World News: 12:32 GMT Thursday 30th May 2019. [Lucintel, 8951 Cypress Waters Blvd., Suite 160, Dallas, TX 75019 via Globe Newswire via SPi World News]
DALLAS, May 30, 2019 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the global market looks attractive with opportunities in the markets of passenger cars, light commercial vehicles, and medium & heavy commercial vehicles. The global automotive composite suspension components market is expected to grow at a CAGR of 4.9% from 2019 to 2024. The major drivers for this market are growth in automotive production and increasing demand for lightweight materials to achieve high fuel efficiency and reduce carbon emissions.
In this market, different types of automotive composite suspension components such as leaf spring, coil spring and stabilizer bar are used as component. On the basis of comprehensive research, composite leaf springs will remain the largest segment and witness the highest growth over the forecast period because composite leaf springs are lighter weight and offer better durability compared to steel spring.
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Europe will remain the largest region by value and volume over the forecast period due to stringent government regulations to increase fuel efficiency and lower carbon emissions. APAC is expected to witness the highest growth over the forecast period due to increasing penetration of composites leaf springs.
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An emerging trend, which has a direct impact on the dynamics of the automotive composite suspension components industry, includes development of CFRP leafsprings for heavy commercial vehicles. Liteflex, Sogefi Group, Mubea Fahrwerkstechnologien, IFA Composite, and Henderickson are among the major automotive composite suspension components manufacturers.
Lucintel, a leading global strategic consulting and , has analyzed and forecasted for the global automotive composite suspension components market by components, vehicle, process, and region and has come up with a comprehensive research report entitled “.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at
Globe Newswire: 12:32 GMT Thursday 30th May 2019
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