Global Air Suspension Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Component;

Air springs, Shock absorber, Compressor, Electronic control module, Air reservoir, Height sensors, Solenoid valves and Pressure sensors.

By Technology;

Electronically Controlled and Non-electronically Controlled.

By Vehicle Type;

Light-Duty Vehicle (LDV), Trucks and Buses.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn139817602 Published Date: June, 2024 Updated Date: July, 2024

Introduction

Global Air Suspension Market (USD Million), 2020 - 2030

In the year 2023, the Global Air Suspension Market was valued at USD 7,706.21 million. The size of this market is expected to increase to USD 12,293.76 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 6.9%.

The global air suspension market is poised for substantial growth, driven by a multitude of factors reshaping the automotive industry. Air suspension systems have garnered significant attention due to their ability to provide superior comfort, handling, and versatility compared to traditional suspension setups. This technology employs compressed air to adjust the vehicle's ride height and stiffness dynamically, offering a smoother and more stable driving experience across various terrains.

One of the primary drivers fueling the growth of the air suspension market is the increasing demand for enhanced ride quality and comfort among consumers. As automotive manufacturers strive to meet evolving consumer preferences, the integration of air suspension systems has become increasingly common, particularly in luxury vehicles and high-end SUVs. Moreover, stringent regulations mandating improved vehicle safety and emissions standards have spurred the adoption of air suspension systems, as they offer benefits such as reduced vehicle weight and improved fuel efficiency.

The expansion of the commercial vehicle sector, including trucks, buses, and trailers, presents significant opportunities for the air suspension market. Commercial vehicle operators are increasingly recognizing the value of air suspension in enhancing load-carrying capacity, stability, and safety, particularly for long-haul transportation and logistics applications. Additionally, advancements in technology, such as electronically controlled air suspension systems and predictive maintenance capabilities, are expected to further propel market growth by offering greater efficiency, reliability, and convenience to vehicle operators. With these factors driving demand, the global air suspension market is poised to witness robust expansion in the foreseeable future.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Component
    2. Market Snapshot, By Technology
    3. Market Snapshot, By Vehicle Type
    4. Market Snapshot, By Region
  4. Global Air Suspension Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Growing demand for luxury buses and passenger cars
        2. Increasing advancement in Vehicle Technology
        3. Production of both passenger and commercial automobiles is increasing
        4. Rising global commercial vehicle sales
      2. Restraints
        1. The significant costs associated with installing an air suspension system
        2. The maintenance involved with air suspension can stifle market expansion
        3. High Maintenance and Installation Cost
        4. High development and adoption costs
      3. Opportunities
        1. Technological Advancements Driving Market Growth
        2. Regulatory Emphasis on Vehicle Safety and Emissions
        3. The development of lightweight air suspension systems and technological advances
        4. Increasing demand for lightweight air suspension systems
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Air Suspension Market, By Component, 2020 - 2030 (USD Million)
      1. Air springs
      2. Shock absorber
      3. Compressor
      4. Electronic control module
      5. Air reservoir
      6. Height sensors
      7. Solenoid valves
      8. Pressure sensors
    2. Global Air Suspension Market, By Technology, 2020 - 2030 (USD Million)
      1. Electronically Controlled
      2. Non-electronically Controlled
    3. Global Air Suspension Market, By Vehicle Type, 2020 - 2030 (USD Million)
      1. Light-Duty Vehicle (LDV)
      2. Trucks
      3. Buses
    4. Global Air Suspension Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Continental
      2. ThyssenKrupp
      3. Hitachi
      4. Wabco
      5. Firestone Industrial Products
      6. Hendrickson
      7. Mando Corporation
      8. BWI Group
      9. SAF-Holland
      10. Accuair Suspension
  7. Analyst Views
  8. Future Outlook of the Market