Air Suspension Market to reach USD 24.06 Bn by 2029, emerging at a CAGR of 4.4 percent and forecast 2023-2029

Air Suspension Market Report Scope and Research Methodology

The Air Suspension Market Report offers a comprehensive analysis of this dynamic sector, encompassing a wide range of key aspects and variables. The report provides a detailed understanding of the market's scope, addressing the definition of air suspension and delving into various critical factors that influence this market. It also explores the segmentation of the market by vehicle type and application, providing a holistic view of the industry.

Our research methodology involves a rigorous and systematic approach to gather, analyze, and present data. It encompasses both primary and secondary research methods, including expert interviews, surveys, and data from various sources. This thorough research methodology ensures the accuracy and reliability of the information presented in the report. Data triangulation and validation processes are integral to our approach, resulting in a comprehensive and trustworthy assessment of the Air Suspension Market. This report serves as a valuable resource for businesses and stakeholders, facilitating well-informed decision-making processes and strategic planning in this dynamic market.

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What are Air Suspension Market Dynamics:

Cars with air suspension are far more comfortable and easy to operate. Most imported luxury vehicles costing more than RMB600,000, including Mercedes-Benz, BMW, Audi, Volvo, Land Rover, and Porsche, are equipped with it. For branding purposes, established automakers like Geely, FAW-Hongqi, and Great Wall Motor as well as up-and-coming manufacturers like NIO, Xpeng, and Li Auto add air suspension on their high-end smart vehicles. They either collaborate with air suspension vendors to realise air suspension penetration below or they focus on autonomous full-stack development. It's possible that Chinese automakers will prefer to create their own air suspension control systems and algorithms (which are eventually integrated into chassis domain controllers). Then divide the hardware assembly into components like sensors, air supply units, air springs, and other parts, and they buy them individually.

The ultimate integration is then handled by OEMs. For instance, Shanghai Baolong, Zhongding Sealing Parts, Tuopu Group, and KH Automotive Technologies among others have gradually achieved mass manufacturing and delivery of air suspension components. This method offers potential to domestic component suppliers to create breakthroughs at a single location. Currently, a single vehicle's air suspension costs between 11,000 and 16,000 RMB. The average cost of passenger car air suspension manufactured in China is anticipated to decrease to less than RMB8,000 with the localization of the supply chain and the rise in manufacturing. Air suspension is becoming an optional or even standard feature on models from emerging automakers that cost RMB600,000 to RMB300,000 due to localization and consumption upgrade.Since the introduction of the NIO ES8 and ES6, air suspension has been relegated to vehicles costing less than RMB400,000.

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Air Suspension Market Regional Insights:

The Air Suspension Market exhibits diverse dynamics across different regions, with each geography contributing to the industry in its unique way. The Asia-Pacific region dominates the market landscape, accounting for a substantial 48% share in 2021. This region is poised for significant growth, primarily driven by the surge in commercial vehicle production as the pandemic's impact on the automotive sector gradually wanes. The expected expansion in this region's automotive industry, with an estimated growth rate of approximately 3.5% over the next five years, is further propelled by the increasing purchasing power of the local population. Notably, the demand for luxury cars and high-end SUVs is on the rise, with consumers in this segment seeking superior ride quality. Consequently, original equipment manufacturers (OEMs) have increasingly incorporated air suspension systems into their designs to cater to this growing demand. China, a key player in the Asia-Pacific market, leads the region's adoption of air suspension in various vehicle types, further driving the market.

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What is Air Suspension Market Segmentation:

by Vehicle Type
Light Duty Vehicles
Trucks
Buses

by Application
Electronically Controlled
Non-Electronically Controlled

by OE Type
Air Springs,
Shock Absorbers,
Compressors,
Electronic Control Units,
Air Reservoirs,
Height Sensors,
Solenoid Valves,
Pressure Sensors

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Who are Air Suspension Market Key Players:

1. Continental AG (Germany)
2. ThyssenKrupp AG (Germany)
3. ZF Friedrichshafen AG (Germany)
4. SAF Holland (Germany)
5. Vibracoustic (Germany)
6. Dunlop Suspension Systems Ltd (UK)
7. S.J. Sportscars Limited (UK)
8. AB Volvo (Sweden)
9. VB-Airsuspension (Netherlands)
10. AccuAir Suspension (US)
11. Firestone Industrial Products Company, LLC (US)
12. Hendrickson USA, L.L.C (US)
13. Parker Hannifin Corporation (US)
14. Air Lift Company (US)
15. Meritor, Inc. (US)
16. Universal Air (US)
17. Liftmatic (US)
18. Arnott LLC (US)
19. Jamna Auto Industiries Ltd. (India)
20. BWI Group (China)
21. Mando Corporation (South Korea)
22. Hitachi, Ltd. (Japan)

Table of content for the Air Suspension Market includes:

1. Global Air Suspension Market: Research Methodology

2. Global Air Suspension Market: Executive Summary

• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry

3. Global Air Suspension Market: Competitive Analysis

• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact

4 . Company Profile: Key players

• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments

Key Offerings:

• Past Market Size and Competitive Landscape (2022 to 2029)
• Past Pricing and price curve by region (2022 to 2029)
• Market Size, Share, Size and Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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