Harrisburg, NC -- (SBWIRE) -- 10/30/2020 -- Motor Vehicle Steering And Suspension Components Global Market Report 2020 provides insightful data about business strategies, qualitative and quantitative analysis of Global Market. The report also calls for market – driven results deriving feasibility studies for client needs. MarketInsightsReports ensures qualified and verifiable aspects of market data operating in the real- time scenario. The analytical studies are conducted ensuring client needs with a thorough understanding of market capacities in the real- time scenario.
The global motor vehicle steering and suspension components market was worth $153.02 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 9.54% and reach $220.33 billion by 2023.
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Top Leading Companies Mentioned are Bosch, Hyundai, Tennaco, Denso, Hella, JTEKT, Knorr-Bremse, Nexteer Automotive, Thyssenkrupp, and ZF Friedrichshafen.
Industry News:
In 2018, SAF Holland, a German base provider of solutions for global commercial vehicle industry, acquired York Transport Equipment (Asia) for an amount of $52.6 million. Through the acquisition SAF Holland aims to increase its presence in the APAC (Asia-Pacific) region. York Transport Equipment is an Asia based manufacturer and distributor of trailer axles, assemble trailer suspension kits. It has a strong service and spare parts network in India and also has significant operations in other fast-growing Southeast Asian markets, such as Thailand, Indonesia and Vietnam besides Australia.
The growth of motor vehicle steering and suspension components market (except spring) is positively affected by the poor quality of roads. The steering and suspension components are used to maintain the stability of the motor vehicle through the rough roads. Rough roads with potholes and poor surface causes wear and tear of steering and suspension components in the long run thus increasing the risk of accidents. This constant wear and tear shorten their working life, and increases the rate at which they need to be replaced. According to the U.S National transportation research group (TRIP) in 2017, 71% of roads in the San Francisco-Oakland area were in poor condition, costing drivers an average of $1,049 in vehicle operating costs each year. The lack of standards for maintenance of roads resulting in rough roads with pot holes, increases the demand for motor vehicle steering and suspension components.
The motor vehicle steering and suspension components market consists of sales of motor vehicle steering and suspension components (except spring) and related services which are used for keeping the wheels of the motor vehicle firmly intact with the ground. Motor vehicle steering components consists of group of parts including steering wheel, steering column and shaft, tie rods, steering arms used to transmit the movement of the steering wheel to the wheels enabling the right and left movement of the wheel. The suspension components comprise of tires, the air in the tires, shock absorbers, struts, arms, bars, linkages, bushings, and joints used to connect the vehicle to its wheels to allow relative motion between the two. The suspension components of a motor vehicle provide supports to the vehicle, absorb bumps and other shocks and allow the vehicle to turn in response to steering input from the drive.
This report provides a detailed analysis of the Motor Vehicle Steering And Suspension Components market with description of market sizing and growth, segmentation of market by products & services and major markets, top market players etc. The report recapitulates the factors that will be responsible for the growth in the market in the forecasted period.
Following are major Table of Content of Motor Vehicle Steering And Suspension Components Industry:
Motor Vehicle Steering And Suspension Components Market Sales Overview.
Motor Vehicle Steering And Suspension Components Market Sales Competition by Manufacturers.
Motor Vehicle Steering And Suspension Components Market Sales Analysis by Region.
Motor Vehicle Steering And Suspension Components Market Sales Analysis by Type.
Motor Vehicle Steering And Suspension Components Market Analysis by Application.
Motor Vehicle Steering And Suspension Components Market -Manufacturers Analysis.
This independent 200 pages report guarantees you will remain better informed than your competition. With over figures examining the Motor Vehicle Steering And Suspension Components market, the report gives you a visual, one-stop breakdown of the leading products, submarket and market leader's market revenue forecasts as well as analysis to 2022.
Geographically, this report is segmented into several key Regions, with Sales, revenue, Market Share (%) and Growth Rate (%) of Motor Vehicle Steering And Suspension Components in these regions, from 2015 to 2022(forecast), covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East And Africa.
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Furthermore, the report provides a detailed analysis of the global Motor Vehicle Steering And Suspension Components market with analysis of market size by value and volume. Along with this, an analysis of penetration rate and the average revenue generated per user (ARPU) in the market has also been done. The report also includes a detailed analysis of the global Motor Vehicle Steering And Suspension Components market by countries, comprising of its market by value, volume, and ARPU and penetration rate.
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The research includes historic data from 2015 to 2020 and forecasts until 2022 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs. The report will make detailed analysis mainly on above questions and in-depth research on the development environment, market size, development trend, operation situation and future development trend of Motor Vehicle Steering And Suspension Components on the basis of stating current situation of the industry in 2020 so as to make comprehensive organization and judgment on the competition situation and development trend of Motor Vehicle Steering And Suspension Components Market and assist manufacturers and investment organization to better grasp the development course of Motor Vehicle Steering And Suspension Components Market.
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