Automotive Adaptive Suspension System Market Revenu, Regions and Applications Research Report Forecast to 2023
Posted July 7,2020 in Cars and Vehicles.
An adaptive suspension enables the control of the vertical movement of the car wheels in relation to the chassis of the body with an onboard system. Adaptive systems change the viscous damping coefficient of the shock absorber. The growth of the adaptive suspension systems is mainly dependent on the trends in the automotive industry. Currently, the automotive industry is witnessing trends of technology advancement. Such technological advancements in the automotive equipment segment have enabled the vehicles to be more attractive, safe, and consumer friendly. Technology changes in the automotive industry have led to many advancements in the adaptive suspension systems, driving the global market exponentially.
The global automotive adaptive suspension systems market is deriving growth due to many factors including the vehicle performance enhancement and rising demand for automobiles. Many consumers are demanding vehicles containing adaptive suspensions systems, as they provide better suspension and comfortable traveling experience. Application of advanced technology has enabled car manufacturers to offer higher ride quality by keeping the roads and tires perpendicular to each other. Such advancement has resulted in higher usage of adaptive suspension systems in vehicles, fueling market growth. The global Automotive Adaptive Suspension System Market Revenue is estimated to register a steady CAGR of 6.12% by the end of the forecast period.
The global Automotive Adaptive Suspension System Market Revenue is segmented on the basis of type, vehicle types, actuation type, and region. By type, the adaptive suspension system market is segmented into semi-active suspension system and pure active suspension system. The pure active suspension system segment is anticipated to spearhead the market owing to the better ride comfort and improved vehicle performance. Based on actuation type, the automotive adaptive suspension system is segmented into hydraulic system, electromagnetic systems, and solenoid valve systems. The electromagnetic systems segment is expected to be the frontrunner in the Automotive Adaptive Suspension System Market Revenue owing to the direct monitoring of movement of the vehicle body through a computer. Based on vehicle type, the Automotive Adaptive Suspension System Market Revenue is segmented into passenger cars and commercial vehicles.
Detailed Regional Analysis
Geographically, the global automotive adaptive suspension systems market has been segmented into North America, Europe, Asia Pacific, and Rest of the World. North America is projected to spearhead the global Automotive Adaptive Suspension System Market Revenue. Factors owing to such growth include the early development of active suspension systems in the region. Other factors resonating growth include a larger market for luxury vehicles in North America, which will influence a surging growth of the adaptive suspension systems market. Europe is projected to follow North America, encapsulating the second largest market share for automotive adaptive suspension systems. A rise in the production and adoption of high-end vehicles is the causative factor for lucrative growth in the region. Whereas, in Asia Pacific, the automotive adaptive suspension systems market is expected to grow at the fastest rate. Factors attributing to such ascension of the market include the burgeoning growth witnessed by the automotive industry in developing economies like India, China, and Japan.
Prominent Market Players
The global Automotive Adaptive Suspension System Market Revenue inculcates several noteworthy players including Quanser Inc. (Canada), Bose Corporation (U.S.), Daimler AG (Germany), Magneti Marelli S.p.A (Italy), Porsche Cars North America, Inc (U.S.), ZF Sachs AG (Germany), Hitachi Automotive Systems, Ltd. (India), LORD Corporation (U.S.), BWI Group (Dayton, Ohio), and Eaton Corporation Plc (Republic of Ireland).
April 2019: Tesla has updated its Model S and Model X which use a completely new and highly-efficient drivetrain design, with an updated adaptive suspension system. Tesla’s full self-driving software coupled with a fully adaptive suspension will provide an automated suspension experience where the software will set a height preference, instead of the driver. Such choices will be based on calculations using road conditions.
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