What is Air Suspension Market?
Air suspension, a vehicle suspension type is powered by an electric or compressor or engine-driven air pump. The compressor drives the air into a flexible bellows, typically made from textile-reinforced rubber. The air pressure expands the bellows, & raises the chassis from the axle. Air suspension is used to provide a smooth as well as improved ride comfort & quality. The vehicle suspension driven by the compressor or by engine-driven air pump is called the air suspension. It is used in case of the conventional steel springs in the passenger cars as well as in huge & heavy vehicles including buses and trucks. The key purpose of air suspension is to offer a smooth and constant ride quality. Sometimes, it is also used for sports suspension. Growing demand for luxury buses, as well as rising demand for luxury & comfort are likely to drive growth of the global air suspension market.
Highlights from Air Suspension Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | 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), BWI Group (China) and SigGear Antriebssysteme GmbH (Germany) |
Research Analyst at AMA predicts that German and United States Vendors will contribute to the maximum growth of Global Air Suspension market throughout the forecasted period.
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), BWI Group (China) and SigGear Antriebssysteme GmbH (Germany) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are HEMSCHEIDT chassis technology GmbH & Co. KG (Germany), Mando Corporation (South Korea) and ZIMMER GROUP (Germany).
Air Suspension Market Segmentation:
Scope | Sub-Segments |
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Technology | Electronically Controlled Air Suspension System,Non-Electronically Controlled Air Suspension System |
Vehicle Type | Passenger Cars,Trucks,LCVs,Buses |
Component | Air Springs,Air Compressor,Shock Absorbers,Air Compressor,Electric Control Unit,Height Sensors |
On the basis of geography, the market of Air Suspension has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Paired with raising commercial vehicles sales, is expected to boost the demand for the air suspension market
Market Growth Drivers:
Growing Demand for Luxury Buses and Rising Demand for Luxury & Comfort
Challenges:
Keeping a Balance between the Cost & Quality of Advanced Technology
Restraints:
Growing Development & Adoption Cost of Advanced Suspension Systems
Opportunities:
Regenerative Air Dryer in Electronically Controlled Air Suspension System and Growing Demand for Lightweight Air Suspension Systems
Key Target Audience
Air Suspension Systems Manufacturers, Raw Material Suppliers to Air Suspension Component Manufacturers, Traders, Distributors, and Suppliers of Air Suspension Components, Automobile Industry as End User and Government, Research Institutes, and Industry Associations
Market Leaders & Development Strategies
In June 2019, WABCO Holdings, a leading global supplier of technologies and services that improve the safety, efficiency, and connectivity of commercial vehicles, today welcomed the decision of its shareholders to approve the company's acquisition by ZF Friedrichshafen AG, a privately held global technology company. I did. System supplier for passenger cars, commercial vehicles and industrial technology.