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The global market for automotive adaptive suspension systems is expected to grow due to increasing concerns about safety and comfort in vehicles. This demand is particularly high in commercial vehicles and premium high-end vehicles. The market is divided into different segments based on technology, vehicle type, and actuation type. In terms of technology, there are two main types of adaptive suspension systems: semi-active and active. Active suspension systems currently dominate the market, accounting for the majority share. These systems are projected to grow at a steady rate during the forecast period.
When it comes to vehicle type, the market is divided into passenger vehicles and commercial vehicles. Passenger vehicles currently hold the largest market share, as they are more commonly equipped with advanced suspension technologies. The passenger vehicle segment is expected to continue growing steadily over the forecast period. The market is further segmented based on actuation type, which refers to the mechanism that controls the suspension system. This includes hydraulic systems, electromagnetic systems, solenoid valve systems, and others. Hydraulic systems currently dominate the market, offering reliable performance and precise control. They are projected to maintain their market share and grow steadily in the coming years.
Overall, the market for automotive adaptive suspension systems is expected to experience significant growth. This is driven by the increasing demand for safer and more comfortable vehicles, particularly in the commercial and premium high-end segments. The technological advancements in adaptive suspension systems, coupled with the rising awareness about the benefits they offer, are fueling the growth of the market. As the market continues to evolve, manufacturers are likely to focus on developing more advanced and efficient suspension systems. This includes improving the durability, reliability, and performance of the systems, as well as integrating them with other advanced technologies such as autonomous driving features. Additionally, the growing adoption of electric vehicles presents an opportunity for the integration of adaptive suspension systems to enhance ride comfort and handling in these vehicles.
In conclusion, the global market for automotive adaptive suspension systems is driven by the increasing demand for safety and comfort in vehicles. The market is segmented based on technology, vehicle type, and actuation type. Active suspension systems, passenger vehicles, and hydraulic systems currently dominate their respective segments. The market is expected to grow steadily as manufacturers continue to innovate and improve the performance of adaptive suspension systems.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | (2022 to 2030 |
Automotive Adaptive Suspension System Market Highlights:
Automotive Adaptive Suspension System Market Overview
Automotive Adaptive Suspension System Market in terms of value is estimated to reach a value of USD 6,452 Million by 2032, registering a 8.70% CAGR during the forecast period.
The automotive adaptive suspension system is a system that actively controls the vertical movement of the wheels corresponding to the vehicle chassis (vehicle’s body) through a computer-controlled system. It offers a better refined and smooth riding experience. This system detects the vehicle body movement with the help of an onboard computer using many sensors installed on the vehicle body. The automotive adaptive suspension system market is driven by factors such as a rise in concerns regarding safety and comfort in vehicles and demand for advanced suspension technologies in commercial vehicles & premium high-end vehicles. However, the high cost of the suspension system & its installation in the aftermarket is expected to restrain the market growth. The demand for adaptive suspension systems for electric & hybrid vehicles and the use of cost-effective & lightweight materials are likely to create opportunities for the market players.
Segmentation
Global Market for Automotive Adaptive Suspension Systems has been segmented based on Technology, Actuation Type, and Vehicle Type.
Based on technology, the global market has been divided into semi-active suspension systems and active suspension systems. In 2019, the active suspension systems segment accounted for the larger market share of 62.07%, with a market value of USD 27,084.2 million. It is projected to register a 13.98% CAGR during the projected timeframe.
Based on actuation type, the global market has been segmented into hydraulic systems, electromagnetic systems, solenoid valve systems, and others. In 2019, the hydraulic systems segment accounted for the largest market share of 44.46%, with a market value of USD 19,397.5 million. It is projected to register a 12.40% CAGR during the projected timeframe.
Based on vehicle type, the global market has been segmented into passenger vehicles and commercial vehicles. In 2019, the passenger vehicles segment accounted for the larger market share of 66.31%, with a market value of USD 28,934.7 million. It is projected to register a 12.41% CAGR over the forecast period.
Regional Analysis
Based on region, the report on the automotive adaptive suspension system market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Key Competitors
The growth of the vendors is dependent on market conditions, government support, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. Continental AG, ZF Friedrichshafen AG, Mando Corp., Thyssenkrupp AG, Infineon Technologies AG, and Schaeffler AG are a few of the key players operating in the global market.
Global Automotive Adaptive Suspension System Market, by Region, 2019
Source: MRFR Analysis
The growth of the auto component manufacturing industry in Asia-Pacific is mainly driven by the growing automobile manufacturing industry, especially in countries such as China, India, and Malaysia. Due to this, the global automotive component manufacturers have established their production plants and distribution networks in Asia-Pacific. The aftermarket industry for wear and tear components and other related products accounted for nearly half of the total automotive aftermarket component sales in the region.
Europe comprises Germany, France, the UK, Italy, and Spain. The region is considered to be the automotive hub of the world. Major automotive suspension players, such as Schaeffler AG and ZF Friedrichshafen AG, are headquartered in this region. Also, the growing demand for suspension systems, parts, and components from premium German OEMs, such as Mercedes, Audi, and BMW, is pushing global market players to enhance and develop their operation network in Europe, which is expected to drive the market growth during the forecast period.
Synopsis
The global market for automotive adaptive suspension system has been segmented based on technology, actuation type, and vehicle type. The automotive adaptive suspension system market is driven by factors such as a rise in concerns regarding safety and comfort in vehicles and demand for advanced suspension technologies in commercial vehicles & premium high-end vehicles. However, the high cost of the suspension system & its installation in the aftermarket is expected to restrain the market growth. The demand for adaptive suspension systems for electric & hybrid vehicles and the use of cost-effective & lightweight materials are likely to create opportunities for the market players.
Market Segmentation
- By Technology- Active Suspension Systems and Semi-active Suspension Systems
- By Actuation Type- Hydraulic Systems, Electromagnetic Systems, Solenoid Valve Systems, and Others
- By Vehicle Type- Passenger Vehicles and Commercial Vehicles
Key Questions Addressed by the Report
- Why is the automotive adaptive suspension system market expected to grow in the near future?
- What are the key strategies adopted by market players?
- In the coming years, at what Compound Annual Growth Rate (CAGR) is the automotive adaptive suspension system market anticipated to grow?
- What is estimated to be the worth of the automotive adaptive suspension system market by 2026?
- Who are the major participants of the automotive adaptive suspension system market?
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