Global Suspension Lift Kits Market By Types (Spring Suspension Lift Kits, Coil Suspension Lift Kits, Shackle Suspension Lift Kits, Others), Vehicle Types (Jeep, SUVs, Trucks, Others), and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Market Outlook:
The global suspension lift kits market was valued at USD 194.0 Mn in 2020 and is projected to reach USD 246.5 Mn by 2028, expanding at a CAGR of 3.3% during the forecast period. Several emerging trends in the automobile industry have fueled the demand for shackle suspension lift kits, which in turn, is creating opportunities in the global market. Key players in the market are engaged in increasing acquisitions of regional players to expand their sales portfolio across multiple countries in the world. Mergers and partnerships help companies boost production hubs and increase distribution outlets pertaining suspension lift kits. The market is growing significantly as the installation of suspension lift kits bring a number of benefits. The installation of suspension lift kits provides jerk-free drives off roads. Moreover, increasing product penetration in numerous developing countries across the globe is expected to fuel the market during the forecast period.
Market Dynamics
Increase in the Demand for Better Visibility
Lifted vehicle aid increase the distance between its undercarriage and the road surface. The installation of suspension lift kits promotes smooth and safe drive over bumpy roads and damaged streets. The possibility of visualizing more road is very useful for off road areas and crowded urban zones. This helps to notice potential dangers sooner and have a better view of various areas, thereby driving the demand for suspension lift kits.
Growth in Preference of Bigger Tires
Bigger tires helps in better performance of vehicles, as they can move easily over the snow and sludge. They are precisely designed to be used for off-roads. Big tires increase the space between the deep or dense snow and the automobile makes it easy for the driver to drive over it, which in turn, fuels the demand for suspension lift kits.
High Maintenance and Replacement Costs
The installation of suspension lift kit is time consuming and expensive. Often, supporting hardware used in suspension lift kits of trucks need to be replaced. Such expenditure on the replacement of parts can hinder the market. For instance, the coil suspension lift kit can be easily corroded by water, snow, or road temperatures. The coil suspension cannot be mended and needs to be replaced.
The leaf suspension kits sag over time and require replacement, as welding cannot bring back the smoothness of suspension, thereby, hampering the segment of the market.
Rise in Demand for Innovation in Racing Cars
Jerk-free driving over race tracks requires the installation of suspension lift kits. These kits raise the automobiles by nearly one inch from its original ground level. Light-weight, small, and adjustable coilovers attract the drivers of low profile racing automobiles. Rising participation in car races is expected to create opportunities in the market.
Segmental Outlook
On the basis of types, the suspension lift kits market is divided into spring suspension lift kits, coil suspension lift kits, shackle suspension lift kits and others. The spring suspension lift kits segment held 41.0% share of the market in 2019, as it is majorly used in automobiles. The coil suspension lift kits segment requires low maintenance costs and is anticipated to expand at a CAGR of 3.6% during the forecast period.
Based on vehicle types, the suspension lift kits market is classified as jeep, SUV, trucks, and others. The trucks segment accounted for 30.1% share of the market in 2019 and is expected to expand at a substantial CAGR during the forecast period. The SUV segment is projected to grow at a significant pace during the forecast period, as they are preferred for traveling by millennials.
Regional Outlook
In terms of regions, the global market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a promising region for the market. The region constituted 12.2% share of the global market in 2019. The market in North America is expected to grow due to the presence of major manufacturers.
The market in Latin America is projected to expand at a CAGR of 3.0% during the forecast period, owing to the penetration of players in the region. Increase in the number of small businesses in Latin America and growth of the automobile industry are encouraging key players to increase their marketing campaigns in the region.
The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period due to the rise in demand for suspension lift kits among consumers and increasing product awareness. Key players are engaged in promoting suspension lift kits among consumers in developed economies of Asia Pacific through marketing.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Suspension Lift Kits Market
- Historical, Current and Projected Market Size in terms of Value
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global suspension lift kits Market Performance
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Suspension Lift Kits Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Suspension Lift Kits Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Suspension Lift Kits Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Suspension Lift Kits Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Suspension Lift Kits Market Size & Forecast, 2017-2027
4.5.1 Suspension Lift Kits Market Size and Y-o-Y Growth
4.5.2 Suspension Lift Kits Market Absolute $ Opportunity
Chapter 5 Global Suspension Lift Kits Market Analysis and Forecast by Types
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Types
5.1.2 Basis Point Share (BPS) Analysis by Types
5.1.3 Absolute $ Opportunity Assessment by Types
5.2 Suspension Lift Kits Market Size Forecast by Types
5.2.1 Spring Suspension Lift Kits
5.2.2 Coil Suspension Lift Kits
5.2.3 Shackle Suspension Lift Kits
5.2.4 Others
5.3 Market Attractiveness Analysis by Types
Chapter 6 Global Suspension Lift Kits Market Analysis and Forecast by Vehicle Types
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Vehicle Types
6.1.2 Basis Point Share (BPS) Analysis by Vehicle Types
6.1.3 Absolute $ Opportunity Assessment by Vehicle Types
6.2 Suspension Lift Kits Market Size Forecast by Vehicle Types
6.2.1 Jeep
6.2.2 SUV
6.2.3 Trucks
6.2.4 Others
6.3 Market Attractiveness Analysis by Vehicle Types
Chapter 7 Global Suspension Lift Kits Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Suspension Lift Kits Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Suspension Lift Kits Analysis and Forecast
9.1 Introduction
9.2 North America Suspension Lift Kits Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Suspension Lift Kits Market Size Forecast by Types
9.6.1 Spring Suspension Lift Kits
9.6.2 Coil Suspension Lift Kits
9.6.3 Shackle Suspension Lift Kits
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Types
9.8 Absolute $ Opportunity Assessment by Types
9.9 Market Attractiveness Analysis by Types
9.10 North America Suspension Lift Kits Market Size Forecast by Vehicle Types
9.10.1 Jeep
9.10.2 SUV
9.10.3 Trucks
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Vehicle Types
9.12 Absolute $ Opportunity Assessment by Vehicle Types
9.13 Market Attractiveness Analysis by Vehicle Types
Chapter 10 Europe Suspension Lift Kits Analysis and Forecast
10.1 Introduction
10.2 Europe Suspension Lift Kits Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Suspension Lift Kits Market Size Forecast by Types
10.6.1 Spring Suspension Lift Kits
10.6.2 Coil Suspension Lift Kits
10.6.3 Shackle Suspension Lift Kits
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Types
10.8 Absolute $ Opportunity Assessment by Types
10.9 Market Attractiveness Analysis by Types
10.10 Europe Suspension Lift Kits Market Size Forecast by Vehicle Types
10.10.1 Jeep
10.10.2 SUV
10.10.3 Trucks
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Vehicle Types
10.12 Absolute $ Opportunity Assessment by Vehicle Types
10.13 Market Attractiveness Analysis by Vehicle Types
Chapter 11 Asia Pacific Suspension Lift Kits Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Suspension Lift Kits Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Suspension Lift Kits Market Size Forecast by Types
11.6.1 Spring Suspension Lift Kits
11.6.2 Coil Suspension Lift Kits
11.6.3 Shackle Suspension Lift Kits
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Types
11.8 Absolute $ Opportunity Assessment by Types
11.9 Market Attractiveness Analysis by Types
11.10 Asia Pacific Suspension Lift Kits Market Size Forecast by Vehicle Types
11.10.1 Jeep
11.10.2 SUV
11.10.3 Trucks
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Vehicle Types
11.12 Absolute $ Opportunity Assessment by Vehicle Types
11.13 Market Attractiveness Analysis by Vehicle Types
Chapter 12 Latin America Suspension Lift Kits Analysis and Forecast
12.1 Introduction
12.2 Latin America Suspension Lift Kits Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Suspension Lift Kits Market Size Forecast by Types
12.6.1 Spring Suspension Lift Kits
12.6.2 Coil Suspension Lift Kits
12.6.3 Shackle Suspension Lift Kits
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Types
12.8 Absolute $ Opportunity Assessment by Types
12.9 Market Attractiveness Analysis by Types
12.10 Latin America Suspension Lift Kits Market Size Forecast by Vehicle Types
12.10.1 Jeep
12.10.2 SUV
12.10.3 Trucks
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Vehicle Types
12.12 Absolute $ Opportunity Assessment by Vehicle Types
12.13 Market Attractiveness Analysis by Vehicle Types
Chapter 13 Middle East & Africa (MEA) Suspension Lift Kits Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Suspension Lift Kits Market Size Forecast by Country
13.2.1 GCC
13.2.2 South Africa
13.2.3 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Suspension Lift Kits Market Size Forecast by Types
13.6.1 Spring Suspension Lift Kits
13.6.2 Coil Suspension Lift Kits
13.6.3 Shackle Suspension Lift Kits
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Types
13.8 Absolute $ Opportunity Assessment by Types
13.9 Market Attractiveness Analysis by Types
13.10 Middle East & Africa (MEA) Suspension Lift Kits Market Size Forecast by Vehicle Types
13.10.1 Jeep
13.10.2 SUV
13.10.3 Trucks
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Vehicle Types
13.12 Absolute $ Opportunity Assessment by Vehicle Types
13.13 Market Attractiveness Analysis by Vehicle Types
Chapter 14 Competition Landscape
14.1 Suspension Lift Kits Market: Competitive Dashboard
14.2 Global Suspension Lift Kits Market: Market Share Analysis, 2019
14.3 Company Profiles (Details - Overview, Financials, Developments, Strategy)
14.3.1 Rough Country
14.3.2 Skyjacker
14.3.3 Supreme Suspensions
14.3.4 Fulcrum Suspensions
14.3.5 ReadyLift
14.3.6 Pro Comp
14.3.7 Eibach
14.3.8 Fabtech
14.3.9 Rancho
14.3.10 Tuff Country
14.3.11 Kelderman
14.3.12 Superlift Suspension Systems
14.3.13 Zone Offroad Products.
14.3.14 Daystar
By Types
- Spring Suspension Lift Kits
- Coil Suspension Lift Kits
- Shackle Suspension Lift Kits
- Others
- Jeep
- SUVs
- Trucks
- Others
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Rough Country
- Skyjacker
- Rocky Mountain Suspension
- Supreme Suspensions
- Fulcrum Suspensions
- BDS Suspension
- ReadyLift
- Pro Comp
- Bilstein
- Eibach
- Fabtech
- Rancho
- Tuff Country
- Kelderman
- Top players in the market include Rough Country, Supreme Suspensions, Fulcrum Suspensions, Pro Comp, and ReadyLift. These companies are considered as key manufacturers of suspension lift kits based on their revenue, product offerings, regional presence, and supply chain management system.
- The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where potential opportunity for the suspension lift kits market.
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FAQ Section
Some frequently asked quetions about this report!
Additional company profiles can be provided on request
According to this Growth Market Reports report, the suspension lift kits market is likely to register a CAGR of 3.3% during forecast period 2020-2028, with an anticipated valuation of USD 246.5 million by the end of the 2028.
In addition to market size (in US$ Million), Company Market Share (in % for base year 2020), and quality parameter overview is provided.
Smooth drive over natural terrain and off roads, increasing product penetration in retail channels, growing preference for suspension lift kits among millennials, and increasing advisements on social media are the factors expected to drive the market growth during forecast period.
The major consumers of suspension lift kits are owners of automobiles such as jeeps, SUVs, mini trucks and trucks
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to slight decrease in growth between 2019 and 2020 owing to the COVID 19 pandemic on the suspension lift kits market.
The base year considered for the global suspension lift kits market report is 2020. The complete analysis period is 2017 to 2028, wherein, 2017, 2018 and 2019 are the historic years, and the forecast is provided from 2020 to 2028.
Factors such as disposable income, urbanization, cost, government policies and import/export are analyzed in the final report.
Major manufacturers include, Rough Country, Supreme Suspensions, Fulcrum Suspensions, Pro Comp, ReadyLift and others.
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