The Global automotive air suspension market was US$ 6.60 Billion in 2023. Automotive Air Suspension Market is anticipated to grow at a CAGR of 6.05% from 2024 to 2032, and it will reach US$ 11.20 Billion by 2032.
Air suspension is a technology used in cars to improve driver comfort. It operates through an air pump or compressor powered by electricity or the engine. These devices connect to the suspension system, allowing air into the textile-reinforced rubber structure. Replacing traditional steel springs, air suspension finds application in heavy vehicles like buses, trucks, and rolling stock. Its primary objective is to ensure a smooth ride experience for occupants. This aspect has significantly contributed to the growth of the automotive air suspension market.
A comfortable ride benefits passenger reduces cargo damage and minimizes driver fatigue during long trips. Suspension plays a critical role in ride quality and vehicle control. Firm suspension can enhance control over body movements and improve handling. Improved driving comfort is in high demand due to ambulances needing to provide a better ride quality to stop patients from getting hurt again, which is boosting the market for automotive air suspensions.
2. Non-Electronically Controlled Air Suspension
2. Shock Absorber
3. Compressor
4. Electronic Control Module
5. Tank
6. Solenoid Valve
7. Height and Pressure Sensors
8. Others
2. Truck
3. Bus
2. Aftermarket Products
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 South Africa
5.2 Saudi Arabia
5.3 UAE
2. AB Volvo
3. Continental AG
4. ThyssenKrupp AG
5. Wabco Holdings Inc.
6. Dunlop Systems and Components Ltd.
7. Accuair Suspension
8. Firestone Industrial Products Company, LLC
Air suspension is a technology used in cars to improve driver comfort. It operates through an air pump or compressor powered by electricity or the engine. These devices connect to the suspension system, allowing air into the textile-reinforced rubber structure. Replacing traditional steel springs, air suspension finds application in heavy vehicles like buses, trucks, and rolling stock. Its primary objective is to ensure a smooth ride experience for occupants. This aspect has significantly contributed to the growth of the automotive air suspension market.
A comfortable ride benefits passenger reduces cargo damage and minimizes driver fatigue during long trips. Suspension plays a critical role in ride quality and vehicle control. Firm suspension can enhance control over body movements and improve handling. Improved driving comfort is in high demand due to ambulances needing to provide a better ride quality to stop patients from getting hurt again, which is boosting the market for automotive air suspensions.
Worldwide Merger and Acquisition in Automotive air suspension market
- Tenneco Inc. successfully acquired Öhlins Racing A.B. in January 2019. Öhlins Racing A.B. is a well-known Swedish company that specializes in creating high-performance suspension systems and parts for the automotive and motorsport industries.
- Arnott completed the purchase of JRi Shocks in November 2021. JRi Shocks is a well-known global supplier with a reputation for creating and producing air suspension solutions for passenger cars.
- The air suspension expert Air Lift Company announced in January 2021 that it has acquired the air tank producer Flo Airride Mfg.
- The deal between Isuzu Motors and the Volvo Group was completed in April 2021, with Isuzu Motors purchasing UD Trucks via the Volvo Group.
- The successful completion of Cummins Inc.'s acquisition of Meritor, Inc., a well-known worldwide supplier of drivetrain, mobility, brakes, service, and electric powertrain solutions for commercial automobiles and industrial applications, was announced in August 2022.
- Hendrickson purchased Liteflex Composite Springs, a producer of cutting-edge composite suspension springs, in July 2023.
- In January 2023, Firestone Industrial Products Company, LLC - a branch of Bridgestone Americas, Inc. - unveiled the revamped Firestone Airide brand. This one brand covers the whole product line and innovations from the company's numerous business areas, including off-highway, heavy duty-commercial, and automotive.
- The previously announced agreement for The Volvo Group to buy the battery division from Proterra Inc. and Proterra Operating Company Inc. was completed in February 2024.
China Automotive Air Suspension Market
Car air suspension will become more and more necessary in the approaching years as a result of China's expanding usage of commercial cars. Improvements in the availability of auto financing and the expansion of infrastructure are also anticipated to help the sector. China's auto industry has expanded dramatically, particularly in the premium car segment. Air suspension is a common feature of luxury passenger automobiles, including SUVs like the Mercedes-Benz S-Class, Audi A7, A8, BMW X5 and X6, and Q7, Range Rover, and Tesla Model S. Because consumers want air suspension in luxury and ultra-luxury cars, the worldwide automotive air suspension industry is expected to grow. China's growing acceptance of air suspension systems makes it a crucial motivator for market expansion. In 2023, models with air suspension, which are primarily seen in tourist buses and occasionally in municipal buses, went on sale in China for 190,000 Yuan.Automotive Air Suspension Company Analysis
Promient players in the automobile air suspension market are Wabco Holdings Inc., Accuair Suspension, Hitachi, Ltd., ThyssenKrupp AG, AB Volvo, Continental AG, Dunlop Systems and Components Ltd., and Firestone Industrial Products Company, LLC.Automotive Air Suspension Company News
- In February 2023, Cautex was a European aftermarket provider of automobile replacement parts, focusing on metal and rubber components. With the release of 177 new part numbers, they introduced new items for 2023. With this launch, they are expanding their product line of air suspension systems by adding a new family of 24 air suspension compressors.
- Hendrickson introduced its air and mechanical axles and suspensions for trailers to the domestic market in July 2023. Furthermore, the business purchased Liteflex Composite Springs, a cutting-edge composite suspension springs producer.
- Li Auto's flagship electric SUV, the Li L7, was upgraded in October 2023 with Tenneco's Monroe Intelligent Suspension CVSAe technology, aimed as compact families. Li's third model integrates CVSAe and modifies damping to provide the best possible handling. Li Magic Carpet air suspension with CVSAe-controlled air springs is available on the Pro and Max versions of the Li L7. It has five adjustable ride heights with Comfort, Standard, or Sport settings. Tenneco offers minimal power usage and adaptability to Li's L9 and L8 SUVs as well as over 16 OE brands worldwide.
- Air suspension dampers, coolant thermostats, and compressors are the three new items that Continental added to their inventory of auto spare parts in September 2021. These improvements fulfill the increased demand for premium components in the aftermarket industry and bolster the automotive supplier's aftermarket product line.
Technology - Global Automotive Air Suspension Market breakup in 2 viewpoints:
1. Electronically Controlled Air Suspension2. Non-Electronically Controlled Air Suspension
Component - Global Automotive Air Suspension Market breakup in 8 viewpoints:
1. Air Spring2. Shock Absorber
3. Compressor
4. Electronic Control Module
5. Tank
6. Solenoid Valve
7. Height and Pressure Sensors
8. Others
Application - Global Automotive Air Suspension Market breakup in 3 viewpoints:
1. Light Commercial Vehicles2. Truck
3. Bus
Sales Channel - Global Automotive Air Suspension Market breakup in 2 viewpoints:
1. Oems2. Aftermarket Products
Country - Global Automotive Air Suspension Market breakup of 25 Countries:
1. North America1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 South Africa
5.2 Saudi Arabia
5.3 UAE
All the key players have been covered from 3 viewpoints:
- Overview
- Recent Developments
- Revenue Analysis
Company Analysis:
1. Hitachi, Ltd.2. AB Volvo
3. Continental AG
4. ThyssenKrupp AG
5. Wabco Holdings Inc.
6. Dunlop Systems and Components Ltd.
7. Accuair Suspension
8. Firestone Industrial Products Company, LLC
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Global Automotive Air Suspensions Market
4. Market Dynamics
6. Market Share - Global Automotive Air Suspension Analysis
7. Technology - Global Automotive Air Suspension Market
8. Component - Global Automotive Air Suspension Market
9. Application - Global Automotive Air Suspension Market
10. Sales Channel - Global Automotive Air Suspension Market
11. Country - Global Automotive Air Suspension Market
12. Porter’s Five Analysis - Global Automotive Air Suspension Market
13. SWOT Analysis - Global Automotive Air Suspension Market
14. Company Analysis - Global Automotive Air Suspension Market
List of Figures
List of Tables
Companies Mentioned
- Hitachi, Ltd.
- AB Volvo
- Continental AG
- ThyssenKrupp AG
- Wabco Holdings Inc.
- Dunlop Systems and Components Ltd.
- Accuair Suspension
- Firestone Industrial Products Company, LLC
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 215 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 6.6 Billion |
| Forecasted Market Value ( USD | $ 11.2 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
