Global Automotive Active Suspension System Market, By System (Passive, Active, Semi-Active), Component (Shock Dampener, Leaf Spring, Struts, Control Arm, Spring, Ball Joint, Air Compressor, Others), Suspension Type (Hydraulic Suspension, Air Suspension, Leaf Spring), Vehicle Type (Two Wheelers, Passenger Vehicles, Commercial Vehicles, Others) - Industry Trends and Forecast to 2031.
Automotive Active Suspension System Market Analysis and Size
The rapid growth in electric vehicle usage in developed markets, as well as the development of the automotive industry in developing markets, is likely to drive the demand for the automotive suspension market. The global demand for sophisticated multilink suspensions is being driven by the growing popularity of SUVs and compact SUVs among end-users in both developed and developing nations. Furthermore, rising vehicle sales globally as a consequence of higher standards of living and disposable money among the majority of the population is expected to have a significantly positive impact on the market throughout the forecast period.
Data Bridge Market Research analyzes that the global automotive active suspension system market was valued at USD 4,1765.31 billion in 2023 and is expected to reach USD 5,834.67 billion by 2031, registering a CAGR of 3.3 % during the forecast period of 2024-2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customized 2016-2021)
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Quantitative Units
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Revenue in USD billion, Volumes in Units, Pricing in USD
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Segments Covered
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By System (Passive, Active, Semi-Active), Component (Shock Dampener, Leaf Spring, Struts, Control Arm, Spring, Ball Joint, Air Compressor, Others), Suspension Type (Hydraulic Suspension, Air Suspension, Leaf Spring), Vehicle Type (Two Wheelers, Passenger Vehicles, Commercial Vehicles, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa
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Market Players Covered
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Continental AG (Germany), ThyssenKrupp AG (Germany), Fox Factory Inc. (U.S.), KYB Corporation (U.S.), Gabriel India Limited (India), BENTELER (U.S.), Hendrickson L.L.C. (U.S.) Morelli Corporation (U.S.)
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Market Opportunities
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Market Definition
A suspension system is one of the most important systems of an automobile. Automobile suspension is a system that connects a vehicle to its wheels and allows relative motion between the two. It consists of tires, tire air, springs, shock absorbers, and linkages. Suspensions help to keep the vehicle tires in contact with the asphalt during the trip, reducing shocks and protecting the vehicle and its load from wear and tear or damage. Any vehicle with four wheels and all-wheel-drive (4WD/AWD) needs suspension for the front and rear wheels, however, two-wheel-drive vehicles may have a distinctive setup.
Global Automotive Active Suspension System Market Dynamics
Drivers
- Rise in Adoption of ADAS Features in Automobiles
The automobile industry has witnessed huge developments however, advanced driver assistance systems (ADAS) are one of the major developments. This system ensures more safety measures for vehicles because of which demand for ADAS is increasing year over year. This technological innovation for the automotive industry has created a popularity for the safety and benefits involved with the new system which has created the demand for electronics adoptions which is integrated through software applications.
- Rise in the Number of Connected Vehicles
Nowadays connected vehicles seem to be a new norm in the automotive industry which is equipped with smart and convenient features. The vehicles are embedded with SIM cards or chipset with internet access and vehicle application operated through smartphones which allows to remotely operate the functions of a vehicle such as locking/unlocking the door, climate control, locating the vehicle, and many other features.
Opportunity
- Surging Technological Advancements
In addition, the surging product launches and other innovations by market players further offer numerous growth opportunities within the market. The introduction and development of battery and charging technology for electric vehicles are in high demand. The market's top manufacturers are creating and introducing a variety of technologically sophisticated battery management systems for battery-operated and hybrid automobiles. For instance, Grinntech, a start-up that specializes in Lithium-ion batteries for electric cars and energy storage systems, introduced IoT-based battery monitoring & control systems for 2-wheelers, 3-wheelers, and tractors/light vehicles in August 2020.
Restraints/ Challenges
- Lack of Connectivity Infrastructures
The investment for developing the connectivity for vehicles includes the infrastructure which is supporting the technology and operation. This includes smart cities and roads that is having vision-based or high-frequency mapping which will help smooth working of autonomous driving equipped with self-driving systems with the requirement of up-to-date information for better navigation of vehicles and connectivity..
This automotive active suspension system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive active suspension system market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In June October 2021, Continental AG have expanded their automotive active suspension product portolio across the market. The company has also confucted workshop with various suppliers & manufacturers to showcase their new ofeerings.
Global Automotive Active Suspension System Market Scope
The market is segmented on the basis of system, component, suspension type & vehicle type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
System
- Passive
- Active
- Semi-Active
Component
- Shock Dampener
- Leaf Spring
- Struts
- Control Arm
- Spring
- Ball Joint
- Air Compressor
- Others
Suspension Type
- Hydraulic Suspension
- Air Suspension
- Leaf Spring
Vehicle Type
- Two Wheelers
- Passenger Vehicles
- Commercial Vehicles
- Others
Global Automotive Active Suspension System MarketRegion Analysis/Insights
The automotive active suspension system market is analyzed and market size insights and trends are provided by country, system, component, suspension type and vehicle type as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, the rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and rest of the Middle East and Africa.
Asia Pacific is expected to be the fastest growing region and is also expected to dominate the market due to experiencing a significant expansion of brand-new vehicle sales, especially passenger automobiles and commercial vehicles. The expansion of manufacturing facilities by key regional corporations is likely to offer a tremendous opportunity.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.
Competitive Landscape and Global Automotive Active Suspension System Market Share Analysis
The automotive active suspension system market is analyzed, and market size information is provided by country, product type & application. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the automotive active suspension system market.
Some of the major players operating in the automotive active suspension system market are:
- Continental AG (Germany)
- ThyssenKrupp AG (Germany)
- Fox Factory Inc. (U.S.)
- KYB Corporation (U.S.)
- Gabriel India Limited (India)
- BENTELER (U.S.)
- Hendrickson L.L.C. (U.S.)
- Morelli Corporation (U.S.)
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