Global Automotive Air Suspension Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

There is An Increasing Demand for Buses With Greater Comfort and the Ability to Travel Long Distances Without Causing Much Discomfort

• Air suspension is a vehicle system to enhance driver and passenger comfort during travel. This system is powered by an electric or engine-driven air pump or compressor connected to the vehicle's suspension components. These pumps or compressors facilitate airflow into the suspension system, typically constructed from textile-reinforced rubber. Air suspension is commonly employed in vehicles as an alternative to traditional steel springs and finds extensive applications in heavy vehicles like buses, trucks, rolling stock, and various other large vehicles. The primary objective of air suspension is to deliver a consistently smooth and comfortable ride quality. These factors have had a positive impact on the growth of the air suspension market.
• Drivers: Regarding driving factors, several key trends are influencing the market. Firstly, there is a notable increase in the global sales of commercial vehicles, propelling the industry's growth. Additionally, a rising consumer preference for luxury and high-end automobiles contributes to heightened demand in this market segment. These factors collectively play a significant role in shaping the industry's trajectory.
• Restrictions: In terms of restraints, one prominent factor to consider is the substantial costs associated with developing and adopting the technology or product in question. This financial barrier poses a significant challenge for those looking to enter the market or implement the innovation.
• Opportunities: In the realm of opportunities, two significant trends stand out. Firstly, there is a noticeable uptick in the interest of individuals towards owning vehicles. Secondly, there is a growing demand for vehicles that are lighter in weight.
• Challenges: Within the category of challenges, a notable issue arises from the prevalent existence of local suppliers. Local suppliers dominate the market, presenting a hurdle for potential entrants or businesses looking to establish their presence.

Market Segmentations

• The Global Automotive Air Suspension Market is segmented based on Technology, Component, Vehicle Type, and Geography.
• The market segmentation process for automotive connectors is a sophisticated and intricate approach that relies on four key criteria for effective classification.
• Under the technology category, connectors are distinguished between electronically controlled ones and those not, acknowledging the critical role of electronic systems in modern vehicles.
• The vehicle type aspect of segmentation addresses the unique and diverse requirements of connectors for both passenger and commercial vehicles, recognizing the distinct characteristics of these automotive categories.
• Lastly, the component type classification further refines the segmentation, categorizing connectors into specific types, such as air springs, shock absorbers, air compressors, electronic control units, height sensors, and air reservoirs. This allows for a more detailed understanding of their various applications within the automotive industry.
• Recent Development
• AB Dynamics established SPMM, a next-generation Kinematics and Compliance test equipment that is an essential tool for OEMs transitioning to virtual testing and validation. It allows automotive OEMs to speed the creation and testing of a vehicle’s suspension system by correctly detecting and considering suspension movement.-November 2022
• Hitachi High Tech recognized as CDP Supplier Engagement Leader.- February 2022
• Bridgestone extended its plant in Williamsburg, Kentucky. It created an investment of US$51 Million in Firestone Industrial Products. This was started to cater to the need for air suspension systems across EVs.-May 2021
• Company Profiles
• The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Continental AG, Hitachi Ltd, Stemco, BWI Group, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Automotive Air Suspension Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Automotive Air Suspension Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Automotive Air Suspension Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market