Air Suspension Market size was valued at USD 32.5 Bn. in 2021 and the total revenue is expected to grow at 7.9% of CAGR through 2022 to 2029, reaching USD 59.71Bn
Air Suspension Market Overview:A type of vehicle suspension known as air suspension is powered by an electric or internal combustion engine-powered air pump or compressor. This pump pressurises the air by using compressed air as a spring. In place of conventional steel springs, air suspension is often used in large vehicle applications, such as buses and trucks. The automobile will gradually descend to the earth if the engine is left off for a long time. A smooth, constant ride that can occasionally self-level is what air suspension aims to provide. Air pressure inside the bag lifts the chassis away from the axle. Although they are frequently called airbags or air bellows, their official name is airbags.The market is growing as a result of factors such as an increase in commercial vehicle sales globally and a rise in demand for high-end and luxury cars. In addition, there will likely be a lot of prospects for the growth and expansion of the air suspension market due to increased aftermarket demand for lightweight air suspension systems and related components. An electric pump or compressor powers an electronic air suspension system, which pushes air into flexible bellows that are commonly constructed of rubber with a textile structure. The performance of the shock absorbers and their damping is managed by an adaptive electronic suspension. In the past several years, technological innovations like electronically controlled air suspension systems have grown more common. In the near future, this is expected to significantly fuel the demand for vehicle air suspension. To know about the Research Methodology :- Request Free Sample Report
Air Suspension Market Dynamics:The application requirement for air suspension is being gradually lowered by Chinese OEMs and Tier 1 suppliers Cars with air suspension are far more comfortable and easy to operate. Most imported luxury vehicles costing more than RMB600,000, including Mercedes-Benz, BMW, Audi, Volvo, Land Rover, and Porsche, are equipped with it. For branding purposes, established automakers like Geely, FAW-Hongqi, and Great Wall Motor as well as up-and-coming manufacturers like NIO, Xpeng, and Li Auto add air suspension on their high-end smart vehicles. They either collaborate with air suspension vendors to realise air suspension penetration below or they focus on autonomous full-stack development. It's possible that Chinese automakers will prefer to create their own air suspension control systems and algorithms (which are eventually integrated into chassis domain controllers). Then divide the hardware assembly into components like sensors, air supply units, air springs, and other parts, and they buy them individually. The ultimate integration is then handled by OEMs. For instance, Shanghai Baolong, Zhongding Sealing Parts, Tuopu Group, and KH Automotive Technologies among others have gradually achieved mass manufacturing and delivery of air suspension components. This method offers potential to domestic component suppliers to create breakthroughs at a single location. Currently, a single vehicle's air suspension costs between 11,000 and 16,000 RMB. The average cost of passenger car air suspension manufactured in China is anticipated to decrease to less than RMB8,000 with the localization of the supply chain and the rise in manufacturing. Air suspension is becoming an optional or even standard feature on models from emerging automakers that cost RMB600,000 to RMB300,000 due to localization and consumption upgrade.Since the introduction of the NIO ES8 and ES6, air suspension has been relegated to vehicles costing less than RMB400,000. ZEEKR 001 and Dongfeng Voyah FREE further reduced air suspension to cars priced around RMB 300,000 in 2021. Models costing more than RMB200,000 now account for a larger percentage of all sales in China, with that percentage increasing from 17.3% in 2016 to 30% in 2021, reflecting the country's evident trend of upgrading its automotive consumption. The use of air suspension has also been pushed by the improvement in automotive consumption. KH Automotive Technologies has an in-house air spring assembly plant with a Phase I production capability of up to 150,000 units annually. In Ningbo Binhai New Area, Tuopu Group's first air suspension system plant, the totalinvestment of about RMB600 million. Beginning in June 2022, the factory will start producing 2 million sets of air suspension per year for 500,000 automobiles. A production line for air springs worth RMB 1 billion has been built in Hefei by Shanghai Baolong, with a yearly capacity to service 100,000 automobiles. Beginning in 2023, the second and third lines will go into production. There are plans to construct an additional six production lines in the future. The business will be able to serve more than 500,000 automobiles with air springs by 2025. The general use of air springs in automobiles will undoubtedly be facilitated by the operation of several air spring production lines in China, creating the hardware groundwork for the introduction of higher-level suspension functions like Magic Carpet Suspension. High cost hamper Air Suspension Market As air suspension is in high demand among original equipment manufacturers (OEMs), adding upscale features to commercial vehicles comes at a high cost to customers. Commercial vehicle sales in low-to-middle income countries are expected to drop due to high adoption costs, which will impede market growth. The installation of suspension systems in heavy trucks and buses is expensive, which will restrain the spread of air suspension systems. The development and integration of cutting-edge technologies into the systems also adds complexity. Commercial cars have a shorter shelf life due to complex system architecture. Therefore, the market for air suspension systems is expected to see development restrictions due to high installation costs and complicated structures. Commercial vehicle high production impact Air Suspension Market Growth? The need for heavy trucks has increased due to increased building activity throughout the globe, increased transportation of machinery and equipment, and growth in the logistics sector. According to the International Organization of Motor Vehicle Manufacturers, approximately 77.9 million cars were produced globally as of 2020, with commercial vehicle sales accounting for over 24.3 million of those vehicles. The use of air suspension systems has grown along with the manufacturing of commercial vehicles. Additionally, the production of both luxury passenger cars and electric buses has improved due to the rising demand for these vehicles for long-distancedistance travel. In the upcoming years, the market demand will be driven by the increased production of luxury passenger vehicles with air suspension systems and electric buses. In the upcoming years, increased production of premium passenger vehicles with air suspension systems and electric buses will drive market demand. The adoption of heavy-duty cars and expanding urbanisation will boost demand for air suspension systems. Electric car adoption is being pushed by growing environmental concerns, particularly in China, the United States, and Germany. As a result, throughout the upcoming years, market players for air suspension systems will have prospects for expansion due to the rising production of commercial vehicles all over the globe
Air Suspension Market Segment Analysis:Based on Vehicle Type, the Air Suspension Market is segmented into light-duty vehicles, Trucks, and Buses. Truck held maximum market share in 2021. Trucks utilize air suspension to keep their ride height constant no matter what the load is. The main concept is to use control valves to provide compressed air into air bladders rather than big springs. As additional weight is applied, the frame is forced closer to the axle, opening a valve that allows more air to enter the airbag. The frame rises as you remove weight, which causes the valve to open and the airbag to expand. The "spring" will thus always have the proper stiffness, providing a smooth ride at a constant height. The continuous movement of air suspensions is driven by several advantages. By specifying air suspensions, fleet managers benefit from lower maintenance costs and a greater resale value for their equipment. Due to less stress and vibration being conveyed to the trailer by the wheels and road, its resale value is better. The equipment experiences less "wear and tear."Additionally, fleets may benefit from longer tire life and better fuel efficiency. With this technology, there is more control over the suspension's softness, which lessens the tendency for the vehicle to bounce on uneasy roads when empty. Repair costs for the related equipment and materials will drop dramatically. The cost of road repairs roads decreases as a result of reduced vibration being produced by trailer air suspension and being transmitted to the roadways. In contrast to standard steel spring suspension, which can result in a rougher ride, vehicles with air suspension are sometimes stated to "glide" over bumps. Air suspension is frequently adjustable, too. This indicates that drivers may choose between a soft ride for a difficult road or a severe ride for better handling. these factor restraining market in future The new Volvo Blade Air Suspension, developed by Volvo Trucks to improve ride, handling, and driver comfort, was introduced today. As the axle twists in conventional highway trailing arm suspensions, the vehicle rises during acceleration and drops while braking, increasing driveline bearing loads and vibration. The Volvo Blade Air Suspension design reduces excessive axle windup and the vibration it causes, giving the driver a smoother ride. The suspension also supports input torque ratings up to 2,050 lb.-ft. greater gross-combination weight ratings since it is less torque reactive. Based on the Application, the Air Suspension Market is segmented in Electronically Controlled, Non-Electronically Controlled. Electronically controlled dominate market during forcaste period. Electronically controlled air suspension (ECAS) systems make use of electronic technology to automatically adjust the suspension's characteristics to the driving, riding, and road conditions. A major element of the ECAS is the vehicle height adjustment, which has a notable impact on the performance of the entire vehicle. It improves vehicle ride comfort and controls and maintains the vehicle height to the appropriate value, increasing stability and fuel efficiency. The worldwide automotive electronically controlled air suspension system market is anticipated to be driven by an increase in demand for automobiles with innovative features, such as electronic controlled air suspension systems. As these systems have an automated load transfer function that decreases the wear of the vehicle axel, several automakers from around the globe are working to develop them. This is because the market for automotive electronically controlled air suspension systems is expected to increase as a result. The last ten years have seen a rise in the demand for cars with greater stability control and higher ground clearance, which is anticipated to drive growth in the global market for automotive electronically controlled air suspension systems. The electronically controlled air suspension system, which is an alternative to spring suspension and increases fuel efficiency by 3%, is expected to drive the global automotive electronically controlled air suspension system market by reducing fuel consumption. Based on OE type, compressor held largest market share in 2021. A component of the vehicle suspension system that keeps the driver comfortable while driving is the air suspension compressor. An electric or engine-driven air pump or compressor powers the vehicle's air suspension system. Additionally, these compressors or pumps attached to the suspension system pump air into the rubber with textile reinforcement suspension system. In place of standard steel springs, air suspension compressor systems are used in a variety of heavy vehicles, including trucks, buses, minibuses, and other big vehicles. The main goal of air suspension is to give drivers and passengers a comfortable and smooth ride. A type of car suspension system called air suspension offers comfort to the driver. An electric or engine-driven air pump or compressor powers the vehicle's air suspension system. These pumps or compressors attached to the suspension system pump air into the suspension system, which is usually made of rubber with textile reinforcement. In addition to having many uses in large vehicles like buses, trucks, rolling stock, and other heavy vehicles, air suspension systems are used in automobiles to replace conventional steel springs. Air suspensions are often used in larger cars because they are far more powerful and efficient than conventional mechanical or spring-based suspension systems. They are also more in demand for use in vehicles since they offer better, more efficient suspension and enhance ride comfort. Vehicles can have either electric-controlled or non-electric-controlled air suspensions. The electronically controlled air suspension system has excellent serviceability and diagnostic capabilities, uses minimal air, and has efficient lifting and lowering capabilities.
Air Suspension Market Regional Insights:The asia pacific region dominated the market with 48 % share in 2021. The asia pacific region is expected to witness significant growth at a CAGR of 7.9% through the forecast period. The production of commercial vehicles has accelerated as the pandemic effect on the region's automotive industry begins to fade, and it is predicted that it will expand at a rate of around 3.5% over the next five years. Due to the increasing purchasing power of the local population in this economy, sales of luxury cars and high-end SUVs have surged in this area. Customers of luxury vehicle segments seek high-quality rides from their cars, which has led OEMs to include air suspension systems more frequently in their designs. Demand for air suspension systems is only seen in trucks and the luxury class of passenger cars., trucks and buses in commercial vehicle segment. As a result of the presence of fast emerging economies like China, Japan, and India in the area, this industry is expected to grow significantly over the next years. China, where the rate of use of air suspension systems in automobiles is rising, is the main market driver in Asia Pacific. The market for vehicle air suspension systems in the nation is consequently being driven by this. thanks to its greater acceptance rate of air suspension across all vehicle types, Europe is expected to dominate the second largest air suspension market throughout the forecast period. Manufacturers of light-duty vehicles including BMW, Mercedes-Benz, Porsche, Audi, and Land Rover provide ECAS technology in a few of their models to improve features like the ability to raise or decrease the vehicle's height. Semi-trailers and multi-axle buses have a higher installation rate for air suspension in the commercial vehicle category. Additionally, technology-driven suppliers like Continental, ThyssenKrupp, and SAF-Holland work hard to provide the newest technology in air suspension to light- and heavy-duty vehicles. The market for air suspension in the region has expanded as a result of all these reasons.
Competative landscapeThe leading companies in the market for automotive air suspension systems are Continental AG (Germany), Hitachi, Ltd. (Japan), ThyssenKrupp AG (Germany), Wabco Holdings Inc. (Belgium), Dunlop Systems And Components Ltd. (U.K.), Accuair Suspension (California), Firestone Industrial Products (U.S.), Hendrickson International Corporation (U.S.), Beijing West Industries Co., Ltd (Netherlands). The key essential companies continuously concentrate on expanding their product portfolios via the introduction of new products and innovation. Additionally, significant funds are being invested in R&D to provide new features to air suspension systems.
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Air Suspension Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2029 Historical Data: 2017 to 2021 Market Size in 2021: US $ 17.05 Bn. Forecast Period 2022 to 2029 CAGR: 4.4% Market Size in 2029: US $ 24.06 Bn. Segments Covered: by Vehicle Type • Light Duty Vehicles • Trucks • Buses by Application • Electronically Controlled, • Non-Electronically Controlled by OE Type • Air Springs, • Shock Absorbers, • Compressors, • Electronic Control Units, • Air Reservoirs, • Height Sensors, • Solenoid Valves, • Pressure Sensors
Air Suspension Market, by Region• North America • Europe • Asia Pacific • South America • Middle East and Africa
Air Suspension Market Key Players• Continental AG (Germany) • Hitachi, Ltd. (Japan) • ThyssenKrupp AG (Germany) • Wabco Holdings Inc. (France) • Dunlop Systems And Components Ltd. (U.K.) • Accuair Suspension (U.S.) • Firestone Industrial Products Company, LLC (U.S.) • Hendrickson USA, L.L.C. (U.S.) • BWI Group (China) • Mando Corp. (South Korea) • ZF Friedrichshafen AG (Germany) • Parker Hannifin Corp (U.S.) • AB Volvo (Sweden) • Air Lift Company (U.S.) • VB-Airsuspension (Netherlands) Frequently Asked Questions: 1] How much does it cost to install air suspension? Ans. Depending on your vehicle and region, the average cost of an air suspension system might range from $500 to $2,000+. The cost of adding air suspension helper springs to a vehicle will likely be on the lower end of the price range. 2] Do luxury cars have air suspension? Ans. Many contemporary SUVs, premium vehicles, and even everyday commuter vehicles from manufacturers like Audi, BMW, Mercedes, and Land Rover are available with air suspension. This suspension system may lessen the effect of potholes and uneven roads, making your automobile seem smoother to drive. 3] What is the cost of air suspension in India? Ans. Depending on the price of the materials and labour, installing aftermarket air suspension might cost anywhere between Rs. 1 lakh and 1.5 lakhs. 4] What is the forecast period for the Global Air Suspension Market? Ans. The forecast period for the Air Suspension Market is 2021-2029. 5] What was the market size of the Global Air Suspension Market in 2021? Ans. The market size of the Air Suspension Market in 2021 was valued at US$ 32.5 Bn.
1. Global Air Suspension Market Size: Research Methodology 2. Global Air Suspension Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Air Suspension Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Air Suspension Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Air Suspension Market Size Segmentation 4.1. Global Air Suspension Market Size, by Vehicle Type (2021-2029) • Light Duty Vehicles • Trucks • Buses 4.2. Global Air Suspension Market Size, by Application (2021-2029) • Electronically Controlled • Non-Electronically Controlled 4.3 . Global Air Suspension Market Size, by OE Type (2021-2029) • Air Springs • Shock Absorbers • Compressors • Electronic Control Units • Air Reservoirs • Height Sensors • Solenoid Valves • Pressure Sensors 5. North America Air Suspension Market (2021-2029) 5.1. North America Air Suspension Market Size, by Vehicle Type (2021-2029) • Light Duty Vehicles • Trucks • Buses 5.2. North America Air Suspension Market Size, by Application (2021-2029) • Electronically Controlled • Non-Electronically Controlled 5.3. North America Air Suspension Market Size, by OE Type (2021-2029) • Air Springs • Shock Absorbers • Compressors • Electronic Control Units • Air Reservoirs • Height Sensors • Solenoid Valves • Pressure Sensors 5.4. North America Semiconductor Memory Market, by Country (2021-2029) • United States • Canada • Mexico 6. European Air Suspension Market (2021-2029) 6.1. European Air Suspension Market, by Vehicle Type (2021-2029) 6.2. European Air Suspension Market, by Application (2021-2029) 6.3. European Air Suspension Market, by OE Type (2021-2029) 6.4. European Air Suspension Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Air Suspension Market (2021-2029) 7.1. Asia Pacific Air Suspension Market, by Vehicle Type (2021-2029) 7.2. Asia Pacific Air Suspension Market, by Application (2021-2029) 7.3. Asia Pacific Air Suspension Market, by OE Type (2021-2029) 7.4. Asia Pacific Air Suspension Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Air Suspension Market (2021-2029) 8.1. Middle East and Africa Air Suspension Market, by Vehicle Type (2021-2029) 8.2. Middle East and Africa Air Suspension Market, by Application (2021-2029) 8.3. Middle East and Africa Air Suspension Market, by OE Type (2021-2029) 8.4. Middle East and Africa Air Suspension Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Air Suspension Market (2021-2029) 9.1. South America Air Suspension Market, by Vehicle Type (2021-2029) 9.2. South America Air Suspension Market, by Application (2021-2029) 9.3. South America Air Suspension Market, by OE Type (2021-2029) 9.4. South America Air Suspension Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Continental AG (Germany) 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Hitachi, Ltd. (Japan) 10.3. ThyssenKrupp AG (Germany) 10.4. Wabco Holdings Inc. (France) 10.5. Dunlop Systems And Components Ltd. (U.K.) 10.6. Accuair Suspension (U.S.) 10.7. Firestone Industrial Products Company, LLC (U.S.) 10.8. Hendrickson USA, L.L.C. (U.S.) 10.9. BWI Group (China) 10.10. Mando Corp. (South Korea) 10.11. ZF Friedrichshafen AG (Germany) 10.12. Parker Hannifin Corp (U.S.) 10.13. AB Volvo (Sweden) 10.14. Air Lift Company (U.S.) 10.15. VB-Airsuspension (Netherlands)