Air Suspension Market Size Worth $11.96 Billion By 2032 | CAGR: 6.3%

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.

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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

Air Suspension Market Report Scope