The new report published by Stratview Research, titled Automotive Composite Suspension Components Market, is Segmented by Component Type (Leaf Spring, Coil Spring, Suspension Arm, Stabilizer Bar, and Others), by Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Duty Commercial Vehicle, and Others), by Manufacturing Process Type (Compression Molding, HP-RTM, Prepreg Layup, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Market Insights:

The automotive composite suspension components market is still at a nascent stage but possesses significant growth potential over the next five years to reach US$ 100 million in 2023.

Organic growth of automobile production, growing preference for composite components in passenger and light commercial vehicles, development of new composite suspension applications, advancement in composites technology, and stringent government regulations regarding fuel efficiency and carbon emission reductions are the major factors that are burgeoning the demand for composite suspension components in the automotive industry.

Composite suspension components offer several benefits over steel components, such as lightweight, high durability, better vibration energy absorption, and excellent fatigue resistance. For example, composite leaf spring is up to five times more durable than that similarly sized steel leaf springs at just 1/7th weight.

Segment Analysis

The automotive composite suspension components market is segmented based on component type as Leaf Spring, Coil Spring, Suspension Arm, Stabilizer Bar, and Other Components. Composite leaf spring is expected to remain the largest segment of the market during the forecast period. Composite leaf springs are mainly used in passenger cars and light commercial vehicles. Pickup, Van, and SUVs are the major vehicle types that are using composite leaf springs on either transversal or longitudinal positions depending on requirements, vehicle design, etc. All the major OEMs are evaluating the usage of composite leaf springs in their major Pickup, VAN, and SUV models.

Based on the vehicle type, the market is segmented as passenger car, light commercial vehicle (LCV), medium & heavy-duty commercial vehicle (M&HCV), and others. LCV currently dominates the automotive composite suspension components market because of the higher usage of composite leaf springs in LCVs. The passenger car segment is projected to witness the highest growth during the forecast period, driven by increasing usage of leaf springs and coil springs.

Based on regions, Europe is expected to remain the largest market for composite suspension components in the automotive industry over the next five years, driven by higher usage of composite leaf springs in LCVs. North America and Asia-Pacific are likely to witness higher growth rates over the next five years, driven by a host of factors including a gradual shift of assembly plants of OEMs in these regions, increasing penetration of composite leaf springs, and market entry of local composite leaf spring manufacturers.

Research Methodology

This report offers actionable insights and is the outcome of an extensive study comprising of secondary research, primary interviews with industry stakeholders, validation and triangulation with Stratview Research’s internal database. Experts at Stratview Research have conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

The report also covers market structure, market environment analysis, market segment trends and forecasts, competitive landscape and dynamics, attractive market segments and associated growth opportunities, emerging trends, strategic growth opportunities for the existing and new players, and key success factors.   

Key Players

Some of the key players in the Automotive Composite Suspension Components Market mentioned in the report are -

  • Liteflex LLC
  • IFC Composite GmbH
  • Benteler-SGL
  • Sogefi Group

Key Insights Presented in the Report:

  • Market Drivers - After several interviews with the key players active in the Automotive Composite Suspension Components Market, the researchers have listed down few factors that have majorly affected the growth of the key players. This can assist the users in formulating their growth strategies accordingly.
  • Industry Life Cycle Analysis: The report consists of evolution of an industry or business based on its stages of growth and decline. The four phases of the industry life cycle that are covered in the study are the introduction, growth, maturity, and decline phases.
  • Market Attractiveness – Taking into account the market size, and growth rate, and the level of competition and other constraints, the report also is aided with market attractiveness.
  • Key success factors- KSFs refer to one of the crucial strategic tools. Correct understanding of the key success factors is a good base for a well-structured company differentiation. To help the user with proper development and execution of strategy.

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About Us

Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with insightful market data to aid strategic decision making. These exclusive reports are the result of extensive research and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.