The forecasted gross output for the US motor vehicle steering, suspension, and brake systems manufacturing industry shows a steady increase from 2024 through 2028. Starting at $30.84 billion in 2024 and reaching $32.67 billion by 2028, the industry is projected to grow modestly year-on-year, at approximately 1.5% on average. The Compound Annual Growth Rate (CAGR) for the forecast period is anticipated to be around 1.44%. In 2023, the actual gross output was $30.38 billion, indicating a stable upward trend.

Future trends to watch for:

Technological advancements in vehicle components that could drive further growth.
Environmental regulations influencing the development of more sustainable manufacturing practices.
Potential global supply chain disruptions impacting the US market.