Automotive Electronic Air Suspension System Market Introduction
Automotive electronic air suspension system is an advanced suspension system designed and manufactured to offer enhanced comfort, safety, and a sportier ride handling to the driver of the vehicle. The automotive electronic air suspension system automatically adjusts the damper and vehicle height according to the driving conditions, suspension levels, and load changes. The automotive electronic air suspension system can also be tailor-made for according to different types of vehicles, and major car brands are developing such vehicles integrated with automotive electronic air suspension system.
Automotive Electronic Air Suspension System Market - Competitive Landscape
- In 2017, Continental AG presented its new highly integrated CAirS (Continental Air Supply) module for air suspension systems. This newly integrated air supply system are easy to install owing to simple design. The CAirS employs a scalable range of functions, letting it to be applicable for simple level control or for entirely integrated solutions which regulates all spring rate and damping tasks.
Established in 1869, Wabco, with headquarters in Brussels, Belgium, is a leading supplier of the vehicle technologies and services, which improve safety, connectivity, and efficiency of vehicles. The company operates in the automotive segment only and engages in the design, development, manufacture, and sale of integrated systems controlling advanced braking, suspension, stability, and transmission automation as well as air compression and processing, primarily for commercial vehicles. Wabco is a pioneer in the supply of advanced emergency braking systems homologated in Europe.
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Founded in 1930, Tenneco Inc. has its headquarters in Lake Forest, Illinois, U.S. The company is a leading designer, manufacturer, and distributor of clean air and ride performance products and system for automotive across the globe. The company operates in the automotive segment only, and it is a major supplier of clean air, ride performance, and suspension products.
Magneti Marelli S.p.A
Established in 1919, Magneti Marelli S.p.A currently has its headquarters in Milan, Italy. Magneti Marelli S.p.A is prominent global company that specializes in the design and production of high-tech automotive systems and components. The company’s products are powering the top vehicle manufacturers of the U.S., China, and Europe. The company is a subsidiary of FCA (Fiat Chrysler Automobiles).
Automotive Electronic Air Suspension System Market Dynamics
Demand for better vehicle riding comfort coupled with improved driving dynamics are driving demand for automotive electronic air suspension system
Rise in discomfort while driving due to vibration and jerks caused primarily due to uneven terrain complicates vehicle ride handling, which sometimes results in road fatalities, thereby causing severe damage to both the vehicle and the motorist. However, a rise in the demand for improved comfort while vehicle riding is boosting the demand for automotive electronic air suspension system. Additionally, the popularity of the automotive electronic air suspension system is increasing significantly due to its ability to offer numerous benefits, apart from being used to adjust damping and spring rate, such as stress-free driving, improved vehicle ride handling, better stability and turn-off response, and increase in driving dynamics. These factors are projected to boost the automotive electronic air suspension system in next few years.
Rise in sales of passenger car around the world
Sales of passenger cars have been rising at a considerable pace in the last few years, due to rising usage and surging demand for passenger cars. Decrease in car loan interest rates with personalized financial schemes offered by numerous banks, OEMs, and vehicle dealers, change in living standards in several developing region, and surge in per capita income of consumers are boosting the demand for passenger cars. This is projected to propel the demand for automotive electronic air suspension system, owing to its increasing popularity in modern cars.
High price tag and maintenance cost of the system to hinder the automotive electronic air suspension system market
Automotive electronic air suspension system is quite expensive as compared to manual air suspension, owing to its complex design and extensive use of electronic machinery and equipment, which fuels the cost. Moreover, maintenance cost of the automotive electronic air suspension system is high. This is majorly due to higher repair cost owing to extensive utilization of electronic components such as sensors and control unit. This is a key factor that is likely to hamper the automotive electronic air suspension system in the near future.
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Automotive Electronic Air Suspension System Market Segmentation
Based on component, the automotive electronic air suspension system market can be split into
- Shock Absorber
- Air Suspension Unit
- Electronic Control Unit
- Height Sensors
Based on vehicle type, the automotive electronic air suspension system market can be bifurcated into
- Passenger Vehicle
- Commercial Vehicle
Based on propulsion, the automotive electronic air suspension system market can be divided into
Based on sales channel, the automotive electronic air suspension system market can be segregated into
The report on automotive electronic air suspension system market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The automotive electronic air suspension system market report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The automotive electronic air suspension system market report also maps the qualitative impact of various market factors on market segments and geographies.
Regional analysis of the automotive electronic air suspension system market includes:
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.