European Steering and Suspension Parts Market Size, Growth, Trends, Industry Analysis and Forecast 2019 – By Acute Market Reports
The 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.
– Overall steering and suspension parts market forecast to grow 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 3% in 2011-15, whilst values grew by 9% 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 2.1% across Europe whilst values are expected to increase by 13% as the trend for light-weighting materials continues.
– The increasing number of vehicles on the road, longer vehicle life spans, 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 19.3bn by 2019.
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– A growing parc through the period 2011-15 and recovering mileages will result in increased demand for steering and suspension aftermarket parts in the forecast period between 2016 and 2019, with revenues also expected to increase over the forecast period.
The European Steering and Suspension Parts Market 2011-2019, a Trend Report by Verdict Retail, provides an executive-level overview of the European vehicle steering and suspension parts market today, with forecasts of values and volumes up to 2019. It delivers deep quantitative and qualitative insight into the European steering and suspension parts market, analyzing key trends in the market based on proprietary data from Verdict Retail’s aftermarket databases.
It provides in-depth analysis of the following:
– Market size and forecast; a look at the total market size and forecast size for steering and suspension parts in Europe, with an overview regional analysis.
– Market value and forecast; a look at the total market value and forecast value for steering and suspension parts in Europe, with an overview regional analysis.
– Summary of main influences; an overview on the factors driving the evolution of the European steering and suspension parts market.
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 Verdict’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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