Air Suspension Market by Component, Vehicle Type, Technology, Aftermarket, & Region

The Air Suspension Market is projected to grow at a CAGR of 6.76% to reach a market size of $8.4 billion by 2025.

Shifting inclination towards comfort and convenience, growing demand for heavy-duty vehicles such as semi-trailers, increasing use of luxury buses for long-distance travelling, and rising demand for enhanced stability & manoeuvrability in vehicles are the key factors driving the demand for air suspension.

Some of the 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).

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The electronically-controlled system is estimated to be the fastest-growing segment in the air suspension market

Electronically-controlled air suspension (ECAS) is estimated to be the fastest-growing market during the forecast period. ECAS provides benefits such as raising and lowering the vehicle height, control options, and reduced air consumption. Hence, most luxury passenger cars and sport-utility vehicles (SUVs) offer ECAS technology. Further, rising intra and inter-city transport has fueled the demand for multi-axle buses that are compulsorily installed with air suspension across all axles in the global market. Developed regions such as Europe and North America have a high adoption rate of air suspension in buses. Although the adoption rate of ECAS is lower in heavy trucks, it is anticipated to increase in the future. Increasing demand for premium vehicles, rising preferences toward lift axles in heavy trucks, and improved comfort & ride quality in the city and multi-axle buses are expected to boost the growth of the electronically-controlled air suspension market.

Air below is estimated to be the largest air suspension aftermarket, by component, during the forecast period

The air below holds the maximum share in the air suspension aftermarket. Europe and North America are the leading markets with a high installation rate of air suspension in the existing heavy vehicles segment. Also, proposed smart city projects, rising infrastructural spending, and expansion of global companies are expected to boost the demand for trucks and buses in the Asia Oceania region. This is expected to boost the air suspension components aftermarket in this region.

Europe is expected to account for the largest market share during the forecast period

Europe is projected to lead the air suspension market during the forecast period due to its higher adoption rate of air suspension across all vehicle types compared with other regions such as North America and Asia Oceania. In the light-duty vehicle segment, OEMs such as BMW, Mercedes-Benz, Porsche, Audi, and Land Rover offer ECAS technology in select models to enhance benefits such as height-raising and lowering options. In the commercial vehicles segment, air suspension has a higher installation rate in semi-trailers and multi-axle buses. Also, technology-driven suppliers such as Continental, ThyssenKrupp, and SAF-Holland are constantly making efforts to introduce the latest technology in the field of air suspension for light and heavy-duty vehicles. All these factors have resulted in the growth of this market in the region.

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This research report categorizes the air suspension market based on component, technology, and vehicle type; cabin air suspension, by vehicle type; and aftermarket, by component and region.

Air Suspension Market, By Component:

Air springs
Shock absorber
Compressor
Electronic control module
Air reservoir
Height sensors
Solenoid valves
Pressure sensors

Air Suspension Market, By Technology:

Electronically Controlled
Non-electronically Controlled

Air Suspension Market, By Vehicle Type:

Light-Duty Vehicle (LDV)
Trucks
Buses

Cabin Air Suspension Market, By Vehicle Type:

Rigid Trucks
Semi-Trailers

Air Suspension Aftermarket, By Component:

Air Bellows
Shock Absorber Bushes

Air Suspension Market, By Region:

Asia Oceania
Europe
North America
RoW

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