Air Suspension Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Light Commercial Vehicle, Trucks, Bus, and Others); By Component; By Technology; By Region; Segment Forecast, 2023 - 2032

Air Suspension Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Light Commercial Vehicle, Trucks, Bus, and Others); By Component; By Technology; By Region; Segment Forecast, 2023 - 2032

The global air suspension market size is expected to reach USD 11.96 billion by 2032, according to a new study by Polaris Market Research. The report “Air Suspension Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Light Commercial Vehicle, Trucks, Bus, and Others); By Component; By Technology; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing need and prevalence for comfort and safety mainly for long-distance travelling by the general public coupled with the rising investments by major automotive companies for providing smooth and travelling experiences to their customers are major prominent factors expected to fuel the growth of the market. Furthermore, the rapid development of autonomous vehicle technology and high focus of key players on the transformation of automotive industry through the introduction of latest and advanced technology is likely to create lucrative growth opportunities for the market.

For instance, in September 2022, Global Air Cylinder Wheels announced its plan to launch a developed commercially-ready air suspension wheel for mining, that is an eco-friendly, safer, and stronger traditional rubber tire alternative. It includes features like no overheating, less waste, lower rolling resistance, and a longer lifetime.

With the rapid advancements in technology, air suspension systems are now able to be easily integrated with ADAS technology to provide enhanced features such as automatic leveling, lane-keeping assistance, and adaptive cruise control. In recent years, electronic control systems are constantly becoming more common in these systems, as it allows more precise control over the ride height, damping, and other variables, which is resulting in high traction worldwide.

Moreover, the extensively growing penetration and increasing introduction to several other enhanced safety features that are being integrated with suspension systems such as the adaptive cruise control and land departure warning systems, boost the overall safety of vehicles by offering a stable and smooth ride to passengers.

Air Suspension Market Report Highlights

Light commercial vehicle segment accounted for highest market share in 2022, on account of increasing penetration and prevalence for better comfort and improved safety among consumers

Air spring segment is projected to hold a significant market share over the forecast period, mainly due to its widespread adoption across commercial vehicles to improve its fuel efficiency and reduce maintenance costs

Electronic controlled segment held the largest market share in 2022, which is mainly driven by its growing demand and integration among luxury vehicles with innovative technologies

Asia Pacific region dominated the global market with maximum share in 2022, owing to growing sales of vehicles sales and rising government initiatives towards the development of advanced systems

The global key market players include Mando Corporation, Hitachi Ltd., Continental, Parker Hannifin Corporation, Firestone Industrial, & Jamna Auto Industries

Polaris Market Research has segmented the air suspension market report based on vehicle type, component, technology, and region:

Air Suspension, Vehicle Type Outlook (Revenue - USD Billion, 2019 - 2032)

Light Commercial Vehicle

Trucks

Bus

Others

Air Suspension, Component Outlook (Revenue - USD Billion, 2019 - 2032)

Air Spring

Tank

Solenoid Valve

Shock Absorber

Air Compressor

Electronic Control Unit

Height & Pressure Sensor

Others

Air Suspension, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

Electronic Controlled

Non-Electronic Controlled

Air Suspension, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa