Attractive Opportunities in Air Suspension Market

The Air Suspension Market is projected to grow at a CAGR of 6.76% during the forecast period, to reach a market size of USD 8.4 billion by 2025.

Increasing demand for ride comfort, demand for extra payload capacity, awareness of driver safety, and increasing government support are expected to fuel 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).

Opportunities:

1. Increasing Demand for Lightweight Air Suspension System
2. Rising Aftermarket Demand for Air Suspension & Related Components

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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 of 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.

Light-duty Vehicle is estimated to be the largest and fastest growing market for air suspension, by vehicle type

The light-duty vehicle segment is the largest and fastest growing market during the review period. Increasing awareness about the benefits of air suspension and shifting consumer preferences towards comfort and luxury have encouraged premium vehicle manufacturers to deploy advanced suspension technology. Further, improved social status and rising demand for sophisticated features have fueled premium vehicle sales in Asia Oceania. All these factors drive the air suspension market in the light-duty vehicle segment.

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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.

By Component:

1. Air springs
2. Shock absorber
3. Compressor
4. Electronic control module
5. Air reservoir
6. Height sensors
7. Solenoid valves
8. Pressure sensors

By Technology:

1. Electronically Controlled
2. Non-electronically Controlled

By Vehicle Type:

1. Light-Duty Vehicle (LDV)
2. Trucks
3. Buses

Cabin Air Suspension Market, By Vehicle Type:

1. Rigid Trucks
2. Semi-Trailers

Aftermarket, By Component:

1. Air Bellows
2. Shock Absorber Bushes

Market, By Region:

1. Asia Oceania
2. Europe
3. North America
4. RoW

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