Industry Background:
Air springs are the spring which is made up of rubber bags filled with air and these springs work as the suspension in heavy duty vehicle and are way better than conventional suspension systems which were leaf of coil suspension as they were costly, heavy weight, less in comfort view and many more., Air Springs are being chosen for suspension of heavy weight carrying vehicle like tucks, trolley, containers and others. Extensive elastic range of air spring are being noticed by manufacturers and users as air inside the bags can be filled or removed with the adjustable knob according to the user need. and Advancement in technology of suspension system with design optimization of air spring and demand of customization is thriving the Global Air spring Market promisingly towards the growth.This growth is primarily driven by Rising Demand for Enhanced Air Suspension Modules for the Safety of the Passenger and Vehicles
.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Auto Parts & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Continental AG (Germany), ThyssenKrupp AG (Germany), Wabco Holding Inc. (Belgium), Hendrickson International Corporation (United States), Dunlop Systems and Components (United Kingdom), Hitachi Ltd. (Japan), Firestone Industrial Products Company, LLC. (United States), ACCUAIR SUSPENSION (United States), Mando Corp. (South Korea), BWI Group. (China), Vibracoustic (Germany), Tata AutoComp Systems Ltd (India), VB-Air suspension (Netherland) and Arnott Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In June 2019, WABCO Holdings, a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, announced the decision of its shareholders to approve the acquisition of the company by the privately held company ZF Friedrichshafen AG ("ZF"). welcomed A global technology company and systems supplier for passenger cars, commercial vehicles and industrial technology.
24th January 2019, Vibracoustic automotive NVH expert’s three-chamber air springs selected as an option on the new Porsche Cayenne.
Influencing Trend:
Emphasizing On Switchable Air Springs and Development of Electronically Controlled Air Suspension Systems
Market Growth Drivers:
Rising Demand for Enhanced Air Suspension Modules for the Safety of the Passenger and Vehicles and Increasing Demand of Air Suspension System to Reduce Vibration, Harshness, and Noise In Automotive
Challenges:
Popularity of Leaf Spring Suspension for Heavy Vehicle Such As Trucks
Restraints:
Slow Response and Inability to Response to Changing Road Conditions and Heavy and Complicated In Nature As It Requires Network of Air Hoses Junction Regulators and Control Valves for Its Proper Functioning
Opportunities:
Increasing Demand of Air Springs for Performance Trucks and Luxurious Buses and Rising Sales of Automotive From Emerging Economies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Air Spring Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Air Spring Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Air Spring players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Air Spring Study Sheds Light on
The Air Spring Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Air Spring industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Air Spring industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.