Press release
Automotive Air Suspension System Market 2019 Analysis - Hendrickson International, Beijing West Industries, Mando, ZF Friedrichshafen, LORD, Volvo, Air Lift Company, and VB-Airsuspension
Automotive Air Suspension System Market
Burgeoning industries and rapid urbanization have given birth to a new lifestyle in which the number of people with disposable income is substantial. This has also proved beneficial for the luxury car segment. Automotive air suspension system has widespread use in luxury cars where people often look for comfort. Along with this, increasing sale of passenger and commercial vehicles are also significantly boosting the market. The sir suspension technology is allowing people to have a much more comfortable drive.
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However, falling economy can be of severe consequences and pull down the market significantly. But other factors such as eco-friendliness can impact its market growth optimistically. Air suspension reduces carbon emission, an advantage that can assist the market in gaining momentum.
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.
Segmentation:
The global automotive air suspension system market can be segmented by technology, components, and vehicle type.
Based on technology, the market can be segmented into manual air suspension and electronic air suspension. Manual air suspension system is currently leading the pack. However, electronic air suspension is expected to register the highest CAGR as it provides variable-height suspension.
Component-wise, the market comprises shock absorber, air spring, air compressor, air reservoir, height sensor, electric control unit, others. By absorbing shock impulses, shock absorbers provide a comfortable ride to the passenger which is why it has the most significant market share.
By vehicle type, the market includes passenger and commercial. Both in terms of value and volume, passenger vehicles are expected to rule the market.
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The Key Players in Automotive Air Suspension System Market Are:
ThyssenKrupp Ag (Germany), Continental Ag (Germany), Volvo (Sweden), Hitachi, Ltd. (Japan), Dunlop Systems And Components Ltd. (U.K.), Accuair Suspension (California), Wabco Holdings Inc. (Belgium), Firestone Industrial Products (U.S.), Hendrickson International Corporation (U.S.), Mando Corporation (South Korea), Beijing West Industries Co., Ltd. (China), LORD Corporation (U.S.), ZF Friedrichshafen (Germany), Air Lift Company (Michigan), VB-Airsuspension (Netherlands), and others.
Regional Analysis:
Region-wise segmentation includes North America, Asia Pacific (APAC), Europe, and the Rest-of-the-World (RoW).
The APAC is expected to dominate the market as Japan, China and India in this region are showing considerable demand for luxury cars which is directly influencing the air suspension market. This is a consequence of a population with rising disposable income.
North America ranks second in the global chart as the region has a considerable demand for premium cars. The region is also technologically well-advanced, and substantial research is being done on this subject in its research and development facilities. Furthermore, government initiatives have also spurred a revamping of the automotive sector which, in turn, is influencing the growth of air suspension market.
Europe, just as North America, is a technologically-advanced region, which is investing a lot in the development of this sector. At the same time, its market for premium cars is expanding which necessitates the consumption of air suspension system.
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LIST OF TABLES
TABLE 1 GLOBAL AUTOMOTIVE AIR SUSPENSION SYSTEM MARKET: BY REGION, 2017-2023
TABLE 2 NORTH AMERICA AUTOMOTIVE AIR SUSPENSION SYSTEM MARKET: BY COUNTRY, 2017-2023
TABLE 3 EUROPE AUTOMOTIVE AIR SUSPENSION SYSTEM MARKET: BY COUNTRY, 2017-2023
TABLE 4 ASIA PACIFIC AUTOMOTIVE AIR SUSPENSION SYSTEM MARKET: BY COUNTRY, 2017-2023
TABLE 5 ROW AUTOMOTIVE AIR SUSPENSION SYSTEM MARKET: BY COUNTRY, 2017-2023
....
LIST OF FIGURES
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
Continued…….
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