Automotive Adaptive Suspension System Market

Automotive Adaptive Suspension System Market Segmentation By Type (Semi-Active And Active Suspension), By Actuator Type (Hydraulics, Electromagnetic And Pneumatic Valve Systems), By Vehicle Type (Passenger And Commercial Vehicle) And By Sales Channel (Original Equipment Manufacturer And Aftermarket) – Global Demand Analysis & Opportunity Outlook 2027

Buy Now
Report ID: 1913 | Published On: Apr 07, 2022

Preview Analysis

Request Insights
Despite Inflation & Recession News, Businesses Across the Globe Expected to Do Better in 2023

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


In The News


Introduction to Automotive Adaptive Suspension System

Suspension system in the automotive industry is  a tool used to minimize the shock absorbed by the body of the vehicle, while moving on a surface. The prime goal of the automotive adaptive suspension system is to keep the tires in constant contact with the surface, regardless of the contours that comes through its way.

Springs are a key component of the automotive adaptive suspension system. It is classified into leaf springs, coil springs and torsion bars. Most of the light commercial vehicles use coil and leaf springs, while passenger vehicles use light coil springs in their automotive adaptive suspension systems. Leaf springs or air suspension are being used in heavy commercial vehicles.

Technical advances in automotive adaptive suspension systems has resulted into the innovation of electrical generator suspension and Magic Body Control® suspension. Electrical generator suspension is in its nascent phase and serves its usual purpose of absorbing shock, along with generation of energy needs of the vehicle.

The Magic Body Control® is a registered technology owned by Mercedes Benz, used especially in its S-class vehicles. This suspension system uses stereo camera installed in the windshield or rear view mirrors. It uses sensors to analyze the front surface, up to a distance of 50 meters. The microprocessor uses these data to adjust the vehicle’s suspension, providing the rider an extra edge by maximizing its comfort levels.


Market Size And Forecast

In a report stated by Organisation Internationale des Constructeurs d’Automobiles (OICA), which is the international organization of motor vehicle manufacturers, an international trade association of thirty nine members of national automotive industry, reported that sales of passenger vehicles of the world increased from 49.7 million in 2009 to 68.7 million in 2018, growing at average annual rate of 3.74%, whereas sales of  commercial vehicles of the world increased from 15.9 million in 2009 to 26.4 million in 2018, growing at an average annual rate of 5.89%.

The market of automotive adaptive suspension system market is observing vibrant growth on account of increasing number of automobiles sold globally.  Additionally, rising demand for regenerative lightweight suspension systems that increases rider comfort levels in a vehicle is another major factor propelling the growth of the automotive adaptive suspension system market. 

Automotive Adaptive Suspension System Graph

Get more information on this report: Download Sample PDF

The market is anticipated to record robust CAGR throughout the forecast period, i.e. 2019 – 2027. The automotive adaptive suspension system market is segmented by vehicle type into passenger and commercial, out of which the passenger segment is anticipated to hold the  largest market share, owing to increasing disposable income of the individuals in developing economies that is estimated to drive the sales of passenger vehicles over the forecast period.


Growth Drivers

Rising Need For Advanced Suspension Systems

Vehicles in the twentieth century have observed rapid technological advancements. Hunger for comfort, luxury, driving passion and best in class riding performances, combined with increasing disposable incomes to purchase premium category passenger vehicles  have driven the demand for advanced suspension systems in the automotive adaptive suspension system market over the forecast period.

Rising Demand For Increasing Safety Standards

Governments of various economies have come up with stringent rules and regulations keeping in mind the necessity to ensure safety of vehicles  . Dynamic changes taking place in safety regulations, such as the Federal Motor Vehicle Safety Standards (FMVSS), Canada Motor Vehicle Safety Standards (CMVSS), Bharat New Vehicle Safety Assessment Program (BNVSAP) and others over time has resulted in the growing need for advanced safety systems. This factor is  anticipated to fuel the growth of the automotive adaptive suspension system market throughout the forecast period.

Restraints

High Price Of Automotive Suspension Systems

Availability of automotive adaptive suspension system in a vehicle denotes its luxury, comfort and safety. It is highly improbable that the majority of the mass population can afford the purchase  such high priced vehicles with advanced technology, owing to the fact that they are meant for luxury. Manufacturing enterprises have psychologically applied premium pricing models to their suspension systems as a measure of differentiating from their competitors. Thus, the factor of rising cost is anticipated to act as a barrier to the growth of the automotive adaptive suspension system market during the forecast period.


Automotive Adaptive Suspension System Graph
Get more information on this report: Request Sample PDF

Market Segmentation

Our in-depth analysis of the automotive adaptive suspension system market includes the following segments:

By Type

  • Semi-Active Suspension
  • Active Suspension

By Actuator Type

  • Hydraulic System
  • Electromagnetic System
  • Pneumatic Valve system

By Vehicle Type

  • Passenger Vehicle
  • Commercial Vehicle

By Sales Channel

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

By Region

On the basis of regional analysis, 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.

The markets in Asia-Pacific and Middle-East are expected to occupy the largest market share on the back of rapid growth in the  sales of passenger vehicles and  rising  disposable incomes. Another statistical data provided by OICA, stated that passenger vehicle sales in Asia, Oceania and Middle-East grew from 15,097,677 numbers in 2005 to 39,296,980 numbers in 2018. Further, Europe is anticipated to gain significant market share on account of growing demand for luxury vehicles having high safety standards combined with additional features such as performance and stability. This factor is expected to support the growth of the market in this region.

The automotive adaptive suspension system market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC,  Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.


Get more information on this report: Request Sample PDF

Top Featured Companies Dominating the Market

    • Continental AG
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Infineon Technologies
    • Thyssenkrupp AG
    • Mando Corporation
    • LORD Corporation
    • Benteler International Aktiengesellschaft
    • KYB Corporation
    • Schaeffler AG
    • Tenneco Inc.
    • WABCO Holdings, Inc.

Let Us Hear About Your Requirements:

Submit Your Request For Proposal (RFP)

Submit RFP    Buy Now Download Research Report Sample