Impact of COVID-19 on the Global Automotive Adaptive Suspension System Market
The automotive adaptive suspension systems market has been negatively impacted due to a fall in product demand in recent months owing to the lockdowns imposed in the majority of the countries. These lockdowns have resulted in temporarily halting the manufacturing of automobiles since its outbreak in December 2019. Several countries witnessed curfew-like situations where non-authorized people were not allowed to travel, which has impacted the demand for automobiles. The demand for automotive adaptive suspension systems is driven mainly by the production of automobiles. Adaptive suspension systems are being used in the newer models due to their flexibility and ease of use. The driver can switch between the comfort and sports modes, with a mere touch on the screen. The automobile industry is driven by the production and sale of self-powered vehicles, including passenger cars, trucks, buses, and other commercial vehicles. The development of roads, rising standards of living, and the increasing middle-class population in developing regions are the factors driving the automotive industry. The COVID-19 pandemic has hampered the demand for automobiles significantly; however, the demand for automobiles is anticipated to recover in the coming months as several governments prepare to uplift the lockdowns in a phased manner. As a result, the demand for automotive adaptive suspension systems is anticipated to grow in the coming months.
Adaptive suspension systems can control vehicle movements through onboard systems that detect the force applied to wheels. The detection of the force makes the chassis-level adjustment easier for better comfort. There are two types of suspensions, semi-active suspension, and active suspension. A suspension system in which only the shock absorbers are adjusted, is known as a semi-active suspension. In contrast, active suspension enhances the dynamics of the vehicle, such as comfort, vehicle control, and stability. The rise in sales of new vehicles is expected to boost the growth of the global automotive adaptive suspension systems market. The rising demand for automobiles is anticipated to fuel the demand for automotive adaptive suspension systems over the next few years.
Source: International Organization of Motor Vehicle Manufacturers (OICA)