In 2023, the sales for motor vehicle steering and suspension components (except springs) in the US were recorded at $15.8 billion. The forecast from 2024 to 2028 indicates steady growth in this sector. The year-on-year growth rates show consistent increases, highlighting an upward trend with variations from approximately 1.8% to 1.6% annually. The compound annual growth rate (CAGR) over this period is estimated at around 1.8%, signaling moderate yet stable growth.
Future trends to watch for include technological advancements in vehicle suspension systems and the growing adoption of electric vehicles, which may drive innovation and demand in this market segment. Additionally, regulatory changes related to safety and efficiency could impact future sales.
