Global Air Suspension Market, By Vehicle Type (Light Commercial Vehicles (LCV), Trucks, Bus), Component (Air Spring, Tank, Solenoid Valve, Shock Absorber, Air Compressor, Electronic Control Unit (ECU), Height and Pressure Sensor, Air Reservoir), Technology Type (Electronic Controlled, Non-Electronic Controlled), Sales Channel Type (Original Equipment Manufacturers (OEMs), Aftermarket), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights : Global Air Suspension Market
Data Bridge Market Research analyses that the air suspension market would exhibit a CAGR of 7.19% for the forecast period and is expected to reach the USD 12.86 billion by 2029.
An air suspension system is a type of vehicle suspension that uses an electric pump or compressor to pump air through flexible bellows constructed of a textile-reinforced rubber. Unlike hydropneumatic suspension, which has many of the same benefits, air suspension uses compressed air rather than pressurized liquid. The bellows are inflated by the air pressure, which lifts the chassis away from the axle. In heavy vehicle applications, such as buses and trucks, and in some passenger automobiles, air suspension replaces traditional steel springs.
The growing importance of the automobile industry is also propelling the air suspension market forward. Furthermore, the rising demand for premium and luxury vehicles along with the increased commercial vehicle sales are expected to drive market expansion during the projection period. Air suspension market players are putting resources into developing cutting-edge air suspension technology for light and heavy-duty vehicles, which is expected to accelerate the market throughout the forecast period. Globalization is one of the driving forces behind the air suspension market's expansion.
Moreover, growing demand lightweight air suspension system and increased aftermarket demand for air suspension and related components will carve the beneficial opportunities for the growth of air suspension market.
However, high costs of maintenance and development are projected to stymie revenue growth. The rise in the presence of local suppliers will pose a major challenge for the growth of air suspensions market.
This 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 localised 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 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.
Global Air Suspension Market Scope and Market Size
- The air suspension market is segmented on the basis of vehicle type, component, technology type, and sales channel type. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on vehicle type, air suspension market is segmented into light commercial vehicles (LCV), trucks and bus.
- Air suspension market based on component is segmented into air spring, tank, solenoid valve, shock absorber, air compressor, electronic control unit (ECU), height and pressure sensor, and air reservoir.
- Air suspension market based on technology type is segmented into electronic controlled and non-electronic controlled.
- On the basis of sales channel type, air suspension market is segmented into original equipment manufacturers (OEMs) and aftermarket.
Air Suspension Market Country Level Analysis
The global air suspension market is analysed and market size insights and trends are provided by country, vehicle type, component, technology type, and sales channel type as referenced above.
The countries covered in the air suspension market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe dominates the air suspension market due to the rising construction industry and growing government regulations in this region. Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to the increasing technological advancements in automotive sector.
The country section of the air suspension market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Air Suspension Market Share Analysis
The 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 air suspension market.
Some of the major players operating in the air suspension market are Continental AG, thyssenkrupp AG, Hitachi, Ltd., WABCO, Firestone Industrial Products Company, LLC, Hendrickson USA, L.L.C., Mando Corp., BWI Group, SAF-HOLLAND S.A., ACCUAIR SUSPENSION, Vibracoustic, Dunlop Tires, VB-Airsuspension, Link, Universal Air, Liftmatic, STEMCO Products Inc., Arnott LLC, Shanghai Komman Vehicle Component Systems Stock Co., Ltd., Jamna Auto Industiries Ltd., among others.
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