Air Suspension Systems Market Share 2022: Global Trends, Key Players, Industry Analysis and Forecast to 2028

The global air suspension systems market is anticipated to grow at a CAGR of 6.5% during the forecast period (2022-2028).

Air suspension is a kind of vehicle suspension system based on a pneumatic mechanism. Air suspension consists of various components including the compressor, spring, electronic sensor, and shock absorber. In comparison to the conventional suspensions, the car's air suspension provides better ride quality, quality, and comfort. The market growth is majorly attributable to the growing demand for air suspension in automobiles throughout the globe. Adding to this, the increasing demand for longevity, improved vibration isolation, as well as decreased driver fatigue are also likely to be the accelerators of the global market growth.

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Further, these systems have increasingly being preferred in various categories of automotive owing to their better cushioning, enhanced performance, and relatively elevated safety features. Another major factor anticipated to augment the growth of the global air suspension systems market include the growing penetration of air suspension into passenger cars and commercial vehicles. In addition to this, the increased luxury vehicle sales over the past decade have also substantially provided a traction to the market growth.

Some key players operating in the market include Continental AG, ThyssenKrupp AG, and Hitachi Ltd., among others. The market players are eyeing on strengthening their position in the market by adopting various strategies as mergers and acquisitions, partnerships, new product launch and collaborations, to stay competitive in the market. For instance, a commercial vehicle parts manufacturer named Stemco, finished the construction of a 20,000 square meter facility for testing and developing product, design and technology advances.

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Vehicle Type
o By Sales Channel

• Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape: Continental AG, ThyssenKrupp AG, and Hitachi Ltd., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Air Suspension Systems Market Report by Segment

By Vehicle Type
• Buses and Coaches
• Trailers
• Heavy Trucks

By Sales Channel
• OEM
• Aftermarket

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This release was published on openPR.