Rockville, June 30, 2023 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, predicts that the Regenerative Suspension System Market 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.
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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.
Competitive Landscape
Leading suppliers of regenerative suspension systems are still conducting research and development. For optimal energy yield, businesses are experimenting with numerous variants and testing the results. Researchers have completely done away with conventional steel springs and shock absorbers in order to concentrate on other forces for the conversion of power into energy.
The potential of this technology is enormous if businesses can produce accurate estimates, increased energy yield, and optimised costing.
Furthermore, soon the major players would be concentrating on tactics like partnerships and acquisitions to expand their product portfolios and acquire technical know-how to create superior regenerative suspension systems.
For Instance:
- In 2020, Guident announced gaining an exclusive license to U.S. patent # 8,941,251 from the Research Foundation of the State of New York for new regenerative shock absorber technology. This patent allows the manufacturing of electromagnetic regenerative shock absorbers with a high energy density that can recover a vehicle's vibrational energy.
- In a recent development, Israeli start-up SoftWheel announced a technology that can harvest energy and absorb shocks for electric vehicles. The company says that quite a few car manufacturers have approached them regarding this technology.
- Audi has developed a prototype suspension system called eROT that uses the motion of shock absorbers to generate electricity.
- Intertronic Gresser GmbH, in Germany, was granted patents in the U.S., Europe, and China for the novel invention 'electricity-generating suspension system' for hybrid and electric cars.
Key Companies Profiled
- Audi
- Guident
- Intertronic Gresser GmbH
- Levant
- SoftWheel
- ZF Friedrichshafen AG
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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.
Segmentation of Regenerative Suspension System Industry Research
- By Suspension Type:
- MacPherson Strut
- Double Wishbone
- Dual Beam
- Multi-link
- Others
- By Technology:
- Hydraulic
- Electromagnetic
- Linear
- Rotary
- By EV Type:
- Passenger Cars
- Mid Size
- Compact
- Luxury
- Commercial
- LCVs
- HCVs
- Buses & Coaches
- Passenger Cars
- By System Type:
- Active Suspension
- Semi-active Suspension
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global regenerative suspension system, presenting forecast statistics for the period till 2032.
The study reveals essential insights on the basis of suspension type (macpherson strut, double wishbone, dual beam, multi-link, others), technology (hydraulic, electromagnetic including linear, rotary), EV type (passenger cars, including mid-size, compact, luxury, commercial, including LCVs, HCVs, buses & coaches), and system type (active suspension, semi-active suspension), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Check Out More Related Studies Published by Fact.MR Research:
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Air Ride Suspension Systems Market: Increasing demand for luxury and premium vehicles influencing air ride suspension systems market growth. Air ride suspension is a type of vehicle suspension powered by electric air pump or engine or compressor.
Advanced Suspension Control System Market: The global advanced suspension control system market is estimated to experience prominent growth with introduction of electric vehicles which are gaining popularity in the global market.
Train Suspension System Market: Over the forecast period, a number of reasons, including urban population growth and an increase in office employees, particularly in emerging nations, are expected to propel the global train suspension system market.
Heavy Vehicles Suspension Anti-Vibration Components Market: The increasing adoption of electric vehicles is expected to restrain the growth of the global heavy vehicles suspension anti-vibration components market. Moreover, the rising trend for repair rather than replacement is also likely to act as a major restraint.
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