The new report by Expert Market Research titled, ‘Global Car Strut Market Report and Forecast 2023-2028’, gives in-depth analysis of the global car strut market, assessing the market based on its segments like category, material, location of usage, type of product, vehicle type, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028): –
- Forecast CAGR (2023-2028): 3%
As car struts are most commonly seen on the front and rear of small to medium cars and now large cars are trending towards strut-based suspension design, the worldwide car strut market is driven by the vehicle manufacturing industry. As they are easy and have a low initial cost, car struts are favoured. Due to handling and poor performance and high maintenance characteristics, the primary factors restricting the global vehicle strut market are. Many sports cars use a double wishbone suspension that doesn’t use the car strut, but rather than shock absorbers, Porsche911 uses struts.
Industry Definition and Major Segments
A mechanical part that is intended to repel longitudinal density exists as a car strut. Car struts provide outward protection and allow other components to be held detached. Car strut is a component of a vehicle frame, it is possible to use car strut as an inactive brace to support the chassis and body or as an active suspension component.
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Based on category, the industry can be divided into the following:
- Sealed
- Repairable
The type of material can be segmented as follows:
- Steel
- Aluminium
- Fibre-Reinforced Plastic
- Others
The location of usage of car strut can be categorised as follows:
- Front
- Rear
The type of the product can be segmented as follows:
- Gas Strut
- Pneumatic Strut
- Air Strut
- Others
The vehicle type can be categorised into the following:
- Passenger
- Commercial
Based on region, the market is segmented into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Suspension device components vary according to the specifications of the vehicle. In passenger and commercial vehicles, coil springs are replacing traditional leaf springs. Increased coil spring penetration in automobiles is expected to propel the market for automotive struts. It is expected that the rise in the number of passenger vehicles would improve the development of automotive struts during the forecast period. Another significant dynamic which is likely to drive the overall growth of the automotive strut market is increasing demand for light-weighted materials for struts. In passenger vehicles, coil springs provide consumers with comfort. Asia-Pacific dominates the global market for automotive struts, as automotive suspension dominates this area. The Asia-Pacific region is followed by eastern and western Europe and North America. With growth in assembly plants in the region, the Middle East & Africa are expected to expand. Overall, over the next estimated year, the worldwide automotive strut market is expected to experience strong growth with expanded opportunities.
Key Market Players
The major players in the market are KYB corporation, Bilstein GmbH, ZF Friedrichshafen AG, Hitachi Automotive Systems, Ltd., Gabriel India Limited and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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