The air suspension market is projected to reach USD 8.4 billion by 2025 from USD 5.3 billion in 2018, at a CAGR of 6.76% during the forecast period. The air suspension market is primarily driven by the increasing demand for luxury buses for long distance traveling and growing significance of comfort and luxury in passenger cars.
With the increase in automation followed by adoption of latest technologies in automobiles, the demand for vehicles equipped with latest components such as air suspension system has increased leading to the growth of the vehicle sales across the different regions
This study presents the analytical depiction of the global air suspension market analysis along with the current trends and future estimations to depict imminent investment pockets.The overall air suspension market opportunity is determined by understanding profitable trends to gain a stronger foothold.The report presents information related to the key drivers, vehicle type, components,regions and opportunities of the global market with a detailed impact analysis.
Key Target Audience:
- Air suspension companies
- Automotive manufacturers
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to air suspension market
- Market research and consulting firms
In terms of the application, the market is categorized into LCV, trucks, buses and others. The LCV segment is predicted to achieve the largest growth due to its high demand over metal-spring based suspension systems On the other hand, the Government across the globe has made mandatory rules and regulations to replace metal-based spring systems in vehicles with air suspension system keeping safety and security in mind.
In terms of regional analysis, the market has been segmented into North America, South America, Asia Pacific, Europe and Middle East & Africa. Asia-Pacific air suspension market is growing at a brisk rate with China leading the numbers in the market. India is one of the largest passenger car markets in the world, however, the penetration of air suspension is low, which is anticipated to increase during the forecast period.
Europe is expected to account for the largest market share during the forecast period
Europe is projected to lead the air suspension market during the forecast period due to its higher adoption rate of air suspension across all vehicle types. In the light-duty vehicle segment, OEMs such as BMW, Mercedes-Benz, Porsche, Audi, and Land Rover offer ECAS technology in select models to enhance benefits such as height raising and lowering options. In the commercial vehicles segment, air suspension has a higher installation rate in semi-trailers and multi-axle buses. Also, technology-driven suppliers such as Continental, ThyssenKrupp, and SAF-Holland are constantly making efforts to introduce the latest technology in the field of air suspension for light and heavy-duty vehicles. All these factors have resulted in the growth of the air suspension market in the region.
Some of the key players in the air suspension market are Continental AG (Germany), ThyssenKrupp AG (Germany), Firestone Industrial Products (US), Hitachi Ltd. (Japan), Wabco Holdings Inc. (Belgium), SAF-Holland (Germany), Hendrickson International Corporation (US), Accuair Suspension (US), and Mando Corporation (South Korea). Continental adopted the strategies of expansion, new product development, collaboration, and mergers & acquisitions to retain its leading position in the air suspension market whereas ThyssenKrupp adopted expansion as a key strategy to sustain its market position
Segment Overview of Global Augmented Analytics Market
Component Overview, 2019-2025 (USD Million)
- Air Spring
- Solenoid Valve
- Shock Absorber
- Air Compressor
- Electronic Control Unit (ECU)
- Height & Pressure Sensor
Application Overview, 2019-2025 (USD Million)
- Light Commercial Vehicles (LCV)
By Technology Type
- Electronic Controlled
- Non-Electronic Controlled
By Sales Channel Type
- Original Equipment Manufacturers (OEMs)
Regional Overview, 2019-2025 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America