Air Suspension Market Overview
Report Coverage
Key Takeaways
- Europe dominates the air suspension market owing to increasing adoption of electronically controlled air suspension across all the vehicle types
- The growing advancement in air supply modules and associated control technologies by vehicle manufacturers are leading to the introduction of electronically and non-electronically controlled air suspension system in automotive. These technologies are highly gaining popularity and is likely to aid in the market growth of air suspension.
- Growing adoption of ECAS technology in light-duty vehicles for enhancing benefits such as automatically adjusting damper and suspension levels as well as vehicle height during different driving conditions will increase the market demand for air suspension in the near future.
- The major drawback that creates hurdles for the air suspension market is the expensive maintenance and installation.
Air Suspension Market Segment Analysis - By Type of Component
Air Suspension Market Segment Analysis – By Technology
Air Suspension Market Segment Analysis – By Geography
The air suspension market share in Europe is estimated to be 34% in 2020 as this region is highly dominating the growth of air suspension industry, followed by APAC and North America. The economy of Europe is mainly influenced by the economic dynamics of countries such as UK, Germany and Spain, but with growing developments and investments in the countries like Germany, the current scenario is changing. Germany is Europe’s largest producer of major luxury cars brands and majority of Germany’s automotive giants are in the process of investing a huge sum of money that is around $44 billion in the coming years on automotive technology development. This investment will enhance the use of air suspension system in the latest passenger cars and other vehicle types that will fuel the growth of air suspension market.
According to Germany Trade & Invest, around 78% of passenger cars were manufactured in Germany in 2019 for international market. According to German Association of the Automotive Industry (VDA), it was also estimated that the production of passenger cars in Germany has increased by 4% in September 2019 as compared to August 2019. Furthermore, Germany is witnessing high growth in the automotive industry due to leading investments by companies such as Continental, ThyssenKrupp, and SAF-Holland for introducing latest technology in the field of air suspension for all types of vehicles. According to OICA, Germany passenger cars sales witnessed a growth of over 7.17% during 2015-2019 having huge potential to grow.
In APAC region, China has the largest automotive industry in the world and according to China Association of Automobile Manufacturer (CAAM), the production of passenger vehicles was 84.6% in 2019 and sales accounted for 84.4%. India also has excellent potential for automotive industry growth in the future. The country's automotive industry experienced 8% growth in production in 2018, over the previous year. However, the market declined in 2019 and 2020 but is expected to bounce back in the midterm. The rising production of passenger vehicles in countries such as Germany, China, and India will lead to tremendous demand for electronically and non-electronically controlled air suspension technology driving the air suspension market.
Air Suspension Market Drivers
Growing demand for luxury buses and passenger cars
Increasing advancement in Vehicle Technology
Air Suspension Market Challenges
High Maintenance and Installation Cost
Air Suspension Market Landscape
Acquisitions/Technology Launches
- In June 2019, ZF Friedrichshafen AG, a leading supplier for passenger cars, commercial vehicles and industrial technology acquired Wabco Holdings for $136.65 per share. The acquisition considerably will expand Wabco’s capabilities in providing commercial vehicle safety and efficiency. This acquisition will also combine technologies such as vehicle dynamics control, active air suspension systems.
- In May 2019, Ridetech, a provider of high performance suspension components and systems announced its acquisition by Fox Factory Holdings Corp. This acquisition will expand the innovation and technological developments by Ridetech under Fox’s ownership. This will also lead to the expansion of wide range of premium products such as air suspension systems (air ride), coil-overs, shock absorbers, tubular control arms and others.
LIST OF TABLES
1.Global Air Suspension Market By Component Market 2023-2030 ($M)1.1 Air Spring Market By Region Market 2023-2030 ($M) - Global Industry Research
1.2 Shock Absorber Market By Region Market 2023-2030 ($M) - Global Industry Research
1.3 Air Compressor Market By Region Market 2023-2030 ($M) - Global Industry Research
1.4 Electronic Control Module Market By Region Market 2023-2030 ($M) - Global Industry Research
1.5 Air Reservoir Market By Region Market 2023-2030 ($M) - Global Industry Research
1.6 Height Sensor Market By Region Market 2023-2030 ($M) - Global Industry Research
2.Global Air Suspension Market By Technology Market 2023-2030 ($M)
2.1 Electronically Controlled Air Suspension Market By Region Market 2023-2030 ($M) - Global Industry Research
2.2 Non-Electronically Controlled Air Suspension Market By Region Market 2023-2030 ($M) - Global Industry Research
3.Global Air Suspension Market By Component Market 2023-2030 (Volume/Units)
3.1 Air Spring Market By Region Market 2023-2030 (Volume/Units) - Global Industry Research
3.2 Shock Absorber Market By Region Market 2023-2030 (Volume/Units) - Global Industry Research
3.3 Air Compressor Market By Region Market 2023-2030 (Volume/Units) - Global Industry Research
3.4 Electronic Control Module Market By Region Market 2023-2030 (Volume/Units) - Global Industry Research
3.5 Air Reservoir Market By Region Market 2023-2030 (Volume/Units) - Global Industry Research
3.6 Height Sensor Market By Region Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global Air Suspension Market By Technology Market 2023-2030 (Volume/Units)
4.1 Electronically Controlled Air Suspension Market By Region Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Non-Electronically Controlled Air Suspension Market By Region Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America Air Suspension Market By Component Market 2023-2030 ($M)
5.1 Air Spring Market By Region Market 2023-2030 ($M) - Regional Industry Research
5.2 Shock Absorber Market By Region Market 2023-2030 ($M) - Regional Industry Research
5.3 Air Compressor Market By Region Market 2023-2030 ($M) - Regional Industry Research
5.4 Electronic Control Module Market By Region Market 2023-2030 ($M) - Regional Industry Research
5.5 Air Reservoir Market By Region Market 2023-2030 ($M) - Regional Industry Research
5.6 Height Sensor Market By Region Market 2023-2030 ($M) - Regional Industry Research
6.North America Air Suspension Market By Technology Market 2023-2030 ($M)
6.1 Electronically Controlled Air Suspension Market By Region Market 2023-2030 ($M) - Regional Industry Research
6.2 Non-Electronically Controlled Air Suspension Market By Region Market 2023-2030 ($M) - Regional Industry Research
7.South America Air Suspension Market By Component Market 2023-2030 ($M)
7.1 Air Spring Market By Region Market 2023-2030 ($M) - Regional Industry Research
7.2 Shock Absorber Market By Region Market 2023-2030 ($M) - Regional Industry Research
7.3 Air Compressor Market By Region Market 2023-2030 ($M) - Regional Industry Research
7.4 Electronic Control Module Market By Region Market 2023-2030 ($M) - Regional Industry Research
7.5 Air Reservoir Market By Region Market 2023-2030 ($M) - Regional Industry Research
7.6 Height Sensor Market By Region Market 2023-2030 ($M) - Regional Industry Research
8.South America Air Suspension Market By Technology Market 2023-2030 ($M)
8.1 Electronically Controlled Air Suspension Market By Region Market 2023-2030 ($M) - Regional Industry Research
8.2 Non-Electronically Controlled Air Suspension Market By Region Market 2023-2030 ($M) - Regional Industry Research
9.Europe Air Suspension Market By Component Market 2023-2030 ($M)
9.1 Air Spring Market By Region Market 2023-2030 ($M) - Regional Industry Research
9.2 Shock Absorber Market By Region Market 2023-2030 ($M) - Regional Industry Research
9.3 Air Compressor Market By Region Market 2023-2030 ($M) - Regional Industry Research
9.4 Electronic Control Module Market By Region Market 2023-2030 ($M) - Regional Industry Research
9.5 Air Reservoir Market By Region Market 2023-2030 ($M) - Regional Industry Research
9.6 Height Sensor Market By Region Market 2023-2030 ($M) - Regional Industry Research
10.Europe Air Suspension Market By Technology Market 2023-2030 ($M)
10.1 Electronically Controlled Air Suspension Market By Region Market 2023-2030 ($M) - Regional Industry Research
10.2 Non-Electronically Controlled Air Suspension Market By Region Market 2023-2030 ($M) - Regional Industry Research
11.APAC Air Suspension Market By Component Market 2023-2030 ($M)
11.1 Air Spring Market By Region Market 2023-2030 ($M) - Regional Industry Research
11.2 Shock Absorber Market By Region Market 2023-2030 ($M) - Regional Industry Research
11.3 Air Compressor Market By Region Market 2023-2030 ($M) - Regional Industry Research
11.4 Electronic Control Module Market By Region Market 2023-2030 ($M) - Regional Industry Research
11.5 Air Reservoir Market By Region Market 2023-2030 ($M) - Regional Industry Research
11.6 Height Sensor Market By Region Market 2023-2030 ($M) - Regional Industry Research
12.APAC Air Suspension Market By Technology Market 2023-2030 ($M)
12.1 Electronically Controlled Air Suspension Market By Region Market 2023-2030 ($M) - Regional Industry Research
12.2 Non-Electronically Controlled Air Suspension Market By Region Market 2023-2030 ($M) - Regional Industry Research
13.MENA Air Suspension Market By Component Market 2023-2030 ($M)
13.1 Air Spring Market By Region Market 2023-2030 ($M) - Regional Industry Research
13.2 Shock Absorber Market By Region Market 2023-2030 ($M) - Regional Industry Research
13.3 Air Compressor Market By Region Market 2023-2030 ($M) - Regional Industry Research
13.4 Electronic Control Module Market By Region Market 2023-2030 ($M) - Regional Industry Research
13.5 Air Reservoir Market By Region Market 2023-2030 ($M) - Regional Industry Research
13.6 Height Sensor Market By Region Market 2023-2030 ($M) - Regional Industry Research
14.MENA Air Suspension Market By Technology Market 2023-2030 ($M)
14.1 Electronically Controlled Air Suspension Market By Region Market 2023-2030 ($M) - Regional Industry Research
14.2 Non-Electronically Controlled Air Suspension Market By Region Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Air Suspension Market Revenue, 2023-2030 ($M)2.Canada Air Suspension Market Revenue, 2023-2030 ($M)
3.Mexico Air Suspension Market Revenue, 2023-2030 ($M)
4.Brazil Air Suspension Market Revenue, 2023-2030 ($M)
5.Argentina Air Suspension Market Revenue, 2023-2030 ($M)
6.Peru Air Suspension Market Revenue, 2023-2030 ($M)
7.Colombia Air Suspension Market Revenue, 2023-2030 ($M)
8.Chile Air Suspension Market Revenue, 2023-2030 ($M)
9.Rest of South America Air Suspension Market Revenue, 2023-2030 ($M)
10.UK Air Suspension Market Revenue, 2023-2030 ($M)
11.Germany Air Suspension Market Revenue, 2023-2030 ($M)
12.France Air Suspension Market Revenue, 2023-2030 ($M)
13.Italy Air Suspension Market Revenue, 2023-2030 ($M)
14.Spain Air Suspension Market Revenue, 2023-2030 ($M)
15.Rest of Europe Air Suspension Market Revenue, 2023-2030 ($M)
16.China Air Suspension Market Revenue, 2023-2030 ($M)
17.India Air Suspension Market Revenue, 2023-2030 ($M)
18.Japan Air Suspension Market Revenue, 2023-2030 ($M)
19.South Korea Air Suspension Market Revenue, 2023-2030 ($M)
20.South Africa Air Suspension Market Revenue, 2023-2030 ($M)
21.North America Air Suspension By Application
22.South America Air Suspension By Application
23.Europe Air Suspension By Application
24.APAC Air Suspension By Application
25.MENA Air Suspension By Application
26.Continental AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Thyssenkrupp AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Wabco Holdings Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Hendrickson International Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Dunlop Systems & Components, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Hitachi Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Mando Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.BWI Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Accuair Suspension, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Firestone Industrial Products, Sales /Revenue, 2015-2018 ($Mn/$Bn)