Automotive Double Wishbone Suspension System Market - Rising Preference for SUVs to Drive Growth | Technavio
Technavio market research analysts forecast the global automotive double wishbone suspension system market to grow at a CAGR of over 3% during the period 2018-2022, according to their latest report.
This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180303005021/en/
Technavio has published a new market research report on the global automotive double wishbone suspension system market 2018-2022 under their automotive library. (Graphic: Business Wire)
This market research report segments the global automotive double wishbone suspension system market into the following applications (SUVs, MPVs and pickup truck, high-performance vehicles, and ATVs) and key regions (the Americas, APAC, and EMEA).
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
In this report, Technavio analysts highlight the rising preference for SUVs as a key factor contributing to the growth of the global automotive double wishbone suspension system market:
Rising preference for SUVs
The suspension systems, which are incorporated in SUVs are characterized by the ability to absorb heavy loads. At present, a double wishbone suspension system is considered the most economical and functional system in the market, which enhances the performance of SUVs. Occasionally, SUVs are used for off-road applications as well. Therefore, incorporation of effective suspension systems holds the key to regulating the performance and driving dynamics of an SUV. Vehicles such as SUVs are characterized by large platform areas. This implies that these vehicles provide enough space to accommodate double wishbone suspension systems. The increasing preference for SUVs suggests a corresponding growing demand for double wishbone suspension systems.
According to a senior analyst at Technavio for automotive components, “SUVs are high-power vehicles that are characterized by expanded seating capacities and improved ground clearance. They are majorly employed in off-road conditions. The Americas is considered the market leader in the global SUV market. The dominance of the market can be credited to low fuel prices and technological advancements. Besides, SUVs and crossover SUVs are increasingly preferred in Europe because of the increased safety features, improved road view, and increased passenger seating capacities. In Europe, the luxury SUV segment is expected to witness increased demand during the forecast period.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global automotive double wishbone suspension system market segmentation
Among the various applications, the SUV segment was the most dominant segment of the global automotive double wishbone suspension system market in 2017, with a market share of more than 81%.
The demand for double wishbone suspension systems is high in the European and American countries due to the increased focus on vehicle performance. The Americas is the market leader in the global double wishbone suspension system market. The Americas market is followed by APAC. Lately, R&D initiatives in the global double wishbone suspension system market concentrate on cost-effective technologies.
Technavio’s best deal of the month! Get 20% off on all Media and Entertainment Services reports. Offer valid only till the 31st of March.
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 10,000 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.
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180303005021/en/
