Advanced Suspension Control System Market is valued at USD 10.21 Billion in 2021 and expected to reach USD 17.66 Billion by 2028 with a CAGR of 8.13% over the forecast period.
The Advanced Suspension Control System enhances the quality of car rides by optimizing and controlling the vehicle body movement and wheels. The output from different sensors throughout the vehicle is detected by onboard computer which controls the vehicle suspension system. This system is beneficial for situations like acceleration, braking and cornering. The system works on the principle of Skyhook theory, where vehicle will maintain stable posture with the help of ideal suspension by imaginary hook and stay unaffected by road conditions. The suspension systems has been developed and modified over the years and now advanced version like Adaptive or Active based Suspension Systems are adopted globally. The other benefits of Advanced Suspension Control System are: maintaining correct vehicle height, reduce shock forces, correct wheel alignment, vehicle direction control and support vehicle’s weight.
The COVID-19 pandemic has hit hard the automobile industry and experienced the sudden downfall owing to the government-imposed lockdown which led to the shutdown of manufacturing units for months. Automotive Industry was greatly impacted in the initial phase of pandemic lockdown due to less consumption demand but now slowly recovering by increase in productivity and workforce engagement and strategic response by different automotive manufacturers and automobile companies.
Global Advanced Suspension Control System Market report is segmented on the basis of Type, Vehicles and region & country level. On the basis of Types, it is classified as Active and Semi-Active Suspension System. Based upon the Vehicles, global Advanced Suspension Control System market is classified into Passenger Vehicles and Commercial Vehicles.
The regions covered in this Global Advanced Suspension Control System Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Advanced Suspension Control System is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia, Africa, etc.
January 20, 2021; Tesla’s Model Y and Model 3 got update hints to owner’s manual about the adjustment in suspension system for all electric sedan and crossovers. The features resemble the air suspension used by company in Tesla Model X. The adjustable suspension were shared online and known as 2020 Holiday Update.
January 19, 2021; Porsche has decided to celebrate Boxster 25 years by new special edition and delivering only 1250 units globally. This limited edition comes with six-speed manual gearbox and seven speed as optional, Active Suspension Management System lowers car’s height by 10mm also adds adaptive dampers, mechanical limited slip differential and torque vectoring system.
The major factors driving the growth of global Advanced Suspension Control System market is rising demand for sports and luxury cars with high comfort. Additionally, increased use of electronic component in the vehicles as well as technological advancement are also expected to contribute the market growth. Furthermore, Stringent regulatory policies to ensure the safety of vehicle has also created the demand for Advanced Suspension Control System. However, high maintenance cost as well as lack of standardized manufacturing for such systems are likely to hamper the market growth. On the other hand, Improvement in design technologies and vehicle safety features followed by research and innovation is expected to create ample opportunities for Advanced Suspension Control System Market.
Europe is expected to dominate the global Advanced Suspension Control System market within the forecast period attributed to availability of advanced technology, infrastructure along with demand of advanced safety arrangements. Many reputed suspension control system manufacturers are situated in European countries contributing significantly to the global suspension control systems market like Bilstein, Eibach, KW and more. For example: Bilstein, most popular suspension brand offers unique technologies like monotube gas pressure shock absorbers with other suspension features. These manufacturers have also set their range to North America which is also expecting to grow in Advanced Suspension Control Systems Market. Asia Pacific is expected to show significant growth owing to the rising demand for sports vehicles and increase in adventure sports such as dirt racing and others. This in turn created the demand for Advanced Suspension Control System in the region and promote the market growth over the forecast period.
Middle East and Africa
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 10.21 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||8.13%|
|Market Size Expected in 2028:||USD 17.66 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Infineon Technologies,Continental,BWI Group,Mando Co,ThyssenKrupp,Lord,Hitachi Automotive systems,Magneti Marelli,Schaeffler AG,and others.|
|Segments Covered||By Type,By Vehicle|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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