Air suspension is a type of suspension system used in vehicles to provide comfort to drivers while driving. The air suspension system present in vehicle is powered by an electric or engine-driven air pump or compressor. These pumps or compressors attached to the suspension system allows air to flow into the suspension system, which is usually made from textile-reinforced rubber. Air suspension system is used in a vehicle as a replacement for conventional steel springs and have a wider application in heavy vehicles such as buses, trucks, rolling stock, and various heavy vehicles. The main purpose of air suspension is to provide a smooth and constant ride quality to drivers and passengers. These factors have positively impacted the air suspension market growth.
A good quality ride provides comfort to passengers, minimizes damage to cargo, and reduces driver fatigue on long journeys. Suspension is responsible for quality of rides and control on car handling, as cars with firm suspension could result in greater control of body movements and quicker reactions. Ambulances have a special need for a high level of ride quality, to avoid further injury to the already ill passengers. Such factors have boosted the demand for higher driving comfort, which eventually influences the air suspension market.
Air suspensions are anticipated to witness significant growth over the years, owing to rise in awareness among consumers about vehicle safety and comfort while driving.
The air suspension market is segmented on the basis of vehicle type, component, technology, sales channel, and region. By vehicle type, it is categorized into light duty vehicles, trucks, and buses. By components, it is categorized into air spring, tank, solenoid valve, shock absorber, air compressor, Electronic Control Unit (ECU) and height & pressure sensor. By technology, it is categorized into electronically controlled and non-electronically controlled technologies. By sales channel, it is categorized into original equipment manufacturers (OEMs) and aftermarket channels. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the air suspension market include Continental, ThyssenKrupp AG, Hitachi, Wabco, Firestone Industrial Products, Hendrickson, Mando Corporation, BWI Group, SAF-Holland and Accuair Suspension.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Vehicle Type
By Component
By Technology Type
By Sales Channel Type
By Region
North America
Europe
Asia-Pacific
LAMEA
KEY PLAYERS
A good quality ride provides comfort to passengers, minimizes damage to cargo, and reduces driver fatigue on long journeys. Suspension is responsible for quality of rides and control on car handling, as cars with firm suspension could result in greater control of body movements and quicker reactions. Ambulances have a special need for a high level of ride quality, to avoid further injury to the already ill passengers. Such factors have boosted the demand for higher driving comfort, which eventually influences the air suspension market.
Air suspensions are anticipated to witness significant growth over the years, owing to rise in awareness among consumers about vehicle safety and comfort while driving.
The air suspension market is segmented on the basis of vehicle type, component, technology, sales channel, and region. By vehicle type, it is categorized into light duty vehicles, trucks, and buses. By components, it is categorized into air spring, tank, solenoid valve, shock absorber, air compressor, Electronic Control Unit (ECU) and height & pressure sensor. By technology, it is categorized into electronically controlled and non-electronically controlled technologies. By sales channel, it is categorized into original equipment manufacturers (OEMs) and aftermarket channels. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the air suspension market include Continental, ThyssenKrupp AG, Hitachi, Wabco, Firestone Industrial Products, Hendrickson, Mando Corporation, BWI Group, SAF-Holland and Accuair Suspension.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents analytical depiction of the global air suspension market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Vehicle Type
- Light Commercial Vehicles
- Trucks
- Bus
By Component
- Air Spring
- Tank
- Solenoid Valve
- Shock Absorber
- Air Compressor
- Electronic Control Unit (ECU)
- Height & Pressure Sensor
- Others
By Technology Type
- Electric Controlled
- Non-Electric Controlled
By Sales Channel Type
- Original Equipment Manufacturers (OEMs)
- Aftermarket
By Region
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- Italy
- UK
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
LAMEA
- Brazil
- Turkey
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY PLAYERS
- Continental
- ThyssenKrupp AG
- Hitachi
- Wabco
- Firestone Industrial Products
- Hendrickson
- Mando Corporation
- BWI Group
- SAF-Holland
- Accuair Suspension
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Air Suspension Market, By Vehicle Type
Chapter 5: Air Suspension Market, By Component
Chapter 6: Air Suspension Market, By Technology
Chapter 7: Air Suspension Market, By Sales Channel
Chapter 8: Air Suspension Market, By Region
Chapter 9: Company Profiles
Executive Summary
According to the report titled, 'Air Suspension Market by Vehicle Type, Component, Technology Type, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2018-2025,' global air suspension market size was valued at $5.94 billion in 2019, and is projected to reach $9.22 billion by 2026, registering a CAGR of 6.50% 2019 to 2026.Asia-Pacific dominates the market, followed by North America, Europe, and LAMEA. Japan dominated the global air suspension market share in 2018, whereas South Korea is expected to grow at a significant rate in the air suspension market during the forecast period.
Air suspension is a type of suspension system used in vehicles to provide comfort to drivers while driving. The air suspension system present in vehicles is powered by an electric or engine-driven air pump or compressor. These pumps or compressors attached to the suspension system allows air to flow into suspension system which is usually made from textile-reinforced rubber. Air suspension system is used in a vehicle in replacement of conventional steel springs and have a wider application in heavy vehicles such as buses, trucks, rolling stock, and various heavy vehicles. The main purpose of air suspension is to provide a smooth and constant ride quality to driver and passengers, which has positively impacted to the air suspension market growth.
A good quality ride provides comfort to passengers, minimizes damage to cargo, and reduces driver fatigue on long journeys. Suspension is responsible for quality of rides and control on car handling, as cars with firm suspension could result in greater control of body movements and quicker reactions. Ambulances have a special need for high level of ride quality, to avoid further injury to the already ill passengers. Such factors have boosted the demand for higher driving comfort, which eventually influenced Air Suspension Market.
Air suspensions are much more effective and powerful than the ordinary mechanical or spring-based suspension systems, which is the reason they are exclusively used in heavy vehicles. Also, they have a wider demand for installation in vehicles as they provide better and effective suspension and increase the comfort level of vehicles.
Air suspensions used in vehicles are of two types, namely, electric controlled and non-electric controlled. The electrically controlled air suspension system uses low air consumption and includes quick lifting and lowering features, and has high serviceability and concepts for diagnosis.
Factors such as rise in global commercial vehicle sales and increase in demand for premium and luxury vehicles drives the growth of air suspension market. However, factors such as high development and adoption cost of air suspension is supposed to hamper the market growth. Further, increase in demand for lightweight air suspension systems and rising aftermarket demand for air suspension and related components is expected to create numerous opportunities for the growth and expansion of the air suspension market.
Key Finding of The Air Suspension Market:
Based on technology, the non-electric controlled air suspension system generated the highest revenue in 2018.
Based on component, the compressor and Electronic Controlled Unit (ECU) segment was the highest revenue contributor in 2018.
Based on region, Asia-Pacific contributed the highest market revenue in 2018, followed by North America, Europe, and LAMEA.
In Asia-Pacific, China is anticipated to exhibit the highest CAGR during the forecast period.
The key players analyzed in this report are Continental, ThyssenKrupp AG, Hitachi, Wabco, Firestone Industrial Products, Hendrickson, Mando Corporation, BWI Group, SAF-Holland, and Accuair Suspension.
Companies Mentioned
- Continental
- ThyssenKrupp AG
- Hitachi
- Wabco
- Firestone Industrial Products
- Hendrickson
- Mando Corporation
- BWI Group
- SAF-Holland
- Accuair Suspension
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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