Advanced Suspension Control System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Advanced Suspension Control System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A2616
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Market Overview 2022-2027:

The global advanced suspension control system market size reached US$ 13.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 22.7 Billion by 2027, exhibiting a growth rate (CAGR) of 8.97% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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:

IMARC Group 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 2022-2027. Our 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage System Type, Component, Vehicle, Vehicle Type, Sales Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Advanced Suspension Control System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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