To know the impact of COVID-19 On Advanced Suspension Control System Market: Global Industry Analysis 2015 to 2020 and Opportunity Assessment 2021 to 2027 Market
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
Advanced Suspension Control System Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027. Demand in Safe Riding/Driving Features is a key driving factor for the growth of Advanced Suspension Control System Market.
Advanced Suspension Control System Market is valued at USD 48.89 Billion in 2017 and expected to reach USD 73.07 Billion by 2027 with a CAGR of 3.89% over the forecast period.
Scope of Advanced Suspension Control System Market Report:
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.
Global Advanced Suspension Control System Market Segmentation:
- Active Suspension System
- Semi-Active Suspension System
- Passenger Vehicle
- Commercial Vehicle
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.
Key Players for Global Advanced Suspension Control System Market Report:
Some major key players for Global Advanced Suspension Control System Market are Infineon Technologies, Continental, BWI Group, Mando Co, ThyssenKrupp, Lord, Hitachi Automotive systems, Magneti Marelli, Schaeffler AG, and others.
News: Tesla Model’s updated Manual hints for Suspension
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.
Porsche Boxster celebrates roadster’s Silver Jubilee
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.
Rising demand for luxury and sports car as well as increased use of electronic components is a key driving factor for the growth of Advanced Suspension Control System Market
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 dominating the Global 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.
Key Benefits for Global Advanced Suspension Control System Market Report:
- Global Advanced Suspension Control System Market report covers in-depth historical and forecast analysis.
- Global Advanced Suspension Control System Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
- Global Advanced Suspension Control System Market report helps to identify opportunities in marketplace.
- Global Advanced Suspension Control System Market report covers extensive analysis of emerging trends and competitive landscape.
Advanced Suspension Control System Market By Regional & Country Level:
- Southeast Asia
Middle East and Africa
- Rest of Middle East and Africa
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Advanced Suspension Control System Market: Global Industry Analysis 2015 to 2020 and Opportunity Assessment 2021 to 2027
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