Air Springs Market – Outlook On Emerging Application, Revolutionary Trends & Potential Growth Strategies 2030

The global air springs market will generate incremental revenue opportunities at an impressive 5% CAGR during the forecast period. An evolving world economy and developments in road infrastructure have ramped up production and sales of commercial vehicles across the globe, which is one of the leading growth engines for air springs components. Suspension of non-essential import/export to contain the spread of COVID-19 has limited the growth potential of the market during the first quarter of 2020. Market players are targeting demand from low impact countries such as Singapore, Indonesia and Australia.

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Global Air Springs Market – Scope of the Report

The following report provides forecast and analysis of the global air springs market along with the historical data of 2015, estimated data for 2020 and forecast data up to 2030 in terms of value (US$ Mn) and volume (‘000 Units), according to a Fact.MR study. The research propounds critical trends that are currently influencing growth within the global air springs market along with several macro-economic indicators. This newly published and insightful report on air springs sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global air springs market.

The report also comprises the study of current trends for end users and opportunities for air springs. It also contains a value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews. The dashboard included in the report provides a detailed comparison of air springs manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the air springs market provided in the report adds to the credibility of this exhaustive research study.

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Key Takeaways of Air Springs Market

3300-7300 force segment holds the majority share in global market and is anticipated to expand at a CAGR of 4% during the long-term forecast period
Rolling lobes shall expand 1.7x by 2030, and are expected to witness a healthy CAGR, owing to high deployment in commercial vehicles
Buses are set to hold the dominating share in the global air springs market. Proliferation of public transport in developing countries escalates the production of public buses which has fueled the demand for air springs
Owing to early adoption of air springs in developed regions, North America holds a share of more than 20% of the total market value
High growth can be seen in economies of Asia Pacific (East Asia, South Asia, and Oceania) attributed to heavy investments in electric vehicles. This boom shall generate increased demand for air springs. These economies collectively account for 35% share of the total market value.
Middle East & Africa offers the most lucrative growth prospects, with a growth rate of over 7% during the forecast period. Developing automotive infrastructure with high penetration of automotive manufacturing units are major indicators of growth potential.

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Global Air Springs Market: Research Methodology

A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research. The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the air springs market.

A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the air springs market, which includes global GDP growth rate and other sector growth rate such as automotive, industrial and others. This report serves as an authentic resource of intelligence on the Air springs market, enabling the readers to take fact-based decisions on the future direction of their businesses

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