Demand for regenerative suspension system market to reach US$ 4.37 billion revenue by 2032 end
The global regenerative suspension system will reach US$ 4.37 billion by the end of 2032. The market is set to grow due to increasing use of both, passenger as well as commercial electric vehicles, across the world.
New automobiles are increasingly coming with regenerative brakes as an energy-saving feature, and soon, another engineering innovation – regenerative suspension – could become a trend in the automotive market. Regenerative suspension systems have become highly attractive to industries and researchers alike in the past decade. The resulting vibrations between the road surface and the car body while driving on irregular road surfaces leads to the dissipation of vibration energy in the form of heat as waste. Regenerative shock absorbers assist in recovering this vibration energy, which can be converted into electricity. The battery packs of hybrid and electric vehicles can be fuelled by the electricity harvested by these regenerative systems.
Regenerative suspension systems differ on the basis of technology – hydraulic and electromagnetic, including linear and rotary dampers. Product developers are trying to implement different conventional as well as latest suspension types in regenerative suspension systems. Multi-link and double-wishbone independent setups are the most expensive and complex types.
As the world continues to adopt electric vehicles, researchers and developers are also undergoing changes in the direction of their research to achieve maximum energy yield. Owing to the high cost of components, regenerative suspension systems are initially expected to be deployed in premium electric vehicles and later on in other vehicle segments.
Key Takeaways from Market Study
- The global regenerative suspension system market is projected to reach a valuation of US$ 4.37 billion by 2032.
- Under technology type, electromagnetic regenerative suspension systems are estimated to be valued at US$ 4 billion by 2032.
- Under suspension type, multi-link variants will dominate the EV market.
- Europe is expected to dominate the global market with 21.8% market share by 2032.
“Premium passenger electric vehicles expected to reflect lucrative near-term opportunities for regenerative suspension system manufacturers,” says a Fact.MR analyst.
Market Development
Electric vehicle manufacturers are consistently seeking cost-effective approaches to improve the driving range of their vehicles. Harvesting the kinetic energy of a vehicle through a regenerative suspension system could help achieve the goal of advancing global mobility towards more energy-efficient transportation.
Developers are concentrated on making regenerative suspension systems that are capable of doubling the normal EV range of 200 miles to 400 miles, which would be a 100% gain. Companies are eliminating conventional components used in suspension systems to minimize losses and improve efficiency. After successful trials and implementation, OEMs and industry leaders might look for strategic partnerships and collaborations to gain technical expertise and accelerate product development.
