Global Air Suspension Market Size study & Forecast, by Vehicle Type (Light Commercial Vehicle (LCV), Trucks, Bus), by Component (Air Spring, Tank, Solenoid Valve, Shock Absorber, Air Compressor, Electronic Control Unit (ECU), Height & Pressure Sensor, Oth

Global Air Suspension Market Size study & Forecast, by Vehicle Type (Light Commercial Vehicle (LCV), Trucks, Bus), by Component (Air Spring, Tank, Solenoid Valve, Shock Absorber, Air Compressor, Electronic Control Unit (ECU), Height & Pressure Sensor, Others), by Technology (Electronic Controlled, Non-Electronic Controlled), by Sales Channel (Original Equipment Manufacturers (OEMs), Aftermarket) and Regional Analysis, 2023-2030

Global Air Suspension Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Air suspension is a type of vehicle suspension system that uses compressed air as a springing medium to support the weight of the vehicle and absorb road shocks and vibrations. Instead of traditional steel coil or leaf springs, air suspension relies on airbags or air springs to provide a more adjustable and comfortable ride. The air pressure inside these airbags can be adjusted, allowing for varying levels of stiffness or softness in the suspension. The key factors driving the market growth are rising global commercial vehicle sales, increasing demand for premium and luxury vehicles, and growing vehicle customization and personalization trends that anticipated to support the market growth during the forecast period 2023-2030.

Moreover, the growing demand for commercial vehicles is creating a significant impact on the Air Suspension Market. With the rise in commercial vehicle production and usage, there is a growing emphasis on improving their overall performance, safety, and comfort. The Air suspension offers several advantages over conventional steel spring suspensions, such as enhanced ride quality, better load-carrying capacity, and improved stability and control, especially for larger and heavier vehicles. According to Statista, in 2014 the sales of commercial vehicle in China were 3.79 million units and in 2021 the number reached 4.79 million units. Also, according to the same source, in Canada 1.12 million commercial vehicles were sold in 2014 and in 2021 the number reached 1.38 million. As a result, rising sales of commercial vehicle is anticipated to create a lucrative demand for the market. Additionally, increasing demand for lightweight air suspension systems and rising aftermarket demand for air suspension & related components are anticipated to create lucrative opportunities for the market during the forecast period 2023-2030. However, the high development and adoption cost of air suspension stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Air Suspension Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing demand for luxury vehicles, the growing commercial vehicle market, increased focus on safety, and rising interest in customization. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the growing automotive industry, rising demand for luxury and premium vehicles, growing focus on ride comfort and safety, and increased adoption in commercial vehicles.

Major market player included in this report are:
Saf-Holland S.A.
Continental Ag.
Thyssenkrupp Ag
Bwi Group
Hendrickson USA L.L.C.
Hitachi Ltd.
Accuair Suspension
Wabco
Firestone Industrial Products (Subsidairy Of Bridgestone)
Mando Corporation

Recent Developments in the Market:
 In May 2021, Firestone announced plans to expand its Williamsburg, Kentucky Firestone Industrial Products Plant to meet the rising demand for innovative air suspension technology in electric vehicles.

Global Air Suspension Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Vehicle Type, Component, Technology, Sales Channel, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Vehicle Type:
Light Commercial Vehicle (LCV)
Trucks
Bus
By Component:
Air Spring
Tank
Solenoid Valve
Shock Absorber
Air Compressor
Electronic Control Unit (ECU)
Height & Pressure Sensor
Others
By Technology:
Electronic Controlled
Non-Electronic Controlled
By Sales Channel:
Original Equipment Manufacturers (OEMs)
Aftermarket
By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Saf-Holland S.A.
Continental Ag.
Thyssenkrupp Ag
Bwi Group
Hendrickson USA L.L.C.
Hitachi Ltd.
Accuair Suspension
Wabco
Firestone Industrial Products (Subsidairy Of Bridgestone)
Mando Corporation

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