As per MRFR analysis, the automotive strut bar market size was estimated at 7.34 (USD Billion) in 2022. The automotive strut bar market industry is expected to grow from 7.64(USD Billion) in 2023 to 11.0 (USD Billion) by 2032. The automotive strut bar market CAGR (growth rate) is expected to be around 4.13% during the forecast period (2024-2032).
Key Automotive Strut Bar Market Trends Highlighted
The automotive strut bar market is characterized by several key trends that are shaping the market's evolution and offering opportunities for growth. One of the most prominent trends is the rising popularity of SUVs and crossovers, as these vehicles often necessitate a more robust suspension system to handle their higher weight and center of gravity. This has led to increased demand for strut bars, which enhance vehicle stability and reduce body roll during cornering and maneuvering.
In addition, the adoption of lightweight materials in vehicle design to improve fuel efficiency has presented opportunities for manufacturers to develop strut bars from materials such as aluminum and carbon fiber. These lightweight strut bars reduce overall vehicle weight while maintaining structural integrity, meeting the rising consumer demand for enhanced performance and fuel efficiency. Another trend shaping the market is the development of adjustable strut bars. By allowing for fine-tuning of suspension settings, adjustable strut bars cater to the growing segment of performance-oriented drivers who seek customizable handling dynamics.
Moreover, the growing popularity of aftermarket performance modifications has created a thriving market for aftermarket strut bars. These aftermarket solutions offer enthusiasts the opportunity to enhance the handling of their vehicles, leading to increased demand for high-performance strut bars designed to meet specific vehicle requirements.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Strut Bar Market Drivers
Increasing Demand for Vehicle Performance and Handling
The vast growth of the Automotive Strut Bar Market is attributed to the rising interest in performance vehicles and the subsequent demand for better stability and handling. Strut bars advance vehicle dynamics by minimizing chassis flex and increasing the car’s torsional rigidity, which ultimately leads to better turning, stopping, and overall handling. With an increase in awareness among the customers regarding the dependability of strut bars, it can be said that their prevalence will also continue to rise.
Expansion of the Automotive Aftermarket
Expanding automotive aftermarket Another key driver of growth for the Automotive Strut Bar Market is the expanding automotive aftermarket. As vehicles get older, they require more maintenance and repairs. Thus, an increasing number of vehicles are in need of replacement parts or new equipment. Moreover, the growing presence of more vehicles on the road combined with the increasing age of the average car creates a more favorable environment to find more vehicles that might need strut bars.
Technological Advancements and New Product Development
Technological advancements and the introduction of new materials and designs are also facilitating the development of the Automotive Strut Bar Market. Companies are introducing new products to enhance their performance and ensure they are more resistant to the pressures typically placed on automotive strut bars. Technological advancements have facilitated the use of aluminum alloy and carbon fiber composites, which reduces the weight of strut bars and ensures they are more efficient and effective.
Automotive Strut Bar Market Segment Insights:
Automotive Strut Bar Market Vehicle Type Insights
The Automotive Strut Bar Market is segmented by vehicle type into passenger cars and commercial vehicles. The passenger cars segment dominated the market in 2023 and is expected to continue leading in the forecast period. Passenger cars have higher demand and global production, leading to the growth of this market segment. In 2023, passenger cars had a contribution of about 65% in the Automotive Strut Bar Market. The commercial vehicles segment is anticipated to have a significant growth rate as the demand for commercial vehicles for the transportation of goods and services is increasing.The significance of an automotive strut bar lies in its application in improving the safety and performance of a vehicle. Strut bars are used in vehicles to improve structural rigidity and support, especially in handling the corners and speeds of a high performing vehicle. Notably, strut bars are used to reduce body roll, roll-spin and chassis flex, making the experienced drive more controllable, agile, and steady. Due to the ease in installation, adjustable and durable features and their usage in enhancing the performance of modern suspension systems, the demand for strut bars is increasing.Leading companies producing strut bars in the Automotive Strut Bar Market include KW Automotive, Eibach, ST suspensions, H Special Springs, and Whiteline. The leading companies produce and supply different varieties of strut bars to fit the diverse consumer needs and global vehicles, which has made the market highly competitive. High competition and demand have led companies to carry out rigorous product engineering and development and form strategic partnerships and collaborations to cope with the market conditions. In conclusion, the Automotive Strut Bar Market is expected to increase in the coming years as the demand and manufacturing of high-performance vehicles is on the rise.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Strut Bar Market Strut Type Insights
The Strut Type segment is a crucial component of the Automotive Strut Bar Market. Front strut bars are designed to reinforce the front suspension, improving handling and stability during cornering. Rear strut bars serve a similar purpose for the rear suspension, enhancing traction and minimizing body roll. Tower bars, on the other hand, connect the strut towers, further increasing structural rigidity and reducing chassis flex. In 2023, the Automotive Strut Bar Market revenue for Front Strut Bars is projected to be around USD 3.2 billion, while Rear Strut Bars and Tower Bars are estimated to contribute USD 2.1 billion and USD 1.5 billion, respectively.The growing demand for enhanced vehicle performance and safety features is driving the market growth for all three types of strut bars.
Automotive Strut Bar Market Material Insights
The Automotive Strut Bar Market is segmented based on Material into Steel, Aluminum, and Carbon Fiber. Among these segments, Steel is expected to hold the largest market share in 2023, owing to its high strength, durability, and cost-effectiveness. The Steel segment is projected to grow at a CAGR of 3.8% during the forecast period. Aluminum is another popular material used in the production of strut bars, due to its lightweight and corrosion resistance properties. The Aluminum segment is anticipated to grow at a CAGR of 4.2% during the forecast period.Carbon Fiber is a relatively new material used in the production of strut bars, and it offers high strength and stiffness at a reduced weight. The Carbon Fiber segment is expected to grow at a CAGR of 5.1% during the forecast period.
Automotive Strut Bar Market Adjustability Insights
The adjustability segment in the Automotive Strut Bar Market is categorized into adjustable and non-adjustable strut bars. Adjustable strut bars allow for fine-tuning of the suspension system to optimize handling and performance. They are commonly used in racing and performance-oriented vehicles. Non-adjustable strut bars, on the other hand, provide a fixed level of reinforcement and are typically found in standard passenger vehicles. In 2023, the adjustable strut bar segment accounted for approximately 30% of the Automotive Strut Bar Market revenue, and it is projected to grow at a CAGR of 4.5% from 2024 to 2032.The growth of the adjustable strut bar segment is driven by the increasing demand for performance-oriented vehicles and the rising popularity of motorsports.
Automotive Strut Bar Market Application Insights
The application segment of the Automotive Strut Bar Market is divided into street performance, racing, and off-road. The street performance segment is expected to account for the largest share of the market in 2024, owing to the increasing popularity of modified and performance-oriented vehicles. The racing segment is expected to grow at a significant CAGR during the forecast period, due to the rising number of motorsports events and the increasing popularity of racing as a sport. The off-road segment is expected to witness steady growth, driven by the growing popularity of off-road vehicles and the increasing demand for performance upgrades in this segment.Overall, the Automotive Strut Bar Market is expected to witness significant growth over the forecast period, driven by the increasing demand for performance and safety enhancements in the automotive industry.
Automotive Strut Bar Market Regional Insights
The regional segmentation of the Automotive Strut Bar Market offers valuable insights into the market's dynamics across different geographical regions. North America is expected to dominate the market, accounting for a significant share of the Automotive Strut Bar Market revenue in 2024 and beyond. The region's robust automotive industry, coupled with increasing demand for performance-enhancing components, drives growth in this market.
Europe follows closely behind, with a substantial market share attributed to the presence of major automotive manufacturers and a strong focus on vehicle safety and handling. The Asia-Pacific region is projected to witness significant growth over the forecast period, owing to the rapidly expanding automotive sector and rising disposable incomes.
South America and the Middle East & Africa regions are expected to contribute a smaller share to the Automotive Strut Bar Market, but they present opportunities for growth as automotive industries in these regions continue to develop.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Strut Bar Market Key Players and Competitive Insights:
Major players in the automotive strut bar market are constantly innovating and developing new products to meet the changing demands of customers. Leading players are also focusing on expanding their global presence through strategic partnerships and acquisitions. The Automotive Strut Bar Market is expected to witness significant growth in the coming years, driven by increasing demand from emerging markets and rising popularity of performance cars.
One of the leading companies in the automotive strut bar market is Cusco. Cusco is a Japanese company that specializes in the production of performance suspension parts. The company's strut bars are known for their high quality and durability. Cusco strut bars are used by a variety of professional racing teams and are also popular among enthusiasts.
A major competitor of Cusco in the Automotive Strut Bar Market is Whiteline. Whiteline is an Australian company that manufactures a wide range of suspension components. The company's strut bars are known for their strength and rigidity. Whiteline strut bars are used by a variety of racing teams and are also popular among enthusiasts.
Key Companies in the Automotive Strut Bar Market Include:
Automotive Strut Bar Market Developments
Recent developments in the Automotive Strut Bar Market indicate a growing demand for lightweight and high-performance suspension components. The increasing adoption of electric vehicles (EVs) is driving the need for lighter and more efficient suspension systems, which is fueling the growth of the automotive strut bar market. Additionally, the rising popularity of performance-oriented vehicles is contributing to the demand for strut bars, as they enhance handling and stability.
Key industry players are focusing on research and development (RD) to introduce innovative strut bar designs and materials. The use of advanced materials, such as carbon fiber and aluminum alloys, is gaining traction due to their lightweight and high-strength properties. Moreover, the integration of sensors and electronics into strut bars is expected to create new opportunities for advanced suspension systems.
Automotive Strut Bar Market Segmentation Insights
| Report Attribute/Metric | Details |
| Market Size 2022 | 7.34(USD Billion) |
| Market Size 2023 | 7.64(USD Billion) |
| Market Size 2032 | 11.0(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 4.13% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Skunk2, STILLEN, Progress, J's Racing, Super Pro, HKS, Whiteline, Hotchkis, Tanabe, Eibach, Ultra Racing, Megan Racing, Cusco, AEM, Godspeed |
| Segments Covered | Vehicle Type, Strut Type, Material, Adjustability, Application, Regional |
| Key Market Opportunities | 1 Increasing demand for performanceoriented vehicles2 Rising popularity of SUVs and crossovers3 Growing awareness of safety and handling benefits4 Expanding aftermarket5 Technological advancements in materials and design |
| Key Market Dynamics | Rising demand for performance vehicles Growing popularity of offroading Technological advancements Increasing safety regulations Expanding aftermarket |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Automotive Strut Bar Market is expected to witness a CAGR of 4.13% between 2023 and 2032.
The Automotive Strut Bar Market is anticipated to reach a valuation of 11.0 USD Billion by 2032.
The Asia-Pacific region is projected to capture a significant share of the Automotive Strut Bar Market by 2032.
Rising demand for enhanced vehicle stability and handling, increasing production of passenger cars, and growing popularity of performance-oriented vehicles are driving the market growth.
Automotive Strut Bars find applications in enhancing structural rigidity, improving vehicle handling, reducing body roll and vibrations, and increasing overall stability.
Key players in the Automotive Strut Bar Market include KW Automotive, Whiteline, Eibach, Cusco, and Megan Racing.
Fluctuations in raw material prices, intense competition, and stringent regulations pose challenges to the growth of the Automotive Strut Bar Market.
Adoption of lightweight materials, incorporation of advanced technologies, and increasing demand for aftermarket strut bars are emerging trends in the market.
The market is segmented based on material type, vehicle type, application, and region.
The Automotive Strut Bar Market is projected to be valued at 7.64 USD Billion in 2023.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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