Demand for advanced safety features, customization options, and utmost comfort and convenience to boost global air suspension market through 2024.
According to TechSci Research report, “Global Air Suspension Market By Vehicle Type (Passenger Cars and Commercial Vehicles), By Component (Air Spring, Air Reservoir, Height Sensor, Shock Absorber, Air Compressor and Electronic Control Module), By Technology (Electronically Controlled Air Suspension and Non-Electronically Controlled Air Suspension), and By Region, Competition, Forecast & Opportunities, 2024”, the global air suspension market stood at $ 733 billion in 2018, and the market is grow during the forecast period owing to various benefits offered by air suspension systems such as enhanced comfort, maintaining ground clearance automatically, height adjustment as per need and higher safety. Moreover, increasing disposable income and rising demand for high horse power vehicles with higher load carrying capacity are expected to boost demand for air suspension system, globally, during the forecast period.
Browse 141 market data Figures spread through 110 Pages and an in-depth TOC on "Global Air Suspension Market"
Global air suspension market can be segmented based on vehicle type, technology type, component type, region wise. In terms of vehicle type, Passenger Cars grabbed the largest market share in 2018 and the trend is expected to continue in the forthcoming years. In terms of technology type, electronically controlled air suspension is the dominating segment in the global air suspension market, as major passenger cars and commercial vehicles fall in this category. Continental AG, Hendrickson International Corporation, Accuair Suspension, Arnott, among others are some of the leading players operating in the global air suspension market. Surging popularity of luxurious vehicles equipped with air suspension system is pushing the companies to focus on improving the design and functionality of air suspension systems.
“Asia Pacific dominated the global air suspension market in 2018, backed by the presence of leading OEMs and large vehicle fleet. The demand for air suspension systems is anticipated to increase in the region in the coming years as well, on account of continuing increase in sales of passenger cars and commercial vehicles, surging premium vehicle sales, coupled with rising consumer inclination towards enhanced ride comfort, vehicle safety and higher ground clearance.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Air Suspension Market By Vehicle Type (Passenger Cars and Commercial Vehicles), By Component (Air Spring, Air Reservoir, Height Sensor, Shock Absorber, Air Compressor and Electronic Control Module), By Technology (Electronically Controlled Air Suspension and Non-Electronically Controlled Air Suspension), and By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global air suspension market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global air suspension market.