Asia and Oceania Suspension Market

The vehicle production in regions like Europe and North America have fallen due to the financial crisis and due to this most of the major automobile manufacturers have shifted their production facilities to emerging countries. Factors such as increasing population, government policies, and growing economies in the Asia-Oceania region have made it a promising destination for the automobile manufactures to set up manufacturing plants. These factors have also helped the emerging countries like China and India to meet their growing demand with increasing production levels making Asia-Oceania the leader in vehicle production with increasing sales.

Other factors such as growing urbanization, improved living condition and higher disposable income also play an essential role in the increasing vehicle production. The demand for the suspension systems is co-related with the production and the demand for automobiles and hence most of the major suspension systems manufactures have also shifted their focus on these emerging markets, making this region the leading market for automobile suspension systems as well.

The major restraint for the automobile suspension systems market in Asia-Oceania region is the lack implementation of technologies, high investment cost for setting up new plants, and creating a value/supply chain between the raw material provider and manufacturers. The different laws and regulation pertaining to environment in the region are not as strict as they are in developed regions and are not that clear, hence making it a difficult task for the authorities to set up or amend the current environmental laws in this region.

China has been the highest automobile producer in the world and is the largest market in terms of volume. Suspension system manufacturers in China have expanded their facilities or formed joint ventures in China to fulfil the demand. The Chinese government has helped to boost the automotive industry by introducing subsidies and promoting industrialization. Japan is the second largest market for automobile suspension systems in the region due to its high production and technological prowess. Following China and Japan, other emerging automotive suspensions markets are South Korea and India which are the third and fourth largest markets in the region due to the growing demand from the buyers’ for better ride control and improved fuel efficiency.

The Asia-Oceania Suspension systems market was valued at $23.55 billion in 2013, and expected to grow at 7.1% annually. It is projected to reach $33.14 billion by the end of 2018.

Key question answered

• What are the market estimates and forecasts for the Asia-Oceania suspension systems?
• What are the trends based on the key countries of the region?
• Identification of market dynamics and impact of the same on Asia-Oceania suspension systems market
• Analysis of recent developments, alliances, joint ventures, and mergers & acquisitions in the suspension systems market in Asia-Oceania region

Audience for this report

• Asia-Oceania Suspension systems manufacturers
• Suppliers for suspension systems manufacturers
• Traders, distributors, and suppliers in the  suspension systems market
• Automobile associations
• Automotive industry as end user industry

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