Market Share of Automotive Suspension System Industry
The automotive suspension system market is moderately consolidated, with leading players, such as Continental AG, Mando Corporation, ZF, Magneti Marelli, ThyssenKrupp AG, and Mando Corporation, accounting for a major market share. Product innovation and geographic expansion to new markets will play a major role in the success of any player in the automotive suspension market.
- In October 2023, McLaren Automotive appointed Monroe as its exclusive suspension supplier. This partnership aims to enhance McLaren's high-end vehicles' performance and driving experience. Monroe, a leading suspension technology company, will provide McLaren with custom-engineered suspension components and systems that cater to the unique requirements of McLaren's sports cars. This collaboration is expected to strengthen both companies' presence in the premium automotive market and contribute to the ongoing development of innovative suspension technologies.
- In August 2023, BWI Group and Clearmotion formed a strategic partnership to develop and grow their active suspension business. This collaboration aims to combine BWI Group's expertise in chassis systems and Clearmotion's advanced active suspension technology, resulting in innovative solutions for improved vehicle ride and handling. This joint effort showcases both companies' commitment to innovation and shared vision for the future of active suspension systems.
- In January 2022, ZF Friedrichshafen AG launched a commercial vehicle division named Commercial Vehicle Solutions, which makes the company the largest commercial vehicle supplier in the automotive industry.
Automotive Suspension System Market Leaders
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Continental AG
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thyssenkrupp AG
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Marelli Holdings Co., Ltd.
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Mando Corporation
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ZF Friedrichshafen AG
*Disclaimer: Major Players sorted in no particular order
