LONDON--(BUSINESS WIRE)--The global automotive advanced suspension system market is expected to post a CAGR of nearly 9% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing penetration of the air suspension system. Air suspension systems offer superior handling and driving comfort to the vehicle occupants. They use sensors and actuators for inflating and deflating the airbag with high-pressure air depending on the loads being carried by the vehicle. Electronic components used in air suspension systems to monitor vehicle height and speed and road conditions allow vehicle makers to integrate advanced suspension controls in air suspension systems without incurring significant costs. Thus, rising penetration of air suspension systems will drive the growth of the automotive advanced suspension system market.
This market research report on the global automotive advanced suspension system market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the development of smart suspension systems as one of the key emerging trends in the global automotive advanced suspension system market:
Global automotive advanced suspension system market: Development of smart suspension systems
Vehicle makers are developing suspension systems that can automatically detect the wheel’s vertical movement and adjust the suspension setup top allowing less amount of shock to move to the passenger cabin. Apart from active suspension control, smart suspension systems are integrated with geotagging features that mark a particular route according to the number of bumps and later transmit this information to other vehicles with smart suspension systems.
“Smart suspension systems operate by lifting the individual wheel over bumps rather than change the firmness of the spring or airbag to cushion the shock from the road. The mechanism is equipped with accelerometers at each wheel that trigger an electric pump to pump hydraulic fluid to move the wheel up or down,” says a senior analyst at Technavio for research on automotive electronics.
Global automotive advanced suspension system market: Segmentation analysis
This market research report segments the global automotive advanced suspension system market by end-user (passenger cars and commercial vehicles) and geographical regions (APAC, EMEA, and the Americas).
The passenger cars segment held the largest market share in 2017, accounting for nearly 72% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2017 with a market share of nearly 49% of the market share. The market share occupied by this region is anticipated to increase during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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