Increasing adoption of electric vehicles expected to restrain growth of heavy vehicles suspension anti-vibration components market

Covid-19 pandemic made us witness downfall in the automotive industry. The demand and supply of various non-essential things decreased and thus, caused a huge negative impact on the global economy. However, with the containing of the covid-19 and vaccine being developed and distributed among citizens, the world is taking its pace again.

Considering the awareness regarding noise pollution, focus on building innovative and automotive things is increasing among the researchers. For reducing the irritating noise on road due to heavy vehicles, the demand for heavy vehicle suspension anti vibrational components is boosting.

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Prominent players are focusing on launching effective products at competitive costs. Top manufacturers in 2021 are involved in new product launches, collaborations, strategic alliances, joint ventures, mergers & acquisitions, research and developments, product innovations etc. to occupy a leading position in this market.

Key Developments in Heavy Vehicle Suspension Anti-Vibration Components

Recent developments taking place in the sector by the automotive companies are:

In January 2021, Talbros Chassis Systems Pvt. Ltd., the 50% JV Company of Talbros Automotive Components Limited today announced the deal of multi-million dollar deal with a European Car manufacturer. The order is for supplying Body in White design parts.

The order supplies will begin for JV Company’s plant in Pune, Maharashtra. The order further enhances the revenue growth visibility and will lead to operating leverage benefits due to low level of capex required to fulfill this order.

In March 2020, Hendrickson launched a new application in Apple and Android stores. The new application comprises a collection of Hendrickson products and training videos technician help, and field service request system for ease of access and reference.

Again in May 2020, Hendrickson Truck Commercial Vehicle Systems and Growler Manufacturing and Engineering announced a contract award from the US Marine Corps Systems to Command to upgrade the suspension system to Medium Heavy Equipment Transporter trailer. The agreement will fully support the US marine Corps requirement for dependability mobility and reduced cost of ownership.

Anti-vibration mounts or anti-vibration mountings help prevent the vibrations produced by vehicles while they are in motion. These devices are also called vibration isolation mountings, vibration isolation devices and isolator mountings.

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They are manufactured by companies in conformation with the standards and guidelines of the automotive industry. By absorbing the vibrations, these automotive anti-vibration mountings reduce the effect of the running engine, thereby ensuring smooth humming.

Heavy vehicle suspension anti-vibration components are specially designed and manufactured to lower the potentially irritating noise resulting from the operation of vehicles, industrial equipment and engines.

Different vibration isolator mounts available in the market are made from superior-quality material such as rubber, and are widely used in all vehicles around the world. Vibration from machines has led to different problems, such as machine life reduction, noise generation and vibration transmission, hence, anti-vibration components play a vital role in vehicles.

Dynamics:

The growing demand for Heavy Vehicles Suspension Anti-vibration Components can be attributed to their ability to reduce noise, which enables workers to operate vehicles without any problems.

Vibration caused by the engine of a vehicle is likely to cause vehicle failure, malfunctioning of parts and the like, and the usage of heavy vehicle suspension and anti-vibration components is necessary to prevent these problems.

The current trend of using advanced technology and equipment for better results is likely to increase the demand for advanced Heavy Vehicles Suspension Anti-vibration Components during the forecast period.

However, the increasing adoption of electric vehicles is expected to restrain the growth of the global heavy vehicles suspension anti-vibration components market. Moreover, the rising trend for repair rather than replacement is also likely to act as a major restraint.

Region-wise Outlook:

The growing automotive market in countries, such as India and China, makes Asia Pacific one of the fastest-growing region for heavy vehicles suspension anti-vibration components. China and India are prominently credited to escalate the heavy commercial vehicles for on-road as well as off- road applications.

An increase in the manufacturing of heavy vehicles in North America is anticipated to fuel the demand for heavy vehicles suspension anti-vibration components in this region. In Europe, the high demand for next-generation vehicles, such as long-range electric vehicles, is also expected to boost the share of heavy vehicles suspension anti-vibration components in this region in the coming years.

Latin America and Middle East & Africa are anticipated to witness lucrative growth in heavy vehicles suspension anti-vibration components over the forecast period. The growth of heavy vehicle suspension and anti-vibration mounts is high in the Middle East market. Japan is also expected to exhibit high potential due to the presence of a large number of OEMs in the country.

Participants:

Some of the key participants of Heavy Vehicles Suspension Anti-vibration Components Market are

  • Zone Industrielle du Coutal
  • ContiTech AG
  • United Rubber Industries (I) Pvt. Ltd.
  • Talbros
  • Hendrickson USA, L.L.C.
  • Wheels India Limited
  • J M Suspension Components
  • Guangdong Fuwa Engineering Group Co., Ltd.
  • York Transport Equipment (Asia) Pte Ltd.

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