Global Automotive Air Suspension Market, By Technology (Electronically Controlled Air Suspension, Manually Controlled Air Suspension), Control Type (Electronically Controlled Air Suspension, Non-Electronically Controlled Air Suspension), Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Buses and Coaches), Component Type (Air Spring, Shock Absorber, Compressor, Electronic Control Module, Air Reservoir, Height Sensors, Others), Sales Channel (OEMs, Aftermarket) – Industry Trends and Forecast to 2029
Market Analysis and Size
Air suspension system is mainly used in an automobile to replace conventional steel springs. This system has a wider use in heavy vehicles such as rolling stock, buses, trucks and many other heavy vehicles. The main purpose of the air suspension is to deliver constant and smooth ride quality to passengers and drivers. These factors have positively impacted the growth of the air suspension market.
Data Bridge Market Research analyses that the automotive air suspension market was valued at USD 6.20 billion in 2021 and is expected to reach USD 9.96 billion by 2029, registering a CAGR of 6.10% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Technology (Electronically Controlled Air Suspension, Manually Controlled Air Suspension), Control Type (Electronically Controlled Air Suspension, Non-Electronically Controlled Air Suspension), Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Buses and Coaches), Component Type (Air Spring, Shock Absorber, Compressor, Electronic Control Module, Air Reservoir, Height Sensors, Others), Sales Channel (OEMs, Aftermarket)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Continental AG (Germany), Hitachi, Ltd. (Japan), ThyssenKrupp AG (Germany), Wabco Holdings Inc. (France), Dunlop Systems And Components Ltd. (U.K.), Accuair Suspension (U.S.), Firestone Industrial Products Company, LLC (U.S.), Hendrickson USA, L.L.C. (U.S.), BWI Group (China), Mando Corp. (South Korea), ZF Friedrichshafen AG (Germany), Parker Hannifin Corp (U.S.), AB Volvo (Sweden), Air Lift Company (U.S.), VB-Airsuspension (Netherlands)
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Market Opportunities
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Market Definition
The suspension of a vehicle which has operated by an air pump or engine-driven compressor is known as air suspension. Air suspension reduces fuel consumption and upsurges the stability that further helps to improve the comfort during driving the vehicle. The application of air suspension systems in automotive also reduces the vibration and noise and improves the capacity of vehicle to transport the loads by equalising the suspension.
Automotive Air Suspension Market Dynamics
Drivers
- Rising demand for electronic air suspension
A compressor or electric pump powers electronic air suspension system. It pumps air into flexible bellows which are normally made up of textile-reinforced type of rubber. An electronic air suspension controls the damping performance and their shock absorbers. The ring demand of electronic air suspension are expected to drive the growth of the automotive air suspension market.
- Rising production of vehicles
Increase in the production of commercial and passenger vehicles, upsurge the demand of the vehicles which has integrated with air suspension system. Therefore, the air suspension is a feature which is primarily prevalent in high-end models of vehicles and luxury vehicles. The rising demand of vehicle in the automotive industry are anticipated to drive the growth rate of the targeted market.
Opportunities
- Technological advancement
The advancement of Electronic technology in the automotive sector is anticipated to create immense opportunities for market growth during the forecast period due to the rising adoption of advanced technology systems. The manufacturers are focused to modify the struts or shocks electronically to confirm a smooth ride, unlike conventional air suspensions. For instance, many luxury passenger cars are being launched with electronically controlled air suspensions such as Porsche Cayenne, Land Rover Discovery, Audi A8, Mercedes S-Class and Volkswagen Touareg.
Moreover, upsurge in the strategic collaborations and rise the number of emerging new markets will also boost beneficial opportunities for the market’s growth rate.
Restraints/ Challenges
- High cost associated with product
The high cost related to the installation of whole setup in the vehicles and the high price of raw material are some major factors that are anticipated to hamper the growth of the automotive air suspension market during the forecast period.
However, dearth for standardizing independent suspension system and huge maintenance are also the major factors which will further challenge the automotive air suspension market.
This automotive air suspension market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive air suspension market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Automotive Air Suspension Market
The outbreak of COVID-19 has severely affected the overall supply chain of the automotive sector The halt in logistics formed and production due to this pandemic has hit the supply of raw material in automotive industry. This sector suspended its day to day functioning due to widespread of COVID-19. This pandemic situation influenced the growth of the automotive air suspension market in many countries, as the development of this market is undeviating connected to the production of carriers. However, the demand for air suspension systems is awaited to increase.
Global Automotive Air Suspension Market Scope
The automotive air suspension market is segmented on the basis of technology, control type, vehicle type, component type and sales channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technology
- Electronically Controlled Air Suspension
- Manually Controlled Air Suspension
Control Type
- Electronically Controlled Air Suspension
- Non-Electronically Controlled Air Suspension
Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Buses and Coaches
Component Type
- Air Spring
- Shock Absorber
- Compressor
- Electronic Control Module
- Air Reservoir
- Height Sensors
- Others
Sales Channel
- OEMs
- Aftermarket
Automotive Air Suspension Market Regional Analysis/Insights
The automotive air suspension market is analysed and market size insights and trends are provided by country, technology, control type, vehicle type, component type and sales channel as referenced above.
The countries covered in the automotive air suspension market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.
Asia-Pacific dominates the automotive air suspension market during the forecast period of 2022-2029. This is due to increase the demand of air suspension system in commercial vehicles, rise in the disposable income and increasing automotive industry in this region.
North America is expected to be the fastest developing countries due to rising demand for premium cars and growing demand for premium cars in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Air Suspension Market Share Analysis
The automotive air suspension market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive air suspension market.
Some of the major players operating in the automotive air suspension market are:
- Continental AG (Germany)
- Hitachi, Ltd. (Japan)
- ThyssenKrupp AG (Germany)
- Wabco Holdings Inc. (France)
- Dunlop Systems And Components Ltd. (U.K.)
- Accuair Suspension (U.S.)
- Firestone Industrial Products Company, LLC (U.S.)
- Hendrickson USA, L.L.C. (U.S.)
- BWI Group (China)
- Mando Corp. (South Korea)
- ZF Friedrichshafen AG (Germany)
- Parker Hannifin Corp (U.S.)
- AB Volvo (Sweden)
- Air Lift Company (U.S.)
- VB-Airsuspension (Netherlands)
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