The European Steering & Suspension Parts Market 2012 - 2022: Market size, market forecast and recommendations

The European Steering & Suspension Parts Market 2012 - 2022: Market size, market forecast and recommendations

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 6.1% in 2012-17, whilst values grew by 14.3% 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 12.7% across Europe whilst values are expected to increase by 19.1% as the trend for light-weighting materials continues.

The increasing number of vehicles on the road, longer vehicle lifespans, increasing annual mileages and wear resulting from harsher driving conditions will lead to the growth of the steering and suspension parts market in Europe, which is expected to show strong growth over the next few years, reaching revenues of €21,481,379,921 by 2022.

As the European economy has recovered and entered another phase of growth, so too has the number of new vehicle sales, with SUVs in particular continuing to demonstrate high levels of growth. New vehicle sales are continuing to surge, supported by growing levels of employment, low - but rising - rates of inflation and historically low interest rates.

Scope

- 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 2017, volumes increased by 6.3%, whilst values increased by 15.0%. By 2022, volumes are forecast to grow by 12.0%, whilst values are forecast to rise by a much greater margin of 19.3% over the same period.Between 2012 and 2017, the volume of the European track control arm market grew by 6.2%, with values increasing by14.3%. These strong performances are forecast to continue towards 2022.
- The volume of stabilizer link bars sold between 2012 and 2017 grew 5.9% with values increasing by 13.8%. Between 2018 and 2022, volumes are forecast to grow by 13%, with value growth again set to outstrip volume growth, with forecast growth being 18.4% over the same period.

Reasons to buy

- This Trend Report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the European steering & 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 & suspension market.