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What are some of the key factors affecting the growth in automotive suspension strut mounts market?
Changing economic dynamics and rising disposable income in Asia Pacific excluding Japan regions is expected to drive demand in the global automotive suspension strut mounts market in the coming years. In addition, rising investments by key manufacturers operating in this market is considered another significant factors driving growth in this market. Rising demand for highly comfortable and luxury vehicles is also create a positive impact on this market in the coming years. Adding further, growing demand for sports cars across the globe has led the demand for advanced suspension control systems. India and China are the two major countries that have benefitted this market in terms of volume. In developing countries in this region there is a high demand for light weight automotive suspension. Moreover, car manufactures in regions like North America, Europe, and Japan are concentrating on installing advanced technologies in suspension system.
On the other hand, ongoing phase of global vehicle standard upgrades and soaring cost associated with the maintenance of suspension systems are the main factors that might deter demand in this market. Nevertheless, the impact will remain low due to the driving forces operating in the automotive suspension strut mounts market. In addition, rising demand for comfortable driving is also expected to fuel demand in this market.
Automotive Suspension Strut Mounts Market: Introduction
Automotive Suspension Strut Mounts are a critical component in a vehicle’s suspension system and serve as the mounting point for strut assemblies for attaining efficient connection with the chassis. The independent four-wheeler suspension comprises four strut mounts -- two in the front of the vehicle and two in the rear. Automotive Suspension Strut Mounts maintain vehicle balance and reduce clanking sound generated due to the movement of the vehicle. These mounts also help in improving steering response as well as maintaining shorter stopping distances. Automotive Suspension Strut Mounts allow automotive manufacturers to achieve better handling capability and ride comfort by maintaining the alignment of the tires perpendicular to the road surface, ultimately playing a key role in providing better movement control. Air suspension systems were earlier installed in luxury and commercial vehicles, such as buses, a trend applicable across the globe. However, with drive comfort becoming a major concern among vehicle buyers, the demand for Automotive Suspension Strut Mounts is expected to get boosted across all parts of the globe.
Automotive Suspension Strut Mounts Market: Drivers and Restraints
The demand for light weight automotive suspensions and positive automotive industry outlook across major countries of the world will be two of the major driving forces in the market during the forecast period. In addition, economic reforms coupled with rising disposable income in the Asia Pacific excluding Japan and rising investments by automotive suspension system manufacturers indicate notable revenue generation opportunities in the coming years. Moreover, increasing demand for high comfort and luxury in vehicles will also create a positive impact in the coming years. Developing economies in the Asia Pacific region, such as China and India, are the most attractive markets in terms of volume. Furthermore, car manufacturers in Europe, North America and Japan are focusing on installing advanced technologies in suspension systems. Growing demand for sports cars, globally, will directly drive the demand for Automotive Suspension Strut Mounts for advanced suspension control systems in the upcoming years. The continuous phase of global vehicle standard upgrades and high cost associated with the maintenance of suspension systems are major factors impeding the market growth. However, the impact will remain low, largely offset by the driving forces operating in the Automotive Suspension Strut Mounts market.
Automotive Suspension Strut Mounts Market: Segmentation
On the basis of type, the Automotive Suspension Strut Mounts market can be segmented into:
On the basis of fitment, the Automotive Suspension Strut Mounts market can be segmented into:
On the basis of vehicle type, the Automotive Suspension Strut Mounts market can be segmented into:
On the basis of sales channel, the Automotive Suspension Strut Mounts market can be segmented into:
Automotive Suspension Strut Mounts Market: Region-Wise Outlook
The global Automotive Suspension Strut Mounts market is segmented into seven key regions: North America, Latin America, Western Europe and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). In the coming years, Western Europe, Japan and North America are expected to register growth due to new standards set by government authorities regarding suspension systems and growing preference among end users for better comfort and performance. The APEJ is expected to witness major growth due to rising automobile production in developing countries, such as China and India. Adding to this, MEA, Latin America and Eastern Europe are also expected to register healthy CAGR over the forecast period.
Automotive Suspension Strut Mounts Market: Market Participants
Examples of some of the market participants identified across the value chain of the global Automotive Suspension Strut Mounts market include:
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