Vehicle performance and comfort are command utmost prominence while making purchase decision. This demand has fuelled the need of advanced suspension systems which in turn is driving the growth of the air suspension systems market.
Air suspension system is a type of active/semi-active suspension and are gradually gaining preference among automotive manufacturers as well as customers due to the performance advantages they hold over passive systems. A vehicle installed with air suspension systems are featured with better ride quality, comfort, control and enhanced performance. But, the relatively high cost of air suspension systems and the costs related with its maintenance consequently restrain the market growth. On contrary, manufacturers are trying to bridge the gap between the technology and cost associated with air suspension systems.
Air suspension systems have long been into the trucking world, but in the last decade or so, they have been adopted into commercial vehicles sector. Performance cars, all-terrain vehicles, motorcycles, custom cars, etc. use air suspension systems. Today, air suspension systems are mainly installed in luxury vehicles.
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Air Suspension Systems: Drivers
The necessity of comfort in vehicles coupled with increase in demand for luxury vehicles will drive the demand for air suspension systems. Moreover, the newly published standards have mandated to install air suspension systems in middle sized as well as large passenger cars. This is expected to further upsurge the demand of air suspension systems market during the forecast period.
High demand for passenger cars in the market and subsequent developments in the sector will hike the demand of air suspension systems.
Air Suspension Systems: Restraints
However, development & high cost for installing air suspension systems is expected to hamper the growth of the market during the forecast period. Additionally, concerns regarding component failure of air suspension systems is further expected to restrict the growth of the market.
Air Suspension Systems: Trends
The current market trend is such that the air suspension systems are replacing the steel plate suspension systems. This is an objective requirement of reality. The twenty first century vehicle manufacturers understand the necessity of air suspension exploration technology and identify the opportunity of commercial vehicles with air suspension systems in the upcoming years. Air suspension systems are thus a trending opportunity to improve commercial vehicle performance and sustain market competition.
Increasing concern over safety and quality coupled with strict emission norms across the globe prompt air suspension systems manufacturers to develop technologically advanced systems. These systems are designed in such a way that they increase fuel efficiency of vehicles while reducing emissions.
Air Suspension Systems: Segmentation
The global air suspension market can be segmented on the basis of component as:
- Shock absorber
- Air spring
- Air reservoir
- Electronic control module
- Air compressor
- Height sensor
On the basis of technology, the global air suspension systems market can be segmented into:
- Non-Electronically controlled air suspension systems
- Electronically controlled air suspension systems
On the basis of vehicle type, the global air suspension systems market can be segmented into:
- Passenger commercial (PC)
- Light commercial vehicle (LCV)
- Heavy commercial vehicle (HCV)
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Air Suspension Systems: Market Participants
Examples of some of the market participants in the global air suspension systems market identified across the value chain include:
- Thyssenkrupp AG
- Continental AG
- Firestone Industrial Products
- Hendrickson International Corporation
- Wabco Holdings Inc.
- Accuair Suspension
- Hitachi Ltd.
- Dunlop Systems and Components
- Mando Corporation
- BWI Group
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