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Advanced Suspension Control System Market Analysis 2022 Global Industry Size, Key Vendors, Trends, Competitive Landscape By Key Segmentation, Outlook To 2031 | Continental AG, Thyssenkrupp AG, Infineon Technologies AG, BWI Group, Mando Corp, Schaeffler AG
Advanced Suspension Control System Market
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The global advanced suspension control system market report by the business research company identifies growth in the automotive industry to be a major growth driver for the advanced suspension control system market. The automotive industry refers to a wide range of businesses and organisations that are involved in the design, development, manufacture, marketing, sale, and distribution of automobiles. An advanced suspension control system is necessary to be implanted in the vehicle to support the weight of all mounted elements and provide stability to the vehicle. For instance, in May 2022, according to the India Brand Equity Foundation, an Indian government export promotion agency, the total automobile industry sales in terms of units in India increased by 5.8% to reach 18.49 million units in 2021, as compared to the sales of 17.47 million units in 2020. Furthermore, according to the Alliance for Automotive Innovation, a US-based trade association, automotive sales will increase by 14 million units in 2020.
The global advanced suspension control system market size is expected to grow from $11.50 billion in 2021 to $12.67 billion in 2022 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The advanced suspension control system market is expected to grow to $18.73 billion in 2026 at a CAGR of 10.3%.
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North America will be the largest region in the advanced suspension control system market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this advanced suspension control system report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Major players in the advanced suspension control system market are Continental AG, ThyssenKrupp AG, Infineon Technologies AG, BWI Group, Mando Corp, Schaeffler AG, ZF Friedrichshafen AG, Marelli Europe S.p.A, Hitachi Automotive Systems, Lord Corporation, Parker Hannifin Corp, Hendrickson USA L.L.C., ANZE Suspension, Tenneco Inc, and KYB Corporation.
The global advanced suspension control system market is segmented -
1) By Product Type: Semi-Active Suspension System, Active Suspension System
2) By Vehicle Type: Passenger Car, LCV (Light Commercial Vehicle), HCV (Heavy Commercial Vehicle)
3) By Sales Channel: OEMs, Aftermarket
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The Advanced suspension control system Market Report Contents Include
1. Executive Summary
2. Advanced Suspension Control System Market Characteristics
3. Advanced Suspension Control System Market Trends And Strategies
4. Advanced Suspension Control System Market - Macro Economic Scenario
5. Advanced Suspension Control System Market Size And Growth
....
27. Advanced Suspension Control System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Advanced Suspension Control System Market
29. Advanced Suspension Control System Market Future Outlook and Potential Analysis
30. Appendix
This report covers the trends and market dynamics of the advanced suspension control system market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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