The study will cover the market intelligence and information for a period of 12 years from 2014 to 2026. The base year for the study is 2020.
Global Automotive Composite Suspension Components Market Forecast:
The global Automotive Composite Suspension Components Market is anticipated to recoup from the effects of COVID-19 starting from the year 2021 and will grow at a modest CAGR during the forecast period of 2021-2026.
The global 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.
The market is estimated through a rigorous triangulation process of internal data, secondary analysis and the insights gained from the primary interviews with industry experts.
The Automotive Composite Suspension Components Market growth depends upon numerous factors which have direct or indirect impact the demand.
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The key factors governing the demand for Automotive Composite Suspension Components Market are:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Automotive Composite Suspension Components Market Segmentation:
The global 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 position 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.
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COVID-19 IMPACT Analysis on Automotive Composite Suspension Components Market
COVID-19 has affected all the businesses, small or big, present in any sector. The dynamics of Automotive Composite Suspension Components Market have seen a huge shift in the year 2020. The market environment and the way of operations have taken a huge turn and have led to many changes in the processes, which will have repercussions for a long period. 2021 is likely to be better than 2020 for the Automotive Composite Suspension Components Market players as most of the businesses have resumed their operations and the demand is getting restored for them.
Note: This report will be updated to incorporate the impact of COVID-19 on the market forecast for the period of 2021 to 2026.
Automotive Composite Suspension Components Market Competitive Analysis:
The report studies the competitive framework and business environment via different analytical frameworks such as
- Porters Five Forces Model
- SWOT Analysis
- PEST Analysis
- Success Factors
- Growth Matrix
The key players in Automotive Composite Suspension Components Market are:
- Benteler-SGL GmbH & Co KG
- IFC Composite GmbH
- Jamna Auto Industries Ltd.
- Liteflex LLC
- Mubea Fahrwerkstechnologien GmbH
- Sogefi Group
The Automotive Composite Suspension Components Market report benchmarks the major competitors on critical parameters, some of which are mentioned below:
- Sales from the Automotive Composite Suspension Components Market segment
- Geographic diversification
- New product launches
- Market Share
- Strategic alliances, mergers and acquisitions
- Alignment with the market
- Regional dominance of the competitors
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