Press release
Air Spring Market, Industry Growth 2021, Trends, Opportunities, Forecast to 2027
Air spring market is anticipated to exhibit considerable growth during the forecast period. Air springs are load-bearing rubber parts made of hollow rubber bellow sealed on top and bottom metal plates. Air spring allows for improved vibration isolation, increased longevity, and decreased driver fatigue. Due to its enhanced performance, better cushioning and relatively high safety features air suspension systems have increasingly being preferred in various categories of automotive. Increasing penetration of air suspension into passenger cars and commercial vehicles is anticipated to be a major factor supplementing the demand for air spring industry across the globe. Luxury vehicle sales have recorded an increase in developing and developed nations over the past decade.(Get 15% Discount on Buying this Report)
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The preference for luxury vehicles is not only limited to passenger cars, but the market for luxury buses and performance trucks have also been significant. Most OEMs are deployed these classes with a new air suspension system and thus turning out to be air spring customers. In an attempt to expand its aftermarket reach and cover a range of commercial vehicle operations, Meritor Inc. had launched a new line of air springs, including double-convoluted, cab-mount, and coil spring prices. The new technology has been evolving since 2011, according to the agency. Neopos had developed a new Formula-developed air suspension technology that offers higher linear compression and returns.
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Europe is anticipated to have significant market size geographically owing to the presence of major key players in the market such as Continental AG, ThyssenKrupp AG, and others. The adoption rate of air springs is higher in this region owing to importance in passenger cars such as BMW, Mercedes-Benz, Porsche, Audi, and Land Rover. Moreover, the installation of air spring systems is higher in semi-trailers and multi-axle buses. North America is expected to have significant growth in the air spring market for the craving demand for luxury vehicles. Asia-Pacific is anticipated to witness the significant growth owing to the increasing production of passenger cars and commercial vehicles in the region. The air spring market includes a few major companies such as Accuair Suspension, Firestone Industrial LLC, Hendrickson LLC, Air Lift Co., Continental AG, ITT Inc., WABCO Holdings Inc., and STEMCO Products, Inc.
Global Air Spring Market- Segmentation
By Type
Convoluted Bellows
Rolling Lobe Bellows
Sleeve Bellows
By Technology
Non-Electronically Operated
Electronically Operated
By Application
Passenger Car
Light Commercial Vehicle (LCV)
Heavy Commercial Vehicle (HCV)
Others
Global Air Spring Market- Regions
North America
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Latin America
Middle East & Africa
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Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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