Air Suspension Market to Reach USD 12.07 Billion by 2032 Owing to Rising Demand for Comfort and Luxury in Transportation

The Air Suspension Market is experiencing substantial growth, driven by rising consumer demand for comfort & luxury in both personal & commercial transportation

AUSTIN, TX, UNITED STATES, November 26, 2024 /EINPresswire.com/ --

Global Air Suspension Market

The Air Suspension Market was valued at USD 6.90 billion in 2023 and is expected to reach USD 12.07 billion by 2032, growing at a CAGR of 6.42% during the forecast period of 2024-2032.

Continued demand for comfort and technological advancements are accelerating the adoption of air suspension systems.

The demand for luxury vehicles, especially buses for long-distance travel, and the gradually increasing importance attached to passenger comfort are resulting in growth in air suspension demand. Air suspension systems are an essential technology, as they use air as opposed to the traditional metal springs, thus improving ride comfort and reducing passenger and driver fatigue. It's critical for air suspension systems, especially in heavier vehicles such as buses, trucks, and trains because it not only provides comfort but also reduces cargo damages and improves handling of the vehicle.

For passenger comfort and the control of handling as significant aspects of contemporary automotive design, there has been an increasing demand for advanced air suspension systems. Electric and autonomous vehicles might further increase the demand. With improved fuel efficiency, improved ride quality, and enhanced safety as benefits, air suspension systems have developed to be an integral fit for future vehicles. The logistics and e-commerce industries, which are expanding, will also propel the integration of air suspension systems in transportation sectors for commercial purposes.

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Key Players Listed in the Air Suspension Market Are:

• Continental AG (Germany)
• Stemco
• ThyssenKrupp AG (Germany)
• Firestone Industrial Products (US)
• Hitachi Ltd. (Japan)
• Wabco Holdings Inc. (Belgium)
• SAF-Holland (Germany)
• Hendrickson International Corporation (US)
• LORD Corporation
• Accuair Suspension (US)
• Airlift Company
• Magneti Marelli S.p.A.

Growing Disposable Income and Adventurous Spirit Drive Demand for Luxury Vehicles with Air Suspension Systems.

Growing disposable income for customers and, in turn, growing demand for luxury vehicles featuring high-end suspension capabilities represent a joint impetus to the growth of the Air Suspension Market. Specifically, this is assisted by all-terrain vehicle enthusiasts, who are both increasingly motivated by their rising disposable income and an increasing desire for adventure. Their automobile purchase of vehicles with air suspension systems, which provide a smoother and more comfortable ride, is propelling the market. Additionally, campaigns for off-road vehicles revolve around consumers' adventurous spirit and have contributed to the creation of demand for these systems.

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Air Suspension Market Segment Analysis

Among various segments of vehicles, passenger cars lead in terms of types, while air compressors dominate the components.

By Vehicle Type

Passenger cars have emerged as the leading vehicle type in the air suspension market, mainly due to rising consumer demand for comfort in personal transportation. With luxury rides becoming the hallmark of modern automobiles, comfort riders will increasingly seek air suspension systems for their vehicles. Commercial vehicles are also increasingly fitted with air suspension to improve driver comfort as well as to protect cargo, thereby serving as a fuel that might further boost the market.

By Component

Component-wise, the air compressor takes the lead with a share of more than 32% in the year 2023 as it majorly provides different pieces of equipment that inflate and regulate the air springs that power the suspension system. Following air compressors come air springs that take over 28% of the market, providing the base for the system by absorbing shocks and vibrations. Other components such as height sensors, electronic control units, and shock absorbers are also important for achieving smooth operating conditions and for air suspension to perform better.

Air Suspension Market Key Segmentation

By Vehicle Type:

• Passenger car
• Commercial vehicle

By Technology:

• Manual Air Suspension
• Electronic Air Suspension

By Component:

• Shock Absorber
• Air Spring
• Height sensor
• Air compressor
• Electric control unit
• Air Reservoir
• Others

By End-user:

• OEM
• Aftermarket

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Regional Analysis

APAC is the only region growing due to an increase in air suspensions demanded by the emerging economies in this region.

The Asian-Pacific region is forecasted to dominate the Air Suspension Market, as fast urbanization and high standards of living are witnessed in countries like China, Japan, and India. The aspects of environmental sustainability and fuel efficiency are growing emphasis on regions like this that are driving the adoption of air suspension systems. There is a demand for vehicles offering comfort and longevity arising from expanding urbanization and that are contributing to the increasing adoption of air suspension systems.

This market is dominated by China and uptake of air suspension systems is accelerating in the automotive sector here. Continued industrialization and expansion of transportation infrastructure are further creating demand for more advanced suspension systems within the region and are making Asia Pacific an important market for future growth.

Recent Developments

March 2024: Hitachi Construction Machinery Americas has launched six new models for its new ZAXIS-7 line of medium to large excavators. The excavators have been upgraded in terms of comfort, visibility, fuel efficiency, durability, and productivity. The cab also boasts increased head clearance and leg room with one-touch adjustable Air Suspension seat perfectly synchronized with the console to simplify adjustments.

October 2024: SAF-Holland said that the NEWAY ADZ rear Air Suspension is now available as a published option on several Peterbilt models. The product is available for the Peterbilt 536 and 537 units, both of which feature a 23,000-pound single axle capacity, as well as on the Peterbilt 548, with both capacities of 23,000-pound single axle and 46,000-pound tandem axle.

Table of Contents

1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Impact Analysis
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Global Air Suspension Market Segmentation, by Vehicle Type
10. Global Air Brake System Market Segmentation, by Component
11. Global Air Suspension Market Segmentation, by End-user
12. Global Air Suspension Market Segmentation, by Technology
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion

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