There are three types of automotive suspension systems: passive, semi-active, and active. In passive suspension systems, vertical movement of the wheel mainly depends on the surface, while semi-active and active suspension systems actively control vertical movement. Major drawbacks of active suspension systems include high costs and frequent maintenance requirements.
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There are two types of automotive suspension systems based on type: hydraulic and electromagnetic. Electromagnetic suspension systems are growing at a fast pace due to increasing number of high-end vehicles that offer better ride quality and superior control. These suspension systems minimize rolling of the vehicle while cornering, accelerating, and braking. Despite its benefits, high prices remain the key restraint for the growth of electromagnetic suspension systems. However, during the forecast period, the companies are expected to slash the prices of these systems.
Technological advancements in automotive suspension systems have led to the evolution of electrical generator suspensions. These suspensions serve their usual purpose and also act as a source of power for certain energy needs of the vehicle. This technology is in its nascent phase and is expected to grow at a significant pace during the forecast period. For example, ZF Friedrichshafen AG, a car parts manufacturer based in Germany, uses the GenShock energy-recovery suspension, an electrical generator suspensions system. Although the automotive suspension market is growing exponentially, certain restraints such as lack of standardization and high prices of independent suspension systems are hindering its growth.
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Asia Pacific dominated the global automotive suspension systems market in 2013, followed by Europe. China, Japan, South Korea, and India are the major automotive suspension systems markets in Asia Pacific, while Germany, France, and the U.K. dominated sales in Europe. Major companies in automotive suspension systems market include the Benteler Group, Continental AG, KYB Co., Ltd., Magneti Marelli S.p.A., Mando Corporation, Schaeffler AG, Tenneco Inc., TRW Automotive Holdings Corporation, WABCO Holdings Inc., and ZF Friedrichshafen AG.
Key geographies evaluated in this report are:
- North America
- France, Germany, Italy, Spain, and the UK
- Eastern Europe
- Latin America
Key features of this report
- Drivers, restraints, and challenges shaping the Automotive Suspension Systems market dynamics
- Latest innovations and key events in the industry
- Analysis of business strategies of the top players
- Automotive Suspension Systems market estimates and forecasts(2015 -2021)
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