Air Suspension Market Growing at 6.76% CAGR to Reach US$ 8.4 Bn Revenue Till 2025 - Led by Luxury Vehicles Production and Automotive Suspension
PUNE, India, June 17, 2019 /PRNewswire/ -- New Study on air suspension market driven by increasing demand for luxury buses for long distance traveling and growing need of comfort and luxury in passenger cars in RnRMarketResearch library. Air suspension market growing at 6.76% CAGR during forecast period and projected to reach USD 8.4 billion by 2025 from USD 5.3 billion in 2018. Semi-trailer is projected to be largest and fastest growing market for cabin air suspension
Browse 101 Market Data Tables and 52 Figures spread through 171 Pages, 14 Company Profiles and in-depth TOC on "Air Suspension Market by Vehicle Type (LDV, Truck, Bus), Component (Air Spring, Shock Absorber, Compressor, ECU, Tank, Solenoid Valve, Height & Pressure Sensor), Technology (Electronic, Non-Electronic), Cab Suspension, Aftermarket, & Region - Forecast to 2025" at http://www.rnrmarketresearch.com/air-suspension-market-by-vehicle-type-pc-lcv-truck-bus-component-air-spring-shock-absorber-air-compressor-ecu-air-reservoir-height-sensors-technology-electronically-non-electronically-controlled-st-to-2021-market-report.html.
In air suspension market, air bellow holds maximum share. Europe and North America are the leading markets with a high installation rate of air suspension in existing heavy vehicles segment. Also, proposed smart city projects, rising infrastructural spending, & expansion of global companies are expected to boost demand for trucks and buses in Asia Oceania region. This is expected to boost the air suspension components aftermarket in this region.
"Automotive suspension market for Air Suspension is estimated to show the fastest growth in terms of value."
Semi-trailer segment is anticipated to be largest & fastest growing market for cabin air suspension from 2018 to 2025. Semi-trailers are used in extremely harsh and rigorous working environment for off-roading conditions. Therefore, OEMs offer a cabin with air suspension to enhance cabin experience. Leading OEMs in Europe and North America like Scania, MAN, Daimler, Volvo, and Paccar offer cabin air suspension in select heavy truck models with GVWR of 30 tons & above.
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Air spring estimated to hold largest share of air suspension market, by component, from 2018 to 2025. It is a primary component of air suspension that is made of textile-reinforced rubber material. Demand for air spring is directly proportional to demand for air suspension. With rising demand for comfort and safety in passenger and commercial vehicles, market for air suspension and air spring would grow significantly during the review period.
"ECU is a key component of an electronically controlled air suspension system that offers better vibration absorption & enhanced performance."
In air suspension market research, there are mainly two main types of air springs—rolling lobe type and convoluted air springs. Convoluted design is widely used in automotive industry. Two units of air springs are installed per axle in all vehicle types. ECU anticipated growing at highest CAGR during forecast period for components segment. ECU comprises microprocessor, memory, input conditioners, & output drivers.
Key players in air suspension market are Continental AG (Germany), ThyssenKrupp AG (Germany), Firestone Industrial Products (US), Hitachi Ltd. (Japan), Wabco Holdings Inc. (Belgium), SAF-Holland (Germany), Hendrickson International Corporation (US), Accuair Suspension (US), and Mando Corporation (South Korea).
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Asia Oceania region is anticipated to be the fastest growing market for air suspension during the forecast period. The market growth can be attributed to the significant increase in the production of passenger cars and commercial vehicles in region. Further, with an increase in per capita income, China, Japan, and South Korea have witnessed a significant rise in premium vehicle sales and have emerged as lucrative markets for premium automotive OEMs.
Reasons for buying the report
Study provides qualitative and quantitative analysis of air suspension market, by technology & components in terms of volume ('000 units) & value (USD million) at regional level. Study also analyzes cabin air suspension market, by vehicle type, in terms of volume ('000 units) & value (USD million), at regional level. Study provides qualitative & quantitative analysis of air suspension aftermarket, by component, represented in terms of volume ('000 units) & value (USD million) at regional level.
Another research titled Global Automotive Suspension Market is projected to grow at a CAGR of 3.88%, during the forecast period, from an estimated USD 50.76 billion in 2017 to USD 68.84 billion by 2025. The key companies profiled in the study are as ZF (Germany), Tenneco (US), KYB (Japan), Continental (Germany), Magneti Marelli (Italy), Mando (South Korea), NHK Spring (Japan), ThyssenKrupp (Germany), Sogefi (Italy), and Benteler (Austria). Download Free PDF Brochure http://www.rnrmarketresearch.com/contacts/request-sample?rname=1436505 .
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