The global automotive suspension bearings market research report by Technavio predicts the market to post a CAGR of close to 7% during the period 2018-2022.
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Technavio has released a new market research report on the global automotive suspension bearings market for the period 2018-2022. (Graphic: Business Wire)
A key driver for the global automotive suspension bearings market is the increasing demand for automobiles. The growing sales of automobiles play an important role in determining the growth of the global automotive suspension bearings market. The rising demand for passenger cars and commercial vehicles in developing countries such as China, Brazil, and India have been driving the market. During the forecast period, the low car ownership pattern along with the progressing economic development in these countries will drive the sales of passenger cars.
This global automotive suspension bearings marketresearchreportalso provides an analysis of the most important trends expected to impact the market outlook during the period 2018-2022. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing popularity of air suspension system in Asia as one of the key trends in the global automotive suspension bearings market:
Global automotive suspension bearings market: Increasing popularity of air suspension system in Asia
The automotive air suspension system is used in heavy-duty commercial vehicles and luxury passenger cars. The Asian automotive market is cost-sensitive, which is the reason for the slow penetration of the automotive air suspension system in Asian countries as they are more expensive than other suspension systems.
"The increasing need for comfort and convenience is promoting the demand for automotive air suspension system in Asian countries such as China, Japan, and India in spite of it being an expensive system. These countries are also witnessing growth in heavy-duty commercial vehicles," says a senior research analyst at Technavio.
Global automotive suspension bearings market: Segmentation analysis
This automotive suspension bearings market analysis report segments the market by vehicle type (passenger cars and commercial vehicles) and geography (the Americas, APAC, and EMEA).
The passenger cars segment held the largest automotive suspension bearings market share in 2017, accounting for nearly 77% of the market. This vehicle type segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2017 with approximately 55% of the market share, followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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