According to new research from Research Nester “Automotive Adaptive Suspension System Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the automotive adaptive suspension system market in terms of market segmentation by type, by actuator type, by vehicle type, by sales channel and by region.
Further, for in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The automotive adaptive suspension system market is segmented by vehicle type into passenger and commercial, out of which passenger segment is anticipated to hold the largest market share, on account of growing sales of passenger vehicles followed by rise in the disposable incomes of individuals globally, combined with the need for safety, comfort and performance.
The automotive adaptive suspension system market is anticipated to record a significant CAGR during the forecast period, i.e. 2019-2027. Growing consumer needs such as greater levels of comfort driving, performance standards of vehicles and various other factors have resulted in the growth of sales of premium category passenger vehicles segment. This factor has caused vehicle OEMs to shift their focus towards automotive adaptive suspension systems, which is estimated to increase their demand over the forecast period.
Regionally, the automotive adaptive suspension system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Growth in the sales of passenger vehicles in the regions of Asia-Pacific and Middle East, owing to rise in disposable incomes in these regions are estimated to propel the demand for automotive adaptive suspension systems, thereby contributing to the growth of the market over the forecast period. Moreover, growing demand for luxury vehicles with high safety standards and added features such as advanced stability and performance in the European region are estimated to support the growth of the market in the European region over the forecast period.
Rising Need For Advanced Suspension Systems
There is a shift in focus noticed among customers towards adopting vehicles that offer luxury and comfort. Rising technological advancements have led to the development of modern suspension systems in vehicles. Rise in disposable incomes in various economies have also led to the growth in sales of passenger vehicles segment in the premium category. All of these factors are anticipated to contribute significantly towards the growth of the market over the forecast period.
However, the automotive adaptive suspension system caters primarily to the population belonging to the luxury segment, owing to the high costs associated with its installation in vehicles. This factor is anticipated to operate as a key restraint to the growth of the automotive adaptive suspension system market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the automotive adaptive suspension system market, which includes company profiling of Continental AG (ETR: CON), Infineon Technologies (ETR: IFX), ThyssenKrupp AG (ETR: TKA), Mando Corporation (KRX: 204320), LORD Corporation, Benteler International Aktiengesellschaft, KYB Corporation (TYO: 7242), Schaeffler AG (ETR: SHA), Tenneco Inc. (NYSE: TEN) and WABCO Holdings Inc. (NYSE: WBC). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the automotive adaptive suspension system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.