A.B. company that develops premium suspension systems and components for the automotive and motorsport industries. This acquisition will strengthen better position of Tenneco in intelligent suspension, autonomous driving and mobility.
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