Technavio, a tech-focused market research firm, has published a new report on the global automotive advanced suspension control system market, which is expected to experience a progressive growth at a CAGR of close to 9% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global automotive advanced suspension control system market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global automotive advanced suspension control system market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global automotive advanced suspension control system market for 2015 (market share %)
|
EMEA |
47% |
|
APAC |
27% |
|
Americas |
26% |
Source: Technavio
EMEA: Largest revenue generating region for automotive advanced suspension control system
The automotive advanced suspension control system market in EMEA was valued at almost 3 million units in 2015 and is expected to grow at a CAGR of around 9% by 2020. The rising demand for superior handling and riding technologies by the customers will propel the growth of the market during the forecast period. The European Commission has laid down regulatory norms for safety and emission which is resulting in increased adoption of light-weight power electronics in vehicles. The increased demand for powertrain technology premium and luxury car segment will help in the growth of this market. The vendors are investing in the development and advancement on suspension control system to provide better performing and fuel efficient cars.
“Companies are offering enhanced ride and handling technologies by developing and manufacturing advanced suspension technologies in their vehicles. Vendors are integrating ride-handling technologies with other frameworks and safety technologies to provide high performance and superior handling capabilities in their vehicles. Technological advances in automotive components and higher demand for optimal ride technologies will drive the market growth in the region,” says Siddharth J, a lead analyst at Technavio, specializing in research on automotive electronics.
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Automotive advanced suspension control system market in APAC
The automotive advanced suspension control system market in EMEA was valued at around 2 million units in 2015 and is expected to grow at a CAGR of more than 9% by 2020. Countries like China, India, and Japan are the key revenue generators in the APAC market. The vendors in the market are launching vehicles with electronically-controlled ride-handling technologies to increase their consumer base. Manufacturers are introducing automotive with vehicle safety, ease of driving, comfort, and convenience to meet the consumer requirements. Moreover, the companies are investing in technology to offer improved ride-handling technologies, like advanced suspension control systems to sustain the competition in the market. The introduction of emission, fuel efficiency, and safety norms in key countries such as India, China, South Korea, and Japan will help in revolutionizing the market over the period of next four years. The growing demand for fuel-efficient vehicles will prompt OEMs to invest in technological advances for better vehicular performance.
Automotive advanced suspension control system market in the Americas
The automotive advanced suspension control system market in the Americas was valued at almost 2 million units in 2015 and is expected to grow at a CAGR of around 7% by 2020. Growing demand and sales of electric with semi-active and active suspension technologies will lead to the growth of the American market. The North American market is observing the introduction of electronically-controlled suspension systems to increase the performance of SUVs and luxury sedans. The integration of innovative technologies, quality products, and management techniques will help the vendors in the region to sustain the competition in the market. The automakers are investing to provide better off-road capabilities and advanced electronically-controlled suspensions to increase their sales and improve their revenue generations.
The top leading vendors operating in the global automotive advanced suspension control system market are:
- Continental
- ThyssenKrupp
- Infineon Technologies
- BWI Group
Other prominent players in the market are Mando and Lord.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Advanced Suspension Control System Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Electronically Controlled Air Suspension Market in Commercial Vehicles 2016-2020
- Auto Component Market in India 2016-2020
- Global Automotive Advanced Emergency Braking System Market 2016-2020
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