Global automotive suspension system market to grow at a CAGR of 4.03% during the period 2017-2021.
According to the report, one of the major drivers for this market is electronic suspension systems for efficient ride handling and safety. The automotive suspension system is evolving at a rapid pace. Ride technologies and systems are improving as safety and driving experience are becoming top priorities for customers, driving their purchase decisions. Manufacturers of suspension systems depend on new technologies and their expertise to maintain their competitive edge in ride-related technologies. As a result, the global automotive suspension system market is witnessing technological developments in the form of lightweight, air-controlled, and electronically controlled suspension systems.
The latest trend gaining momentum in the market is the multimode suspension system. An active adjustable suspension system in a supercar is not something unique, but the suspension system in the latest Ford GT is something exceptional. Ford has used all its engineering expertise in developing this active adjustable multimode suspension system. The Ford GT suspension system replaces the traditional coil spring with a pushrod-actuated torsion bar. The pushrod actuated torsion bar creates space for giant aero passages by moving the other major components of the suspension system inboard owing to the aerodynamic design of the vehicle.
Further, the report states that one of the major factors hindering the growth of this market is the high replacement cost of individual components.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.