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Advanced Suspension Control System Market Research Report – Forecast to 2030

Advanced Suspension Control System Market Information Report by technology (Semi-active suspension system, Active suspension system), vehicle type (Passenger Cars and Commercial Vehicles), Region (North America, APAC, Europe, ROW) - Forecast To 2030

ID: MRFR/AM/4591-HCR | December 2022 | Region: Global | 100 Pages         

Advanced Suspension Control System Market

The Global Advanced Suspension Control System Market Size is expected to cross USD 22.60 billion by 2030 at a CAGR of 9% during the forecast period ending in 2030

Segmentation

By technology Semi-active suspension system Active suspension system
By vehicle type Passenger Cars Commercial Vehicles

Key Players

  • Continental AG (Germany)
  • ThyssenKrupp AG (Germany)
  • Infineon Technologies AG (Germany)
  • BWI Group (China)
  • The Mando Corporation (South Korea)
  • Lord Corporation (U.S.)
  • Schaeffler AG (Germany)
  • ZF Friedrichshafen AG (Germany)
  • Magneti Marelli S.p.A (Italy)
  • Hitachi Automotive Systems (Japan)
  • others.

Drivers

  • Availability of modern infrastructure facilities and the boom in demand for automobiles are further driving the growth of the market
  • Decrease in the number of moving parts in the system
  • thereby leading to the adoption of energy-efficient
  • advanced suspension technologies by the automotive industry.
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Advanced Suspension Control System Market Synopsis


An advanced suspension control system can decelerate the sprung mass's speed constantly and minimize the suspension deflection, thereby improving the traction on-road and enhancing vehicle maneuver. An advanced suspension control system is one of the essential suspension technologies adopted by key manufacturers. The vehicle's advanced suspension control system has a powerful impact on the stability, handling, durability, and driving capability of any vehicle, depending on the terrain. Such factors will lead to the growth of the advanced suspension control system market in the coming years.


The significant factors that impact the growth of the advanced suspension control system market are an increase in suspension systems in luxury & sports cars and an increase in the use of electronic components in vehicles with rapid technological advancements. However, massive expenditure for repair & replacement and lack of standardization in manufacturing such systems hamper the growth of the advanced suspension control system market. Furthermore, a rise in awareness of safety & comfort among customers and an increase in demand for electric & connected cars are expected to fuel the growth of the advanced suspension control system market.


The advanced suspension control system market is majorly being driven by the increase in use of such systems in luxury and sports cars. These systems have the capability of adapting to both vehicle’s leveling and damping characteristics, which further help in improving the car comfort, handling performance and driving safety. The growth of this advanced suspension control system market will also be driven by the increase in use of electronics in vehicles, the rapid technological advancements for development of advanced suspension control systems, growth in the sales of automobiles, and poor road/highway infrastructure in developing nations. The automotive governing councils and institutions in various developing and developed nations have enforced strict regulatory norms, which are driving the need for use of lightweight materials in vehicles. This results in a decrease in the number of moving parts in the system, thereby leading to the adoption of energy-efficient, advanced suspension technologies by the automotive industry. 


Advanced Suspension Control System Market Key Players:


The prominent players in the advanced suspension control system market include Continental AG (Germany), ThyssenKrupp AG (Germany), Infineon Technologies AG (Germany), and BWI Group (China). The Mando Corporation (South Korea), Lord Corporation (U.S.), Schaeffler AG (Germany), ZF Friedrichshafen AG (Germany), Magneti Marelli S.p.A (Italy), and Hitachi Automotive Systems (Japan) are among others. 


Recent Developments


The increase in the luxury system in cars and demand for sports cars has resulted in the increased demand for suspension systems. It is attributed to the fact that suspension systems decelerate the speed of the sprung mass constantly and improve the traction on the road. Therefore, the increase in demand for sports cars leads to the growth of the advanced suspension control system market.


The introduction of stringent safety norms and increased electronic components' implementation in vehicles have made the market highly competitive. Vendors focus on developing lightweight and ride enhancing technologies, thereby leading to the market's growth. Moreover, manufacturers are also setting up facilities worldwide for the development of products. These factors are expected to drive the growth of the advanced suspension control system market shortly.


However, the growth of this advanced suspension control system market is expected to be restrained by factors such as huge expenditures for repair and replacement, introduction of strict government regulations, and lack of standardization for manufacturing of such systems.


Advanced Suspension Control System Market Segments


Advanced Suspension Control System Market


Advanced Suspension Control System Market Regional Analysis


Geographically, the global advanced suspension control system market has been divided into four major regions such as North America, Europe, Asia Pacific and Rest of the World. Amongst all regions, Europe is expected to dominate the growth of the market owing to the existence of a large number of luxury vehicle manufacturers in the region. The existence of major advanced suspension control system manufacturers in the region such as Infineon Technologies AG, ThyssenKrupp AG, and Continental AG is expected to drive the growth of the region over the forecast period.  Availability of modern infrastructure facilities and the boom in demand for automobiles are further driving the growth of the market. 


The report for Global Advanced Suspension Control System Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   9% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered

  • Technology
  • Vehicle type
  •   Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Continental AG (Germany), ThyssenKrupp AG (Germany), Infineon Technologies AG (Germany), and BWI Group (China). The Mando Corporation (South Korea), Lord Corporation (U.S.), Schaeffler AG (Germany), ZF Friedrichshafen AG (Germany), Magneti Marelli S.p.A (Italy), and Hitachi Automotive Systems (Japan) are among others.
      Key Market Opportunities   Decrease in the number of moving parts in the system, thereby leading to the adoption of energy-efficient, advanced suspension technologies by the automotive industry.
      Key Market Drivers   Availability of modern infrastructure facilities and the boom in demand for automobiles are further driving the growth of the market.


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    Frequently Asked Questions (FAQ) :

    A CAGR potential of 9% is expected to become evident in the coming period.

    Infineon Technologies AG (Germany), The Mando Corporation (South Korea), and BWI Group (China) are the chiefs in the market.

    The European region is estimated to establish its supremacy in the market.

    The swift pace of technological progress is projected to boost the market in the coming years.

    Technology, Vehicle Type, and Region are the segments in the market.