Europe Suspension Market

The increasing competition between the emerging countries like that of Brazil, India, China and Russia and also the financial crisis of 2009, the European region has seen a drop in revenue since past couple of years. Although, European Union has forecasted that the region will come back from recession and observe positive growth by the year 2014-2015.

Due to the intense competition between the automobile OEMs in the region, each manufacturer has resorted to different technological solutions, which differentiate their vehicle models from their competitors. Also, the strict fuel economy and CO₂ emission regulations prevailing in the region have been a driving factor to develop technological solutions, which make the vehicle light, efficient, high on performance, and in turn saving fuel and reducing emission. The suspension system in a vehicle is a point of concern as it forms a key part of the vehicles’ chassis, as it provides comfort to the occupants and at the same time protects all the components of the vehicle from jerks caused due to uneven road conditions. To meet the required suspension standards and to abide by the government regulations, advanced technologies are being implemented in the suspension systems used in vehicles produced in the region to help minimize the discomfort, lower the vehicle weight , increase suspension efficiency and eventually the fuel economy of the vehicle. Due to these factors, the demand for such advanced suspension system technologies would be higher in Europe as compared to other regions in the coming five years.

One of the major restraints for the suspension systems market in the European region is the high cost of the independent systems. These suspension systems are widely used in the premium passenger cars and heavy commercial vehicles as they are high in performance and provide better stability and control. But since these suspensions are quite expensive than the other suspension systems in the region, they are not used in the low end passenger cars and light commercial vehicles which constitute more than 85% of the total vehicle market.

The European suspension systems market was valued at $12.55 billion in 2013, to grow at 2.8% annually. It is projected to reach $14.44 billion by the end of 2018.

It is segmented on the basis of applications and geography.

Key question answered

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

Audience for this report

• European 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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