LONDON--(BUSINESS WIRE)--The heavy-duty truck suspension system market is expected to grow by 120.02 thousand units during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the heavy-duty truck suspension system market in optimistic, probable, and pessimistic forecast scenarios.
The heavy-duty truck suspension system market will witness Negative and Inferior impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to Increase as compared to 2019.
Enterprises will go through Respond, Recover and Renew phases. Download free report sample
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through respond, recover and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID crisis and towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Heavy-duty Truck Suspension System Market Participants:
VDL Groep BV
VDL Groep BV operates its business under various segments such as subcontracting, car assembly, buses and coaches, and finished products. The company offers VDL Weweler suspension systems. The suspension series offered under VDL Weweler suspension systems include MBS-W, MBS-HD, MBS-HD Special, MBS-GF, MBS-Cobra, and others.
WABCO Holdings Inc.
WABCO Holdings Inc. offers OptiRide which is an air suspension system consisting of a control unit, solenoid valve, remote control unit, height sensor, pressure sensor, and cabin leveling valve for heavy commercial vehicles. The company also offers truck suspension. This product segment offers suspension systems for heavy-duty buses and trucks.
ZF Friedrichshafen AG
ZF Friedrichshafen AG has business operations under various segments, namely car powertrain technology, car chassis technology, commercial vehicle technology, industrial technology, e-mobility, and active & passive safety technology. The company offers AIRTRAC which is a configurable modular air suspension system for commercial trucks with 4x2, 6x4, or 6x2 axles. The company also offers commercial vehicle suspension. This product segment consists of cabin suspension systems for trucks, anti-roll bars, and other suspension components.
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Heavy-duty Truck Suspension System Market 2020-2024: Segmentation
Heavy-duty Truck Suspension System is segmented as below:
Gross vehicle weight rating
- Class 8
- Class 7
- North America
- South America
The heavy-duty truck suspension system market is driven by growing sales of heavy-duty trucks. In addition, other factors such as the development of standards for non-metallic air suspension system tubing with one or more layers is expected to trigger the heavy-duty truck suspension system market toward witnessing a CAGR of over 1% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
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