Automotive Active Suspension System Market

Automotive Active Suspension Market Snapshot

According to Future Market Insights, the global Automotive Active Suspension System market will be valued at US$ 2,410.6 Mn in 2022 and will increase at a CAGR of 4.6% from 2022 to 2032. The top 3 countries are predicted account for 25 to 28% of the market by the end of 2022, as sales of Automotive Active Suspensions are expected to grow.

Today, competitors' focus is on vehicle performance features to stay competitive in the automotive market, which drives the automotive active suspension system market. The growing market for vehicles in developing economies also contributes to the expansion of the automotive active suspension system market.

The automotive market, which is among the most important and profitable markets in today's world, is constantly undergoing technological transformations in order to implement numerous unique characteristics in vehicles that make the vehicle more appealing, safe, easy to handle, and thus customer friendly.

Historic Market Outlook for Automotive Active Suspension System

The market analysis for Automotive Active Suspension System from 2017 to 2021 exhibited a historical growth rate of 0.8% CAGR, with growing trends towards the development of automobiles being the primary factors driving the market expansion from 2017 to 2021.

However, according to the most recent FMI analysis, the automotive active suspension system market is expected to grow at a rate of 4.6% between 2022 and 2032. Currently, every vehicle manufacturer is focusing on offering comfort and safety in their automobiles. Active suspension system may continuously adjust itself in response to changing road conditions. The primary premise of active suspension system is to evaluate the vehicle's vertical movement as well as roll and pitch. This data prompts the system to modify the dampers in response to road conditions. Due to such feature demand for automotive active suspension system is increasing in forecast period.

What are the Various Factors Driving the Automotive Active Suspension System Market?

Automotive Active suspension systems serve to prevent damage to vehicle components while also providing a safe and enjoyable driving experience, which is a primary driver driving the automotive Active suspension system market size. Continuous technical improvements in vehicle components, rising demand for premium vehicles, and increasing acceptance of air suspension systems in Commercial vehicles will drive market expansion.

Consumers expect a comfortable and safe ride when driving a vehicle, so every OEM and aftermarket player is focusing on the development of new technology. However, it is also capable of reducing the risk of body roll during cornering and, as a result, maintaining an appropriate tires alignment with relation to the road. Owing to such advantages active suspension systems are expected to enhance the market in the near future.

Technological developments, as well as new vehicle launches and increased commercial electric vehicle usage around the world, are likely to drive the automotive active suspension system market.

Nikhil Kaitwade

Principal Consultant

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Which Factors May Hinder the Automotive Active Suspension System Market Growth?

The high system cost and maintenance cost act as a limitation on the vehicle active suspension system market. Furthermore, installing an active suspension system into an existing vehicle may necessitate considerable modifications, which may impair the adaptability of the active suspension system over other available systems, limiting the growth of the active suspension system market.

Because of their contact with hard road surfaces, active suspension systems require regular inspection, resulting in a high maintenance cost and limiting the automotive active suspension system market.

Which Region hold the prominent share in Automotive Active Suspension System Market?

Ongoing research & development on electric cars (EVs), autonomous vehicles (AVs), and the demand for premium vehicles in China and Japan are driving the East Asia active suspension system market. Comfort features such as adaptive suspension are being implemented into newly designed EVs and premium vehicles.

North America and Europe are the pioneer markets in the automotive active suspension system market, where the early commercialization of the active suspension system has started, and these economies also have a large market for luxury vehicles.

South Asia Pacific is expected to be the fastest growing market for automotive active suspension system owing to technological advancement and greater investment by new market players in the automotive sector. In addition, the Middle East & Africa, and Latin America region is expected to witness favourable growth during the forecast period.

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Market Competition

Key players operating in the Automotive Active Suspension system Market are Bose Corporation, Quanser Inc., ZF Sachs AG, Daimler AG, Magneti Marelli S.p.A, Hitachi Automotive Systems, Ltd., Porsche Cars North America, Inc, LORD Corporation, BWI Group, Eaton Corporation Plc, Tanabe USA Inc and others.

Key market players are strengthening production capacity, expanding sales and distribution networks, product differentiation and new product development, and strategic alliances and collaborations to establish a strong position in the automotive active suspension system market.

Scope of the Report

Key Segments Profiled in the Automotive Active Suspension System Market

By Type, Automotive Active Suspension System Market is segmented as:

• Gates
• Turnstiles

By End Uses, Automotive Active Suspension System Market is segmented as:

• Banking/Financial Services
• IT Services
• Hospitality
• Retail
• Others

By Region, Automotive Active Suspension System Market is segmented as:

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa