Global Automotive Electronically Controlled Air Suspension System Market

By Author: Rupali Dagade
Total Articles: 446
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Global Automotive Electronically Controlled Air Suspension System Market is anticipated to reach US$ XX Mn by 2026 from US$ XX Mn in 2020 at a CAGR of 5.7% during a forecast period.

Global Automotive Electronically Controlled Air Suspension System Market Overview

Automotive Electronically Controlled Air Suspension System is usually used in place of manual suspension, which maintains the vehicle height to the desired value and improves vehicle ride comfort and boosts the fuel economy by 3%. It works on electronic technology consist of pressure sensors and electronic control unit to achieve automatic variation of suspension features suitable to handling, riding, and road conditions. The report also covers the detailed analysis of the global automotive electronically controlled air suspension system industry with the classifications of the market based on component, vehicle type and region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player's contribution in it.
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... Methodology :- Request Free Sample Report The report has profiled key players in the market from different regions. However, the report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation of market size. The manufacturing environment in each region is different and focus is given to the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed.

Global Automotive Electronically Controlled Air Suspension System Market Dynamics

The demand for premium and comfortable rapid travel solutions is increasing, because of the rising urban population and economic growth in emerging countries. Different government and non-government organizations are taking initiatives to improve the traveler experience by adding an automotive electronically controlled air suspension system to luxury transit vehicles as this system transfers the automatic load to reduce the wear of the vehicle axle. Thus, the increasing popularity of electronically controlled air suspension among luxury and ultra-luxury cars, which is expected to boost the growth prospects for the global automotive electronically controlled air suspension market during the forecast period. Also, severe emission control and fuel efficiency norms in several countries are compelling original equipment manufacturers (OEM) to develop lightweight electronically controlled suspension systems. This in turn is expected to drive the growth of the automotive electronically controlled air suspension market during the forecast period.

Global Automotive Electronically Controlled Air Suspension System Market Segmentation Analysis

By Component, the electronic control unit is popularly used in vehicles incorporated with an electronically controlled air suspension system as it is used to achieve automatic variation of suspension features suitable to handling, riding, and road conditions. Also, its highlights like checking and assessing approaching signals from height and pressure sensors separately are creating demand for the electronic control unit, which is anticipated to reach CAGR XX% amid the forecast period.
By Vehicle Type, the passenger vehicles segment is expected to hold a major share of the automotive electronically controlled air suspension system market during the forecast period due to an increase in the production and sale of passenger vehicles of developed countries. Increase in demand for advanced features, rise in the standard of living, increasing purchasing power capacity, rise in per capita income of individuals, increasing industrialization, changing way of life and high disposable income are some of the factors for the growth of the automotive electronically controlled air suspension system market globally. The growing interest of consumers towards safety, premium, luxury, and comfortable vehicles along with strict emission norms by regulatory bodies to adopt advanced automotive electronically controlled air suspension system for fuel-efficient technologies. This in turn is expected to drive the growth of the passenger vehicles segment and thereby automotive electronically controlled air suspension system market during the forecast period.
The European region held the largest market share of the global automotive electronically controlled air suspension systems market in 2019 and is expected to continue the same dominance throughout the forecast period. The presence of established OEMs, like Continental AG, Delphi Technologies, and ZF Friedrichshafen AG, and the higher adoption rate of advanced automotive electronically controlled air suspension systems in several vehicle categories in the European market are expected to fuel the market in the region. Also, The Asia Pacific is expected to hold the largest market share of the global automotive electronically controlled air suspension systems market during the forecast period due to per capita income, growth in innovation & cutting-edge technology, and production & sale of several vehicles in countries like India and China.

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Global Automotive Electronically Controlled Air Suspension System Market Scope: Inquire before buying

Global Automotive Electronically Controlled Air Suspension System Market by Region:

• North America • Asia pacific • Europe • Middle East and Africa • South America

Global Automotive Electronically Controlled Air Suspension System Market Key Players

• Continental AG • ThyssenKrupp AG • ZF Friedrichshafen AG • Mando Corporation • Hitachi Ltd • Halla Holdings Corporation • SAF HOLLAND S.A. • Firestone Industrial Products • WABCO • Hendrickson USA, LLC • Delphi Technologies • LORD Corporation • Volvo • Air Lift Company • VB-Airsuspension

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