Advanced Suspension Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Advanced Suspension Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Advanced Suspension Market Introduction
A suspension system in automobiles is built with various components including shock absorbers, springs, and the linking between wheels and the vehicle. A suspension system in a vehicle contributes majorly to the vehicle’s road handlings as well as braking, in order to provide safety and convenience at driving. Advanced suspension systems can offer maximum resistibility towards the shocks received from poor road conditions with excellent performance and comfortable ride.
Advanced suspension systems are employed in most luxury vehicles as well as in military vehicles, as these vehicles require powerful engines and heavy duty suspension systems. Leading manufacturers in the advances suspension market are offering extraordinary control to the driver over body motion in order to ensure that the vehicle is flat and stable on the road below pitches and heaves. Advanced suspension market players are introducing upgrades in existing systems to attract Tier I companies in the automotive industry.
Advanced Suspension Market – Notable Developments
- Benteler Automobiltechnik GmbH – a German manufacturer in the advanced suspension market – has been active in China since the past decade and the company has directed its efforts towards strengthening its position in the Asia-Pacific region in the coming future. As a part of its Asia-Pacific growth strategy, the company established a joint venture with FAWAY Automobile Components Co., a Chinese auto part manufacturer, in June 2018. The new plant of the new company – FAWAY BENTELER Automotive Components (Tianjin) Co., Ltd. – focus on manufacturing chassis systems to match local customers’ demands with reliable and innovative system solutions, including advanced suspension.
- WABCO Vehicle Control Systems, an American manufacturer of electronic braking and suspension for heavy vehicles, announced in February 2019 that it has signed a US$ 230 million agreement with a European manufacturer of premium cars to develop and provide innovative air suspension technology along with control software to operate various configurations of the advanced suspension system. The advanced suspension module by WABCO includes state-of-the-art compressors integrated with an air intake filter and air dryer, an air-flow distribution valve-block that controls air spring actuation, as well as an acoustic and vibration isolation system.
- Ford Motor Company, one of the leading American auto manufacturers, announced in January 2019 that it will soon launch its latest Mustang and the new model takes advantage of next-generation active MagneRide™ suspension. The company aims to set a new standard among premium cars in the U.S. by launching the sixth-generation Mustang with high-tech features including a powerful street-legal V8 engine, the quickest-shifting transmission, and advanced suspension.
Some of the most prominent competitors operating in the competitive landscape of global advanced suspension market include –
- Benteler Automobiltechnik GmbH
- Daimler AG
- Ford Motor Company
- Fiat SpA
- Audi AG
- Benteler International AG
- Bose Corporation
- Delphi Automotive LLP
- Bridgestone Americas, Inc.
- BMW North America LLC
- Freudenberg Sealing Technologies GmbH & Co. KG
- Hitachi Automotive Systems Ltd.
- General Motors Corporation
- Hendrickson USA LLC
- Continental AG
Advanced Suspension Market Dynamics
Advances Suspension are Witnessing Heavy Demand with Growing Needs for Vehicle and Occupant Protection
Consumers across the world are becoming more conscious about the safety features of vehicles, which mainly influences their purchasing decisions. Consumers critically compare cars by their driver assistance systems as well as passive safety features before making a purchase. Thereby, automotive manufacturers are adopting advanced automotive components to further enhance the safety systems of their vehicles. Manufacturers in the advanced suspension market are promoting the benefits of advanced suspension systems in protecting passengers as well as vehicles from poor road conditions to attract end-users and meet the consumer needs for vehicle and passenger protection features.
Due to its High Cost, the Market Penetration of Advanced Suspension Remains Confined to Premium Cars
Growing awareness about the extraordinary benefits and excellent performance characteristics of advanced suspension systems is bolstering growth of the advanced suspension market. However, despite the benefits of incorporating advanced suspension systems, their high cost is creating challenges for automotive manufacturers to limit their production costs. Thereby, the demand for advanced suspension systems from economy vehicle manufacturers is likely to remain low in the upcoming years. Limited penetration of advanced suspension market among luxury and premium car manufacturers across the world is likely to impact the market growth negatively in the upcoming years.
Advanced Suspension Market Segmentation
Based on its types, the advanced suspension market is segmented into
- Active Electromagnetic Suspension Systems
- Semi-Active Suspension Systems
- Others
Based on its applications, the advanced suspension market is segmented into
- Light Vehicles
- Heavy Vehicles
- Others
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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