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
This study provides a particularized anatomy according to the L.E.A.P mechanism
- Latest trends and cardinal growth prospects
- Existing and future insights in growth
- Ascensions in technology
- Pain points
The regional analysis offers market assays across:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
Pain Points
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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