Advanced suspension control systems offer a range of advancements and benefits in the automotive industry. These systems utilize cutting-edge technology to improve ride comfort, handling, and stability. Features like adaptive dampers, active air suspension, and electronic control systems enhance vehicle dynamics, making driving safer and more enjoyable. Advanced suspension control systems can also adapt to various road conditions, reducing vibrations and improving overall vehicle control. By optimizing ride quality and vehicle performance, these systems enhance safety, comfort, and driving pleasure for drivers and passengers.
According to Data Bridge Market Research, the Global Advanced Suspension Control System Market accounted for USD 13.40 billion in 2021 and is expected to reach USD 26.12 billion by 2029. The market is expected to grow with a CAGR of 8.70 % in the forecast period of 2022 to 2029.
“Expansion of the automotive industry boosts the market’s growth”
The advanced suspension control system market is experiencing growth due to the expansion of the automotive industry. As the automotive sector evolves, there is a heightened demand for vehicles with enhanced performance, safety, and comfort. Advanced suspension control systems, such as adaptive dampers and active air suspension, offer improved ride quality, stability, and handling. These systems cater to evolving consumer preferences and regulatory requirements, driving the market growth as automakers strive to incorporate advanced suspension technologies into their vehicles to meet customer expectations.
What restraints the growth of the global advanced suspension control system market?
“High maintenance costs restraints the market’s growth”
One of the factors restraining the growth of the advanced suspension control system market is the high maintenance cost associated with these systems. Advanced suspension technologies often require specialized expertise and expensive components for maintenance and repairs. The increased complexity of these systems can result in higher service and replacement costs, which may deter some consumers from adopting them. Moreover, the lack of widespread availability of qualified technicians and the need for advanced diagnostic tools can further contribute to the high maintenance expenses. Addressing these challenges is crucial to foster wider adoption and driving market growth.
Segmentation: Global Advanced Suspension Control System Market
The global advanced suspension control system market is segmented on the basis of product type, and vehicle type.
- On the basis of product type, the advanced suspension control system market has been segmented into semi-active suspension system, and active suspension system.
- On the basis of vehicle type, the advanced suspension control system market has been segmented into vehicle type into passenger car, LCV (light commercial vehicle), and HCV (heavy commercial vehicle).
Regional Insights: North America dominates the Global Advanced Suspension Control System Market
North America dominates the advanced suspension control system market because a substantial number of luxury vehicle manufacturers in the region contributes to this trend. The concentration of these manufacturers fosters healthy competition and innovation, resulting in a wide range of luxury vehicle options and driving the growth of the luxury vehicle market.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 owing to the rapid pace of technological advancements is a key driver behind the growth of the luxury vehicle market. As technology evolves, luxury vehicle manufacturers integrate innovative features, such as advanced driver assistance systems, connectivity, and infotainment options, attracting consumers seeking the latest technological advancements in their vehicles.
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Recent Development
- In February’2022, AAB Lexus introduced the all-new Lexus LX, which brings together exceptional performance, innovative powertrains, and contemporary design. This latest generation of the Lexus LX showcases cutting-edge technologies, both industry-first and exclusive to Lexus, to provide an unparalleled luxury SUV experience.
The Prominent Key Players Operating in the Global Advanced Suspension Control System Market Include:
- Continental AG (Germany)
- thyssenkrupp AG (Germany)
- Infineon Technologies AG (Germany)
- BWI Group (China)
- Mando Corp. (South Korea)
- Parker Hannifin Corp (U.S.)
- Schaeffler AG (Germany)
- ZF Friedrichshafen AG (Germany)
- Marelli Europe S.p.A., (Italy)
- Hitachi Automotive Systems Americas, Inc. (U.S.)
- VersaTech Automation Services, LLC (U.S.)
- ANZE Suspension. (U.S.)
- Tenneco Inc., (U.S.)
- KYB Corporation (Japan)
- Icon Vehicle Dynamics (U.S.)
- Dunlop Systems and components (U.K.)
- DURA AUTOMOTIVE SYSTEMS (U.S.)
- FOX Factory, Inc., (U.S.)
- Hendrickson USA, L.L.C., (U.S.)
- Sogefi SpA (Italy)
- WABCO (France)
Above are the key players covered in the report, to know about more and exhaustive list of global advanced suspension control system market companies contact, https://www.databridgemarketresearch.com/zh/contact
Research Methodology: Global Advanced Suspension Control System Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
