Press release
Automotive Air Suspension System Market: 2018 Global Sales, Size, Share, Competitive Analysis, Upcoming Opportunities, And Forecast To 2023
Automotive Air Suspension System Market
Automotive Air Suspension System Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Automotive Air Suspension System Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023
Market Scenario:
Air suspension is powered by electric-driven air pump or through compressor. The compressor pumps the air in the air bag system, also called bellows that is usually made of textile-reinforced rubber. The pressure created by the air, raises the chassis from the vehicle axle to provide comfort ride. Air suspension is generally used in place of conventional suspension, which is made up of steel springs in the passenger and commercial vehicles. Air suspension is generally used in buses, trucks, and others to provide smooth, quality ride to the passengers. Air suspension, in newer vehicles, has better efficiency and easier installation than the conventional suspension systems. In the air suspension system, air bags replace the coil springs to provide better ride quality.
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The major factors responsible for the growth of automotive air suspension system market are inclination of consumers towards latest technology, and increase in the disposable income. Growing demand for luxury cars, and increase in the production of both, passenger car and commercial vehicles, also add to the market growth. The preference of latest technology, among consumers, is expected to drive the growth of automotive air suspension system market during the forecast period. Consumers are preferring to install latest technology products in their vehicle, to have a quality ride. The adoption of air suspension system in the vehicles, will enable the passengers to have a quality and comfort ride, which will increase then demand for the system. People are moving towards buying premium cars to have all the safety features and quality ride. The increase in demand for the cabin comfort, better control and stability of the vehicle will result in the growth of the automotive air suspension system market in future. The increase in purchasing power of the consumer will enable the major automotive manufacturer to adopt latest technologies in the premium cars. The increase purchasing power will result in the growth of the market in future.
Automotive air suspension system market is segmented based on technology, components, and vehicle type. On the basis of technology, the market has been segmented as manual air suspension, and electronic air suspension. The manual air suspension segment is expected to hold the largest share in the market due to increased use of manual air suspension in the commercial vehicles. The increased use of manual air suspension, will result in the growth of the segment in the future. However electronic air suspension system is expected to grow at the highest CAGR because it provides variable-height suspension for on and off road application. The height is controlled automatically, depending on the speed of the vehicles. On the basis of components, the market is segmented as shock absorber, air spring, air compressor, air reservoir, height sensor, electric control unit, others. Shock absorber segment is expected to dominate the automatic air suspension system market because it improves the ride for the passenger. Their main purpose is to absorb energy so as to provide a comfort ride to the passenger. It is a mechanical device that is used to absorb shock impulses. It converts kinetic energy in another form of energy typically in heat form. The increased use of shock absorbers will result in the growth of the market in the future.
Key Players:
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).
The report for Global Automotive Air Suspension System Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Industry/ Innovation/ Related News:
The key strategies followed by most companies within the global automotive air suspension market are that of new product development and contracts.
In April 2015: WABCO extended its strategic cooperation agreement with Sinotruk, a leading Chinese commercial vehicle manufacturer. Sinotruk will adopt a wide range of WABCO’s industry-leading technologies including Advanced Driver Assistance Systems (ADAS), Automated Manual Transmission (AMT), Electronic Braking Systems (EBS), and Electronically Controlled Air Suspension Systems (ECAS).
In Sept 2016: Hendrickson displayed a mix of new technologies that meet the diverse requirements of truck, bus and trailer manufacturers, fleets and operators across the world. The company introduced advanced suspension system technologies that can help improve durability, enhance fuel economy and increase payload.
Automotive Air Suspension Market – Segmentation
The global automotive air suspension market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Technology:Manual Air Suspension and Electronic Air Suspension
Segmentation by Component:Shock Absorber, Air Spring, Air Compressor, Air Reservoir, Height Sensor, Electric Control Unit, Others
Segmentation by Vehicle Type:Passenger Cars and Commercial Vehicles
Segmentation by Regions:North America, Europe, APAC and Rest of the World
Automotive Air Suspension Market: Regional Analysis
Automotive air suspension market has been catered across different geographical regions namely North America, Europe, Asia Pacific, Middle-East and Africa. The Asia Pacific region is expected to experience the highest growth in automotive air suspension market. The major factor driving the growth of the market in the Asia Pacific region is the growing vehicle population and increased demand for comfort and safety. The region comprises of emerging economies such as China, Japan, India and South Korea which are characterized by growing demand for luxury and convenience and rising vehicle production. On the other hand, Germany is expected to dominate the European market with the presence of several giants which has resulted in the increased production of vehicles. In addition, the well-established automotive market in the region coupled with demand for high end cars is expected to boost the market growth in the forecast period.
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Table of Content
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
3 MARKET LANDSCAPE
4 MARKET DYNAMICS
5 GLOBAL AUTOMOTIVE AIR SUSPENSION SYSTEM MARKET, BY TECHNOLOGY
6 GLOBAL AUTOMOTIVE AIR SUSPENSION SYSTEM MARKET, BY COMPONENT
7 GLOBAL AUTOMOTIVE AIR SUSPENSION SYSTEM MARKET, BY VEHICLE TYPE
8 GLOBAL AUTOMOTIVE AIR SUSPENSION SYSTEM MARKET, BY REGION
9 COMPETITIVE LANDSCAPE
10 COMPANY PROFILE
Continued…….
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