The global automotive
suspension market is foreseen to grow by 2.2%, from USD 47.85 Billion in 2022
to USD 56.95 Billion in 2030. Increased demand for SUVs, EVs, and luxury
vehicles globally, increased adoption of air suspension systems in buses and
trucks is to drive the market for the upcoming forecast period. However, lack
of standardization of independent suspension systems to hinder supply chain
streamlining remains one factor hindering the market growth over the
anticipated period.
Market Definition
What Is Automotive
Suspension?
The suspension system of a vehicle is crucial for its
safety, stability, and comfort. It is responsible for providing a smooth and
controlled ride by reducing the effects of bumps and vibrations on the vehicle.
Suspension systems are complex, and there are several types of suspensions used
in modern vehicles. In this essay, we will explore the different types of
automotive suspensions and their components, as well as the benefits and
drawbacks of each type.
Market Overview
Types of
Suspension Systems
There are
several types of suspension systems used in vehicles, including:
· Independent
suspension
· Dependent
suspension
· Semi-independent
suspension
· Independent
Suspension
Independent
suspension is a type of suspension system where each wheel of the vehicle is
mounted on its own suspension system. This type of suspension allows each wheel
to move independently of the others, which results in better handling and a
more comfortable ride. Independent suspension is typically found on high-end
sports cars, luxury vehicles, and some SUVs.
Dependent
Suspension
Dependent
suspension is a type of suspension system where the wheels of the vehicle are
connected to a single axle. This type of suspension is typically found in older
vehicles and some trucks. Dependent suspension is less expensive to manufacture
than independent suspension, but it does not provide the same level of handling
or comfort.
Semi-Independent
Suspension
Semi-independent
suspension is a type of suspension system that combines elements of both
independent and dependent suspension systems. In this type of suspension, each
wheel is connected to the vehicle through a separate suspension system, but the
systems are connected to a single axle. This type of suspension is typically
found in mid-range vehicles.
Components of
Suspension Systems
Regardless of
the type of suspension system used in a vehicle, there are several components
that are common to all suspension systems, including:
Springs:
Springs are the most important component of any suspension system. They absorb
shocks and vibrations and provide support for the vehicle's weight.
Shock
Absorbers: Shock absorbers work with the springs to reduce the effects of bumps
and vibrations on the vehicle. They help to keep the vehicle stable and prevent
excessive bouncing.
Struts: Struts
are similar to shock absorbers but are more complex. They are typically used in
front suspension systems and provide additional support and stability for the
vehicle.
Control Arms:
Control arms are used to connect the suspension system to the vehicle's
chassis. They allow the wheels to move up and down while keeping them in the
correct position.
Benefits and
Drawbacks of Different Suspension Systems
Each type of
suspension system has its own set of benefits and drawbacks. Independent
suspension provides the best handling and comfort, but it is also the most
expensive. Dependent suspension is less expensive but does not provide the same
level of comfort or handling. Semi-independent suspension is a good compromise
between the two, providing good handling and comfort at a lower cost.
Conclusion
The suspension
system is one of the most important components of a vehicle. It is responsible
for providing a smooth and controlled ride, as well as keeping the vehicle
stable and safe. There are several types of suspension systems used in modern
vehicles, each with its own set of benefits and drawbacks. Understanding the
different types of suspension systems and their components is essential for
maintaining a vehicle's safety and performance.
It is highly
probable that the gradual return of production volumes worldwide will be the
most significant factor to consider, as global vehicle sales steadily recover
from the impacts of the pandemic. As the various lockdowns are lifted,
challenges associated with the supply chain, labor availability, and
government-imposed preventive measures are expected to decrease. Under these
circumstances, the automotive suspension market is expected to experience
moderate effects and a stable growth trend.
Market Dynamics
of Automotive Suspension Market
The automotive
suspension market dynamics are influenced by various drivers and restraints.
The growing sales of SUVs and luxury vehicles are driving the demand for
advanced suspension systems, leading to an increase in the adoption of
independent suspensions. Independent suspensions offer more stability to
vehicles, and their weight is less, making them a preferred choice for heavy
vehicles. MacPherson strut is one of the most preferred front independent
suspensions in compact passenger cars due to its low manufacturing costs and
better stability. Double wishbone suspension, on the other hand, provides
superior comfort, dynamics, and road holding but is generally used in premium
models due to its high production cost.
Restraints in Automotive
Suspension Market
However, the
lack of standardization of independent suspension systems is a significant
restraint that is affecting the automotive suspension market. Standardization
of suspension systems with respect to vehicle type is expected to reduce
overall manufacturing costs and help Tier 1 and component manufacturers produce
suspension systems in large volumes. Manufacturers have to keep track of
preferences in different countries due to a lack of standardization to remain
competitive in the market. This volatility in the market affects component
suppliers as they are reliant on demand from Tier 1 suppliers, and
manufacturers face challenges in catering to diverse architecture demands of
different vehicle types. Therefore, the lack of standardization is a
significant restraint that is hindering the growth of the automotive suspension
market.
Opportunities
in Automotive Suspension Market
The ATV
suspension market is expected to experience growth due to the increase in off-road
recreational activities globally. These all-terrain vehicles are widely used
for off-road activities and are equipped with suspension systems, which is a
crucial component when navigating rugged terrains. The rise in GDP and
disposable incomes have resulted in increased spending on leisure activities,
which includes off-road activities involving ATVs. The tourism industry has
also seen an increase in revenue due to a 4% increase in tourist arrivals
globally in 2019, leading to a high demand for ATVs. Furthermore, off-road
competitions and championships involving ATVs, such as the World Off-Road
Championship Series (WORCS) held in the US, have increased the demand for these
vehicles.
Challenges in Automotive
Suspension Market
However, the
overall reduction of suspension weight remains a challenge for the industry.
The future of transportation is predicted to be dominated by autonomous,
connected, electric, and shared (ACES) vehicles, and lightweight vehicles are
essential for sustainable mobility, as they improve fuel consumption and reduce
CO2 emissions. Electrification of automotive vehicles presents an additional
challenge, as the batteries or added electrical components make the vehicles
heavier than conventional Internal Combustion Engine (ICE) vehicles. The weight
of EVs is typically 125% heavier than ICE equivalents, leading to an increased
emphasis on reducing overall vehicle weight to increase driving range from a
single battery charge. In this regard, lightweight suspension systems are essential.
However, there is a lack of alternative materials to replace the existing heavy
material components in suspension modules, especially in EVs, where the
requirement to accommodate a large and heavy battery pack at the bottom of the
vehicle is a key consideration. This has led the automotive industry back to
the design table for the frame arrangement for Battery Electric Vehicles
(BEVs), calling for alternative materials to replace heavy components.
The use of
composites as a substitute for parts traditionally made of steel is one of the
notable advancements in the field of automotive suspension. Carbon-fiber
reinforced plastics (CFRP) and Glass-fiber reinforced plastics (GFRP) are
particularly promising in reducing the weight of light-duty vehicles. In 2014,
Audi made a significant breakthrough by introducing GFRP suspension springs to
replace steel springs, resulting in a weight reduction of 2.5 kilograms per
spring and a 40% reduction compared to steel springs. Volvo also made a notable
advancement in 2015 by replacing the traditional steel springs with leaf
springs made of a glass-fiber reinforced composite material in their XC90
model, resulting in a weight reduction of 4.5 kilos. Nonetheless, any changes
in suspension design must adhere to existing and future crash safety
regulations, and cost-effective mass production remains a challenge due to the
limited options for material selection and the high cost of materials such as
carbon fiber.
One of the most
significant drivers of the automotive suspension market is the increasing
demand for improving ride quality and occupant comfort, particularly in
high-end luxury and sports cars, as well as some medium-range vehicles and a
few commercial vehicles, which predominantly use active suspension systems. Although
this system incurs high costs, it is the most advanced and comfortable
suspension system available. Various brands offer active suspension systems,
such as Magic Body Control by Mercedes-Benz, MagneRide by Delphi, and PASM
Porsche Active Suspension Management by Porsche. The demand for SUVs is
expected to increase by 3.3% annually from 2020 to 2022, with the Asia-Pacific
market showing the most significant growth in SUVs, accounting for 58.5% in
2021. Given the rise in demand for SUVs, the global demand for active
suspension is projected to increase, with Asia leading the market.
The MacPherson
strut suspension system is widely used by automotive original equipment
manufacturers (OEMs) globally, and is the preferred choice for front-wheel
suspension due to its cost-effectiveness and lightweight design. This
architecture eliminates the need for a separate upper control arm, making it a
preferred choice for compact passenger cars. The Asia Pacific region is
expected to hold the largest market share for the MacPherson strut suspension
system due to its high penetration rate in the front suspension, accounting for
approximately 70-75% of vehicles in the region. Models such as Toyota Camry,
Honda Accord, BMW X5, and Subaru XV among others are equipped with the front
axle MacPherson strut suspension.
The Asia
Pacific region has emerged as a hub for automotive production in recent years,
due to the increasing per capita income of the middle-class population,
changing consumer preferences, and cost advantages for OEMs. The region is
expected to dominate the global automotive suspension market, accounting for
the largest share of the market by value in 2022. The adoption of advanced
suspension systems such as multilink and air suspension systems in western countries
has increased demand for better comfort in passenger cars. However, due to
their high cost, these systems are still in their introductory phase in the
Asia Pacific region.
China is
expected to remain the largest market for automotive suspension systems in the
Asia Pacific region due to its large population and increasing demand for
passenger vehicles post-pandemic. On the other hand, India is expected to be
the fastest-growing market for automotive suspension systems due to the
increased demand for passenger vehicles as the country's economy recovers from
the effects of the pandemic.
Market Segmentation
For the purpose
of this report, the global Automotive Suspension market segmented on the basis
of component type, vehicle type, electric & hybrid vehicle, geometry, system type,
and region:
Component Type Outlook:
On the basis of
component type, the market is segmented into coil spring, leaf spring, air
spring, shock absorber, control arm, rubber bushing, link stabilizer/sway bar,
ball joint strut.
Vehicle Type Outlook:
On the basis of
vehicle type, the market is segmented into passenger car, light commercial
vehicle (LCV), truck, bus, two wheeler.
Electric & Hybrid Vehicle Outlook:
On the basis of
Electric & Hybrid Vehicle, the market is segmented into Battery Electric
Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle
(PHEV), Fuel Cell Electric Vehicle (FCEV).
Figure 1 Automotive Suspension Market By Electric
& Hybrid Vehicle (Market Size And Forecast By Value - USD Million, 2022 & 2030)
