About Automotive Air Suspension Systems
An air suspension, also known as pneumatic suspension system, comes with airbags or air springs instead of metal springs or coils to support the axles of a vehicle. These spring or bag are made of textile-reinforced rubber or plastic. They contain compressed air that aerates the bellows and elevates the chassis to adjust the overall height (lifting or lowering) of a vehicle. It is usually fitted under a car frame or in a trunk. It captivates the atmospheric air into its in-built pump and the initiates a compression process to an estimated 240MPa pressure. An air suspension system is an advanced technology used in modern vehicles to enhance ride comfort, handling, and overall performance. It provides a smoother and more comfortable ride by utilising air springs and sophisticated control systems, allowing drivers to adjust the vehicle's height to suit various road conditions or loading requirements.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.17% |
Automotive Air Suspension Systems is a fragmented market due to the presence of several players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Automotive Air Suspension Systems market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Continental AG (Germany), Hendrickson (United States), ThyssenKrupp (Germany), WABCO (France), Dunlop Systems and Components (United Kingdom), Hitachi (Japan), LORD Corporation (United States), Delphi Corporation (United Kingdom), ZF (Germany), Firestone Industrial Products (United States) and Accuair Suspension (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Mando (South Korea), AB Volvo (Sweden) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Automotive Air Suspension Systems market by Type (Convoluted, Rolling Lobe, Coil Spring Bellows and Others), Application (Passenger Cars, Buses & Trucks, Trains and Others) and Region.
On the basis of geography, the market of Automotive Air Suspension Systems 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). If we see Market by Component, the sub-segment i.e. Shock Absorber will boost the Automotive Air Suspension Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing focus on eco-friendly and sustainable air suspension solutions.
Market Growth Drivers:
Rising global commercial vehicle sales. and Increasing demand for comfortable and smooth rides, especially in luxury and commercial vehicles.
Challenges:
Air suspension systems are more complex than traditional systems, making repairs and maintenance potentially more expensive.
Restraints:
High development and adoption cost. and Complex maintenance and repair requirement compared to traditional suspension system.
Opportunities:
Increasing demand for lightweight air suspension systems. and Expansion of air suspension application in emerging market.
Market Leaders and their expansionary development strategies
In March 2019, ZF Friedrichshafen AG, a leading global technology group and supplier of mobility systems for passenger cars, commercial vehicles and industrial technology, announced entered into a definitive agreement to acquired WABCO for USD 136.50 per share. Together, ZF and WABCO form a leading global integrated mobility systems provider for commercial vehicles, creating added value for ZF’s commercial vehicle customers.
In July 2023, Commercial vehicle component maker Hendrickson launched air and mechanical suspension and axles for trailers in India, aiming to cater local terrain. They completed the acquisition of of Liteflex Composite Springs and offer lightweight, efficient systems. Hendrickson focuses on tailored products for the Indian market's needs.
Key Target Audience
Automotive Air Suspension Manufacturer, Automotive Air Suspension Supplier, Investor, End Users, Regulatory Authorities and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.