The air suspension system is one of the most crucial components in a vehicle, designed to help the car drive smoothly and efficiently. Made up of air springs, an onboard electric air compressor lifts the vehicle to the desired height, inflating each airbag located at each wheel of the car. In addition to the superior driving performance, installing an air suspension system in a vehicle promises several great benefits, due to the capabilities of air springs to absorb road energy more effectively.
The adjustable air suspension system can also help improving carrying capabilities. Air springs in an air suspension system can support any extra weight in the cargo as well as in passenger area. It reduces the risk of bottoming out, rear end sag, and excessive tire wear and tear, all while keeping the car at a certain level. The air suspension system is generally used in luxury cars, buses, and trucks to increase their load-bearing capacity and to provide a quality ride to the passengers.
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Over time, air suspension systems have evolved to a great deal providing better efficiency and easier installation process. As a result, its installations are increasing further driving the demand in the market and hence, the market value. Moreover, Growing demand for luxury cars and an increase in the production of both passenger car and commercial vehicles escalates the market on the global platform.
According to Market Research Future (MRFR), the global automotive air suspension system market is estimated to witness significant accruals by 2023. MRFR also confirms that the market would post a colossal CAGR throughout the forecast period (2017 – 2023). The inclination of consumers towards luxury cars led by the increase in disposable income is a key driving force pushing the market growth.
Additional factors that are influencing the growth of the market include advances in related technology and inclination towards buying premium cars for safety features and quality ride. Increasing sales of luxury cars are predominantly driven by the improving economy, globally. Furthermore, the increase in demand for the cabin comfort and better control & stability of the vehicle is resulting in increasing the growth of the automotive air suspension system market.
Automotive Air Suspension System Market – Segmentation
The report segments the market into four key dynamics to widen the scope of understanding,
By Technology: Manual and Electronic Air Suspension.
By Component: Air Spring, Shock Absorber, Air Compressor, Air Reservoir, Height Sensor, and Electric Control Unit, among others.
By Vehicle Type: Passenger and Commercial Vehiclez
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Automotive Air Suspension System Market – Regional Analysis
The Asia Pacific region would retain its dominance over the global automotive air suspension system market. Increased demand for air suspension system in commercial vehicles majorly led by the increase in the rapidly developing economies such as Japan, India, and China, drive the regional market.
Moreover, factors such as the continuous growth in the automotive sector and the presence of many auto manufacturers in the region foster the growth in the APAC automotive air suspension system market.
North America automotive air suspension system market accounts for the second-largest market, globally. Factors such as a large number of automobiles in the region and the increase in the demand for premium cars drive the regional market growth. Increasing installations of air suspension in vehicles, especially in premium cars propels the growth of the air suspension system market in North America.
Automotive Air Suspension System Market – Competitive Analysis
Highly competitive, the automotive air suspension system market appears to be fragmented due to the presence of many large and small-scale players. Strategic initiatives such as acquisition, collaboration, expansion, and product & technology are adopted by matured players to gain a competitive advantage in this market. Focused on geographical expansion and new product development, players relentlessly bring innovations to the market.
Players leading the global automotive air suspension system market include Hitachi, Ltd. (Japan), Continental AG (Germany), ThyssenKrupp Ag (Germany), Dunlop Systems and Components Ltd. (UK), Wabco Holdings Inc. (Belgium), Accuair Suspension (California), Hendrickson International Corporation (UK), Firestone Industrial Products (UK), Beijing West Industries Co., Ltd. (China), ZF Friedrichshafen (Germany), Mando Corporation (South Korea), LORD Corporation (UK), Air Lift Company (Michigan), Volvo (Sweden), and VB-Airsuspension (Netherlands), among others.
Industry/ Innovation/ Related News
July 17, 2019 — Porsche AG (Germany), is a German automobile manufacturer specializing in high-performance sports cars, SUVs and sedans, announced its plans to bring the Taycan, its first all-electric car, to production in the next few months and test rides to some European media to hype the car. Taycan will have 250 kW charging and some interesting dynamic features, including air suspension, all-wheel drive (rear-drive for the base car), 48-volt anti-roll bars, rear-wheel steering on some models, active aerodynamics, and steel brakes with serious stopping power.
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