Ozone Market Reports projects that the Air Suspension market size will grow from USD 3.53 Billion in 2017 to USD 5.40 Billion by 2023, at an estimated CAGR of 7.36%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
The market is primarily driven by the increasing demand for luxury buses for long distance travel and growing significance of comfort and luxury among car buyers.
The passenger car segment is the fastest growing segment globally, in terms of both value and volume, whereas the heavy commercial vehicle segment is the promising market for air suspension systems in the near future. The increasing awareness about the benefits of air suspension along with shifting consumer preferences towards comfort and luxury is encouraging OEMs to focus on manufacturing more advanced suspension systems with increasing penetration in the case of passenger cars.
By Market Players:
Continental AG , Thyssenkrupp AG , Wabco Holdings Inc. , Hendrickson International Corporation , Dunlop Systems and Components , Hitachi Ltd. , Mando Corporation , BWI Group , Accuair Suspension , Firestone Industrial Products , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Air Spring, Shock Absorber, Air Compressor, Electronic Control Module , Air Reservoir , , , ,
Electronically Controlled Air Suspension , Non-Electronically Controlled Air Suspension , , , , , , ,
By Rolling Stock Type
Diesel , DMU, EMU, , , , , ,
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Points Covered in The Report:
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