The global automotive shocks and struts market to grow at a CAGR of 4.34% during the period 2017-2021.
The report, Global Automotive Shocks and Struts Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is growing demand for carbon fiber struts. ZF is a major player in the high-end metal systems and suspension components for years. Recently, ZF launched carbon fiber MacPherson suspension strut, an effective way to reduce vehicle weight, improve fuel economy, and lower emission levels. The carbon fiber strut is particularly designed for compact mini-cars and is expected to appear in the BMW Mega City vehicle, which would largely be composed of carbon fibers.
According to the report, one driver in market is increasing sales of passenger cars and SUVs. The sales of SUVs and crossovers increased by about 10% in the total passenger car market in the US in 2015. There is a growing preference for crossovers and SUVs in the US due to their increased fuel efficiency and comfort level in the three-row seating arrangement. The structure of SUVs and crossovers is similar, but they are distinct in fuel efficiency and usability. Crossovers are more fuel efficient compared with SUVs, as they are built on car frames and are considerably lightweight.
Most American customers prefer space and higher riding profile. Crossovers usually weigh lighter than SUVs as they are built on truck frames, which contributes to a comparatively higher curb weight for the vehicles. The lowering of interest rates on car loans in the US has enabled the Americans to buy larger and more expensive vehicles. Toyota has undertaken manufacturing plans in the US to increase its production of crossovers and SUVs.