Air Springs for Railways, Trucks and Buses Market Value Projected to Expand by 2027
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The global air springs market is largely influenced by growing concerns towards safety of travelers. Manufacturers need to focus more on providing safe and comfortable travel experience to the passengers. This increased the rate of implementing air suspension in the automotive market. Furthermore, the increase in number of heavy commercial vehicles is having a positive impact on the demand of air springs for trucks. The increasing adoption of air springs in trucks is in turn fuelling the growth of the global air springs market. As preference of individuals towards the use of public transport increases, the demand for railway and buses experiences a significant increase, in indirectly fueling the market for air springs at a global level.
However air springs market’s growth may witness challenges such as growing adoption of hydraulic suspension. Hydraulic suspension uses four dampers with hydraulic fluid. This type of suspension provides the drivers a firmer ride. It is considered to be a long lasting and less maintenance option, which makes it an ideal replacement of air suspensions and air springs.
The regional divisions for air springs for railways, trucks and buses market, includes Asia Pacific as the dominating segment. With a high rate of automotive production, Asia Pacific is expected to lead the market in terms of market size. However, Europe is also considered to be an attractive region for the automotive industry. These attractive regions are considered to witness highest market growth with a higher demand for public transports and HCVs. On a broader basis, America, Europe and Japan is expected to hold over 30% of the total market share.
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Some of the companies that are considered to be the major players in the air springs market are Goodyear, Arnott, Ksport, Firestone, Helix, Air Lift, Torque, Suncore, Viair, RideTech, Hellwig, Legend and Ride-Rite.
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