Despite the fact that the automotive industry has been running after future technologies such as autonomous vehicles, hybrid quadricycles & NEVs, but on actual grounds automotive manufacturers have been found more focused towards developing enhanced modules for the safety of the vehicles and passengers. The continuous investment in research & development in automotive safety has led to enhancement of conventional products and components. Air spring falls under the category of automotive air suspension and is an important component of this system. Air suspension systems have increasingly being preferred in various categories of automotive due to its enhanced performance, better cushioning and relatively high safety features. Air spring enables enhanced vibration isolation, higher durability and reduced driver fatigue. With a commercial aspect, reduced wear and tear and maintenance cost make air spring more preferred. The market for air spring is projected to remain growth opportunistic and is expected to grow at a moderate pace, owing to the expected increase in adoption of air suspension system.
Global Air Spring Market: Dynamics
With a macro-economic perspective, healthy economic growth across geographies is expected to create business opportunities over the forecast period. Increasing penetration of air suspension system into passenger cars and commercial vehicles is projected to turnout as a primary factor supplementing demand for air spring. Over the past decade, sales of luxury vehicles has registered an upsurge, both in developing and developed nations, the preference for luxurious vehicles is not just limited to passenger cars, but also there has been significant demand for luxurious buses and performance trucks. Many OEMs equip these categories with novel air suspension system and thus turn out to be consumers of air springs. The global air spring market is projected to witness increasing adoption of electronically controlled systems, this trend is expected to continue throughout the forecast period. However, consumption of non-electronically controlled systems is expected to remain dominant.
Global Air Spring Market: Segmentation
The global air spring market can be segmented on the basis of product type, technology, sales channel and vehicle type.
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On the basis of product type, the global air spring market can be categorized as: Convoluted bellows Rolling lobe bellows Sleeve bellows
On the basis of technology, the global air spring market can be categorized as: Non-electronically operated Electronically operated
On the basis of sales channel, the global air spring market can be categorized as: Original Equipment Manufacturer (OEM) Aftermarket
On the basis of vehicle type, the global air spring market can be categorized as: Passenger Car Light Commercial Vehicle (LCV) Heavy Commercial Vehicle (HCV) Coaches & Buses Heavy Trucks Global Air Spring Market: Regional Outlook
By region, Europe is the early adopters of air spring. Europe is expected to dominate the global air spring market in terms of production as well as demand. More number of passenger cars in the Europe region are installed with air suspension system when compared to that in other prominent regions such as North America and Asia Pacific. With significant demand for luxury vehicles, North America air spring market is projected to remain optimistic over the forecast period. The U.S. is expected to create noteworthy demand for air spring in the North America market. North America and Europe are expected to lead in terms of replacement demand as well, over the forecast period. Asia Pacific accounts for high vehicle production across the globe and has relatively high share in vehicle exports. The region is expected to generate significant OEM demand over the forecast period.
Global Air Spring Market: Market Participants
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The market for air spring is characterised by presence of well-established and prominent automotive component manufacturers.
Examples of some of the market participants identified across the value chain of the global Air Spring market are: Continental AG ThyssenKrupp AG Firestone Industrial Products Company, LLC Hendrickson USA, L.L.C. Wabco Holdings Inc. ACCUAIR SUSPENSION Dunlop Systems and components Mando Corp. BWI Group. Tata AutoComp Systems Ltd VB-Airsuspension VDL Weweler-Colaert nv
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on: Market Segments Market Dynamics Market Size Supply & Demand Current Trends/Issues/Challenges Competition & Companies involved Technology Value Chain
Regional analysis includes: North America (U.S., Canada) Latin America (Mexico. Brazil) Western Europe (Germany, Italy, France, U.K, Spain) Eastern Europe (Poland, Russia) Asia Pacific (China, India, ASEAN, Australia & New Zealand) Japan Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights: Detailed overview of parent market Changing market dynamics in the industry In-depth market segmentation Historical, current, and projected market size in terms of volume and value Recent industry trends and developments Competitive landscape Strategies of key players and products offered Potential and niche segments, geographical regions exhibiting promising growth A neutral perspective on market performance Must-have information for market players to sustain and enhance their market footprint
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