Automotive Air Suspension Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Posted April 12, 2022 by Gauri-Joshi

The global automotive air suspension market is anticipated to expand at a CAGR of 6.1% during the forecast period, 2021 – 2028. The growth of the market is attributed to the increasing demand for luxury buses for long-distance traveling.
Air suspension is driven by an engine-driven compressor or air pump. The air suspension system consists of air springs, shock absorbers, beam assembly, brake system, and axle. This type of suspension increases stability and reduces fuel consumption, which in turn, improves the comfort of the vehicle. The air suspension system also reduces noise and vibration and increases the capacity to transport loads by leveling the suspension. Air suspension consists of different components, which includes air springs and height sensor.

Air springs have more capabilities than conventional coil springs. Vehicles with air suspension maintain better stability and help in adjusting the ride height according to the vehicle speed. The suspension system of a car has two primary objectives, which are to maintain contact between the wheel and road and to prohibit road shocks and undulations to the passenger cabin. Some major bus manufacturers including Volvo, Scania, Daimler, etc. use air suspensions in their buses.

Market Trends, Drivers, Restraints, and Opportunities:

Increasing demand for vehicles integrated with air suspension systems is expected to boost the automotive air suspension market during the forecast period.
The rising production of passenger cars and commercial vehicles is expected to propel market growth.
Growing demand for height sensors is expected to drive market growth.
The high Installation cost of air suspension can hinder the market growth.
Ongoing development of lightweight air suspension systems and technological innovations in the field of electronically controlled air suspension is expected to create significant opportunities for the global automotive air suspension market.

Global Automotive Air Suspension Market Segment Insights

Electronically controlled segment to dominate the market
Based on control types, the global automotive air suspension market is divided into electronically controlled air suspension and non-electronically controlled air suspension. The electronically controlled air suspension segment is expected to dominate the market share owing to the growing adoption of technologically advanced systems in the suspension system. Moreover, its features, which include, raising and lowering the vehicle height, reducing air consumption, high stability, improved ride quality, and the ability to adapt to varying load capacities is driving the segment growth.

The passenger cars segment is to hold a major market share
Based on application types, the global automotive air suspension market is segmented into passenger cars and commercial vehicles. The passenger cars segment is expected to hold a major market share owing to the growing production of passenger vehicles in developing and developed economies. Increasing demand for automobiles in developing economies can be attributed due to the increasing working population, rapid industrialization, and growing middle-income level groups, which is boosting the segment growth.

OEMs segment to account for a considerable market share
Based on end-users, the market is bifurcated into OEMs and aftermarkets. The OEMs segment is anticipated to account for a considerable market share during the forecast period. OEMs provide standardization for independent suspension systems with help of significant parameters while establishing supply contracts. Growing demand for comfort and safety features has increased the installation of independent suspension systems in modern cars, driving the segment growth.

The Asia Pacific to dominate the market share
Based on regions, the market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is expected to dominate the market owing to increasing technological advancements and the existence of major key players in countries such as India, China, And Japan. Rising technological advancements, leading to improved technical capabilities are expected to foster the market growth in the region.

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Issued By Growth Market Reports
Country United States
Categories Automotive
Tags airlift , airsuspension , automotive , bagged , lifeonair
Last Updated April 12, 2022