Air Springs Market SWOT Analysis & Key Business Strategies by Leading Industry Players (BWI Group , Continental AG , Dunloop Systems and Components , Firestone Industrial LLC , Hendrickson LLC)

Air springs form an integral component in luxury cars, SUVs and public transport vehicles such as buses. With a notable rise in net-worth individuals, ultra-luxury vehicles have demonstrated robust sales in the recent past. Adoption of body-on-frame SUVs has surged, with increased sales by OEMs as they venture into SUVs. OEMs equip air springs with novel air suspension systems. Electronically-controlled air suspension systems (ECAS), which have been witnessing robust penetration in luxury cars and commercial vehicles, are also a major demand determinant of air springs. Fact.MR’s research study projects the global air springs market to surpass US$ 4 Bn in revenues by 2026. In terms of volume, over 33,000’000 units of air springs are likely to be sold by the end of the forecast period.

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There is a pervasive realization among air spring manufacturers that if they intend to remain competitive in a fragmentally consolidated global market, they need to secure clients for long term. Either it is innovation they can offer in the existing product lines as Continental Corp and Neopos did, or it has to be through WABCO way. Some of the key notable developments in the air springs marketplace include,

WABCO Holdings Inc., a key participant in the global air springs market, continues to consolidate its position in the electric-powered passenger vehicles segment. The company entered into an agreement with a leading German car maker in 2017, with production expected to start in late 2018.
In a bid to strengthen its presence in the aftermarket and cover a range of commercial vehicle operations, Meritor Inc. launched a new line of air springs, including double convoluted, cab-mount, and reversing (rolling lobe).
Continental Corp. highlighted its Smart Air Springs for heavy duty vehicles, including trucks and trailers in late 2017. The Smart Air Springs showcased by the company are equipped with a range of features to reduce the overall weight. These innovative air spring have been made from polyamide instead of steel or aluminum.
Stemco, a leading manufacturer of components for commercial vehicles, completed the construction of a 20,000-sq-facility to design and test advances in materials, design, and technology. The new facility is being built at Fairlawn Corporate Park in Ohio.
Neopos, a new air suspension technology developed by Formula, offers higher linear compression and return rates of coil springs. According to the company, the new technology has been in development since 2011.
Detailed Assessment on Air Springs Market
Fact.MR has recently published a new report on the global air springs market, which offers accurate forecasts on the market for the period between 2017 and 2026. This report is a definite source of information that imparts intelligence on recent market dynamics, industry trends, potential markets, technology developments & advancements, and product innovation coupled with extensive regional market coverage.

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A comprehensive data analysis on the global air springs market is delivered in the report, in order to help the clients in gaining a competitive edge and attracting potential customers. The report further aids in better understanding of the industry structure, and offers evaluations on the competition intensity attractiveness. Business strategists can leverage the intelligence offered in the report regarding latest opportunities and trends impacting the market expansion to make fact-based decisions for their businesses.

Air Springs Market: Taxonomy and Segmentation Analysis

This report also offers a scrutinized study on the global market for air springs in terms of a segmentation analysis. The market has been divided into five key segments, namely, force, product type, application, sales channel, and region. These segments have been analyzed in detail, engulfing market forecasts and estimates at a country and regional level.

The segmentation analysis offered can be useful for the report readers in understanding probable opportunities and potential markets for the target product – air springs.

Asian Auto Components Industry is Suspending on China and India’s Performance

Asia Pacific’s position in the global auto industry continues to gain ground. The region is home to the world’s two most prolific auto markets – China and India. According to data from the United Nations, India’s population will even with that of China by 2022 – collectively these countries will have 2.8 billion people.

Unsurprisingly, these two countries have emerged as lucrative markets for not just the automotive industry, but a wide gamut, ranging from healthcare to consumer goods. According to data from SIAM (Society of Indian Automobile Manufacturers), the auto industry grew by 14.78% y-o-y in 2018 over 2017. The Chinese Central Government is optimistic that automotive output will reach nearly 30 million units by 2020.

The fledgling auto industry in these two countries has put Asia Pacific on the global auto components map. For long, many Asian countries, including China, India, and ASEAN were scrambled to because of low labor cost; however, in the last decade or so, this has been complemented with adoption of innovative technology. The broader developments in the auto components industry are rubbing off on the air springs market in the region. In terms of both value and volume, the region will remain at pole position during the assessment period.

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This release was published on openPR.