Global Air Suspension System Market Size study, By Technology {Electronic Controlled, Non-electronic Controlled}, By Component {Air Spring, Tank, Solenoid Valve, Shock Absorber, Air Compressor, Electronic Control Unit (ECU), Height & Pressure Sensor, Oth

Global Air Suspension System Market Size study, By Technology {Electronic Controlled, Non-electronic Controlled}, By Component {Air Spring, Tank, Solenoid Valve, Shock Absorber, Air Compressor, Electronic Control Unit (ECU), Height & Pressure Sensor, Others}, By Vehicle Type {Light Duty Vehicle, Trucks, Buses, Semi-Trailers, Others}, By Distribution {Original Equipment Manufacturer (OEM), After Market Sale}, Regional Forecasts 2021-2027

Global Air Suspension System Market reached USD Billion in 2020. The Global Air Suspension System Market tends to grow by a CAGR of 7.56%% in the 2021-2027 period.
An air suspension system is a style of vehicle suspension that’s powered by an electric pump or compressor that pumps air into flexible bellows. Air suspension is one of the major spare parts used in different kinds of commercial vehicle, high load vehicle, buses, and others. Air suspension provides a smooth, contact quality ride but in some cases, it is also used in sports suspension. Rising global commercial vehicles sales alongside the surge in demand for premium and high-value vehicles is one of the driving factors for this market. As demand for the vehicle rises, the demand for spare parts automatically increases. As technology is upgrading day by day there’s a huge opportunity for lightweight air suspensions as most of the players are focusing on providing lightweight and compactable vehicles to their customers. Apart from that players are now focusing on after-market sales which acts an opportunity for this market. Initial high set up and maintenance cost is the biggest restraints for this market. The non-electronic controlled system is expected to be the largest segment in the air suspension market by technology as per the estimation. Along with that Air-bellow is estimated to be the largest air suspension aftermarket sale by component in the forecasted year.

Europe is the lead player in the air suspension market, due to its higher adoption rate of air suspension across all vehicle types compared with other regions. Europe and the Asia Pacific are expected to witness a significant CAGR of approx. 6.9% to 6.4% in the forecasted period. The Asia Pacific and North America are the largest revenue collectors in the air suspension market by far and the trend is anticipated to continue over forecasted years.

Major market players included in this report are:
Continental
ThyssenKrupp AG
Hitachi
Wabco
Firestone Industrial Products
Hendrikson
Mando Corporation
BWI Group
SAF Holland
Accuair Suspension
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Technology:
Electronic Controlled
Non-electronic Controlled
By Component:
Air Spring
Tank
Solenoid Valve
Shock Absorber
Air Compressor
Electronic Control Unit (ECU)
Height & Pressure Sensor
Others
By Vehicle Type:
Light-Duty Vehicle
Trucks
Buses
Semi-Trailers
Others
By Distribution:
Original Equipment Manufacturer (OEM)
After Market Sale
By Region:
North America
The U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, the years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027

Target Audience of the Global Air Suspension System Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

Continental
ThyssenKrupp AG
Hitachi
Wabco
Firestone Industrial Products
Hendrikson
Mando Corporation
BWI Group
SAF Holland
Accuair Suspension