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on March 13, 2024
According to the report by Expert Market Research (EMR), the global car strut market size is projected to witness substantial growth, with a CAGR of 3% during the forecast period from 2024 to 2032. The increasing demand for vehicles, coupled with technological advancements in automotive suspension systems, is expected to drive market growth significantly by 2032. Car struts play a crucial role in the suspension system, offering stability, control, and comfort to vehicles across various segments. As automotive manufacturers focus on enhancing vehicle performance, safety, and comfort, the adoption of advanced strut technologies is likely to surge in the coming years.
Car struts are an integral component of the suspension system, responsible for absorbing shocks, dampening vibrations, and maintaining tire contact with the road surface. With the rising consumer preference for smoother rides and improved handling dynamics, the demand for high-quality struts is on the rise. Moreover, stringent regulatory standards pertaining to vehicle safety and emissions are compelling automakers to invest in advanced suspension technologies, thereby driving market growth.
The global automotive industry is witnessing significant transformations, driven by factors such as urbanization, increasing disposable incomes, and changing consumer preferences. As a result, there is a growing demand for passenger cars, commercial vehicles, and electric vehicles (EVs) worldwide. This surge in vehicle production is expected to propel the demand for car struts during the forecast period.
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Car Strut Market Segmentation
The market for car struts can be segmented based on type, vehicle type, distribution channel, and region.
Market Breakup by Type
- Conventional Struts
- Gas-Charged Struts
Market Breakup by Vehicle Type
- Passenger Cars
- Light Commercial Vehicles (LCVs)
- Heavy Commercial Vehicles (HCVs)
- Electric Vehicles (EVs)
Market Breakup by Distribution Channel
- Original Equipment Manufacturers (OEMs)
- Aftermarket
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/car-strut-market
Car Strut Market Competitive Landscape
The EMR report provides insights into the competitive landscape of the global car strut market, including market shares, key developments, partnerships, mergers and acquisitions, and product portfolios of the leading players. Some of the prominent companies operating in the market include:
- KYB corporation
- Bilstein GmbH
- ZF Friedrichshafen AG
- Hitachi Automotive Systems, Ltd.
- Gabriel India Limited
- Others
These companies are focusing on product innovation, strategic collaborations, and geographical expansions to gain a competitive edge in the market. Moreover, the increasing emphasis on lightweight and durable materials, along with the integration of advanced technologies such as electronic damping control systems, is expected to shape the competitive dynamics of the market in the coming years.
The global car strut market is poised for significant growth in the forecast period, driven by the increasing demand for vehicles, technological advancements in automotive suspension systems, and evolving consumer preferences for enhanced driving experiences. With the automotive industry undergoing rapid transformations, manufacturers are under pressure to develop innovative and high-performance strut solutions to meet the evolving needs of vehicle owners worldwide. Moreover, collaborations between automotive manufacturers, suppliers, and technology companies are expected to drive innovation and shape the future of the car strut market.
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Posted in: Business
Topics:
car strut market