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Automotive Air Suspension System Market 2018: Global Industry Size, Share, Growth, And Companies Forecast To 2023
Get Sample Copy of Global Automotive Air Suspension System Market Report at https://www.marketresearchfuture.com/sample_request/5293
Key Companies analyzed in report are: Continental Ag (Germany), Hitachi, Ltd. (Japan), ThyssenKrupp Ag (Germany), Wabco Holdings Inc. (Belgium), Dunlop Systems And Components Ltd. (U.K.), Accuair Suspension (California), Firestone Industrial Products (U.S.), Hendrickson International Corporation (U.S.), Beijing West Industries Co., Ltd. (China), Mando Corporation (South Korea), ZF Friedrichshafen (Germany), LORD Corporation (U.S.), Volvo (Sweden), Air Lift Company (Michigan), and VB-Airsuspension (Netherlands).
The major factors responsible for the growth of automotive air suspension system market are inclination of consumers towards latest technology, and increase in the disposable income. Growing demand for luxury cars, and increase in the production of both, passenger car and commercial vehicles, also add to the market growth. The preference of latest technology, among consumers, is expected to drive the growth of automotive air suspension system market during the forecast period. Consumers are preferring to install latest technology products in their vehicle, to have a quality ride.
The adoption of air suspension system in the vehicles, will enable the passengers to have a quality and comfort ride, which will increase then demand for the system. People are moving towards buying premium cars to have all the safety features and quality ride. The increase in demand for the cabin comfort, better control and stability of the vehicle will result in the growth of the automotive air suspension system market in future. The increase in purchasing power of the consumer will enable the major automotive manufacturer to adopt latest technologies in the premium cars. The increase purchasing power will result in the growth of the market in future.
Automotive air suspension system market is segmented based on technology, components, and vehicle type. On the basis of technology, the market has been segmented as manual air suspension, and electronic air suspension. The manual air suspension segment is expected to hold the largest share in the market due to increased use of manual air suspension in the commercial vehicles. The increased use of manual air suspension, will result in the growth of the segment in the future. However electronic air suspension system is expected to grow at the highest CAGR because it provides variable-height suspension for on and off road application.
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The height is controlled automatically, depending on the speed of the vehicles. On the basis of components, the market is segmented as shock absorber, air spring, air compressor, air reservoir, height sensor, electric control unit, others. Shock absorber segment is expected to dominate the automatic air suspension system market because it improves the ride for the passenger. Their main purpose is to absorb energy so as to provide a comfort ride to the passenger. It is a mechanical device that is used to absorb shock impulses. It converts kinetic energy in another form of energy typically in heat form. The increased use of shock absorbers will result in the growth of the market in the future.
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to dominate the market in future because of increased demand of air suspension system in commercial vehicles in emerging nations such as India, China, and Japan. The increase in the disposable income in Asia Pacific is also expected to drive the market. The increase in the disposable income will result in the growing sale of passenger and commercial vehicles, which will indirectly result in the growth of the market. North America is expected to be the second largest market in future due to increase demand for premium cars. The growing demand for premium cars will result in growing installation of air suspension in the vehicle. The increase in installation of air suspension in the vehicle, will drive the air suspension system market in North America.
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