The air suspension in a vehicle is driven by compressor or engine-driven air pump. It is used in case of conventional steel springs in passenger cars and in heavy vehicles such as buses and trucks. It is also used in trains and semi-trailers. The main purpose of air suspension is to provide a smooth and constant ride quality to driver and passengers. This has positively impacted to the Air Suspension Market growth.
The factors that drive the Air Suspension Market include rising demand for higher driving comfort, high demand for safety regulations, and the booming automotive sector. In addition, the factor that restrain the market growth is the minimal offering of air suspension from manufacturers for medium price range category due to high price of the system. Further, the rising demand for premium and luxurious vehicles is expected to contribute to the growth of the market.
A good quality ride provides comfort to the passengers, minimizes damage to cargo, and reduces driver fatigue on long journeys. Suspension is responsible for quality of rides and control on car handling, as cars with firm suspension could result in greater control of body movements and quicker reactions. Ambulances have a special need for a high level of ride quality, to avoid further injury to the already ill passengers. Such factors have boosted the demand for higher driving comfort, which eventually influenced Air Suspension Market.
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The major companies profiled in the report include Hendrickson International Corporation, Wabco Holdings Inc., BWI Group, Continental AG, Mando Corporation, Accuair Suspension, ThyssenKrupp AG, Hitachi Ltd., VDL Groep, and Dunlop Systems and Components. These players have adopted different strategies such as expansion and new product development to gain significant Air Suspension Market share.
The market is segmented on the basis of vehicle type, component, technology, and region. On the basis of vehicle type, it is bifurcated into passenger car and commercial vehicle. By component, it is categorized into air spring, air reservoir, height sensor, shock absorber, air compressor and electronic control module. On the basis of technology, it is segmented into electronically controlled air suspension, and non-electronically controlled air suspension. By region, it is analyzed for Asia-Pacific, Europe, North America, South America, and LAMEA
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the Air Suspension Market with current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger foothold Air Suspension industry.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The Air Suspension Market is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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KEY MARKET SEGMENTS
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Component:
- Air Spring
- Air Reservoir
- Height Sensor
- Shock Absorber
- Air Compressor
- Electronic Control Module
By Technology
- Electronically Controlled Air Suspension
- Non-Electronically Controlled Air Suspension
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