Air Suspension Market Size, Share, Trends, Growth and Forecast 2032

Air Suspension Market Insights

According to a report from Zion Market Research, the global Air Suspension Market was valued at USD 6.96 Billion in 2023 and is projected to hit USD 11.62 Billion by 2032, with a compound annual growth rate (CAGR) of 5.86% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Air Suspension industry over the next decade.

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Global Air Suspension Market: Overview

Air suspension is a type of suspension system that is used in automobiles to provide drivers comfort when driving. An electric or engine-driven air pump or compressor is used to control the air suspension mechanism that is present in the car. These suspension system pumps or compressors allow air to flow through the suspension system, which is normally made of textile-reinforced rubber. As a substitute for traditional steel springs, the air suspension mechanism is found in a vehicle which has a broader use in commercial vehicles such as buses, trucks, rolling stock, and other heavy equipment. The primary aim of air suspension is to provide drivers and passengers with a smooth and reliable level of service. The performance of the air suspension industry has been positively influenced by these factors.

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Global Air Suspension Market: Growth Factors

The rising demand for air suspension systems has had a positive influence on the growth of the global air suspension industry. The growing need for greater travel comfort has raised the demand for luxury vehicles with air suspension systems, such as buses. Due to the high demand for safety requirements, manufacturers have produced new innovative technical air suspension technologies.

In addition, the global air suspension industry is being powered by cheap labour costs and expanded work opportunities. Maneuverability, greater vehicle power, comfort and stability are the key factors affecting the growth of air suspension, while the high production and maintenance costs associated with air suspension will serve as a demand limiting force. Growing demand for luxury buses and premium vehicles in the coming years would fuel the air suspension market.

Global Air Suspension Market: Segmentation

The Air Suspension market is fragmented based on component, technology, vehicle type, and sales channel.

By component, the market is divided into Air springs, Shock absorber, Compressor, Electronic control module, Air reservoir , Height sensors, Solenoid valves, Pressure sensors and Others.

On the basis of technology, the Air Suspension market includes Electronically Controlled and Non-electronically Controlled.

The vehicle type segment is categorised into Light-Duty Vehicle (LDV), Trucks, and Buses. Light-Duty Vehicles is the fastest growing segment in the market for Air Suspension and is expected to rise during the forecast period.

The market for automobiles fitted with advanced components has increased with constant advances and advancements in the automotive industry, which has further increased the demand for lightweight vehicles.

On the basis of Sales Channel, the market is segmented into Original Equipment Manufacturers (OEMs) and Aftermarket.

Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Air Suspension Market: Report Scope

Global Air Suspension Market: Regional Analysis

In terms of production and share, the main market for air suspension is Europe. With their improved technological capabilities, original equipment manufacturers in the European regions are producing highly innovative new technologies and are thus able to fulfil the demands for air suspension systems. In Europe, about 15 to 20 per cent of passenger cars fitted with air suspension systems are offered.

Global Air Suspension Market: Competitive Players

Some main participants of the Air Suspension market are-

• ThyssenKrupp AG
• Hendrickson International Corporation
• Continental AG
• Dunlop Systems and Components
• Wabco Holding Inc.
• Hitachi Ltd.
• Fiat Chrysler Automobiles
• BMW AG
• Volvo
• Daimler AG.
• SAF-Holland
• Accuair Suspension
• Mando Corporation
• among others.

Air Suspension Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa