Air Ride Suspension Systems Market Portrays High-End Demand across Major Geographies during 2018-2028
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Air ride suspension is also used as the suspension upgrade in pick-up truck that haul or tow heavy loads. Air ride suspension systems are used as load support enhancement owing to the benefit that air springs can be deflated when not hauling or towing, thus, maintaining ride quality.
Air Ride Suspension Systems Market- Competitive Landscape
Hendrickson is planning to build trailer suspension plant in Northeastern Ohio. The 35 acre plot will be the home to the company’s sixth trailer suspension plant.
Fox Factory Holding Corp. has signed a definitive agreement to substantially acquire assets of Air Ride Technologies Inc. dba Ridetech. FOX expects Ridetech to contribute to the sales of US$ 6 million to US$ 8 million after eliminating inter-company sales.
Founded in 1871, Continental is located in Germany. The company specializes in interior electronics, brake systems, chassis and powertrain components, automotive safety, tires, tachographs and other parts of automotive and transportation sector. The company is the 4th largest manufacturer of tires. It produces tires for automobiles, bicycles, and motorcycles worldwide.
Established in 2007, Dunlop Systems and Components is located in England. The company manufactures air suspension components and advanced electronic control system. The company also supplies air springs and air suspension systems for trucks, buses, and car manufacturers. The company provides systems solutions for suspension load management and associated areas.
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Founded in 1869, WABCO is located in Belgium. The company provides suspension and transmission, electronic braking, and stability systems for heavy duty commercial vehicles. It also provides car air pumps and suspension and advanced driver assistance systems for trucks, trailers, and buses. The company was recently acquired for $7 billion by ZF Friedrichshafen.
Established in 2009, BWI Group is located in China. It is the supplier of suspension and brake systems. The company also has manufacturing facilities in Mexico, the UK, Czech, and Poland. The company also provides anti-lock braking system, real-time damping, aluminum knuckles, and integrated chassis.
Air Ride Suspension Systems Market Dynamics
Increasing Demand for Luxury and Premium Vehicles Influencing Air Ride Suspension Systems Market Growth
New product launches, expanding dealer networks, and increasing spending by consumers on luxury and premium goods are driving the growth of luxury and premium vehicle sales worldwide. Surging sales of luxury cars are driving demand for air ride suspension systems included as standard on high-end cars such as Mercedes-Benz, BMW, Audi, Range Rover, and other premium vehicles.
One of the biggest reason for wide application of air ride suspension systems in luxury cars is the smooth ride provided, enhancing the riding experience. Manufacturers are also using advanced technologies to make air ride suspension systems different on various levels, including precise handling for the vehicles bearing loads. Apart from the load bearing vehicles, luxury and premium car manufacturers are also providing air ride suspension systems attached in car or as an option for customers to decide if it’s worth the added cost.
Manufacturers Designing Lightweight Air Ride Suspension Systems
Vehicle manufacturers are focusing on lightweight vehicles in order to meet the growing demand for fuel efficiency and to comply with emission regulations worldwide. Suspension companies are also focusing on developing lightweight air ride suspension systems with improved performance.
Moreover, increasing investment in research and development activities to develop new materials for designing lightweight vehicles is also leading to the growth of components in vehicles with reduced weight. Hence, companies are manufacturing lightweight air ride suspension systems using materials such as aluminum and plastic, thereby, eliminating the need for welding, achieving improved aerodynamics, and reducing system weight. However, research on new materials to design lightweight components for automotive industry is also ongoing.
Meanwhile, companies manufacturing suspensions for trailer, trucks, buses, and other heavy-duty vehicles are also increasingly focusing on providing new air ride suspension systems with optimal balance of value and lightweight.
High Cost of Air Ride Suspension Systems Continues to Remain Longstanding Challenge
Air ride suspension systems are expensive as compared to inexpensive and simple components in majority of the vehicles. Owing to the high cost, air ride suspension systems are witnessing huge demand only from heavy-duty off-road vehicles and high-end luxury and premium cars. Land Rover, Buick, Porsche, Audi are among the few automobile companies including air ride suspension systems in their vehicles.
Moreover, adding an air ride suspension system as an aftermarket option is also time-consuming and expensive for customers. The air ride suspension systems are vulnerable to air, leaks, and can go flat, hence, the cost of buying and maintaining air ride suspension system is higher as compared to the traditional suspension system. Meanwhile, it also takes longer time to install air ride suspension system owing to the complex design and networks.
The research report presents a comprehensive assessment of the air ride suspension systems market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to air ride suspension systems market segments such as geographies, application and industry.
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