Advanced Suspension Control System Market

Market Overview 2023-2028:

The global advanced suspension control system market size reached US$ 14.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 24.7 Billion by 2028, exhibiting a growth rate (CAGR) of 8.73% during 2023-2028.

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 2023-2028. 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: