Market Overview:
The manufacturers in the automotive industry are incorporating sophisticated technologies in order to optimize the driving experience and achieve a greater degree of ride quality and vehicle handling. The advanced suspension control system is an electronically controlled suspension system that ensures enhanced ride comfort by improving the support to the vehicle body. According to the report that has been published by Market Research Future (MRFR), the global advanced suspension control system market is anticipated to expand at a noteworthy CAGR of 9% during the forecast period of 2020-2027.
Market Drivers and Restraints:
Increasing global demand for luxury vehicles and sports cars that are equipped with advanced suspension control systems is driving the growth of the global advanced suspension control system market. The rapid adoption of advanced technology in order to improve the driving experience and passenger and vehicle safety and increasing investment by the manufactures is projecting to impact positively on the expansion of the global advanced suspension control system market.
However, high cost of maintenance and replacement of these systems, lack of standardization, reliability issues and strict government regulations are likely to act as restraints on the growth of the global advanced suspension control system market during the forecast period.
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Market Segmentation:
The global advanced suspension control system market has been segmented on the basis of technology and vehicle type. Based on technology, the advanced suspension control system market is segmented into semi-active suspension system and active suspension system. Among these, the semi-active suspension system segment is anticipated to account for the largest share in the global advanced suspension control system market owing to the low development cost of these systems.
Based on vehicle type, the advanced suspension control system market is segmented into passenger cars and commercial vehicles. The passenger cars segment to projecting significant growth in the global advanced suspension control systems market owing to the increasing demand for automated premium luxury vehicles equipped with advanced suspension control system in the global market.
Regional Analysis:
Geographically, the global advanced suspension control system market has been segmented into four major regions such as Europe, Asia Pacific, North America and the rest of the world. The Europe region is projecting dominance over the global market for advanced suspension control system owing to the presence of large pool of luxury vehicle manufacturers in this region. The increasing standard of living and high demand for luxury vehicles is driving the growth of the advanced suspension control system market in the Asia Pacific and North America regions.
Industry Updates:
In July 2081, Tenneco Inc. has announced that the new Mercedes-Benz-G-Class line of SUVs will be equipped with Tenneco's continuously variable semi-active (CVSA2) suspension technology from the Monroe intelligent suspension portfolio. This technology will be standard on Mercedes-AMG G 63 performance SUV and will be provided as an option on G350d and G500 models. These are the very first SUVs that will be offering Tenneco's CVSA2 technology.
Key Players:
The key players profiled in the report on the global advanced suspension system market by MRFR are Continental AG (Germany), ThyssenKrupp AG (Germany), Infineon Technologies AG (Germany), and BWI Group (China). The Mando Corporation (South Korea), Lord Corporation (the U.S.), Schaeffler AG (Germany), ZF Friedrichshafen AG (Germany), Magneti Marelli S.p.A (Italy), Hitachi Automotive Systems (Japan) and others.
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Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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