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Global Commercial Vehicle Suspension System Market 2018-2022| Integration of Carbon Fibers in Commercial Vehicle Suspension System Components to Boost Growth| Technavio

The global commercial vehicle suspension system market is expected to post a CAGR of close to 5%, according to the latest market research report by Technavio. However, the growth momentum of the market is expected to decelerate on a year-on-year basis during the forecast period 2018-2022.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181212005523/en/

Technavio has released a new market research report on the global commercial vehicle suspension syst ...

Technavio has released a new market research report on the global commercial vehicle suspension system market for the period 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the rising sales of commercial vehicles. The rising amount of freight and the increasing amount of manufacturing operations in developing countries are driving the sales of commercial vehicles. Sales and production of commercial vehicles have a direct impact on the commercial vehicle suspension system market. The rising sales of commercial vehicles will also drive the confidence of vehicle users to introduce newer models of trucks with advanced technological features diming the forecast period. A suspension system is an important feature that determines the vehicle handling features and quality of the ride. All commercial vehicles are equipped with a suspension system compatible with that type of vehicle. Moreover, the increasing demand for public transportation vehicles is fueling the production of commercial trucks and minibuses. This will also drive the production of commercial vehicle suspension systems during the forecast period.

This market research report on the global commercial vehicle suspension system market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. 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 integration of carbon fibers in commercial vehicle suspension system components as one of the key emerging trends in the global commercial vehicle suspension system market:

Global commercial vehicle suspension system market: Integration of carbon fibers in commercial vehicle suspension system components

The automotive suspension system is a combination of springs, shock absorber, tires, and linkages that enable relative motion between the wheels and the vehicle, connecting the same with the linkages. The suspension knuckle is an important linkage that attaches the lower suspension and upper suspension components with the wheel support assembly. A suspension knuckle is responsible for improving the durability and stiffness of the suspension system. Vendors are researching the effects and performance of carbon fiber-reinforced suspension knuckles to improve the overall performance of the suspension system. Hexcel Les Avenieres, Hexcel's European center of excellence for carbon fiber reinforcements and Saint Jean Industries (France), has been developing carbon fiber and aluminum reinforcements for manufacturing various suspension components. The use of carbon fiber within suspension components increases the stiffness and durability of commercial vehicle suspension systems.

“Apart from integration of carbon fibers in commercial vehicle suspension system component, the increasing penetration of air suspension system, increasing demand for advanced suspension systems in LCVs, development of composite leaf springs, and the development of three-chamber air spring systems, are some other important factors that are expected to enhance the growth of the market during the forecast period,” says a senior analyst at Technavio.

Global commercial vehicle suspension system market: Segmentation analysis

This market research report segments the global commercial vehicle suspension system market by application (LCVs and HCVs) and geographical regions (APAC, EMEA, and the Americas).

The Americas led the market in 2017 with a market share of close to 50%, followed by APAC and EMEA respectively. During the forecast period, the Americas is expected to continue dominating the global commercial vehicle suspension system market and register the highest incremental growth.

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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.

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

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.

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