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The market research analyst at Technavio predicts that the global automotive advanced suspension control system market will grow steadily at a CAGR of around 9% by 2020. The introduction of electronically-controlled air suspension system for an optimum ride and safe driving experience will be one of the key factors contributing to the growth of the market during the forecast period. The new suspension systems are integrated with hydraulic and mechanical systems with advanced electronics that make the vehicle extremely lightweight. The integration of hydraulic pumps helps manage oil flow through the absorbers and provides superior control of spring and damping forces, which control the pitch and speed of the vehicle. Also, some of the systems can either be air-controlled or electronically-controlled and comprise of shock absorbers that sync with the vehicle’s speed and road conditions for added safety. Furthermore, the manufacturers will invest in new technologies that meet the customer’s demand for safer cars and less vehicular vibrations and noises during the forecast period.
In 2015, EMEA was the largest region in the market by accounting for almost 46% of the total market share. The higher adoption rate of advanced suspension control systems will be one of the primary drivers for the growth of the advanced suspension control system market in this region. Major vendors such as Mercedes-Benz, Audi, and BMW are investing in the development of advanced technology for automotive components, which helps to optimize the ride. These innovations will help vendors to offer superior suspension and safety technologies to provide a proper balance of performance and handling capabilities.
The introduction of stringent safety norms and increased implementation of electronic components in vehicles has rendered the market highly competitive. Vendors will be focusing on the development of light-weight and ride enhancing technologies to create a distinguished place for themselves in the market. Moreover, many manufacturers are also setting up facilities across the world to increase their global presence. Also, the increasing demand for luxury cars and automatic suspension systems will compel businesses to progress towards innovative technologies for suspension systems and components.
Leading vendors in the market are -
Other prominent players in the market are Mando and Lord.
Market research analysts predict that the passenger car segment will dominate the market by growing at a CAGR of around 9% by 2020. The increasing demand for automated premium luxury vehicles from the APAC region will lead to the growth of this segment in the coming years. Additionally, the manufacturers will also focus on the introduction of semi-active and active suspension systems to meet the growing requirement of better and safer suspension systems. Moreover, the advent of advanced driver assistance systems (ADAS) will also help to improve the ride-handling technologies and the overall safety of cars.
During 2015, the semi-active suspension system sector dominated the market by accounting for around 65% of the total market share. The low-cost of development of these systems will be one of the primary factors attributing to the growth of this segment. Since the complexity of the mechanisms is lower in these systems, they are highly energy-efficient and more reliable. Also, the extensive use of magnetorheological (MR fluid) will add to the cost advantage of the semi-active suspension systems, which will further boost the growth prospects for this market segment in the coming years.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market drivers
PART 07: Market challenges
PART 08: Market trends
PART 09: Market segmentation by geography
PART 10: Market segmentation by vehicle type
PART 11: Segmentation by technology
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
PART 15: Explore Technavio
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