Strut forms an essential part of the suspension system in a vehicle. It is attached to the front wheels and is used to absorb road shock for a smooth riding experience. Strut assembly mainly consists of spring and shock absorbers. As the demand for luxury vehicles and enhanced driving experience is rising, the need for strut in cars is expanding. The high production of vehicles and increasing automotive sales create a favorable landscape for the players operating in the automotive strut market during the forecast period.
MARKET DYNAMICS
The automotive strut market is projected to experience high growth on account of an increase in the sale of electric vehicles and the demand for suspension systems in heavy commercial vehicles. Moreover, demand for comfort and safety is further expected to propel the market growth. However, high development and adoption costs may hamper the growth of the automotive strut market during the forecast period. Nevertheless, the use of lightweight material is expected to showcase symbolic growth prospects for the automotive strut market in the coming years.
MARKET SCOPE
The "Global Automotive Strut Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of automotive strut market with detailed market segmentation by material, vehicle type, and geography. The global automotive strut market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading automotive strut market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global automotive strut market is segmented on the basis of material and vehicle type. Based on material, the market is segmented as aluminum, steel, and FRP. On the basis of the vehicle type, the market is segmented as passenger cars and commercial vehicles.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global automotive strut market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The automotive strut market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting automotive strut market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the automotive strut market in these regions.
MARKET PLAYERS
The reports cover key developments in the automotive strut market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from automotive strut market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive strut in the global market. Below mentioned is the list of few companies engaged in the automotive strut market.
The report also includes the profiles of key automotive strut companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- Hitachi Automotive Systems Americas, Inc.
- KONI BV (ITT Inc)
- KYB Corporation
- Magneti Marelli S.p.A.
- Ride Control, LLC
- SUSPA GmbH
- Tenneco Inc.
- thyssenkrupp Bilstein GmbH
- VIEROL AG
- ZF Friedrichshafen AG
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.