Global Automotive Air Suspension Market Report by Technology (Electronically Controlled Air Suspension and Non-Electronically Controlled Air Suspension), Component (Air Spring, Shock Absorber, Compressor, Electronic Control Module, Tank, Solenoid Valve, Height and Pressure Sensors, and Others), Application (Light Commercial Vehicles, Truck, and Bus), Sales Channel (Oems and Aftermarket Products), Region and Company Analysis 2024-2032

Global Automotive Air Suspension Market Analysis

Global Automotive Air Suspension Market was valued at US$ 6.60 Billion in 2023. It is projected to grow at a CAGR of 6.05% between 2024 and 2032. Renub Research estimated the worth to be US$ 11.20 Billion by 2032.

The increasingly prevalent function in commercial vehicles is automotive air suspension. Traditional metallic springs are replaced with airbags in it. The vehicles offer a smoother experience, progressed handling, and an adjustable ride height. Prevalent in luxurious automobiles, SUVs, and vehicles, its versatility extends to business automobiles and specialty programs. Air suspension systems use compressed air to help the automobile's weight, adjusting stiffness primarily based on avenue conditions or user desire. Despite better initial charges and preservation, its consolation, performance, and flexibility advantages make it a preferred selection in the automobile enterprise.

Global Automotive Air Suspension Market Trends

Rising global commercial automobile sales propel the global automotive air suspension market. The ACEA states that Asia represented 45.2% of all new vehicles, trucks, and buses sold globally. The Americas followed closely behind at 34.5%, with Europe accounting for 15.7%. The rise in sales may be attributed to the developing demand for smoother rides, higher handling, and adjustable ride height. This trend reflects the growing preference for consolation and overall performance in industrial vehicle fleets.

Moreover, the increasing popularity of semi-autonomous and autonomous automobiles propels the global autonomous air suspension market forward. These automobiles require state-of-the-art, completely active suspension structures that leverage records from sensors like vision, LIDAR, and GPS to expect and adjust to road situations in actual time. This integration enhances not only trip consolation but also improves handling and protection. A prime instance is the 2024 Cadillac Celestiq EV, which includes adaptive air suspension, active rear steering, and other modern capabilities to offer unheard-of driving performance and luxurious consolation.

The automobile industry's progress in electronic technology brings massive market expansion opportunities driven by the adoption of superior vehicle structures. As electronic additives advance, they integrate capabilities like advanced driver assistance systems (ADAS), infotainment, and electric propulsion, enhancing vehicle performance and safety. For instance, XPeng's G9 Flagship SUV, with three series and six configurations, offers superior functions like twin-chamber air suspension in 4-wheel drive Performance models, catering to clients searching for brand-new electronic improvements.

Automotive air suspension market may grow significantly in the air spring section

The sector might capture a vast part of the worldwide automotive air suspension market because of its versatility and superior overall performance. Air springs provide adjustable ride height, more suitable consolation, and stability, making them a desired choice for various automobile types and international applications. There are automobiles in which the usage of air spring suspension is a need. The models include the Maybach, Jeep, Ram, Rolls-Royce, Lexus, Volkswagen, and Tesla. These models feature top-adjustable suspension, making it easier for them to go into rough terrain.

Buses could be one of the considerable segments in the global market for automotive air suspension

Buses are predicted to be among the substantially growing segments in the global automotive air suspension market. This is attributed to a growing demand for improved passenger comfort and safety. Air suspension systems offer higher balance, smoother rides, and adjustable height, which makes them essential for modernizing public transportation fleets internationally. For instance, in India, The Urban Bus Specifications (UBS) mandated the purchase of semi-low floor buses with a height of 900 mm, under which around 15,000 buses have been procured. Multiple state transport corporations purchased their first air suspension buses below this task, resulting in a considerable change in how passengers perceived public transportation.

Europe is becoming a major player in the global market for automobile air suspension systems

Europe is rising as a large participant in the international market for automobile air suspension. This is due to strict policies that promote vehicle safety and comfort. Furthermore, the vicinity's taste for luxury automobiles and great riding experiences drive the adoption of air suspension systems. European automakers are incorporating advanced suspension technologies to satisfy purchaser demands, contributing to the marketplace's growth. For instance, in 2021, it was suggested that BMW's first all-electric SUV, the BMW iX3, will feature an optional Continuously Variable Semi-Active Suspension with external valve (CVSAe) technology from Tenneco. This new crossover SUV is the first of next-generation EVs scheduled for release by 2023.

Global Automotive Air Suspension Market Company News

Hitachi, Ltd., AB Volvo, Continental AG, ThyssenKrupp AG, Wabco Holdings Inc., Dunlop Systems and Components Ltd., Accuair Suspension, and Firestone Industrial Products Company, LLC. These are the major companies in the global automotive air suspension market.

• In February 2023 - Cautex was a European supplier of aftermarkets in the automotive spare parts sector, specializing in rubber and metal parts. They have recently launched new products for 2023, which include 177 new part numbers. The launch introduces a new family of 24 air suspension compressors, which complements their existing air suspension system product line.
• In July 2023 - Hendrickson, a global manufacturer of commercial vehicle components, announced the launch of its air and mechanical suspensions and axles for trailers in the domestic market. Additionally, the company has acquired Liteflex Composite Springs, an advanced composite suspension springs manufacturer.
• In October 2023 - Tenneco's Monroe® Intelligent Suspension CVSAe technology enhances Li Auto's Li L7 premium electric SUV, catering to small families. Li's third model is to integrate CVSAe, adjusting damping for optimal handling. Li L7's Pro and Max trims offer Li Magic Carpet air suspension with CVSAe-controlled air springs, providing Comfort, Standard, or Sport settings and five adjustable ride heights. Tenneco extends this technology to Li's L9 and L8 SUVs and over 16 OE brands globally, ensuring adaptability and minimal power consumption.
• In September 2021 - Continental expands its automotive spare parts market offerings by introducing three new products: air suspension dampers, compressors, and coolant thermostats. These additions complement the aftermarket product range of the automotive supplier, catering to the increasing demand for high-quality components in the aftermarket sector.

Technology – Market breakup in 2 viewpoints:

1.    Electronically Controlled Air Suspension
2.    Non-Electronically Controlled Air Suspension

Component – Market breakup in 8 viewpoints:

1.    Air Spring
2.    Shock Absorber
3.    Compressor
4.    Electronic Control Module
5.    Tank
6.    Solenoid Valve
7.    Height and Pressure Sensors
8.    Others

Application – Market breakup in 3 viewpoints:

1.    Light Commercial Vehicles
2.    Truck
3.    Bus

Sales Channel – Market breakup in 2 viewpoints:

1.    Oems
2.    Aftermarket Products

Country – Market breakup of 25 Countries:

1.    North America

1.1    United States
1.2    Canada

2.    Europe

2.1    France
2.2    Germany
2.3    Italy
2.4    Spain
2.5    United Kingdom
2.6    Belgium
2.7    Netherlands
2.8    Turkey

3.    Asia Pacific

3.1    China
3.2    Japan
3.3    India
3.4    South Korea
3.5    Thailand
3.6    Malaysia
3.7    Indonesia
3.8    Australia
3.9    New Zealand

4.    Latin America

4.1    Brazil
4.2    Mexico
4.3    Argentina

5.    Middle East & Africa

5.1    South Africa
5.2    Saudi Arabia
5.3    UAE

All the Key players have been covered from 3 Viewpoints:

•    Overview
•    Recent Development
•    Revenue Analysis

Company Analysis:

1.    Hitachi, Ltd.
2.    AB Volvo
3.    Continental AG
4.    ThyssenKrupp AG
5.    Wabco Holdings Inc.
6.    Dunlop Systems and Components Ltd.
7.    Accuair Suspension
8.    Firestone Industrial Products Company, LLC

Report Details: