The rapid spread of the COVID-19 pandemic in 2020 led to the temporary closure of automobile manufacturing facilities across the world. This had affected the production and demand of vehicles as well as the components such as automotive active suspension systems. With the resumption of manufacturing activities in the automotive sector coupled with stimulus packages given by governments to businesses, Technavio predicts healthy growth in the automotive active suspension market over the forecast period.
The market is expected to be driven by factors such as increasing demand for comfort with a smoother driving experience, growing use of advanced body control as a product differentiator, and increasing electrification in vehicles.
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Automotive Active Suspension System Market: Opportunities
The global automotive industry is witnessing an increased demand for electric and luxury vehicles with enhanced comfort and safety. This can be attributed to the increased purchasing power of consumers, which is increasing the importance of various aspects such as vehicle safety, ease of driving, comfort, and convenience. These factors are necessitating the need for better handling technologies, such as active suspension systems in vehicles.
Automotive Active Suspension System Market: Segmentation by Application
Based on the segmentation by type, the market generated maximum revenue in the hydraulic actuator segment in 2020. Hydraulic actuators are widely used by many prominent automakers. This is due to the benefits offered by hydraulic actuators such as more ruggedness, less power loss, high-pressure generation suitable for high force applications, and overall better power-to-weight ratio. These factors are expected to foster the growth of the segment over the forecast period.
Automotive Active Suspension System Market: Segmentation by Geography
North America held the largest market share in 2020 and the market growth in the region is expected to be slower compared to the growth of the market in MEA. The growth of the market in North America can be attributed to the high penetration of premium and luxury segment vehicles in the US and Canada. In addition, the increasing consumer demand for luxury SUVs is expected to drive the growth of the automotive active suspension system market in North America during the forecast period.
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Automotive Active Suspension System Market: Major Vendors
Continental AG
The company develops, produces, and integrates active and passive safety technologies and controls vehicle dynamics. The company offers electronic suspension systems.
Daimler AG
The company develops and produces vehicles in a global network under the Mercedes Benz, Freightliner, Western Star, FUSO, and BharatBenz brands. The company offers AIRMATIC active suspension system.
Infineon Technologies AG
The company offers automotive active suspension systems for two highly specific niche markets: luxury and sports cars.
Marelli Holdings Co. Ltd.
The company offers products under categories such as automotive lighting, cabin comfort, electric powertrain, thermal solutions, ride dynamics, and electronics. The company offers Automotive Active Suspension System.
Parker Hannifin Corp.
The company manufactures hydraulic, fuel, pneumatic, and electromechanical systems and components for all domestic, commercial, military, and general aviation aircraft. It also performs a vital role in naval vessels and land-based weapons systems. The company offers MR semi-active suspension systems.
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Hydraulic actuator - Market size and forecast 2020-2025
- Pneumatic actuator - Market size and forecast 2020-2025
- Electromagnetic actuator - Market size and forecast 2020-2025
- Market opportunity by Application
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- APAC - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
- Competitive landscape
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Continental AG
- Daimler AG
- Hitachi Ltd.
- Hyundai Mobis Co. Ltd.
- Infineon Technologies AG
- Marelli Holdings Co. Ltd.
- Parker Hannifin Corp.
- Tenneco Inc.
- thyssenkrupp AG
- ZF Friedrichshafen AG
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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Report: www.technavio.com/report/automotive-active-suspension-system-market-industry-analysis
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