Air suspension market is projected to grow at a CAGR of 7.54% from 2016 to 2021, to reach a market size of USD 4.69 billion by 2021.
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The key players in the Air Suspension Market include – Continental AG, Hendrickson International Corporation, Thyssen Krupp AG, Dunlop Systems and Components, Wabco Holdings Inc., Hitachi Ltd., Accuair Suspension, Mando Corporation, BWI Group, Firestone Industrial Products.
Owing to its low cost, less complex design and easy handling as compared with electronically controlled air suspension, the market for non-electronically controlled air suspension is largest. The system has a very simple electric connection where air flow inwards and outwards from the air springs through valves.
All the wheels have a good grip to the road surface which leads to increased stability of the steering system and improved braking performance.
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- Raw material suppliers to air suspension component manufacturers
- Manufacturers of air suspension systems
- Traders, distributors, and suppliers of air suspension components
- Automobile industry as end user
- Industry associations
Europe accounts for the largest market share, both in terms of value and volume, as the region houses a number of premium car manufacturers as well as air suspension manufacturers like Continental AG (Germany), Dunlop Systems and Components (U.K.) and ThyssenKrupp AG (Germany) and hence is able to cater to a large variety of consumers. Asia-Oceania is the fastest growing market, both in terms of value and volume, for air suspension.
This is because of the high demand for vehicles, especially in emerging economies such as China and India with several OEMs investing in these regions. Availability of cheap labor and favorable government policies are additional factors that spur this growth.
The air suspension market is dominated by a few globally established players, namely, Continental AG (Germany), Hendrickson International Corporation (U.S.), ThyssenKrupp AG (Germany), Dunlop Systems and Components (U.K.), Wabco Holdings Inc. (Belgium), Hitachi Ltd. (Japan), Accuair Suspension (U.S.) amongst others.
Key growth strategies adopted by these players include new product development, partnerships, agreements, joint ventures, and supply contracts.
Complete Report of 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), & by Region - Global Forecast to 2021 www.rnrmarketresearch.com/contacts/647921
This report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the air suspension market, competitive landscape, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
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