Persistence Market Research
Global Suspension Arm Market: Overview
The suspension system functions to reduce and prevent the road shocks and thereby deliver smooth drive experience. Suspension arm also called as wishbone suspension or track control arm are attached to the chassis of the vehicle and the wheels via the ball joint. The suspension arm is important in steering and change of direction while driving as they absorb the forces of road acting on the wheels. The suspension arm, when damaged, can lead to premature wear of the tire, brake pad, and shock absorbers. The damage of all these components can lead to loss of control and reduced traction. The suspension arm is manufactured by tough material such as cast iron, pressed steel or aluminum of high quality. These material used for manufacture of suspension arm is often surface treated, a most common use of cataphoresis electrostatic coating to make them rust resistant. The global suspension arm market is expected to expand at a significantly high rate during the forecast period with robust growth centered mostly in Asia Pacific region.
Global Suspension Arm Market: Drivers and Restraints
The global suspension arm market is driven by the growth of the auto component industries globally. The strict regulations for the fuel economy propel the automaker to upgrade the automotive features which aid in the increase of suspension arm sales. Further, the factors such as anti-corrosive, quick and easy to fit, highly reliable features drive the global suspension arm market. The trend prevailing in the auto component industries is the increasing OEM tie-ups with the component manufacturers globally.
Global Suspension Arm Market: Segmentation
On the basis of vehicle type, suspension arm market can be segmented as follows:-
On the basis of suspension system type, the suspension arm market can be segmented as follows:-
On the basis of material type, suspension arm market can be segmented as follows:-
On the basis of distribution channel, suspension arm market can be segmented as follows:-
Global Suspension Arm Market: Region wise Outlook
The global suspension arm market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA). The suspension arm market in APEJ region is quite robust owing to the high market potential for growth of auto component industries. Moreover, the availability of labors, low-cost manufacturing in Asian countries such as China, India, South Korea, and Taiwan drives the suspension arm market in the region. Regarding the export rate, Western European countries dominate the auto components parts exporting worldwide. The suspension arm market in Japan and North America are expected to expand at moderate CAGR during the forecast period.
Global Suspension Arm Market: Key Players
Some of the key players identified in the global suspension arm market includes:
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