Pune, India, January 20, 2018 /MRFR Press Release/- Market Research Future published a half cooked research report on global automotive air suspension system market. The automotive air suspension system market is expected to grow at the CAGR of around 6% during the period 2022 to 2030.
The automotive air suspension system is used for an aerodynamic property and reduces the imbalance of the vehicle, while travelling on rough terrain roads. The air suspension system is driven by electric air pumps or by compressors. The compressor pumps the air in the bellows, which is usually textile-reinforced rubber. When the air is pumped, the pressure created will raise the chassis from the vehicle axle. This phenomenon will provide a comfort and quality ride to the passenger. Unlike traditional suspension, which is made up of steel springs, air suspension provides better ride and safety. Air suspension system is generally installed in the heavy duty vehicles for providing better control to the vehicle. In the technology driven automotive industry, the air suspension can easily be installed in the vehicle as compared to conventional suspension system. There are various components used in air suspension, which include shock absorber, air spring, air compressor, air reservoir, height sensor, electric control unit, others. Shock absorber is the most widely used due to the ability to withstand jerks when the vehicle is travelling on rough terrain roads. The factors majorly responsible for the growth of automotive air suspension system market during the forecast period are the growth of the automotive industry with emerging technologies, increase in demand for quality ride, and changing preference of the consumer. The market of automotive air suspension system is expected to grow at 7.56% CAGR during the forecast period.
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On the basis of region, the market has been segmented into North America, Asia Pacific, Europe, and Rest of the World. In Asia Pacific region, there is an increase in the production of new vehicles in countries such as India, China, and Japan. In the newer vehicles, the consumer tends to demand for high end technology in the vehicle. This growing demand for the high end technology in the newer vehicles, will result in the growing demand for air suspension systems in vehicles. This will drive the market in Asia Pacific. In Asia Pacific, the increase in the disposable income will result in rising sales of vehicles, which will indirectly result in the growth of the market. In North America, there is an increase in the high end premium cars with increased facility and safety. The growing demand for high end premium cars with installed latest technology, will result in the growth of air suspension system in the vehicles. In Europe, Germany is expected to dominate the air suspension system market during the forecast period due to increase in the production and sales of vehicles. German cars are highly valued due to the innovation, reliability, safety, and design. Presence of several giants has pushed the German market for automotive air suspension system. Presence of well-established automotive players, along with growing demand for passenger vehicles has pushed the market for automotive air suspension system in Germany.
Global Automotive Air Suspension System Market Size, 2022-2030(CAGR)
Scope of the Report
This study provides an overview of the global automotive air suspension system market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Automotive Air Suspension Systems market by its technology, components, and vehicle type, and region
The key players in automotive air suspension system market are Continental Ag (Germany), Hitachi, Ltd. (Japan), ThyssenKrupp Ag (Germany), Wabco Holdings Inc. (Belgium), Dunlop Systems And Components Ltd. (U.K.), Accuair Suspension (California), Firestone Industrial Products (U.S.), Hendrickson International Corporation (U.S.), Beijing West Industries Co., Ltd. (China), Mando Corporation (South Korea), ZF Friedrichshafen (Germany), LORD Corporation (U.S.), Volvo (Sweden), Air Lift Company (Michigan), and VB-Airsuspension (Netherlands).