Research on North America Struts Industry Strategy Analysis (Impact of Covid-19)

Length- 124 Pages | Published Date - 2023-05-14 | Report Id- 1984
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The research time span covered by the report is from 2018 to 2029; it provides an overview of the North America Struts Market and also provides a deeper in-depth segmentation of the market by regions, product type and downstream industries.

The North America Struts market size in 2022 is 1167.95 million US dollars, and it is expected to be 1375.05 million US dollars by 2029, with a compound annual growth rate of 2.36% expected in 2023-2029.

MARKET COMPETITIVE LANDSCAPE:
The main players in the Struts market include Monroe , KYB North America , BILSTEIN , Gabriel , and Sachs. The share of the top 3 players in the Struts market is 59.79%.

SEGMENT OVERVIEW:
This report conducts segment analysis on type and application level. Type segment includes BARE STRUTS , LOADED STRUTS, etc. Application segment includes OEM, Aftermarket, etc.
---BARE STRUTS contributes approximately 60.68% share to the market in 2022.
---OEM contributes approximately 59.20% share to the market in 2022.

For competitive landscape, prominent players with considerable market shares are comprehensively analyzed in this report. With information regarding the concentration ratio and detailed data reflecting the market performance of each player shared, the readers can acquire a holistic view of the competitive situation and a better understanding of their competitors.

As the COVID-19 takes over the world, we are continuously tracking the changes in the markets. We analyzed the impact of the pandemic in detail, along with other key factors, such as macro-economy, regional conflicts, industry related news and policies. Meanwhile, market investment scenario, technology status and developments, supply chain challenges, among other essential research elements are all covered.

Key Factors Considered:
COVID-19
The report describes the market scenario during and post the pandemic in the vision of upstream, major market participants, downstream major customers, etc. Other aspects, such as changes in consumer behavior, demand, transport capacity, trade flow under COVID-19, have also been taken into consideration during the process of the research.

Regional Conflict / Russia-Ukraine War
The report also presents the impact of regional conflict on this market in an effort to aid the readers to understand how the market has been adversely influenced and how it”s going to evolve in the years to come.

Challenges & Opportunities
Factors that may help create opportunities and boost profits for market players, as well as challenges that may restrain or even pose a threat to the development of the players, are revealed in the report, which can shed a light on strategic decisions and implementation.
Increasing demand in the automotive sector: Struts play a crucial role in the suspension system of vehicles, providing stability, control, and damping. The automotive industry is a significant driver of the struts market in North America. Factors such as rising vehicle production, increasing consumer preference for comfort and safety features, and the growing demand for electric and hybrid vehicles contribute to the market”s growth.

Technological advancements and product innovations: The struts market has witnessed technological advancements aimed at improving performance, durability, and efficiency. Manufacturers are investing in research and development to develop innovative designs, materials, and manufacturing techniques. This includes the use of advanced materials, such as high-strength steel and aluminum alloys, as well as the integration of electronic components for active suspension systems. These advancements aim to enhance vehicle handling, ride quality, and overall performance.

Focus on lightweight and fuel-efficient solutions: With the increasing emphasis on fuel efficiency and reducing emissions, there is a growing demand for lightweight components in the automotive industry. Struts manufacturers are focusing on developing lightweight designs without compromising structural integrity and performance. Lightweight struts help improve fuel efficiency, reduce vehicle weight, and enhance handling characteristics.

Growth in the aftermarket segment: The aftermarket segment plays a significant role in the struts market. As vehicles age, the need for replacement struts arises due to wear and tear. Additionally, vehicle owners often seek to upgrade their suspension systems for improved performance or customized ride characteristics. The aftermarket provides opportunities for struts manufacturers and suppliers to cater to these demands, driving market growth.

Emphasis on product quality and reliability: In the North America struts market, product quality and reliability are crucial factors. Customers, including original equipment manufacturers (OEMs) and end-users, prioritize struts that offer consistent performance, durability, and long service life. Manufacturers are focusing on rigorous testing, quality control processes, and implementing advanced manufacturing techniques to meet these expectations.

Environmental regulations and sustainability initiatives: Environmental regulations and sustainability considerations have an increasing influence on the automotive industry. Struts manufacturers are developing environmentally friendly solutions, such as using recyclable materials and adopting sustainable manufacturing practices. Compliance with regulations and meeting sustainability goals are becoming important factors in the struts market
Highlights-Regions

USA
Canada
Mexico

Highlights-Players
Major Players in Struts market are:
Monroe
KYB North America
BILSTEIN
Gabriel
Sachs
ADD Industry
SENSEN
Moog
Rancho
Motorcraft
Others

Highlights-Types
Most important types of Struts products covered in this report are:
BARE STRUTS
LOADED STRUTS

Highlights-Application
Most widely Application of Struts market covered in this report are:
OEM
Aftermarket

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