Market OverviewÂ
Automotive Air Suspension System Market to Reach $9 Billion by 2027 at a CAGR of 6%. The market for vehicle air suspension systems is expanding as a result of consumer preference for cutting-edge technology and rising disposable income. Increased production of both passenger and commercial vehicles, as well as rising demand for luxury vehicles, all contribute to the market's expansion. Consumer preference for cutting-edge technology is anticipated to fuel the market for automotive air suspension systems during the anticipated time frame.
For a quality trip, consumers are choosing to install the newest technological goods in their cars. The market for automobile air suspension systems will expand in the future as a result of rising consumer demand for more comfortable cabins, better control, and more stable vehicles. The major automotive manufacturer will be able to incorporate the newest technologies in luxury cars thanks to the rise in consumer purchasing power. Future market expansion will be a result of rising purchasing power.
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Key Factors:
The leading companies in the market for automotive air suspension systems are Continental Ag (Germany), Hitachi, Ltd. (Japan), ThyssenKrupp Ag (Germany), Wabco Holdings Inc. (Belgium), Dunlop Systems And Components Ltd. (U.K.), Accuair Suspension (California), Firestone Industrial Products (U.S.), Hendrickson International Corporation (U.S.), Beijing West Industries Co., Ltd. (China), Mando Corporation (South Korea), ZF Friedrichshafen (Germany), LORD Corporation (U.S.), Volvo (Sweden), Air Lift Company (Michigan), and VB-Air suspension (Netherlands).
Drivers:
Consumer preference for cutting-edge technology and rising disposable income.
Increased production of both passenger and commercial automobiles and rising demand for premium vehicles .
People are turning to purchasing luxury vehicles to have all the safety features and a comfortable ride.
Market Segmentation:
Compressors or an electric-driven air pump are used to power air suspension. The airbag system, also known as the bellows and typically made of rubber with a textile reinforcement, is pumped by the compressor. To give a comfortable ride, the air pressure lifts the chassis from the vehicle axle. In most passenger and commercial cars, air suspension is used in place of the traditional suspension, which is composed of steel springs. To give passengers a smooth, high-quality ride, air suspension is typically employed in buses, lorries, and other vehicles. In more recent vehicles, air suspension is more effective and simpler to install than traditional suspension systems. To improve ride quality, airbags are used in place of coil springs in the air suspension system.
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To gain a deeper understanding of the market and industry performance, Market Research Future's report on the global automotive air suspension system market includes extensive primary research as well as detailed analysis of both qualitative and quantitative aspects by a variety of industry experts and key opinion leaders. The study provides a thorough picture of the current state of the market, including historical and projected market size in terms of value and volume, technological development, macroeconomic factors, and market-governing factors. The research offers comprehensive data and business plans for the leading market participants. The research also provides a thorough analysis of the various market segments and regions.
Regional Analysis:
The market is divided into four categories based on region: North America, Asia Pacific, Europe, and the Rest of the World. Due to the rising demand for air suspension systems in commercial vehicles in developing countries like India, China, and Japan, the Asia Pacific region is anticipated to dominate the market in the future. The market is anticipated to be driven by the rise in disposable income across Asia and the Pacific. Increased sales of passenger and commercial vehicles will be brought on by rising disposable income, which will indirectly lead to market expansion. Due to rising demand for luxury vehicles, North America is anticipated to overtake Europe as the second-largest market. The installation of air suspension in vehicles will increase in response to the rising demand for luxury vehicles. The market for air suspension systems in North America will be driven by the rise in air suspension installation in vehicles.
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