Advanced Suspension Control System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview 2023-2028:
The global advanced suspension control system market size reached US$ 14.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 24.7 Billion by 2028, exhibiting a growth rate (CAGR) of 8.73% during 2023-2028.
An advanced suspension control system refers to an automobile component that is designed to provide enhanced support to the vehicle body. It provides suspension to tires, through springs, shock absorbers and linkages, which connect the vehicle to the wheels and facilitates relative motion between the two. The system can decelerate the speed of the vehicle and minimize suspension deflection, which improves vehicle maneuverability by managing road-holding and ride quality. In comparison to the traditionally used suspension control systems, these advanced variants are more robust and can be used for compact and mid-size cars, along with light and heavy commercial vehicles.
Significant growth in the automotive industry and the increasing demand for lightweight and energy-efficient components, represent as the key factors creating a positive outlook for the market. Furthermore, the rising demand for semi-utility vehicles (SUVs) and luxurious sports cars is also augmenting the market growth. Advanced suspension control systems can adapt to the vehicle’s leveling and damping properties, which aid in improving the performance and overall safety and comfort for the driver. Additionally, various technological advancements, such as the development of suspension control systems with minimal tailpipe emissions, are acting as other growth-inducing factors. Product manufacturers are creating electronically controlled air suspension systems that are integrated with hydraulic and mechanical components for superior oil flow and control of spring and damping forces. Other factors, including improvements in the design and manufacturing techniques of suspension systems, along with extensive research and development (R&D) activities, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global advanced suspension control system market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on system type, component, vehicle, vehicle type and sales channel.
Breakup by System Type:
Semi-Active Suspension System
Active Suspension System
Breakup by Component:
Springs
Shock Dampeners
Struts
Control Arms
Ball Joints
Others
Breakup by Vehicle:
Passenger Cars
Commercial Vehicles
Others
Breakup by Vehicle Type:
Conventional
Gasoline-Based
Diesel-Based
Hybrid
Electric
Breakup by Sales Channel:
OEMs
Aftermarket
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being BWI Group, Continental AG, Hitachi Automotive Systems Ltd., Infineon Technologies AG, Lord Corporation, Marelli Europe S.P.A., Schaeffler AG, The Mando Corporation, ThyssenKrupp AG and ZF Friedrichshafen AG.
Key Questions Answered in This Report:
What was the size of the global advanced suspension control system market in 2022?
What is the expected growth rate of the global advanced suspension control system market during 2023-2028?
What has been the impact of COVID-19 on the global advanced suspension control system market?
What are the key factors driving the global advanced suspension control system market?
What is the breakup of the global advanced suspension control system market based on the system type?
What is the breakup of the global advanced suspension control system market based on the component?
What is the breakup of the global advanced suspension control system market based on the vehicle?
What is the breakup of the global advanced suspension control system market based on the vehicle type?
What is the breakup of the global advanced suspension control system market based on the sales channel?
What are the key regions in the global advanced suspension control system market?
Who are the key players/companies in the global advanced suspension control system market?
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Advanced Suspension Control System Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
- 6 Market Breakup by System Type
- 6.1 Semi-Active Suspension System
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Active Suspension System
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 7 Market Breakup by Component
- 7.1 Springs
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Shock Dampeners
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Struts
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Control Arms
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Ball Joints
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6 Others
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
- 8 Market Breakup by Vehicle
- 8.1 Passenger Cars
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Commercial Vehicles
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Others
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 9 Market Breakup by Vehicle Type
- 9.1 Conventional
- 9.1.1 Market Trends
- 9.1.2 Major Types
- 9.1.2.1 Gasoline-Based
- 9.1.2.2 Diesel-Based
- 9.1.3 Market Forecast
- 9.2 Electric
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Hybrid
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 10 Market Breakup by Sales Channel
- 10.1 OEMs
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Aftermarket
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 11 Market Breakup by Region
- 11.1 North America
- 11.1.1 United States
- 11.1.1.1 Market Trends
- 11.1.1.2 Market Forecast
- 11.1.2 Canada
- 11.1.2.1 Market Trends
- 11.1.2.2 Market Forecast
- 11.2 Asia Pacific
- 11.2.1 China
- 11.2.1.1 Market Trends
- 11.2.1.2 Market Forecast
- 11.2.2 Japan
- 11.2.2.1 Market Trends
- 11.2.2.2 Market Forecast
- 11.2.3 India
- 11.2.3.1 Market Trends
- 11.2.3.2 Market Forecast
- 11.2.4 South Korea
- 11.2.4.1 Market Trends
- 11.2.4.2 Market Forecast
- 11.2.5 Australia
- 11.2.5.1 Market Trends
- 11.2.5.2 Market Forecast
- 11.2.6 Indonesia
- 11.2.6.1 Market Trends
- 11.2.6.2 Market Forecast
- 11.2.7 Others
- 11.2.7.1 Market Trends
- 11.2.7.2 Market Forecast
- 11.3 Europe
- 11.3.1 Germany
- 11.3.1.1 Market Trends
- 11.3.1.2 Market Forecast
- 11.3.2 France
- 11.3.2.1 Market Trends
- 11.3.2.2 Market Forecast
- 11.3.3 United Kingdom
- 11.3.3.1 Market Trends
- 11.3.3.2 Market Forecast
- 11.3.4 Italy
- 11.3.4.1 Market Trends
- 11.3.4.2 Market Forecast
- 11.3.5 Spain
- 11.3.5.1 Market Trends
- 11.3.5.2 Market Forecast
- 11.3.6 Russia
- 11.3.6.1 Market Trends
- 11.3.6.2 Market Forecast
- 11.3.7 Others
- 11.3.7.1 Market Trends
- 11.3.7.2 Market Forecast
- 11.4 Latin America
- 11.4.1 Brazil
- 11.4.1.1 Market Trends
- 11.4.1.2 Market Forecast
- 11.4.2 Mexico
- 11.4.2.1 Market Trends
- 11.4.2.2 Market Forecast
- 11.4.3 Others
- 11.4.3.1 Market Trends
- 11.4.3.2 Market Forecast
- 11.5 Middle East and Africa
- 11.5.1 Market Trends
- 11.5.2 Market Breakup by Country
- 11.5.3 Market Forecast
- 12 SWOT Analysis
- 12.1 Overview
- 12.2 Strengths
- 12.3 Weaknesses
- 12.4 Opportunities
- 12.5 Threats
- 13 Value Chain Analysis
- 14 Porters Five Forces Analysis
- 14.1 Overview
- 14.2 Bargaining Power of Buyers
- 14.3 Bargaining Power of Suppliers
- 14.4 Degree of Competition
- 14.5 Threat of New Entrants
- 14.6 Threat of Substitutes
- 15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 BWI Group
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.2 Continental AG
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.2.3 Financials
- 15.3.2.4 SWOT Analysis
- 15.3.3 Hitachi Automotive Systems Ltd.
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.4 Infineon Technologies AG
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 Financials
- 15.3.4.4 SWOT Analysis
- 15.3.5 Lord Corporation
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.6 MARELLI EUROPE S.P.A.
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.7 Schaeffler AG
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.8 The Mando Corporation
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.8.3 Financials
- 15.3.9 ThyssenKrupp AG
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.9.3 Financials
- 15.3.9.4 SWOT Analysis
- 15.3.10 ZF Friedrichshafen AG
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
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