The global advanced suspension control system market size reached US$ 16.1 Billion in 2023. Looking forward, the market is projected to reach US$ 32.3 Billion by 2032, exhibiting a growth rate (CAGR) of 8.04% during 2023-2032.
An advanced suspension control system refers to an automobile component that is designed to provide enhanced support to the vehicle body. It provides suspension to tires, through springs, shock absorbers and linkages, which connect the vehicle to the wheels and facilitates relative motion between the two. The system can decelerate the speed of the vehicle and minimize suspension deflection, which improves vehicle maneuverability by managing road-holding and ride quality. In comparison to the traditionally used suspension control systems, these advanced variants are more robust and can be used for compact and mid-size cars, along with light and heavy commercial vehicles.
Significant growth in the automotive industry and the increasing demand for lightweight and energy-efficient components, represent as the key factors creating a positive outlook for the market. Furthermore, the rising demand for semi-utility vehicles (SUVs) and luxurious sports cars is also augmenting the market growth. Advanced suspension control systems can adapt to the vehicle’s leveling and damping properties, which aid in improving the performance and overall safety and comfort for the driver. Additionally, various technological advancements, such as the development of suspension control systems with minimal tailpipe emissions, are acting as other growth-inducing factors.
Product manufacturers are creating electronically controlled air suspension systems that are integrated with hydraulic and mechanical components for superior oil flow and control of spring and damping forces. Other factors, including improvements in the design and manufacturing techniques of suspension systems, along with extensive research and development (R&D) activities, are anticipated to drive the market further.
2. What is the expected growth rate of the global advanced suspension control system market during 2024-2032?
3. What has been the impact of COVID-19 on the global advanced suspension control system market?
4. What are the key factors driving the global advanced suspension control system market?
5. What is the breakup of the global advanced suspension control system market based on the system type?
6. What is the breakup of the global advanced suspension control system market based on the component?
7. What is the breakup of the global advanced suspension control system market based on the vehicle?
8. What is the breakup of the global advanced suspension control system market based on the vehicle type?
9. What is the breakup of the global advanced suspension control system market based on the sales channel?
10. What are the key regions in the global advanced suspension control system market?
11. Who are the key players/companies in the global advanced suspension control system market?
An advanced suspension control system refers to an automobile component that is designed to provide enhanced support to the vehicle body. It provides suspension to tires, through springs, shock absorbers and linkages, which connect the vehicle to the wheels and facilitates relative motion between the two. The system can decelerate the speed of the vehicle and minimize suspension deflection, which improves vehicle maneuverability by managing road-holding and ride quality. In comparison to the traditionally used suspension control systems, these advanced variants are more robust and can be used for compact and mid-size cars, along with light and heavy commercial vehicles.
Significant growth in the automotive industry and the increasing demand for lightweight and energy-efficient components, represent as the key factors creating a positive outlook for the market. Furthermore, the rising demand for semi-utility vehicles (SUVs) and luxurious sports cars is also augmenting the market growth. Advanced suspension control systems can adapt to the vehicle’s leveling and damping properties, which aid in improving the performance and overall safety and comfort for the driver. Additionally, various technological advancements, such as the development of suspension control systems with minimal tailpipe emissions, are acting as other growth-inducing factors.
Product manufacturers are creating electronically controlled air suspension systems that are integrated with hydraulic and mechanical components for superior oil flow and control of spring and damping forces. Other factors, including improvements in the design and manufacturing techniques of suspension systems, along with extensive research and development (R&D) activities, are anticipated to drive the market further.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global advanced suspension control system market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on system type, component, vehicle, vehicle type and sales channel.Breakup by System Type:
- Semi-Active Suspension System
- Active Suspension System
Breakup by Component:
- Springs
- Shock Dampeners
- Struts
- Control Arms
- Ball Joints
- Others
Breakup by Vehicle:
- Passenger Cars
- Commercial Vehicles
- Others
Breakup by Vehicle Type:
- Conventional
- Gasoline-Based
- Diesel-Based
- Hybrid
- Electric
Breakup by Sales Channel:
- OEMs
- Aftermarket
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined with some of the key players being BWI Group, Continental AG, Hitachi Automotive Systems Ltd., Infineon Technologies AG, Lord Corporation, Marelli Europe S.P.A., Schaeffler AG, The Mando Corporation, ThyssenKrupp AG and ZF Friedrichshafen AG.Key Questions Answered in This Report
1. What was the size of the global advanced suspension control system market in 2023?2. What is the expected growth rate of the global advanced suspension control system market during 2024-2032?
3. What has been the impact of COVID-19 on the global advanced suspension control system market?
4. What are the key factors driving the global advanced suspension control system market?
5. What is the breakup of the global advanced suspension control system market based on the system type?
6. What is the breakup of the global advanced suspension control system market based on the component?
7. What is the breakup of the global advanced suspension control system market based on the vehicle?
8. What is the breakup of the global advanced suspension control system market based on the vehicle type?
9. What is the breakup of the global advanced suspension control system market based on the sales channel?
10. What are the key regions in the global advanced suspension control system market?
11. Who are the key players/companies in the global advanced suspension control system market?
Table of Contents
1 Preface3 Executive Summary13 Value Chain Analysis
2 Scope and Methodology
4 Introduction
5 Global Advanced Suspension Control System Market
6 Market Breakup by System Type
7 Market Breakup by Component
8 Market Breakup by Vehicle
9 Market Breakup by Vehicle Type
10 Market Breakup by Sales Channel
11 Market Breakup by Region
12 SWOT Analysis
14 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- BWI Group
- Continental AG
- Hitachi Automotive Systems Ltd.
- Infineon Technologies AG
- Lord Corporation
- Marelli Europe S.P.A.
- Schaeffler AG
- The Mando Corporation
- ThyssenKrupp AG
- ZF Friedrichshafen AG
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 16.1 Billion |
| Forecasted Market Value ( USD | $ 32.3 Billion |
| Compound Annual Growth Rate | 8.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
