The present level of traffic on the roads has prompted the need for automobiles that are both safe and pleasant. Manufacturers in the air suspension business are stepping up their efforts to deliver systems with intuitive designs, cost-effectiveness, and error-free operation to increase driver safety and comfort. Vehicle OEMs and Tier 1 suppliers are constantly developing cutting-edge air suspension systems. An air suspension system uses an electric pump or compressor to pressurize flexible bellows that are typically made out of a textile-reinforced type of rubber. Moreover, air suspension is typically employed to provide a smooth and consistent driving quality. Similarly, in heavier vehicle applications, such as trucks, tractor-trailers, and buses, air suspension takes the place of a traditional steel spring suspension. Thus, rising global commercial vehicle sales and increasing penetration of advanced comfort components and systems in premium and luxury vehicles are expected to drive the air suspension market at a significant CAGR during the forecast period.

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Some of the major players operating in the market include Continental AG, ThyssenKrupp AG, ZF Friedrichshafen AG, STEMCO Products Inc., Dunlop Systems and Components Ltd., Hendrickson International, Mando Corporation, BWI Group, SAF-Holland, and Accuair Suspension.

According to UnivDatos Market Insights (UMI)’ research report “Air Suspension Market”, the market is expected to witness a CAGR growth of around 7% during the forecast period 2021-2027F. Global Automotive Suspension Spring Market is experiencing significant growth due to the increasing demand for commercial vehicles due to rapid industrial development along with higher demand for advanced suspension systems in electric vehicles.

Based on Technology, the market is categorized into electronically controlled and non-electronically controlled air suspensions. The electronically controlled is expected to witness higher growth during the forecasted period. This is mainly due to the rising adoption of electronically controlled air suspension in commercial vehicles. Electronic air suspension offers better aerodynamics and ground clearance, higher stability, heavy load carrying capacity, and enhanced safety level, among other advantages.

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Based on Sales Channel, the market is bifurcated into OEM and Aftermarket. The OEM is expected to grow at a significant CAGR during the forecasted period. Due to the rapid development of new technologies by OEMs in the air suspension market is expected to grow along with the rising penetration of autonomous and electric vehicles. For instance, Tesla Inc. first introduced Adaptive Air Suspension in its Model S in 2014, and that system became standard for all Model S trims from 2017 to mid-2019. As per the company, Adaptive Air Suspension offers superior ride quality and allows the driver to choose a softer or firmer ride based on their preference. When carrying loads, the system also maintains a level height between the front and rear.

Based on Vehicle Type, the market is divided into passenger and commercial vehicles. The passenger car segment is estimated to be the largest and the fastest-growing market for air suspension because of the higher production of passenger cars. Further, increasing awareness about the benefits of air suspension and shifting consumer preferences towards comfort and luxury have encouraged premium vehicle manufacturers to deploy advanced suspension technology.

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Asia Pacific to Grab Lion’s Share

For a better understanding of the market adoption of Air Suspension, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. APAC region to lead the growth in the global market during the forecast period. Further, improved social status and rising demand for sophisticated and advanced components and systems have fueled premium vehicle sales in the region. All these factors drive the air suspension market in the region.

“Global Air Suspension Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1.      By Technology (Electronic and Non-Electronic0

2.      By Sales Channel (OEM and Aftermarket)

3.      By Vehicle Type (Passenger and Commercial)

4.      By Region (North America, Europe, Asia-Pacific, and Rest of World)

5.      By Company (Continental AG, ThyssenKrupp AG, ZF Friedrichshafen AG, STEMCO Products Inc., Dunlop Systems and Components Ltd., Hendrickson International, Mando Corporation, BWI Group, SAF-Holland, and Accuair Suspension)

Key questions answered in the study:

1.      What are the current and future trends of the global air suspension industry?

2.      How the industry has been evolving in terms of technology and vehicle type category?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global air suspension industry?

5.    What is the customer orientation, purchase behavior, and expectations from the global air suspension suppliers across various countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 AIR SUSPENSION MARKET COVID-19 IMPACT

6 AIR SUSPENSION MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY TECHNOLOGY

8 MARKET INSIGHTS BY SALES CHANNEL

9 MARKET INSIGHTS BY VEHICLE TYPE

10 MARKET INSIGHTS BY REGION

11 AIR SUSPENSION MARKET DYNAMICS

12 AIR SUSPENSION MARKET OPPORTUNITIES

13 AIR SUSPENSION MARKET TRENDS

14 DEMAND AND SUPPLY SIDE ANALYSIS

15 VALUE CHAIN ANALYSIS

16 COMPETITIVE SCENARIO

17 COMPANY PROFILED

18 DISCLAIMER