Global Automotive Performance Suspension System Market 2019-2023 | 8% CAGR Projection Through 2023 | Technavio
LONDON--(BUSINESS WIRE)--Dec 18, 2019--
The global automotive performance suspension system is expected to post a CAGR of almost 8% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global automotive performance suspension system market 2019-2023. (Graphic: Business Wire)
Air suspension system comprises of airbags made of polyurethane and rubber and air springs. It is integrated with an on-board compressor that feeds compressed air into the airbags to absorb the impact from the road and reduce vibration and engine noise. Air suspension systems also improve vehicle handling by automatically adjusting the height of the vehicle and reducing wind resistance on highways. These benefits have encouraged many high-performance car manufacturers to replace conventional coil-based suspension systems with advanced air-suspension systems to improve the handling and comfort of the vehicles. This is expected to drive the growth of the global automotive performance suspension system during the forecast period.
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As per Technavio, the integration of active steering controls within performance suspension systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Automotive Performance Suspension System Market: Integration of Active Steering Controls Within Performance Suspension Systems
Vehicle manufacturers are integrating various features with performance suspension systems to improve the overall operational efficiency and handling capabilities of the vehicle. BMW’s new hybrid high-performance vehicle, BMW X5 xDrive45e iPerformance is equipped with active steering control which is integrated to a two-axle air suspension system with electronically adjustable dampers. The integration of an active steering system with performance suspension greatly improves the handling capabilities of the vehicle. This trend will have a positive impact on the growth of the automotive performance suspension system market during the forecast period.
“Lightweighting of the performance suspension system and the advent of an active suspension system will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Automotive Performance Suspension System Market: Segmentation Analysis
This market report segments the global automotive performance suspension system market by application (non-electric vehicles and electric vehicles) and geography (Americas, APAC, and EMEA).
The Americas region led the market in 2018, followed by EMEA and APAC respectively. During the forecast period, the Americas region is expected to maintain its dominance over the market. This is due to the increasing sale of luxury vehicles, sports cars, and high-performance electric cars in the region.
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INDUSTRY KEYWORD: GENERAL AUTOMOTIVE AUTOMOTIVE PERFORMANCE & SPECIAL INTEREST
SOURCE: Technavio Research
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PUB: 12/18/2019 12:00 PM/DISC: 12/18/2019 12:01 PM