In 2023, Germany led the European market for suspension systems and parts with a 31.77% share in euros, despite a slight decline of 0.47% compared to the previous year. Spain showed robust growth, increasing by 1.92% to capture 23% of the market. Italy, representing 15.83%, saw a decrease in its share by 1.23%. France exhibited a significant increase of 29.99%, holding a 7.24% share. The UK and Italy also faced contractions, whereas Romania and Finland showed strong growth rates of 7.47% and 7.79%, respectively. Croatia experienced a substantial decline of 23.57%.
Looking forward, the European market for suspension systems is poised to experience shifts driven by technological advancements, potentially benefiting countries with strong manufacturing bases. Watch for continued growth in Eastern European countries and increasing competition among leading nations, focusing on innovative materials and sustainable solutions to drive future market dynamics.
Top countries in Sold Production of Suspension Systems and Parts Share by Country (Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 31.77 | 2023 | +6.64% | -0.47% | View data |
| 2 | 2 Spain | 23 | 2023 | +5.89% | +1.92% | View data |
| 3 | 3 Italy | 15.83 | 2023 | +3.63% | -1.23% | View data |
| 4 | 4 Czechia | 12.13 | 2023 | |||
| 5 | 5 France | 7.24 | 2023 | +12.99% | +29.99% | View data |
| 6 | 6 United Kingdom | 5.86 | 2023 | -0.19% | -1.93% | View data |
| 7 | 7 Poland | 5.81 | 2023 | +2.57% | +2.76% | View data |
| 8 | 8 Romania | 4.55 | 2023 | +5.59% | +7.47% | View data |
| 9 | 9 Hungary | 1.08 | 2023 | +3.56% | +2.98% | View data |
| 10 | 10 Finland | 0.087 | 2023 | +3.95% | +7.79% | View data |
