Overview

Smooth ride: Revived consumer demand for cars will accelerate industry recovery

IBISWorld’s industry research report on Automobile Steering & Suspension Manufacturing contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • Renewed domestic car demand will flow to steering and suspension manufacturers
  • Volatility in input prices led to challenges for steering and suspension manufacturers
  • Less-volatile input prices will keep profit margins steady for industry operators

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    Industry Analysis & Industry Trends

    The Automobile Steering and Suspension Manufacturing industry experienced strong growth over the five years to 2017, as automobile production improved in response to increased demand from consumers as disposable income levels rose. Moreover, changing consumer preferences contributed to industry growth, as automakers diversified their product offerings to meet new consumer demand for fuel economy and safety. Over the five years to 2022, the industry is anticipated to experience a marginal decline. New car sales are projected to decline from previous highs, which is projected to limit demand for industry auto parts. This will act to limit revenue for industry operators in addition to gradually increasing import competition...

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    Industry Report - Industry Products Chapter

    The Automobile Steering and Suspension Manufacturing industry produces both new and rebuilt products. New products are sold to either original equipment manufacturers or to the aftermarket, and rebuilt products are sold primarily to the aftermarket. The original equipment automotive parts industry is divided into three tiers. Manufacturers of tier one automotive parts supply finished parts and components to automakers for use in vehicle production. Tier two suppliers produce subcomponents for tier one manufacturing, while tier three manufacturers supply raw materials used in the production of components. Increasingly, tier one manufacturers are producing complete subassemblies and modular components that are installed into a vehicle as a unit.

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    Additional Insights for the Automobile Steering & Suspension Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Automobile Steering & Suspension Manufacturing Industry are

  • Access to the latest available and most efficient technology and techniques
  • Effective cost controls
  • Undertaking technical research and development
  • IBISWorld analysts also discuss how external factors such as Consumer Confidence Index and New car sales in the Automobile Steering & Suspension Manufacturing industry impact industry performance..

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    Industry Products

    What is the Automobile Steering & Suspension Manufacturing Industry?

    Industry operators mainly manufacture and rebuild motor vehicle steering and suspension systems and components. These consist of steering wheels, shock absorbers and struts. Spring manufacturing is not included in this industry.

    Industry Products
    Steering wheels, columns, and gearboxes
    Steering idler arms, drag links, and control arms
    Shock absorbers and struts
    Tie rod ends
    Other components
    Industry Activities
    Manufacturing steering wheels, columns and gear boxes
    Manufacturing shock absorbers
    Manufacturing steering idler arms, drag links and control arms
    Manufacturing rack and pinion steering assemblies
    Manufacturing ball joints, struts and tie rod ends
    Rebuilding suspension and steering parts

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Consumer Confidence Index
  • New car sales
  • World price of steel
  • Trade-weighted index
  • World price of crude oil

  • Current Performance
  • The automotive sector
  • Industry concentration
  • Accelerating globalization
  • Chart: Revenue Growth

  • Industry Outlook
  • Moderation in international trends
  • Positioning for the future
  • Table: Automobile Steering & Suspension Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Automobile Steering & Suspension Manufacturing Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Car & Automobile Manufacturing
  • SUV & Light Truck Manufacturing
  • Truck & Bus Manufacturing
  • Auto Parts Wholesaling

  • Key Selling Industries
  • Ball Bearing Manufacturing
  • Machine Shop Services
  • Urethane Foam Manufacturing
  • Wire & Cable Manufacturing
  • Wire & Spring Manufacturing

  • Products & Services
  • Steering wheels, columns, and gearboxes
  • Other components
  • Shock absorbers and struts
  • Steering idler arms, drag links, and control arms
  • Tie rod ends
  • Chart: Automobile Steering & Suspension Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • SUV and light truck manufacturers
  • Car and automobile manufacturers
  • Export markets
  • Heavy truck, bus and agricultural equipment manufacturers
  • Chart: Major Market Segmentation for the Automobile Steering & Suspension Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesOther
  • Chart: Cost Structure Benchmarking – Sector vs Automobile Steering & Suspension Manufacturing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Automobile Steering & Suspension Manufacturing Industry

  • Industry Globalization
    Major Companies
    ZF Friedrichshafen AGTenneco Inc. Hyundai Mobis Co., Ltd.Robert Bosch GmbH
  • Table: ZF Friedrichshafen AG - financial performance
  • Table: Tenneco Inc. - financial performance
  • Table: Hyundai Mobis Co., Ltd. - financial performance
  • Table: Robert Bosch GmbH - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Automobile Steering & Suspension Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Automobile Steering & Suspension Manufacturing Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • World Price of Steel (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Jargon & Glossary
    Aftermarket
  • Parts purchased for a vehicle that is already in use, as opposed to a vehicle being assembled.
  • Drive-By-Line
  • Systems where the physical connection is an automobile are replaced by wired communications.
  • Electronic Power Steering
  • Electronic power steering uses electric motors rather than traditional hydraulic systems and reduce weight and energy use.
  • Just-In-Time
  • A strategy implemented to improve profitability by reducing inventory and purchasing the raw materials that are needed for the immediate term only.
  • Tier-One Supplier
  • Parts manufacturers that supply directly to automakers.
  • Tier-Two Supplier
  • Suppliers that manufacture sub-components that are supplied to tier-one manufacturers.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Automobile Steering & Suspension Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Automobile Steering & Suspension Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Automobile Steering & Suspension Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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