The automotive electronic suspension system is fundamentally a computer-operated system that can make changes in the performance and ride characteristics of a vehicle. The automotive electronic suspension system adjusts the struts and/or shocks electronically to guarantee a comfortable ride. Certain automotive electronic suspensions systems are also designed to adjust to the altering conditions of the road automatically for enhanced control in all terrains.
Demand for light vehicles and passenger vehicles with enhanced safety features is rising due to an increase of the numerous economic segments such as agriculture, construction, and small enterprises. This, in turn, is projected to boost the automotive electronic suspension system market in the near future. Expansion of the automotive electronic suspension system market can be attributed to the exponential expansion of the automobile industry and consistent rise in number of light commercial vehicles and heavy commercial vehicles. Furthermore, rise in sales of light commercial vehicles coupled with the surge in buying power of customers is boosting vehicle production, which in turn is anticipated to propel the demand for electronic suspension system. Stringent safety norms mandated by various governments and organizations and increased emphasis on performance, effectiveness, and efficiency of the automobile have prompted numerous OEMs and key manufacturers to focus on the integration of electronic suspension system in the passenger vehicle segment. However, there are many selections available for the car suspension units, comfort, flexibility, and smooth driving are the strengths of electronic suspension system in vehicle, which is likely to boost the adoption of the automotive electronic suspension system. These factors are anticipated to drive the automotive electronic suspension system market during the forecast period.
The global automotive electronic suspension system market can be segmented based on type, vehicle type, and region.
According to type, the automotive electronic suspension system market can be bifurcated into air suspension unit, and three other segments. Continental AG is major supplier of electronic air suspension system. Electronic air suspension system regulates itself to compensate for changing load conditions.
In terms of vehicle type, the market can be split into passenger vehicle and commercial vehicle. The passenger vehicle segment dominated the market in 2017, as the rate of adoption of technology is higher in passenger vehicles, as compared to that of commercial vehicles.
Based on region, the automotive electronic suspension system market can be divided into Europe, Asia Pacific, North America, Middle East & Africa, and Latin America. Europe is likely to lead the global automotive electronic suspension system market owing to the presence of major manufacturers of electronic suspension system in countries such as Germany and the U. K.
Major global players operating in the automotive electronic suspension system market are ThyssenKrupp Bilstein, Infineon Technologies, BWI Group, Lord, Mando, and Continental AG. Continental AG and Mando are likely to lead the global market. Mando provides automotive components such as suspensions and brakes to major OEMs such as Volkswagen, GMC, and Ford. Continental AG is a pioneer of the electronic suspension system, as company’s electronic air suspension system accounted for a notable share of the market in 2017, making Continental AG a leader in the global automotive electronic suspension system market.
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