Dublin, May 03, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Air Suspension Market Report by Technology, Component, Application, Sales Channel, Region and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
Global Automotive Air Suspension Market Projected to Reach US$ 11.20 Billion by 2032
Rapid Growth in Automotive Comfort Technologies
The Global automotive air suspension market, valued at US$ 6.60 billion in 2023, is anticipated to grow robustly at a CAGR of 6.05% over the next nine years. This growth trajectory is poised to culminate in a market size of US$ 11.20 billion by 2032. The surge is underpinned by the increasing demand for ride comfort in heavy-duty vehicles, including buses, trucks, and rolling stock, where air suspension systems are extensively applied.
Emerging Trends and Market Dynamics
The market expansion is further energized by recent consolidations and strategic acquisitions among top industry players, enhancing their capabilities and market reach. Such activities are emblematic of a vibrant and maturing industry, keen on innovation and customer satisfaction.
In parallel, the Chinese market is undergoing a transformation with a burgeoning demand for automotive air suspension systems, especially within its commercial vehicles sector. Premier passenger vehicles are commonly equipped with air suspension, and this trend is expected to propel the overall growth in the global ecosystem.
Technological Advancements and New Product Lines
Leading companies are moving rapidly to capitalize on this growing market through product diversification and the introduction of new technologies. The market is segmented into electronically controlled and non-electronically controlled air suspension systems, catering to a wide array of automotive applications. Such advancements will likely bolster the adoption of air suspension systems across various vehicle segments.
Continental Expansion and Market Penetration
The automotive air suspension market is witnessing geographical expansion, with significant activities occurring in regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North American and European countries, with their established automotive industries, continue to play key roles in market development. In contrast, the Asia Pacific region is recognized as a rapidly emerging market segment with immense growth potential.
A Look at Key Market Players
The report also envelops a critical analysis of major industry players, outlining their recent developments and revenue analysis. The prominent companies shaping the automotive air suspension landscape include Hitachi, Ltd., AB Volvo, Continental AG, and others, which are driving innovation and setting new standards for air suspension technologies in the automotive sector.
The growth trajectory of the global automotive air suspension market demonstrates a vibrant and evolving industry, with a focus on enhancing the comfort and driving experience in the automotive sector. This industry's commitment to technological advancements and strategic market maneuvers indicates a future marked by growth, innovation, and heightened competition.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 215 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $6.6 Billion |
| Forecasted Market Value (USD) by 2032 | $11.2 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
Companies Featured
- Hitachi, Ltd.
- AB Volvo
- Continental AG
- ThyssenKrupp AG
- Wabco Holdings Inc.
- Dunlop Systems and Components Ltd.
- Accuair Suspension
- Firestone Industrial Products Company, LLC
For more information about this report visit https://www.researchandmarkets.com/r/hqyi61
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
