Advanced Suspension Market Introduction
A suspension system in automobiles is built with various components including shock absorbers, springs, and the linking between wheels and the vehicle. A suspension system in a vehicle contributes majorly to the vehicle’s road handlings as well as braking, in order to provide safety and convenience at driving. Advanced suspension systems can offer maximum resistibility towards the shocks received from poor road conditions with excellent performance and comfortable ride.
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Advanced suspension systems are employed in most luxury vehicles as well as in military vehicles, as these vehicles require powerful engines and heavy duty suspension systems. Leading manufacturers in the advances suspension market are offering extraordinary control to the driver over body motion in order to ensure that the vehicle is flat and stable on the road below pitches and heaves. Advanced suspension market players are introducing upgrades in existing systems to attract Tier I companies in the automotive industry.
Advanced Suspension Market – Notable Developments
- Benteler Automobiltechnik GmbH – a German manufacturer in the advanced suspension market – has been active in China since the past decade and the company has directed its efforts towards strengthening its position in the Asia-Pacific region in the coming future. As a part of its Asia-Pacific growth strategy, the company established a joint venture with FAWAY Automobile Components Co., a Chinese auto part manufacturer, in June 2018. The new plant of the new company – FAWAY BENTELER Automotive Components (Tianjin) Co., Ltd. – focus on manufacturing chassis systems to match local customers’ demands with reliable and innovative system solutions, including advanced suspension.
- WABCO Vehicle Control Systems, an American manufacturer of electronic braking and suspension for heavy vehicles, announced in February 2019 that it has signed a US$ 230 million agreement with a European manufacturer of premium cars to develop and provide innovative air suspension technology along with control software to operate various configurations of the advanced suspension system. The advanced suspension module by WABCO includes state-of-the-art compressors integrated with an air intake filter and air dryer, an air-flow distribution valve-block that controls air spring actuation, as well as an acoustic and vibration isolation system.
- Ford Motor Company, one of the leading American auto manufacturers, announced in January 2019 that it will soon launch its latest Mustang and the new model takes advantage of next-generation active MagneRide™ suspension. The company aims to set a new standard among premium cars in the U.S. by launching the sixth-generation Mustang with high-tech features including a powerful street-legal V8 engine, the quickest-shifting transmission, and advanced suspension.
Some of the most prominent competitors operating in the competitive landscape of global advanced suspension market include –
- Benteler Automobiltechnik GmbH
- Daimler AG
- Ford Motor Company
- Fiat SpA
- Audi AG
- Benteler International AG
- Bose Corporation
- Delphi Automotive LLP
- Bridgestone Americas, Inc.
- BMW North America LLC
- Freudenberg Sealing Technologies GmbH & Co. KG
- Hitachi Automotive Systems Ltd.
- General Motors Corporation
- Hendrickson USA LLC
- Continental AG
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Advanced Suspension Market Dynamics
Advances Suspension are Witnessing Heavy Demand with Growing Needs for Vehicle and Occupant Protection
Consumers across the world are becoming more conscious about the safety features of vehicles, which mainly influences their purchasing decisions. Consumers critically compare cars by their driver assistance systems as well as passive safety features before making a purchase. Thereby, automotive manufacturers are adopting advanced automotive components to further enhance the safety systems of their vehicles. Manufacturers in the advanced suspension market are promoting the benefits of advanced suspension systems in protecting passengers as well as vehicles from poor road conditions to attract end-users and meet the consumer needs for vehicle and passenger protection features.
Due to its High Cost, the Market Penetration of Advanced Suspension Remains Confined to Premium Cars
Growing awareness about the extraordinary benefits and excellent performance characteristics of advanced suspension systems is bolstering growth of the advanced suspension market. However, despite the benefits of incorporating advanced suspension systems, their high cost is creating challenges for automotive manufacturers to limit their production costs. Thereby, the demand for advanced suspension systems from economy vehicle manufacturers is likely to remain low in the upcoming years. Limited penetration of advanced suspension market among luxury and premium car manufacturers across the world is likely to impact the market growth negatively in the upcoming years.
Advanced Suspension Market Segmentation
Based on its types, the advanced suspension market is segmented into
- Active Electromagnetic Suspension Systems
- Semi-Active Suspension Systems
Based on its applications, the advanced suspension market is segmented into
- Light Vehicles
- Heavy Vehicles
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