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Global Automotive Air Suspension Market Report by Technology, Component, Application, Sales Channel, Region and Company Analysis 2024-2032

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    Report

  • 215 Pages
  • April 2024
  • Region: Global
  • Renub Research
  • ID: 5952068
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.

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 Suspension
2. Non-Electronically Controlled Air Suspension

Component - Global Automotive Air Suspension Market breakup in 8 viewpoints:

1. Air Spring
2. 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 Vehicles
2. Truck
3. Bus

Sales Channel - Global Automotive Air Suspension Market breakup in 2 viewpoints:

1. Oems
2. Aftermarket Products

Country - Global Automotive Air Suspension Market breakup of 25 Countries:

1. North America
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

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 Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Automotive Air Suspensions Market
6. Market Share - Global Automotive Air Suspension Analysis
6.1 Technology
6.2 Component
6.3 Application
6.4 Sales Channel
6.5 Country
7. Technology - Global Automotive Air Suspension Market
7.1 Electronically Controlled Air Suspension
7.2 Non-Electronically Controlled Air Suspension
8. Component - Global Automotive Air Suspension Market
8.1 Air Spring
8.2 Shock Absorber
8.3 Compressor
8.4 Electronic Control Module
8.5 Tank
8.6 Solenoid Valve
8.7 Height and Pressure Sensors
8.8 Others
9. Application - Global Automotive Air Suspension Market
9.1 Light Commercial Vehicles
9.2 Truck
9.3 Bus
10. Sales Channel - Global Automotive Air Suspension Market
10.1 Oems
10.2 Aftermarket Products
11. Country - Global Automotive Air Suspension Market
11.1 North America
11.1.1 United States
11.1.2 Canada
11.2 Europe
11.2.1 France
11.2.2 Germany
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Belgium
11.2.7 Netherlands
11.2.8 Turkey
11.3 Asia Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 South Korea
11.3.5 Thailand
11.3.6 Malaysia
11.3.7 Indonesia
11.3.8 Australia
11.3.9 New Zealand
11.4 Latin America
11.4.1 Brazil
11.4.2 Mexico
11.4.3 Argentina
11.5 Middle East & Africa
11.5.1 South Africa
11.5.2 Saudi Arabia
11.5.3 UAE
12. Porter’s Five Analysis - Global Automotive Air Suspension Market
12.1 Bargaining Power of Buyers
12.2 Bargaining Power of Suppliers
12.3 Degree of Rivalry
12.4 Threat of New Entrants
12.5 Threat of Substitutes
13. SWOT Analysis - Global Automotive Air Suspension Market
13.1 Strength
13.2 Weakness
13.3 Opportunity
13.4 Threat
14. Company Analysis - Global Automotive Air Suspension Market
14.1 Hitachi, Ltd. (Japan)
14.1.1 Overviews
14.1.2 Key Persons
14.1.3 Recent Developments
14.1.4 Revenues
14.2 AB Volvo (Sweden)
14.2.1 Overviews
14.2.2 Recent Developments
14.2.3 Revenues
14.3 Continental AG (Germany)
14.3.1 Overviews
14.3.2 Recent Developments
14.3.3 Revenues
14.4 ThyssenKrupp AG (Germany)
14.4.1 Overviews
14.4.2 Recent Developments
14.4.3 Revenues
14.5 Wabco Holdings Inc. (France)
14.5.1 Overviews
14.5.2 Recent Developments
14.5.3 Revenues
14.6 Dunlop Systems and Components Ltd. (U.K.)
14.6.1 Overview
14.6.2 Recent Development
14.7 Accuair Suspension (U.S.)
14.7.1 Overview
14.7.2 Recent Development
14.8 Firestone Industrial Products Company, LLC (U.S.)
14.8.1 Overview
14.8.2 Recent Development
List of Figures
Figure 01: Global - Automotive Air Suspensions Market (Billion US$), 2019-2023
Figure 02: Global - Forecast for Automotive Air Suspensions Market (Billion US$), 2024-2032
Figure 03: Technology - Electronically Controlled Air Suspension Market (Million US$), 2019-2023
Figure 04: Technology - Forecast for Electronically Controlled Air Suspension Market (Million US$), 2024-2032
Figure 05: Technology - Non-Electronically Controlled Air Suspension Market (Million US$), 2019-2023
Figure 06: Technology - Forecast for Non-Electronically Controlled Air Suspension Market (Million US$), 2024-2032
Figure 07: Component - Air Spring Market (Million US$), 2019-2023
Figure 08: Component - Forecast for Air Spring Market (Million US$), 2024-2032
Figure 09: Component - Shock Absorber Market (Million US$), 2019-2023
Figure 10: Component - Forecast for Shock Absorber Market (Million US$), 2024-2032
Figure 11: Component - Compressor Market (Million US$), 2019-2023
Figure 12: Component - Forecast for Compressor Market (Million US$), 2024-2032
Figure 13: Component - Electronic Control Module Market (Million US$), 2019-2023
Figure 14: Component - Forecast for Electronic Control Module Market (Million US$), 2024-2032
Figure 15: Component - Tank Market (Million US$), 2019-2023
Figure 16: Component - Forecast for Tank Market (Million US$), 2024-2032
Figure 17: Component - Solenoid Valve Market (Million US$), 2019-2023
Figure 18: Component - Forecast for Solenoid Valve Market (Million US$), 2024-2032
Figure 19: Component - Height and Pressure Sensors Market (Million US$), 2019-2023
Figure 20: Component - Forecast for Height and Pressure Sensors Market (Million US$), 2024-2032
Figure 21: Component - Others Market (Million US$), 2019-2023
Figure 22: Component - Forecast for Others Market (Million US$), 2024-2032
Figure 23: Application - Light Commercial Vehicles Market (Million US$), 2019-2023
Figure 24: Application - Forecast for Light Commercial Vehicles Market (Million US$), 2024-2032
Figure 25: Application - Truck Market (Million US$), 2019-2023
Figure 26: Application - Forecast for Truck Market (Million US$), 2024-2032
Figure 27: Application - Bus Market (Million US$), 2019-2023
Figure 28: Application - Forecast for Bus Market (Million US$), 2024-2032
Figure 29: Sales Channel - Oems Market (Million US$), 2019-2023
Figure 30: Sales Channel - Forecast for Oems Market (Million US$), 2024-2032
Figure 31: Sales Channel - Aftermarket Products Market (Million US$), 2019-2023
Figure 32: Sales Channel - Forecast for Aftermarket Products Market (Million US$), 2024-2032
Figure 33: United States - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 34: United States - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 35: Canada - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 36: Canada - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 37: France - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 38: France - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 39: Germany - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 40: Germany - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 41: Italy - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 42: Italy - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 43: Spain - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 44: Spain - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 45: United Kingdom - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 46: United Kingdom - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 47: Belgium - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 48: Belgium - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 49: Netherlands - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 50: Netherlands - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 51: Turkey - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 52: Turkey - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 53: China - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 54: China - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 55: Japan - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 56: Japan - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 57: India - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 58: India - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 59: South Korea - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 60: South Korea - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 61: Thailand - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 62: Thailand - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 63: Malaysia - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 64: Malaysia - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 65: Indonesia - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 66: Indonesia - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 67: Australia - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 68: Australia - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 69: New Zealand - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 70: New Zealand - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 71: Brazil - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 72: Brazil - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 73: Mexico - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 74: Mexico - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 75: Argentina - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 76: Argentina - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 77: Saudi Arabia - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 78: Saudi Arabia - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 79: UAE - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 80: UAE - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 81: South Africa - Automotive Air Suspensions Market (Million US$), 2019-2023
Figure 82: South Africa - Forecast for Automotive Air Suspensions Market (Million US$), 2024-2032
Figure 83: Hitachi, Ltd. (Japan) - Global Revenue (Million US$), 2019-2023
Figure 84: Hitachi, Ltd. (Japan) - Forecast for Global Revenue (Million US$), 2024-2032
Figure 85: AB Volvo (Sweden) - Global Revenue (Million US$), 2019-2023
Figure 86: AB Volvo (Sweden) - Forecast for Global Revenue (Million US$), 2024-2032
Figure 87: Continental AG (Germany) - Global Revenue (Million US$), 2019-2023
Figure 88: Continental AG (Germany) - Forecast for Global Revenue (Million US$), 2024-2032
Figure 89: ThyssenKrupp AG (Germany) - Global Revenue (Million US$), 2019-2023
Figure 90: ThyssenKrupp AG (Germany) - Forecast for Global Revenue (Million US$), 2024-2032
Figure 91: Wabco Holdings Inc. (France) - Global Revenue (Million US$), 2019-2023
Figure 92: Wabco Holdings Inc. (France) - Forecast for Global Revenue (Million US$), 2024-2032
List of Tables
Table 01: Global - Automotive Air Suspension Market Share by Technology (Percent), 2019-2023
Table 02: Global - Forecast for Automotive Air Suspension Market Share by Technology (Percent), 2024-2032
Table 03: Global - Automotive Air Suspension Market Share by Component (Percent), 2019-2023
Table 04: Global - Forecast for Automotive Air Suspension Market Share by Component (Percent), 2024-2032
Table 05: Global - Automotive Air Suspension Market Share by Application (Percent), 2019-2023
Table 06: Global - Forecast for Automotive Air Suspension Market Share by Application (Percent), 2024-2032
Table 07: Global - Automotive Air Suspension Market Share by Sales Channel (Percent), 2019-2023
Table 08: Global - Forecast for Automotive Air Suspension Market Share by Sales Channel (Percent), 2024-2032
Table 09: Global - Automotive Air Suspension Market Share by Countries (Percent), 2019-2023
Table 10: Global - Forecast for Automotive Air Suspension Market Share by Countries (Percent), 2024-2032

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
 

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