Global Air Suspension Market, By Vehicle Type (Passenger Cars and Commercial Vehicles), By Component (Air Spring, Air Reservoir, Height Sensor, Shock Absorber, Air Compressor and Electronic Control Module), By Technology (Electronically Controlled Air Suspension and Non-Electronically Controlled Air Suspension), and By Region, Competition, Forecast & Opportunities, 2024
Global air suspension market stood at around $ 733 billion in 2018 and is anticipated to continue its growth trajectory during the forecast period. Rising demand for higher vehicle safety and enhanced passenger comfort are among the major factors boosting the global air suspension market. Global air suspension market has been segmented based on vehicle type, technology type, component type and regional distribution. Based on the vehicle type, global air suspension market can be classified into Passenger Cars (PC) and Commercial Vehicles (CV). PC was the dominant vehicle type in 2018 and the segment is expected to continue its leading position in the coming years as well due to anticipated growth in premium passenger cars.
In terms of regional analysis, market has been segmented into North America, South America, Asia Pacific, Europe and Middle East & Africa. Asia-Pacific air suspension market is growing at a brisk rate with China leading the numbers in the market. India is one of the largest passenger car markets in the world, however, the penetration of air suspension is low, which is anticipated to increase during the forecast period.
Major players operating in global air suspension market include Continental AG, Hendrickson International Corporation, Accuair Suspension, Arnott, among others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Moreover, buyers are showing interest in vehicles equipped with air suspension system, leading to significant volume sales of air suspension systems by auto players.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
- Objective of the Study:
- To analyze and forecast global air suspension market size.
- To classify and forecast global air suspension market based on vehicle type, technology type, component type and regional distribution.
- To identify drivers and challenges for global air suspension market.
- To conduct the pricing analysis for global air suspension market.
- To identify and analyze the profile of leading players operating in global air suspension market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, distribution channels and presence of all major manufacturers across the globe.
TechSci Research calculated global air suspension market size using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Air suspension companies
- Automotive manufacturers
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to air suspension market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global air suspension market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by Vehicle Type:
- Passenger Car
- Commercial Vehicle
- Market, by Technology Type:
- Electronically Controlled Air Suspension
- Non-Electronically Controlled Air Suspension
- Market, by Component Type:
- Air Spring
- Air Reservoir
- Height Sensor
- Shock Absorber
- Air Compressor
- Electronic Control Module
- Market, by Region:
- South Korea
- United Kingdom
- North America
- United States
- South America
- Middle East & Africa
- South Africa
- Saudi Arabia
Company Profiles: Detailed analysis of the major companies present in global air suspension market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
Printing is not available on single-user licenses.