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Report
South Korea Automotive Suspension Market Report and Forecast 2024-2032
Market Report I 2023-11-23 I 135 Pages I EMR Inc.
South Korea Automotive Suspension Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the South Korea automotive suspension market is projected to grow at a CAGR of 3.3% between 2024 and 2032. Aided by the technological advancements in automotive designs and the rising demand for a comfortable and safe driving experience, the market is expected to grow significantly by 2032.
Automotive suspension, a crucial component of the automobile industry, pertains to the system of tires, tire air, springs, shock absorbers, and linkages connecting a vehicle to its wheels. It serves dual functions: ensuring optimal vehicle handling and braking for active safety and driving pleasure, and keeping passengers comfortable by minimising noise, bumps, and vibrations. Advanced suspension systems are integral to modern-day vehicles, from daily commuting cars to high-performance sports cars and heavy-duty trucks.
Several factors contribute to the South Korea automotive suspension market growth. First, the country's strong emphasis on technological innovations in the automotive sector ensures continuous advancements in suspension systems. With increased R&D, manufacturers are focusing on developing lightweight and more durable suspension components, which can effectively reduce the vehicle's overall weight, ensuring better fuel efficiency and performance.
As per the South Korea automotive suspension market analysis, South Korea's booming automotive industry, which houses giants like Hyundai and Kia, has seen substantial growth in domestic car sales and exports. As these brands aim for global prominence, there's a heightened focus on integrating top-notch suspension systems to cater to the demands of international consumers who prioritise safety and driving comfort.
Additionally, the rise in consumer demand for electric vehicles (EVs) in South Korea necessitates the development of specialised suspension systems, further propelling the South Korea automotive suspension market demand. With EVs having distinct weight distribution due to heavy batteries, suspension systems need to adapt to maintain ride comfort, handling, and safety. The surge in EV production and adoption further drives the automotive suspension market in the region.
The growing trends towards autonomous vehicles also bring attention to the automotive suspension sector. As self-driving cars become more prevalent, the need for reliable and efficient suspension systems becomes paramount, which contributes to the South Korea automotive suspension market size. These vehicles, given their automated nature, will require suspension systems that can instantly adapt to road conditions, ensuring passenger safety and comfort.
Market Segmentation
The market can be divided based on system, suspension type, component, vehicle type, and provinces.
Market Breakup by System
- Passive System
- Semi-Active/Active System
Market Breakup by Suspension Type
- Hydraulic Suspension
- Air Suspension
Market Breakup by Component
- Spring
- Shock Dampener
- Air compressor
- Struts
- Others
Market Breakup by Vehicle Type
- Passenger Vehicle
- Two-Wheeler
- Commercial Vehicle
- Others
Market Breakup by Provinces
- North Chungcheong
- South Chungcheong
- Gangwon
- Gyeonggi
- North Gyeongsang
- South Gyeongsang
- North Jeolla
- South Jeolla
- Jeju Special Self-Governing Province
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the South Korea automotive suspension market. Some of the major players explored in the report by Expert Market Research are as follows:
- HYUNDAI TRANSYS Inc.
- Hyundai Mobis Co., Ltd.
- ZF Friedrichshafen AG
- Continental AG
- Mando Corporation
- ThyssenKrupp AG
- Marelli Holdings Co., Ltd.
- Benteler International AG
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Regional
7 Industry Opportunities and Challenges
8 South Korea Automotive Suspension Market Analysis
8.1 Key Industry Highlights
8.2 South Korea Automotive Suspension Historical Market (2018-2023)
8.3 South Korea Automotive Suspension Market Forecast (2024-2032)
8.4 South Korea Automotive Suspension Market by System
8.4.1 Passive System
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Semi-Active/Active System
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.5 South Korea Automotive Suspension Market by Suspension Type
8.5.1 Hydraulic Suspension
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Air Suspension
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.6 South Korea Automotive Suspension Market by Component
8.6.1 Spring
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Shock Dampener
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Air compressor
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Struts
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Others
8.7 South Korea Automotive Suspension Market by Vehicle Type
8.7.1 Passenger Vehicle
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Two-Wheeler
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Commercial Vehicle
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Others
8.8 South Korea Automotive Suspension Market by Provinces
8.8.1 North Chungcheong
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2023)
8.8.1.3 Forecast Trend (2024-2032)
8.8.2 South Chungcheong
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2023)
8.8.2.3 Forecast Trend (2024-2032)
8.8.3 Gangwon
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2023)
8.8.3.3 Forecast Trend (2024-2032)
8.8.4 Gyeonggi
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2023)
8.8.4.3 Forecast Trend (2024-2032)
8.8.5 North Gyeongsang
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2023)
8.8.5.3 Forecast Trend (2024-2032)
8.8.6 South Gyeongsang
8.8.6.1 Market Share
8.8.6.2 Historical Trend (2018-2023)
8.8.6.3 Forecast Trend (2024-2032)
8.8.7 North Jeolla
8.8.7.1 Market Share
8.8.7.2 Historical Trend (2018-2023)
8.8.7.3 Forecast Trend (2024-2032)
8.8.8 South Jeolla
8.8.8.1 Market Share
8.8.8.2 Historical Trend (2018-2023)
8.8.8.3 Forecast Trend (2024-2032)
8.8.9 Jeju Special Self-Governing Province
8.8.9.1 Market Share
8.8.9.2 Historical Trend (2018-2023)
8.8.9.3 Forecast Trend (2024-2032)
9 Market Dynamics
9.1 SWOT Analysis
9.1.1 Strengths
9.1.2 Weaknesses
9.1.3 Opportunities
9.1.4 Threats
9.2 Porter's Five Forces Analysis
9.2.1 Supplier's Power
9.2.2 Buyer's Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Competitive Landscape
10.1 Market Structure
10.2 Company Profiles
10.2.1 Mando Corp.
10.2.1.1 Company Overview
10.2.1.2 Product Portfolio
10.2.1.3 Demographic Reach and Achievements
10.2.1.4 Certifications
10.2.2 HYUNDAI TRANSYS Inc.
10.2.2.1 Company Overview
10.2.2.2 Product Portfolio
10.2.2.3 Demographic Reach and Achievements
10.2.2.4 Certifications
10.2.3 Hyundai Mobis Co., Ltd.
10.2.3.1 Company Overview
10.2.3.2 Product Portfolio
10.2.3.3 Demographic Reach and Achievements
10.2.3.4 Certifications
10.2.4 ZF Friedrichshafen AG
10.2.4.1 Company Overview
10.2.4.2 Product Portfolio
10.2.4.3 Demographic Reach and Achievements
10.2.4.4 Certifications
10.2.5 Continental AG
10.2.5.1 Company Overview
10.2.5.2 Product Portfolio
10.2.5.3 Demographic Reach and Achievements
10.2.5.4 Certifications
10.2.6 Mando Corporation
10.2.6.1 Company Overview
10.2.6.2 Product Portfolio
10.2.6.3 Demographic Reach and Achievements
10.2.6.4 Certifications
10.2.7 ThyssenKrupp AG
10.2.7.1 Company Overview
10.2.7.2 Product Portfolio
10.2.7.3 Demographic Reach and Achievements
10.2.7.4 Certifications
10.2.8 Marelli Holdings Co., Ltd.
10.2.8.1 Company Overview
10.2.8.2 Product Portfolio
10.2.8.3 Demographic Reach and Achievements
10.2.8.4 Certifications
10.2.9 Benteler International AG
10.2.9.1 Company Overview
10.2.9.2 Product Portfolio
10.2.9.3 Demographic Reach and Achievements
10.2.9.4 Certifications
10.2.10 Others
11 Industry Events and Developments
List of Key Figures and Tables
1. South Korea Automotive Suspension Market: Key Industry Highlights, 2017 and 2021
2. South Korea Automotive Suspension Historical Market: Breakup by System (USD Million), 2018-2023
3. South Korea Automotive Suspension Market Forecast: Breakup by System (USD Million), 2024-2032
4. South Korea Automotive Suspension Historical Market: Breakup by Suspension Type (USD Million), 2018-2023
5. South Korea Automotive Suspension Market Forecast: Breakup by Suspension Type (USD Million), 2024-2032
6. South Korea Automotive Suspension Historical Market: Breakup by Component (USD Million), 2018-2023
7. South Korea Automotive Suspension Market Forecast: Breakup by Component (USD Million), 2024-2032
8. South Korea Automotive Suspension Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
9. South Korea Automotive Suspension Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
10. South Korea Automotive Suspension Historical Market: Breakup by Provinces (USD Million), 2018-2023
11. South Korea Automotive Suspension Market Forecast: Breakup by Provinces (USD Million), 2024-2032
12. South Korea Automotive Suspension Market Structure
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