Global Automotive Air Suspension Market Industry Trends, Estimation & Forecast, 2018 - 2025

The booming automotive sector is expected to drive the automotive air suspension market during the forecast period. The basic function of the air suspension system is to provide a comfortable ride to the driver. Thus, the air suspension is a feature that is primarily prevalent in luxury vehicles and high-end models of vehicles. Increasing technological advancements such as electronically controlled air suspension systems (ECAS) have been gaining traction in recent years. This is further expected to fuel the automotive air suspension market in the near future.

Most key manufacturers of passenger vehicles do not prefer to provide air suspension in vehicles that fall in the medium price range category owing to the high price of the system. This is anticipated to hamper the automotive air suspension market during the forecast period. Air suspension systems also have high demand in the aftermarket as air ride kits, which many street riders deploy for ride adjustability, ride height change, etc. They are also used in track racing for the controllability and tunability. Although air suspension adoption rate is increasing in buses and commercial vehicles, passenger vehicles still do not deploy them because of their high-cost setup and increased expertise required for their service and maintenance. Some of the major issues with air suspensions include leaky bellows and electrical problems (with sensors, solenoids, control unit, relay). Future opportunities that manufacturers of ECAS can look at is the integration of different systems, such as, electronic stability program (ESP), Electronic stability control (ESC), etc. in the form of smart suspension systems.

The air suspension market is projected to reach USD 8.4 billion by 2025 from USD 5.3 billion in 2018, at a CAGR of 6.76% during the forecast period. 

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The global Automotive Air Suspension Market can be segmented based on vehicle, technology, component, and geography. In terms of vehicle type, the automotive air suspension market can be segmented into passenger vehicles and commercial vehicles. The commercial vehicles segment can be further divided into light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and buses & coaches. Commercial vehicles, especially heavy-duty trucks and buses & coaches are subject to shocks to a larger extent compared to passenger vehicles. Air suspension systems help in shock absorption. This is anticipated to provide promising opportunities for the growth of the automotive air suspension market during the forecast period.

Asia Pacific is expected to witness significant growth in the automotive air suspension market during the forecast period owing to the rapid advancement in the automotive sector in the region and the strong manufacturing footprint of major vehicle manufacturers in few countries of Asia Pacific such as China, Japan, and South Korea. Asia Pacific is anticipated to be followed by Europe. This high growth rate of the automotive air suspension market in Europe is mainly due to the focus of Europe-based OEMs toward technological advancements and the rising public preference toward possessing luxury vehicles equipped with air suspension systems in the region in recent years.

Key players in the air suspension market are Continental AG (Germany), ThyssenKrupp AG (Germany), Firestone Industrial Products (US), Hitachi Ltd. (Japan), Wabco Holdings Inc. (Belgium), SAF-Holland (Germany), Hendrickson International Corporation (US), Accuair Suspension (US), and Mando Corporation (South Korea). Continental adopted the strategies of expansion, new product development, collaboration, and mergers & acquisitions to retain its leading position in the air suspension market whereas ThyssenKrupp adopted expansion as a key strategy to sustain its market position.

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