Air Suspension Market Worldwide Trends, Statistics, Size, Share, Segment & Regional Analysis by 2028 With Key Players - Continental AG, ThyssenKrupp AG

Air Suspension Market is estimated to reach USD XX billion by 2028

Growing demand for comfort in luxury vehicles during the forecast period is expected to drive growth in the air suspension industry. This has resulted in some of the key advances that companies operating on the market have in consolidating their market positions and searching for further opportunities for niches.

Air suspension of vehicles helps to enhance the vehicle's driving comfort. In addition, air suspension also helps to reduce fuel consumption efficiently and increase the safety of the vehicles.

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With the assistance of air springs, the air suspension supports vehicles on axles. This provides improved comfort, load capacity through a lowering of the suspension, and reduces unnecessary noise and vibration. It is most commonly used in long-distance buses such as VOLVO, SCANIA, etc. Earlier, switches manually operated the air suspension but today they are electronically regulated.

Strategic Factors Impacting Market Growth:

o Increase in demand for long-distance buses

o Growing demand for comfort in luxury vehicles

Segmentation for better understanding of this market and its growth prospects:

Air suspension market is segmented on basis of, by vehicle type (light-duty vehicles, truck, bus), by component (air spring, air reservoir, height sensor, shock absorber, air compressor, and electronic control module), by technology (electronically controlled air suspension, non-electronically controlled air suspension), and by region.

During the forecast period, electronically controlled air suspension systems are expected to be the largest segment by technology. This is due to its advantages such as greater stability, maximum road grip, heavy load carrying capacity, additional driving comfort, and increased safety level.

Light-duty vehicles are expected to be the biggest and fastest-growing air suspension market, by type of vehicle. Increasing awareness of the advantages of air suspension and changing consumer preferences to comfort and luxury have prompted the demand for advanced air suspension in light-duty vehicles.

Regional Analysis:

By region, North America, Western Europe, and the Asia Pacific are estimated to dominate the air suspension market in terms of market demand.

Europe is expected to lead the air suspension market during the forecast period due to its higher air suspension adoption rate across all types of vehicles compared to other regions such as North America and the Asia Pacific.

North America and Western Europe were major markets for the automotive sector with many multinational suppliers based in this region. The automotive sector in those regions has been competitive in terms of technological advances and product improvements. The need for lightweight fabrics, lower emissions and renewable fuels were some of the key factors driving the market in this region. The economy, too, has experienced a gradual recovery from slowdowns in recent decades. Some of these factors are expected to influence the dynamics of the air suspension market in North America and Western Europe over the forecast period. The United States, Germany, France, Italy, the United Kingdom and Spain were some of the major economies for the region's air suspension market.

The Asia Pacific is estimated to be the fastest-growing region for the air suspension market during the forecast period. With major investments by global companies in the region, this country has been one of the lucrative markets for the automotive sector in the last few decades. China, Japan, India, and South Korea were some of the major countries for the Asia Pacific air suspension industry.

The Middle East promises a strong market potential with the growth of the automotive sector in the region. Countries including UAE, Saudi Arabia, Qatar, and Iran have been diversifying the industrial sector to boost the economy in the past few decades. Other regions including Eastern Europe, South America, and Africa are estimated to emerging markets with growing demand during the forecast period.

Major companies playing a crucial role in the growth of this market are:
Continental AG, ThyssenKrupp AG, Hendrickson International Corporation, Mando Corporation, SAF-Holland, and Wabco Holdings Inc

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Market Segmentation:

By Vehicle Type:
o Light-Duty Vehicles
o Truck
o Bus

By Component:
o Air Spring
o Air Reservoir
o Height Sensor
o Shock Absorber
o Air Compressor
o Electronic Control Module

By Technology:
o Electronically Controlled Air Suspension
o Non-Electronically Controlled Air suspension

By Region:

North America
o By Country (US, Canada, Mexico)
o By Vehicle Type
o By Component
o By Technology

Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Vehicle Type
o By Component
o By Technology

Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Vehicle Type
o By Component
o By Technology

Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Vehicle Type
o By Component
o By Technology

Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Vehicle Type
o By Component
o By Technology

Rest of the World
o By Region (South America, Africa)
o By Vehicle Type
o By Component
o By Technology

Contact:
Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: +91 - 9850603687 / 7972869557
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com

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This release was published on openPR.