Global Bus Air Suspension System Market 2017-2021
About Bus Air Suspension System
Air suspension system is a type of vehicle suspension that uses an air pump or compressor to pump air into the airbag (bellow). These bellows are made from reinforced rubber to allow air pressure to inflate them and thus raise the vehicle body from the axle. A suspension system in a vehicle enables connection between the vehicle body and the wheels and allows relative motion between them. The main components included in the suspension are a system of tires, springs, shock absorbers, and linkages.
Technavio’s analysts forecast the global bus air suspension system market to grow at a CAGR of 1.58% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global bus air suspension system market for 2017-2021. To calculate the market size, the report considers the shipments of buses that adopt air suspension systems and excludes aftermarket volumes.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Bus Air Suspension System Market 2017-2021
Technavio recognizes the following companies as the key players in the global bus air suspension system market: Continental, Hendrickson, ThyssenKrupp, and WABCO.
Other Prominent Vendors in the market are: BeijingWest Industries (BWI Group), Dunlop Systems and Components, Hitachi, Infineon Technologies, LORD Corporation, Mando Corp, Volvo Buses, Wheels India Limited, and ZF.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is aftermarket component inclusions within oem-fitted air suspension systems. Fleet operators of commercial vehicles are turning pure airbags of air suspension systems to airbags with coil springs fitted inside them. This usually comes as an aftermarket upgrade from the factory built pure airbag air suspension system, which is prone to rupturing issues.”
According to the report, one of the major drivers for this market is rising demand for luxury buses and coaches. Global bus and coach manufacturing is in a growing phase, driven by economic growth in emerging nations, especially in countries such as China and India, where demand for public transport is high. As the demand for intercity transportation grows, there will be rising demand for luxury buses and coaches worldwide. A series of takeovers and joint ventures have happened in the market, particularly in China, India, and Russia, as these manufacturers seek to secure a role in growing markets.
Further, the report states that one of the major factors hindering the growth of this market is high cost of repairs. Low-end ECASS usually are priced upwards of $2,000, while high-end systems are sold at rates above $10,000. This high initial cost of ECASS is also reflected in the replacement parts market. The failure of multiple components can cost between $2,000 and $6,500 to repair, depending on the nature of damage and the components that need to be replaced. In addition, many components are sold in pairs (for example, the airbags used in the suspension system). This means bus owners will have to purchase the entire set even though they only one of the parts needed to be replaced.
Continental, Hendrickson, ThyssenKrupp, WABCO, BeijingWest Industries (BWI Group), Dunlop Systems and Components, Hitachi, Infineon Technologies, LORD Corporation, Mando Corp, Volvo Buses, Wheels India Limited, and ZF.
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