Being a mature market with declining demand other than the control arms product sub-type, steering & suspension components do not offer scope for players to grow other than acquiring competitors share.
However, due to the growth in the control arms segment, the overall Steering & Suspension market is expected to go over $900 million by 2025. Market share of Steering & Suspension components have fluctuated in the recent past and are expected to get more competitive in the future. Market players would be able to gain market share by enhancing their product coverage and offering better services such as refill rate, rebate offers to the distribution channel partners. Declining demand in overall market and a consolidated market will be the major barriers for growth