The European Steering and Suspension Parts Market, 2012 - 2020; Market size, market forecast and recommendations

The European Steering and Suspension Parts Market, 2012 - 2020; Market size, market forecast and recommendations

Published: March 2019
Publisher: GlobalData
Product ref: 308762
Pages: 103
Format: PDF
Delivery: By product vendor

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Summary

The steering and suspension parts market in Europe has been affected by the degradation of many roads following the European economic recession. Potholes and poor road surfaces in many countries have impacted the longevity of steering and suspension parts, with the volumes sold increasing 2.4% in 2012-16, whilst values grew by 7.6% over the same period, reflecting the use of lighter-weight and more corrosion-resistant metals such as aluminum and plastic in their manufacture.

Looking to the future, volumes are forecast to grow by 5.9% across Europe whilst values are expected to increase by 9.2% as the trend for light-weighting materials continues.

Scope

• Between 2012 and 2020, the volume of the European track control arm market grew by 2.0%, with values increasing by 7.4%. These strong performances are forecast to continue, with volumes forecast to grow by 5.9% by 2020 and values by 9.4%.
• The volume of stabilizer link bars sold between 2012 and 2016 grew 2.2% with values increasing by 7.2%. Between 2017 and 2020, volumes are forecast to grow by 5.9%, with value growth again set to outstrip volume growth, with forecast growth being 8.2% over the same period.
• As vehicles become more sophisticated and the quality of suspension parts improves, the volume and value of the tie rod end market is expected to grow. Between 2012 and 2016, volumes increased by 3.1%, whilst values increased by 9.1%. By 2020, volumes are forecast to grow by 5.9%, whilst values are forecast to rise by a much greater margin of 9.5% over the same period.

Synopsis
The European steering and suspension parts market is influenced by a number of external factors. Localized factors such as road quality and grit will cause general wear and tear over time. The parts also age with time, and as the parts rust they become fragile. With many European roads suffering from a lack of maintenance due to reductions in government spending as they attempt to cut deficits and manage the effects of austerity measure and fragile economies, steering and suspension parts can become damaged from potholes, if driven over consistently. This shortens their working life, and increases the rate at which they need to be replaced.

Reasons To Buy

• This Trend Report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the European steering and suspension parts market based on insights from within GlobalData's proprietary aftermarket database, consumer insight from our bespoke annual survey and interviews with industry experts.
• The report is designed for an executive-level audience, boasting presentation quality that allows it to be turned into presentable material immediately.
• The broad but detailed perspective will help manufacturers and retailers to understand and succeed in the challenging steering and suspension market.

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Related research categories


By sector: Aftermarket, General components (in Components), Steering & suspension (in Components)

By market: Europe


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