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The automotive air suspension system market to grow at a CAGR of 7.6% between 2016-2022
Automotive Air Suspension System Market
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In terms of technology, the automotive air suspension system market has been segmented into manual and electronic. Manual air suspension was the larger segment in 2015, in terms of both volume and value.
North America is expected to be the second largest automotive air suspension system industry during 2016-2022, owing to its increasing customer base and high disposable income of people in the region. This has resulted in increased manufacturing activities by local automotive OEMs in the region, and spurt in growth of the automotive air suspension system market.
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The demand for safe and comfortable rapid transit solutions is increasing due to increasing urban population and economic growth of developing nations. Different government and non-government organizations are taking initiatives to improve customer experience while using transit systems. Luxury buses provide safe and comfortable journey.
The companies in the automotive air suspension system market are investing in the automotive components business all over the world, especially in the untapped market areas. For instance, in January 2017, ThyssenKrupp AG announced plans to invest further in automotive components business in China.
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Some of the major players operating in the automotive air suspension system market include Thyssenkrupp AG, Hendrickson International Corporation, Continental AG, WABCO Holdings Inc., Hitachi Ltd., BWI Group, Firestone Industrial Products, Mando Corporation, Accuair Suspension, and Dunlop Systems and Components.
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