IMARC Group has recently released a new research study titled “Advanced Suspension Control System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the advanced suspension control system market report, drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
The global 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.
What is advanced suspension control system?
Advanced suspension control system refers to a system that uses advanced technology to enhance the handling, ride comfort, and safety of the vehicle. It includes, actuators, a combination of sensors, and control units that work together to adjust the suspension in real-time, based on the current driving conditions.
It is generally used in compact and mid-size cars, along with light and heavy commercial vehicles. In recent years, advanced suspension control systems have gained traction as they offer safety benefits, such as reducing the risk of rollover or enhancing the vehicle’s stability in emerging maneuvers.
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What are the growth prospects and trends in the industry?
One of the primary factors driving the market is the significant growth in the automotive industry. Advanced suspension control systems enhance a vehicle’s stability and control, which can help in preventing accidents and improve safety on the road. Other than this, the growing popularity of electric vehicles (EVs) and connected cars is accelerating the sales of these systems, as they are capable of absorbing the additional weight of the battery packs present in these vehicles.
The increasing demand for luxury and high-performance vehicles is propelling the market growth. In line with this, numerous technological advancements, such as the introduction of suspension control systems with minimal tailpipe emissions, are catalyzing the market growth. Other growth-inducing factors include improvements in design and manufacturing techniques of suspension systems, along with the extensive research and development activities.
Advanced Suspension Control System Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the advanced suspension control system market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- 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
- ZF Friedrichshafen AG
Key Market Segmentation:
The report has segmented the global advanced suspension control system market based on system type, component, vehicle, vehicle type, sales channel and region.
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
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Explore Full Report With TOC List of Figures: https://www.imarcgroup.com/advanced-suspension-control-system-market
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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