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Global Automotive Suspension Coil Springs Market 2019-2023| Increasing Usage of Efficient Materials in Coil Spring Manufacturing to Boost Growth| Technavio

February 5, 2020 GMT
Global Automotive Suspension Coil Springs Market 2019-2023| Increasing Usage of Efficient Materials in Coil Spring Manufacturing to Boost Growth| Technavio
Global Automotive Suspension Coil Springs Market 2019-2023| Increasing Usage of Efficient Materials in Coil Spring Manufacturing to Boost Growth| Technavio

LONDON--(BUSINESS WIRE)--Feb 4, 2020--

The automotive suspension coil springs market size is poised to grow by USD 2 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global automotive suspension coil springs market 2019-2023 (Graphic: Business Wire)

Automotive suspension systems are undergoing innovations and developments in the materials used for manufacturing components. Vendors have been using advanced processes to manufacture suspension system components. Most coil springs used in vehicle suspension systems are made of hardened steel alloy. However, advancements in automotive manufacturing and growing emphasis on the use of lightweight, strong, and high-performance materials have seen increasing use of titanium and FRP. Coil springs made of these efficient materials are finding growing application in premium segment vehicles, sports sedans, and some sports cars. Thus, the increasing usage of efficient materials in coil spring manufacturing will drive the growth of the market during the forecast period.

To learn more about the global trends impacting the future of market research, download free sample: https://www.technavio.com/talk-to-us?report=IRTNTR30231

As per Technavio, the emergence of active chassis systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Automotive Suspension Coil Springs Market: Emergence of Active Chassis Systems

The performance of automotive suspension and chassis control systems play an integral part in defining the driving or riding experience. The chassis forms the base of a vehicle, and the suspension system determines the comfort level. Both of these areas are undergoing innovative developments resulting in the emergence of improved versions or completely new systems. Recently, ZF Friedrichshafen launched a new fully-active chassis system that can effectively minimize unwanted body movements caused by bumps, potholes, and bends. This advanced chassis control system enables the vehicle to raise and lower each wheel independently. It can enhance handling characteristics and safety with the help of an intelligent actuator. Thus, the emerging active chassis systems which is revolutionizing the riding experience is one of the major trends being witnessed in the global automotive suspension coil springs market.

“Other factors such as the developments in automotive suspension springs market and the introduction of advanced suspension systems will have a positive impact on the growth of the automotive suspension coil springs market value during the forecast period,” says a senior analyst at Technavio.

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Automotive Suspension Coil Springs Market: Segmentation Analysis

This market research report segments the automotive suspension coil springs market by application (passenger vehicle and commercial vehicles) and by region (Americas, EMEA, and APAC).

The APAC region led the automotive suspension coil springs market in 2018, followed by EMEA and Americas respectively. The growth of the automotive suspension coil springs market share in APAC can be attributed to factors such as the growth in sales of passenger cars and the growing popularity of hybrid and electric vehicles in China, Japan, and South Korea.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200204005723/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

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UK: +44 203 893 3200

Email:media@technavio.com

Website:https://www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: AUTOMOTIVE MANUFACTURING MANUFACTURING

SOURCE: Technavio Research

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PUB: 02/04/2020 09:30 PM/DISC: 02/04/2020 09:30 PM

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