Air Suspension Market

Air Suspension Market by Component (Air Spring, Shocker, Compressor, ECU, Tank, Solenoid Valve, Height & Pressure Sensor), Technology (Electronic, Non-Electronic), Cab Suspension, Vehicle Type (ICE & Electric), Aftermarket & Region - Global Forecast to 2027

Report Code: AT 4470 Aug, 2022, by marketsandmarkets.com

[217 Pages Report] The air suspension market is expected to grow from USD 17.8 billion in 2022 and is projected to reach USD 21.8 billion in 2027, at a CAGR of 4.2% during the forecast period. The demand for air suspension is driven by the increased demand for vehicle comfort and safety and the increasing adoption of air suspension systems in HCVs.

Air Suspension Market

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The most likely scenario taken into consideration is the gradual resumption of global production volumes, wherein global vehicle sales are recovering from the impacts of the pandemic. In this scenario, the air suspension market is to have a moderate impact and will witness steady growth.

Air Suspension Market Dynamics

Driver: Rising global commercial vehicle sales

The global demand for commercial vehicles has shown significant growth in recent years. According to OICA statistics, commercial vehicle sales have increased from 21.7 million units in 2020 to 23.1 million units in 2021, at a CAGR of 3%. The growth can be attributed to increasing infrastructure spending, rising import-export trade, and growing e-commerce activities.

Rising commercial vehicle sales have increased the demand for air suspension in recent years. Most heavy trucks, semi-trailers, and multi-axle buses in European and North American countries have air suspension as a standard feature. Volvo FH; Mercedes Actros; Freightliner Cascadia; Iveco Trakker; Eurocargo; and Kenworth C500, T440, T470, T800, and W900 are some heavy trucks models that come with standard fitment of air suspension. OEMs in China, South Korea, and India have also started offering air suspension in heavy commercial vehicles. Global suppliers such as Z.F. Friedrichshafen AG (Germany), Continental AG (Germany), and Hendrickson (U.S.) have started following various strategies to cater to the demand and strengthen their presence in this market. In some countries, the fitment of air suspension offers additional benefits to fleet owners. In India, installing air suspension in one axle would increase the vehicle carrying capacity by 1 to 2 tons. Similar benefits and upcoming regulations on cabin comfort for heavy trucks would encourage OEMs to offer air suspension in the semi-trailers segment. Thus, the increase in global commercial vehicle sales increase would boost the air suspension market in the coming years.

Restraint: High development and adoption costs

Innovations and technological advancements have played a major role in improving automotive suspension systems. The modern electronically controlled air suspension system offers better comfort and convenience. However, this technology has also increased the complexities of vehicles. System designing, prototyping, and production require huge investment, which increases costs and requires a lot of time. Hence, very few manufacturers invest in R&D for developing advanced technology. This Increased complexity due to the additional number of sensors, solenoid valves, and electronic control units increases the price of the air suspension system. Incorporating air suspension in existing vehicle models requires major design modification, further adding to the cost. In developed regions such as Europe and North America, the adoption of advanced technologies and high demand for premium vehicles drive the market. However, cost-sensitive countries of Asia Oceania and Rest of the World have the maximum share of economy segment cars. Thus, consumers in these countries are unwilling to pay for expensive technology. Thus, the high cost of air suspension systems prevents OEMs from offering such a system in mid-segment cars, especially in developing countries. This might adversely affect the growth of the air suspension market.

Opportunities: Increasing demand for lightweight air suspension systems

The trend of lightweight vehicles has helped OEMs to reduce CO2 emissions and improve fuel efficiency. A major step towards achieving this goal is reducing the fuel consumption of vehicles fitted with air suspension systems. The chassis and suspension system constitute 22%–27% of the weight of a light-duty vehicle, including the suspension, steering, and brakes, as well as the tires and wheels. Conventional suspension systems are usually heavy, increasing vehicle weight and fuel consumption. Suspension manufacturers are constantly working to find the right mix of material composition to reduce the weight of the chassis and components without affecting their performance. Kenworth Truck Company (U.S.) managed to reduce the weight of the suspension system by 400 pounds by using an air ride suspension system. SAF Holland S.E. has introduced a lightweight CBX23 AeroBeam fixed frame air suspension, which provides an optimal balance of strength and weight for enhanced performance in heavy trucks. Air spring made up of textile reinforced rubber reduces the weight of the suspension systems. This would prompt other players to develop lightweight air suspension systems and related components to tap new business opportunities in the coming years.

Challenges: Presence of local suppliers

Established players such as Z.F. Friedrichshafen AG (Germany), Continental AG (Germany), Thyssenkrupp AG (Germany), Hendrickson (U.S.), and Firestone Industrial Products LLC (U.S.) offer a wide range of air suspensions and other components in the O.E. market. These companies also provide after-sales services for vehicles. Consumers prefer to install air suspension in the aftermarket. With the increasing passenger vehicle and heavy vehicle parc, the market opportunities for air suspension would also increase subsequently. In addition to the established players, some local and regional players such as Air Lift Company (U.S.), Arnott, RideTech (U.S.), and Gibraltar Airsprings (India) offer air suspension components in the aftermarket for passenger cars, heavy trucks, and buses. These companies are mainly focusing on the customized air suspension market, which hampers developed companies' market growth. Prominent players face stiff competition in the local market, and in the coming years, the rising adoption of air suspension will propel the replacement and retrofit demand. This results in intense competition for established companies and may adversely affect the growth of the market.

Electrictronically controlled air suspension systems to grow at the fastest pace.

North America leads the electronically controlled system because of the higher adoption rate for technologically advanced systems. Audi A8, Mercedes S-Class, Porsche Cayenne, Land Rover Discovery, and Volkswagen Touareg are some of the passenger vehicle models with electronically controlled systems as a standard fitment in their selected trims. The adoption rate in Europe for Trucks and buses stood at nearly 40-50% and 55-60%, respectively, in 2022. Volvo, Daimler AG, Scania, and MAN offer electronically controlled systems in trucks and buses for the European market.

The trucks segment is expected to be the largest market of the air suspension market by vehicle type

The trucks segment will hold the largest share of the air suspension market as the demand for improved ride quality in special purpose applications such as refrigerated trucks and fragile goods transport has increased globally. Countries in Asia, such as China and India, have huge economic activities. These activities have driven the demand for this region's commercial vehicles, including trucks. Improved environmental regulations and higher demand for improved ride quality prompted OEMs to introduce the air suspension system in their models for the region. Hence, Asia Pacific would hold the largest market share of the market for the Trucks segment. Increased economic activities in the Rest of the World countries, such as Brazil and South Africa, would drive demand for air suspension systems.

Asia Pacific region to dominate the global air suspension market

Asia Pacific holds a large share of global market in Trucks and Buses segment with approximately over 55% of market share. As the pandemic effect withers off from the automotive sector in this region the commercial vehicle production has picked up pace and is estimated to grow at a rate of ~3.5% in the next 5 years. Sales of luxury vehicles and premium SUVs has increased in this region due to the increased spending power of the people in this economy. The customers of premium vehicle segments demand high quality ride experience from their vehicles, prompting OEMs to increase the adoption of air suspension systems in their products. Air suspension system demand is restricted to premium segment in the passenger car segment and in trucks and buses in commercial vehicle segment.

China, India, Japan, and South Korea hold majority of the share in this region for vehicle ownership hence they influence the market. China is estimated to remain the largest market within the region, owing to its large population and increased demand for passenger vehicles post-pandemic. The country has resumed production close to pre-pandemic levels. By value, India is expected to be the fasted-growing market due to the increased demand for passenger vehicles as the country's economy recovers from the effects of the pandemic. India also has a wide public transport system concentrated in populous cities. Passengers in cities demand comfortable ride experience which is likely to drive the air suspension market in India. Passenger car customers in Japan and South Korea have started to demand better ride quality in their cars hence adoption rate of air suspensions has increased in these countries as well. Factors driving demand in these countries will make Asia Pacific a dominating market globally for the air suspension systems.

Asia Pacific: Automotive Suspension Market

Air Suspension Market Size, and Share

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Key Market Players

The air suspension market is dominated by global players and comprises several regional players as well. The key players in the market are ZF Friedrichshafen AG (Germany), Continental AG (Germany), ThyssenKrupp AG (Germany), Meritor Inc. (US), and SAF Holland (Germany).

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Scope of the Report

Report Metric

Details

Base Year for Estimation

2021

Forecast Period

2022–2027

Market Growth and Revenue Forecast

USD (Million/Billion)

Top Players

  • ZF Friedrichshafen AG (Germany)
  • Continental AG (Germany)
  • ThyssenKrupp AG (Germany)
  • Meritor Inc. (US)
  • SAF Holland (Germany)

Fastest Growing Market

Electronically controlled air suspension

Largest Market

Asia Pacific

Segments Covered

By Vehicle Type

Passenger cars, LCVs, Trucks, Buses

By Technology

Electronically Controlled, Non-Electronically Controlled

By OE Component

Air Springs, Shock Absorbers, Compressors, Electronic Control Units, Air Reservoirs, Height Sensors, Solenoid Valves, And Pressure Sensors

By Aftermarket components

Air Bellows & Shock Absorber Bushes

Cabin Air Suspension Market

Rigid Trucks & Semi Trailers

Electric & Hybrid HDVs Air Suspension Market, By Region

Asia Pacific, Europe, North America and Rest of the World

By Region

Asia Pacific – China, India, Japan, South Korea, Rest of Asia Pacific
Europe – Germany, France, Spain, UK, Russia, Italy, Rest of Europe
North America – US, Mexico, Canada
RoW - Brazil, South Africa, Rest of RoW

Additional Customization to be offered

  • Air suspension market by vehicle type and technology (LDVs, Trucks, Buses)
  • Air suspension component market, by vehicle type (LDVs, Trucks, Buses)
  • Detailed analysis and profiling of additional market players (upto 3)

Available Customizations

With the given market data, MarketsandMarkets offers customizations in accordance with the company’s specific needs.

Air Suspension Market, By Vehicle Type & Technology

  • Light Duty Vehicles
  • Trucks
  • Buses

Note: The market of Electronically Controlled vs. Non-electronically Controlled Air Suspension can be provided for each mentioned vehicle type in terms of volume, and value

Air Suspension Component Market, By Vehicle Type

  • Light Duty Vehicles
  • Trucks
  • Buses

Note: The market of each considered component in the study can be provided for each mentioned vehicle type in terms of volume, and value

Detailed Analysis and Profiling of Additional Market Players (Upto 3)

Recent Developments

  • In June 2022, Meritor, Inc. launched ProTec Independent Front Suspension (IFS) for motorcoach applications. The new IFS MIS-20E is the first suspension specifically designed for the ride quality and heavy load requirements of motor coaches. This product is the company's first fully integrated suspension and steering system to be a drop-in replacement for bus and coach manufacturers.
  • In October 2021, Continental AG now offers the automotive aftermarket the same air suspension vibration dampers and compressors that it supplies to vehicle manufacturers. This means that workshops can now use new parts that are installed as standard when repairing such systems.
  • In March 2021, ThyssenKrupp planned to expand its presence in China. The new damper production line in China is being built at an existing ThyssenKrupp automotive site in Changzhou. The plant will produce electronically adjustable damping systems. These semi-active dampers use sensors to measure vibrations throughout the journey and recognize the driving situation and condition of the vehicle
  • In August 2020, Z.F. Commercial Vehicle Control Systems division in India designed air suspension with Electronically Controlled Air Suspension (ECAS) technology to address issues including higher fuel consumption, decreased rider comfort, passenger safety, and vehicular instability.
  • In September 2020, Continental AG developed sensors for vehicles with air suspension, which uses ultrasound to measure the height and pressure of air springs in order to determine the axle's load condition. A height sensor also has been developed for shock absorbers for vehicles without air suspension. The suspension travel of the shock absorber provides information on the load condition of the respective axle.
  • In January 2019, Tenneco Inc. completed its acquisition of Φhlins Racing A.B, a Swedish technology company that develops premium suspension systems and components for the automotive and motorsport industries.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 24)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION
    1.3 INCLUSIONS AND EXCLUSIONS
           TABLE 1 INCLUSIONS AND EXCLUSIONS FOR AIR SUSPENSION MARKET
    1.4 MARKET SCOPE
           1.4.1 MARKETS COVERED
                    FIGURE 1 AIR SUSPENSION MARKET SEGMENTATION
           1.4.2 YEARS CONSIDERED
    1.5 CURRENCY CONSIDERED
    1.6 PACKAGE SIZE
    1.7 LIMITATIONS
    1.8 STAKEHOLDERS
    1.9 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 29)
    2.1 RESEARCH DATA
           FIGURE 2 AIR SUSPENSION MARKET: RESEARCH DESIGN
           FIGURE 3 RESEARCH DESIGN MODEL
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of key secondary sources to estimate vehicle production
                    2.1.1.2 List of key secondary sources to estimate air suspension market sizing
                    2.1.1.3 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS
                    2.1.2.1 Sampling techniques and data collection methods
                    2.1.2.2 Primary participants
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 5 BOTTOM-UP APPROACH: AIR SUSPENSION MARKET, BY VEHICLE TYPE
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 6 DATA TRIANGULATION
    2.4 ASSUMPTIONS

3 EXECUTIVE SUMMARY (Page No. - 39)
    3.1 REPORT SUMMARY
           FIGURE 7 REPORT SUMMARY
           FIGURE 8 AIR SUSPENSION MARKET, BY REGION, 2022 VS. 2027 (USD MILLION)

4 PREMIUM INSIGHTS (Page No. - 41)
    4.1 ATTRACTIVE OPPORTUNITIES IN AIR SUSPENSION MARKET
           FIGURE 9 DEMAND FOR LUXURY AND COMFORT FEATURES AND GROWING PREMIUM VEHICLE SALES BRINGS ATTRACTIVE OPPORTUNITIES IN MARKET
    4.2 MARKET, BY TECHNOLOGY
           FIGURE 10 ELECTRONICALLY CONTROLLED SEGMENT TO BE FASTEST-GROWING MARKET, 2022 VS. 2027 (USD MILLION)
    4.3 MARKET, BY VEHICLE TYPE
           FIGURE 11 TRUCKS SEGMENT EXPECTED TO LEAD MARKET, BY VEHICLE TYPE, 2022 VS. 2027 (USD MILLION)
    4.4 MARKET, BY COMPONENT
           FIGURE 12 AIR SPRINGS TO HOLD LARGEST MARKET SHARE, 2022 VS. 2027 (USD MILLION)
    4.5 CABIN AIR SUSPENSION MARKET, BY VEHICLE TYPE
           FIGURE 13 SEMI TRAILERS TO BE LARGEST MARKET DURING FORECAST PERIOD, 2022 VS. 2027 (USD MILLION)
    4.6 AIR SUSPENSION AFTERMARKET, BY COMPONENT
           FIGURE 14 AIR BELLOWS TO BE LARGEST MARKET IN AFTERMARKET, BY COMPONENT, 2022 VS. 2027 (USD MILLION)
    4.7 ELECTRIC AND HYBRID HDVS AIR SUSPENSION MARKET, BY VEHICLE TYPE AND REGION
           FIGURE 15 ELECTRIC AND HYBRID BUSES TO SHOWCASE LARGEST DEMAND DURING FORECAST PERIOD (USD MILLION)
    4.8 AIR SUSPENSION MARKET, BY REGION
           FIGURE 16 ASIA PACIFIC TO HAVE LARGEST SHARE DURING FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 45)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 17 AIR SUSPENSION MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Rising global commercial vehicle sales
                               FIGURE 18 COMMERCIAL VEHICLE SALES, BY REGION, 2019–2021 (‘000 UNITS)
                    5.2.1.2 Growing demand for premium and luxury vehicles
                               FIGURE 19 LUXURY PASSENGER CARS PRODUCTION, 2018–2021 (MILLION UNITS)
                               TABLE 2 KEY OEMS PREMIUM CARS SALES, 2020 VS. 2021 (UNITS)
                               TABLE 3 KEY PASSENGER CAR MODELS EMPLOYED WITH AIR SUSPENSIONS AND THEIR PRODUCTION, 2021 (UNITS)
           5.2.2 RESTRAINTS
                    5.2.2.1 High development and adoption costs
                               TABLE 4 AVERAGE COST OF DIFFERENT SUSPENSION TECHNOLOGIES, BY VEHICLE TYPE, 2021
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing demand for lightweight air suspension systems
                               TABLE 5 WEIGHT REDUCTION TARGETS FOR SYSTEMS OF LIGHT-DUTY INTERNAL COMBUSTION ENGINE VEHICLES (2020–2050) IN US
                    5.2.3.2 Increasing aftermarket demand for air suspensions and related components
                               FIGURE 20 AIR SUSPENSION AFTERMARKET, BY COMPONENT, 2022 VS. 2027 (USD MILLION)
           5.2.4 CHALLENGES
                    5.2.4.1 Presence of local suppliers
    5.3 AIR SUSPENSION MARKET SCENARIO
           FIGURE 21 MARKET SCENARIO, 2018–2027 (USD MILLION)
           5.3.1 MOST LIKELY SCENARIO
                    TABLE 6 MARKET (REALISTIC SCENARIO), BY REGION, 2018–2021 (USD MILLION)
                    TABLE 7 MARKET (REALISTIC SCENARIO), BY REGION, 2022–2027 (USD MILLION)
           5.3.2 LOW IMPACT SCENARIO
                    TABLE 8 MARKET (LOW IMPACT SCENARIO), BY REGION, 2018–2021 (USD MILLION)
                    TABLE 9 MARKET (LOW IMPACT SCENARIO), BY REGION, 2022–2027 (USD MILLION)
           5.3.3 HIGH IMPACT SCENARIO
                    TABLE 10 MARKET (HIGH IMPACT SCENARIO), BY REGION, 2018–2021 (USD MILLION)
                    TABLE 11 MARKET (HIGH IMPACT SCENARIO), BY REGION, 2022–2027 (USD MILLION)
    5.4 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 22 PORTER’S FIVE FORCES ANALYSIS: PRESENCE OF ESTABLISHED GLOBAL PLAYERS INCREASES COMPETITION
           TABLE 12 PORTERS FIVE FORCES ANALYSIS
           5.4.1 THREAT OF SUBSTITUTES
           5.4.2 THREAT OF NEW ENTRANTS
           5.4.3 BARGAINING POWER OF BUYERS
           5.4.4 BARGAINING POWER OF SUPPLIERS
           5.4.5 INTENSITY OF COMPETITIVE RIVALRY
    5.5 AIR SUSPENSION MARKET ECOSYSTEM
           TABLE 13 MARKET: ROLE OF COMPANIES IN ECOSYSTEM
    5.6 SUPPLY CHAIN ANALYSIS
           5.6.1 GLOBAL SUPPLIERS
                    FIGURE 23 SUPPLY CHAIN ANALYSIS: AIR SUSPENSION MARKET
    5.7 PRICING ANALYSIS
           5.7.1 LIGHT DUTY VEHICLES
                    TABLE 14 AVERAGE REGIONAL PRICE TREND: LIGHT-DUTY VEHICLE AIR SUSPENSION (USD/UNIT), 2021
           5.7.2 TRUCKS
                    TABLE 15 AVERAGE REGIONAL PRICE TREND: TRUCK AIR SUSPENSION (USD/UNIT), 2021
           5.7.3 PRICING ANALYSIS, BY COMPONENTS
                    TABLE 16 AVERAGE REGIONAL PRICE TREND: AIR SUSPENSION COMPONENT OE COSTS PER VEHICLE, 2021
    5.8 CUSTOMER BUYING BEHAVIOR
           5.8.1 BUYING CRITERIA
                    FIGURE 24 KEY BUYING CRITERIA FOR ON-HIGHWAY VEHICLE APPLICATIONS
                    TABLE 17 KEY BUYING CRITERIA FOR ON-HIGHWAY VEHICLE APPLICATIONS
                    TABLE 18 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR ON-HIGHWAY VEHICLE APPLICATIONS (%)
    5.9 PATENT ANALYSIS
           TABLE 19 APPLICATIONS AND PATENTS GRANTED, 2019–2022
    5.10 CASE STUDY ANALYSIS
           5.10.1 HENDRICKSON TRAILER COMMERCIAL VEHICLE SYSTEMS
           5.10.2 LINK AND VOLVO COLLABORATED ON TRAILER COMMERCIAL VEHICLE SYSTEMS
    5.11 TRADE ANALYSIS
           5.11.1 AIR SUSPENSION SYSTEMS AND PARTS IMPORT DATA, BY COUNTRY, 2021 (USD)
                    TABLE 20 IMPORT TRADE DATA, BY COUNTRY, 2021
           5.11.2 AIR SUSPENSION SYSTEMS AND PARTS EXPORT DATA, BY COUNTRY, 2021 (USD)
                    TABLE 21 EXPORT TRADE DATA, BY COUNTRY, 2021
    5.12 REGULATORY ANALYSIS
                    TABLE 22 SAFETY REGULATIONS, BY COUNTRY/REGION
    5.13 KEY CONFERENCES AND EVENTS IN 2022–2023
                    TABLE 23 AIR SUSPENSION MARKET: DETAILED LIST OF CONFERENCES AND EVENTS

6 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 70)
    6.1 ASIA PACIFIC TO LEAD AIR SUSPENSION MARKET
    6.2 GROWING DEMAND FOR ELECTRONICALLY CONTROLLED AIR SUSPENSION TO BE KEY FOCUS AREA
    6.3 CONCLUSION

7 AIR SUSPENSION MARKET, BY VEHICLE TYPE (Page No. - 72)
    7.1 INTRODUCTION
           7.1.1 RESEARCH METHODOLOGY
           7.1.2 ASSUMPTIONS
           7.1.3 INDUSTRY INSIGHTS
                    FIGURE 25 AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2022 VS. 2027 (USD MILLION)
                    TABLE 24 MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                    TABLE 25 MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                    TABLE 26 MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                    TABLE 27 MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
    7.2 PASSENGER CARS
           7.2.1 INCREASING DEMAND FOR IMPROVED RIDE QUALITY TO DRIVE SEGMENT
                    TABLE 28 PASSENGER CARS: AIR SUSPENSION MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 29 PASSENGER CARS: MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 30 PASSENGER CARS: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 31 PASSENGER CARS: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.3 LIGHT COMMERCIAL VEHICLES
           7.3.1 NORTH AMERICA TO LEAD SEGMENT
                    TABLE 32 LCVS: AIR SUSPENSION MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 33 LCVS: MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 34 LCVS: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 35 LCVS: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.4 TRUCKS
           7.4.1 ASIA PACIFIC TO LEAD TRUCKS AIR SUSPENSION MARKET
                    TABLE 36 TRUCKS: MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 37 TRUCKS: MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 38 TRUCKS: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 39 TRUCKS: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.5 BUSES
           7.5.1 ASIA PACIFIC TO ACQUIRE LARGEST MARKET SHARE
                    TABLE 40 BUSES: AIR SUSPENSION MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 41 BUSES: MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 42 BUSES: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 43 BUSES: MARKET, BY REGION, 2022–2027 (USD MILLION)

8 AIR SUSPENSION MARKET, BY TECHNOLOGY (Page No. - 83)
    8.1 INTRODUCTION
           8.1.1 RESEARCH METHODOLOGY
           8.1.2 ASSUMPTIONS
           8.1.3 INDUSTRY INSIGHTS
                    FIGURE 26 AIR SUSPENSION MARKET, BY TECHNOLOGY, 2022–2027 (USD MILLION)
                    TABLE 44 MARKET, BY TECHNOLOGY, 2018–2021 (THOUSAND UNITS)
                    TABLE 45 MARKET, BY TECHNOLOGY, 2022–2027 (THOUSAND UNITS)
                    TABLE 46 MARKET, BY TECHNOLOGY, 2018–2021 (USD MILLION)
                    TABLE 47 MARKET, BY TECHNOLOGY, 2022–2027 (USD MILLION)
    8.2 ELECTRONICALLY CONTROLLED
           8.2.1 EUROPE TO BE LARGEST MARKET FOR ELECTRONICALLY CONTROLLED AIR SUSPENSION SYSTEMS
                    TABLE 48 ELECTRONICALLY CONTROLLED AIR SUSPENSION MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 49 ELECTRONICALLY CONTROLLED MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 50 ELECTRONICALLY CONTROLLED MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 51 ELECTRONICALLY CONTROLLED MARKET, BY REGION, 2022–2027 (USD MILLION)
    8.3 NON-ELECTRONICALLY CONTROLLED
           8.3.1 LOW COSTS AND MAINTENANCE TO CREATE POTENTIAL SEGMENT
                    TABLE 52 NON- ELECTRONICALLY CONTROLLED MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 53 NON- ELECTRONICALLY CONTROLLED MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 54 NON- ELECTRONICALLY CONTROLLED MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 55 NON- ELECTRONICALLY CONTROLLED MARKET, BY REGION, 2022–2027 (USD MILLION)

9 AIR SUSPENSION OE MARKET, BY COMPONENT (Page No. - 90)
    9.1 INTRODUCTION
           9.1.1 RESEARCH METHODOLOGY
           9.1.2 ASSUMPTIONS
           9.1.3 INDUSTRY INSIGHTS
                    FIGURE 27 AIR SUSPENSION MARKET, BY COMPONENT, 2022 VS. 2027 (USD MILLION)
                    TABLE 56 AIR SUSPENSION OE MARKET, BY COMPONENT, 2018–2021 (THOUSAND UNITS)
                    TABLE 57 AIR SUSPENSION OE MARKET, BY COMPONENT, 2022–2027 (THOUSAND UNITS)
                    TABLE 58 AIR SUSPENSION OE MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
                    TABLE 59 AIR SUSPENSION OE MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
    9.2 AIR SPRINGS
           9.2.1 GROWTH WITH INCREASING DEMAND FOR AIR SUSPENSIONS
                    TABLE 60 AIR SPRINGS MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 61 AIR SPRINGS MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 62 AIR SPRINGS MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 63 AIR SPRINGS MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.3 SHOCK ABSORBERS
           9.3.1 ASIA PACIFIC LEADS SEGMENT
                    TABLE 64 SHOCK ABSORBERS MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 65 SHOCK ABSORBERS MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 66 SHOCK ABSORBERS MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 67 SHOCK ABSORBERS MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.4 AIR COMPRESSORS
           9.4.1 INCREASING DEMAND FOR IN LIGHT DUTY VEHICLES TO AID SEGMENT GROWTH
                    TABLE 68 AIR COMPRESSORS MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 69 AIR COMPRESSORS MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 70 AIR COMPRESSORS MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 71 AIR COMPRESSORS MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.5 ELECTRONIC CONTROL UNITS
           9.5.1 DEMAND FOR ELECTRONICALLY CONTROLLED AIR SUSPENSION TO DRIVE SEGMENT
                    TABLE 72 AIR SUSPENSION ECU MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 73 AIR SUSPENSION ECU MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 74 AIR SUSPENSION ECU MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 75 AIR SUSPENSION ECU MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.6 AIR RESERVOIRS
           9.6.1 DEMAND FOR AIR SUSPENSIONS IN HDVS TO IMPACT SEGMENT
                    TABLE 76 AIR RESERVOIRS MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 77 AIR RESERVOIRS MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 78 AIR RESERVOIR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 79 AIR RESERVOIRS MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.7 HEIGHT SENSORS
           9.7.1 DEMAND FOR COMFORT AND RIDE QUALITY TO DRIVE SEGMENT
                    TABLE 80 HEIGHT SENSORS MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 81 HEIGHT SENSORS MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 82 HEIGHT SENSORS MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 83 HEIGHT SENSORS MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.8 SOLENOID VALVES
           9.8.1 RISING DEMAND FOR ELECTRONICALLY CONTROLLED AIR SUSPENSIONS TO BOOST SEGMENT
                    TABLE 84 SOLENOID VALVES MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 85 SOLENOID VALVES MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 86 SOLENOID VALVES MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 87 SOLENOID VALVES MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.9 PRESSURE SENSORS
           9.9.1 INCREASING AIR SUSPENSION DEMAND IN ASIA PACIFIC TO DRIVE SEGMENT
                    TABLE 88 PRESSURE SENSORS MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 89 PRESSURE SENSORS MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 90 PRESSURE SENSORS MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 91 PRESSURE SENSORS MARKET, BY REGION, 2022–2027 (USD MILLION)

10 AIR SUSPENSION AFTERMARKET, BY COMPONENT (Page No. - 106)
     10.1 INTRODUCTION
             10.1.1 RESEARCH METHODOLOGY
             10.1.2 ASSUMPTIONS
             10.1.3 INDUSTRY INSIGHTS
                       FIGURE 28 AIR SUSPENSION AFTERMARKET, BY COMPONENT, 2022 VS. 2027 (USD MILLION)
                       TABLE 92 AIR SUSPENSION AFTERMARKET, BY COMPONENT, 2018–2021 (‘000 UNITS)
                       TABLE 93 AIR SUSPENSION AFTERMARKET, BY COMPONENT, 2022–2027 (‘000 UNITS)
                       TABLE 94 AIR SUSPENSION AFTERMARKET, BY COMPONENT, 2018–2021 (USD MILLION)
                       TABLE 95 AIR SUSPENSION AFTERMARKET, BY COMPONENT, 2022–2027 (USD MILLION)
     10.2 AIR BELLOWS
             10.2.1 HEAVY DUTY TRUCKS TO LEAD AFTERMARKET
                       TABLE 96 AIR BELLOWS AFTERMARKET, BY REGION, 2018–2021 (‘000 UNITS)
                       TABLE 97 AIR BELLOWS AFTERMARKET, BY REGION, 2022–2027 (‘000 UNITS)
                       TABLE 98 AIR BELLOWS AFTERMARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 99 AIR BELLOWS AFTERMARKET, BY REGION, 2022–2027 (USD MILLION)
     10.3 SHOCK ABSORBER BUSHES
             10.3.1 INCREASING VEHICLES WITH AIR SUSPENSION ON ROAD TO DRIVE SEGMENT
                       TABLE 100 SHOCK ABSORBER BUSHES AFTERMARKET, BY REGION, 2018–2021 (‘000 UNITS)
                       TABLE 101 SHOCK ABSORBER BUSHES AFTERMARKET, BY REGION, 2022–2027 (‘000 UNITS)
                       TABLE 102 SHOCK ABSORBER BUSHES AFTERMARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 103 SHOCK ABSORBER BUSHES AFTERMARKET, BY REGION, 2022–2027 (USD MILLION)

11 CABIN AIR SUSPENSION MARKET, BY VEHICLE TYPE (Page No. - 114)
     11.1 INTRODUCTION
             11.1.1 RESEARCH METHODOLOGY
             11.1.2 ASSUMPTIONS
             11.1.3 INDUSTRY INSIGHTS
                       FIGURE 29 CABIN AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
                       TABLE 104 CABIN MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                       TABLE 105 CABIN MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                       TABLE 106 CABIN MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                       TABLE 107 CABIN MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
     11.2 RIGID TRUCKS
             11.2.1 ASIA PACIFIC TO HAVE LARGEST MARKET SHARE
                       TABLE 108 RIGID TRUCKS: CABIN AIR SUSPENSION MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 109 RIGID TRUCKS: CABIN MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 110 RIGID TRUCKS: CABIN MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 111 RIGID TRUCKS: CABIN MARKET, BY REGION, 2022–2027 (USD MILLION)
     11.3 SEMI TRAILERS
             11.3.1 EUROPE TO SHOWCASE MAXIMUM ADOPTION
                       TABLE 112 SEMI TRAILERS: CABIN MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 113 SEMI TRAILERS: CABIN MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 114 SEMI TRAILERS: CABIN MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 115 SEM TRAILERS: CABIN MARKET, BY REGION, 2022–2027 (USD MILLION)

12 ELECTRIC AND HYBRID HDVS AIR SUSPENSION MARKET, BY VEHICLE TYPE AND REGION (Page No. - 121)
     12.1 INTRODUCTION
             12.1.1 RESEARCH METHODOLOGY
             12.1.2 ASSUMPTIONS
                       FIGURE 30 ELECTRIC AND HYBRID HDVS AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2022 VS. 2027 (USD MILLION)
                       TABLE 116 ELECTRIC AND HYBRID HDVS MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                       TABLE 117 ELECTRIC AND HYBRID HDVS MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                       TABLE 118 ELECTRIC AND HYBRID HDVS MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                       TABLE 119 ELECTRIC & HYBRID HDVS MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
     12.2 ELECTRIC AND HYBRID TRUCKS
             12.2.1 EUROPE TO BE FASTEST-GROWING REGION
                       TABLE 120 ELECTRIC AND HYBRID TRUCKS: AIR SUSPENSION MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 121 ELECTRIC AND HYBRID TRUCKS: MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 122 ELECTRIC AND HYBRID TRUCKS: MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 123 ELECTRIC AND HYBRID TRUCKS: MARKET, BY REGION, 2022–2027 (USD MILLION)
     12.3 ELECTRIC AND HYBRID BUSES
             12.3.1 OFFERS COMFORT AND HEIGHT CONTROL FEATURES TO IMPROVE RIDE QUALITY
                       TABLE 124 ELECTRIC AND HYBRID BUSES: AIR SUSPENSION MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 125 ELECTRIC AND HYBRID BUSES: MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 126 ELECTRIC AND HYBRID BUSES: MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 127 ELECTRIC AND HYBRID BUSES: MARKET, BY REGION, 2022–2027 (USD MILLION)

13 AIR SUSPENSION MARKET, BY REGION (Page No. - 128)
     13.1 INTRODUCTION
             13.1.1 RESEARCH METHODOLOGY
             13.1.2 ASSUMPTIONS
             13.1.3 INDUSTRY INSIGHTS
                       FIGURE 31 AIR SUSPENSION MARKET, BY REGION, 2022–2027 (USD MILLION)
                       TABLE 128 MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 129 MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 130 MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 131 MARKET, BY REGION, 2022–2027 (USD MILLION)
     13.2 ASIA PACIFIC
             13.2.1 CHINA TO HOLD LARGEST SHARE AND INDIA TO BE FASTEST-GROWING MARKET
                       FIGURE 32 ASIA PACIFIC: AIR SUSPENSION MARKET SNAPSHOT
                       TABLE 132 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
                       TABLE 133 ASIA PACIFIC: MARKET, BY COUNTRY, 2022–2027 (THOUSAND UNITS)
                       TABLE 134 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
                       TABLE 135 ASIA PACIFIC: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             13.2.2 CHINA
                       13.2.2.1 Trucks segment to hold largest market share
                                   TABLE 136 CHINA: MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 137 CHINA: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 138 CHINA: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 139 CHINA: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             13.2.3 INDIA
                       13.2.3.1 Higher adoption rate of air suspensions in India
                                   TABLE 140 INDIA: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 141 INDIA: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 142 INDIA: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 143 INDIA: MARKET, BY VEHICLE TYPE, BY REGION, 2022–2027 (USD MILLION)
             13.2.4 JAPAN
                       13.2.4.1 Market driven by higher EV sales
                                   TABLE 144 JAPAN: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 145 JAPAN: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 146 JAPAN: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 147 JAPAN: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             13.2.5 SOUTH KOREA
                       13.2.5.1 Higher sales of trucks to lead market
                                   TABLE 148 SOUTH KOREA: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 149 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 150 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 151 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             13.2.6 REST OF ASIA PACIFIC
                       13.2.6.1 Buses to be fastest-growing segment in region
                                   TABLE 152 REST OF ASIA PACIFIC: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 153 REST OF ASIA PACIFIC: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 154 REST OF ASIA PACIFIC: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 155 REST OF ASIA PACIFIC: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
     13.3 EUROPE
             13.3.1 GERMANY TO BE FASTEST-GROWING MARKET IN EUROPE
                       FIGURE 33 EUROPE: AIR SUSPENSION MARKET, 2022 VS. 2027 (USD MILLION)
                       TABLE 156 EUROPE: MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
                       TABLE 157 EUROPE: MARKET, BY COUNTRY, 2022–2027 (THOUSAND UNITS)
                       TABLE 158 EUROPE: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
                       TABLE 159 EUROPE: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             13.3.2 GERMANY
                       13.3.2.1 Passenger cars segment to be fastest growing in Germany
                                   TABLE 160 GERMANY: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 161 GERMANY: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 162 GERMANY: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 163 GERMANY: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             13.3.3 FRANCE
                       13.3.3.1 Luxury segment to have higher demand for air suspensions
                                   TABLE 164 FRANCE: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 165 FRANCE: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 166 FRANCE: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 167 FRANCE: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             13.3.4 SPAIN
                       13.3.4.1 Higher technological adoption due to economic activities
                                   TABLE 168 SPAIN: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 169 SPAIN: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 170 SPAIN: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 171 SPAIN: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             13.3.5 ITALY
                       13.3.5.1 Passenger cars to drive air suspension demand
                                   TABLE 172 ITALY: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 173 ITALY: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 174 ITALY: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 175 ITALY: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             13.3.6 UK
                       13.3.6.1 LCVs to be fastest-growing market in UK
                                   TABLE 176 UK: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 177 UK: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 178 UK: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 179 UK: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             13.3.7 RUSSIA
                       13.3.7.1 Increased infrastructure activities to drive market
                                   TABLE 180 RUSSIA: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 181 RUSSIA: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 182 RUSSIA: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 183 RUSSIA: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             13.3.8 REST OF EUROPE
                       13.3.8.1 Trucks to hold largest share
                                   TABLE 184 REST OF EUROPE: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 185 REST OF EUROPE: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 186 REST OF EUROPE: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 187 REST OF EUROPE: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
     13.4 NORTH AMERICA
             13.4.1 US AND CANADA TO DOMINATE REGIONAL MARKET
                       FIGURE 34 NORTH AMERICA: AIR SUSPENSION MARKET SNAPSHOT
                       TABLE 188 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
                       TABLE 189 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2027 (THOUSAND UNITS)
                       TABLE 190 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
                       TABLE 191 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             13.4.2 US
                       13.4.2.1 Passenger cars to hold largest market share
                                   TABLE 192 US: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 193 US: MARKET, BY VEHICLE TYPE, BY REGION, 2022–2027 (THOUSAND UNITS)
                                   TABLE 194 US: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 195 US: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             13.4.3 CANADA
                       13.4.3.1 Passenger cars to be fastest-growing segment
                                   TABLE 196 CANADA: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 197 CANADA: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 198 CANADA: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 199 CANADA: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             13.4.4 MEXICO
                       13.4.4.1 Demand for improved ride experience
                                   TABLE 200 MEXICO: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 201 MEXICO: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 202 MEXICO: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 203 MEXICO: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
     13.5 REST OF THE WORLD
             13.5.1 BRAZIL TO BE LARGEST AND FASTEST-GROWING MARKET
                       TABLE 204 REST OF THE WORLD: AIR SUSPENSION MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
                       TABLE 205 REST OF THE WORLD: MARKET, BY COUNTRY, 2022–2027 (THOUSAND UNITS)
                       TABLE 206 REST OF THE WORLD: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
                       TABLE 207 REST OF THE WORLD: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             13.5.2 BRAZIL
                       13.5.2.1 Growth of tourism sector and luxury vehicles
                                   TABLE 208 BRAZIL: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 209 BRAZIL: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 210 BRAZIL: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 211 BRAZIL: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             13.5.3 SOUTH AFRICA
                       13.5.3.1 LCVs to be fastest-growing segment
                                   TABLE 212 SOUTH AFRICA: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 213 SOUTH AFRICA: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 214 SOUTH AFRICA: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 215 SOUTH AFRICA: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             13.5.4 REST OF THE WORLD OTHERS
                       13.5.4.1 Demand for luxury and comfort
                                   TABLE 216 REST OF THE WORLD OTHERS: AIR SUSPENSION MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 217 REST OF THE WORLD OTHERS: MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 218 REST OF THE WORLD OTHERS: MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 219 REST OF THE WORLD OTHERS: MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)

14 COMPETITIVE LANDSCAPE (Page No. - 168)
     14.1 OVERVIEW
     14.2 AIR SUSPENSION MARKET SHARE ANALYSIS, 2021
               TABLE 220 MARKET SHARE ANALYSIS FOR OE MARKET, 2021
               FIGURE 35 AIR SUSPENSION MARKET SHARE ANALYSIS, 2021
     14.3 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS
               FIGURE 36 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS, 2019–2021
     14.4 AIR SUSPENSION COMPONENT SUPPLIERS LIST, 2021
             14.4.1 AIR COMPRESSORS
                       TABLE 221 AIR COMPRESSORS SUPPLIERS LIST, 2021
             14.4.2 AIR SPRINGS
                       TABLE 222 AIR SPRINGS SUPPLIERS LIST, 2021
     14.5 COMPANY EVALUATION QUADRANT
             14.5.1 STARS
             14.5.2 EMERGING LEADERS
             14.5.3 PERVASIVE PLAYERS
             14.5.4 PARTICIPANTS
                       FIGURE 37 COMPETITIVE EVALUATION MATRIX (AIR SUSPENSION MANUFACTURERS), 2021
     14.6 COMPETITIVE SCENARIO
             14.6.1 NEW PRODUCT LAUNCHES
                       TABLE 223 PRODUCT LAUNCHES, 2020–2022
             14.6.2 DEALS
                       TABLE 224 DEALS, 2019–2022
             14.6.3 OTHER DEVELOPMENTS, 2019–2022
                       TABLE 225 OTHER DEVELOPMENTS, 2019–2022
     14.7 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2019–2022
               FIGURE 38 COMPANIES ADOPTED NEW PRODUCT DEVELOPMENTS AND EXPANSIONS AS KEY GROWTH STRATEGIES, 2019–2022
     14.8 RIGHT TO WIN
     14.9 COMPETITIVE BENCHMARKING
               TABLE 226 AIR SUSPENSION MARKET: DETAILED LIST OF KEY STARTUPS/SMES
               TABLE 227 AIR SUSPENSION MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS

15 COMPANY PROFILES (Page No. - 180)
(Business overview, Products offered, Recent developments & MnM View)*
     15.1 KEY PLAYERS
             15.1.1 ZF FRIEDRICHSHAFEN AG
                       TABLE 228 ZF FRIEDRICHSHAFEN AG: BUSINESS OVERVIEW
                       FIGURE 39 ZF FRIEDRICHSHAFEN AG: COMPANY SNAPSHOT
                       TABLE 229 ZF FRIEDRICHSHAFEN AG: PRODUCTS OFFERED
                       TABLE 230 ZF FRIEDRICHSHAFEN AG: NEW PRODUCT DEVELOPMENTS
                       TABLE 231 ZF FRIEDRICHSHAFEN AG: DEALS
                       TABLE 232 ZF FRIEDRICHSHAFEN AG: OTHER DEVELOPMENTS
             15.1.2 CONTINENTAL AG
                       TABLE 233 CONTINENTAL AG: BUSINESS OVERVIEW
                       FIGURE 40 CONTINENTAL AG: COMPANY SNAPSHOT
                       TABLE 234 CONTINENTAL AG: PRODUCTS OFFERED
                       TABLE 235 CONTINENTAL AG: NEW PRODUCT DEVELOPMENTS
                       TABLE 236 CONTINENTAL AG: OTHER DEVELOPMENTS
             15.1.3 THYSSENKRUPP AG
                       TABLE 237 THYSSENKRUPP AG: BUSINESS OVERVIEW
                       FIGURE 41 THYSSENKRUPP AG: COMPANY SNAPSHOT
                       TABLE 238 THYSSENKRUPP AG: PRODUCTS OFFERED
                       TABLE 239 THYSSENKRUPP AG: OTHER DEVELOPMENTS
             15.1.4 MERITOR, INC.
                       TABLE 240 MERITOR, INC.: BUSINESS OVERVIEW
                       FIGURE 42 MERITOR, INC.: COMPANY SNAPSHOT
                       TABLE 241 MERITOR, INC.: PRODUCTS OFFERED
                       TABLE 242 MERITOR, INC.: NEW PRODUCT DEVELOPMENTS
                       TABLE 243 MERITOR, INC.: DEALS
             15.1.5 SAF HOLLAND SE
                       TABLE 244 SAF HOLLAND SE: BUSINESS OVERVIEW
                       FIGURE 43 SAF HOLLAND SE: COMPANY SNAPSHOT
                       TABLE 245 SAF HOLLAND SE: PRODUCTS OFFERED
                       TABLE 246 SAF HOLLAND SE: DEALS
                       TABLE 247 SAF HOLLAND SE: OTHER DEVELOPMENTS
             15.1.6 HENDRICKSON
                       TABLE 248 HENDRICKSON: BUSINESS OVERVIEW
                       TABLE 249 HENDRICKSON: PRODUCTS OFFERED
                       TABLE 250 HENDRICKSON: NEW PRODUCT DEVELOPMENTS
                       TABLE 251 HENDRICKSON: OTHER DEVELOPMENTS
             15.1.7 FIRESTONE INDUSTRIAL PRODUCTS COMPANY, LLC
                       TABLE 252 FIRESTONE INDUSTRIAL PRODUCTS COMPANY, LLC: BUSINESS OVERVIEW
                       TABLE 253 FIRESTONE INDUSTRIAL PRODUCTS COMPANY, LLC: PRODUCTS OFFERED
                       TABLE 254 FIRESTONE INDUSTRIAL PRODUCTS COMPANY, LLC: OTHER DEVELOPMENTS
             15.1.8 VIBRACOUSTIC SE
                       TABLE 255 VIBRACOUSTIC SE: BUSINESS OVERVIEW
                       TABLE 256 VIBRACOUSTIC SE: PRODUCTS OFFERED
                       TABLE 257 VIBRACOUSTIC SE: DEALS
             15.1.9 MANDO CORPORATION
                       TABLE 258 MANDO CORPORATION: BUSINESS OVERVIEW
                       FIGURE 44 MANDO CORPORATION: COMPANY SNAPSHOT
                       TABLE 259 MANDO CORPORATION: PRODUCTS OFFERED
             15.1.10 BWI GROUP
                        TABLE 260 BWI GROUP: BUSINESS OVERVIEW
                        TABLE 261 BWI GROUP: PRODUCTS OFFERED
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
     15.2 OTHER KEY PLAYERS
             15.2.1 ARNOTT INC.
                       TABLE 262 ARNOTT INC.: BUSINESS OVERVIEW
             15.2.2 BILSTEIN
                       TABLE 263 BILSTEIN: BUSINESS OVERVIEW
             15.2.3 AIR LIFT COMPANY
                       TABLE 264 AIR LIFT COMPANY: BUSINESS OVERVIEW
             15.2.4 INFINITY ENGINEERED PRODUCTS
                       TABLE 265 INFINITY ENGINEERED PRODUCTS: BUSINESS OVERVIEW
             15.2.5 DUNLOP
                       TABLE 266 DUNLOP: BUSINESS OVERVIEW
             15.2.6 VB-AIRSUSPENSION
                       TABLE 267 VB-AIRSUSPENSION: BUSINESS OVERVIEW
             15.2.7 LINK
                       TABLE 268 LINK: BUSINESS OVERVIEW
             15.2.8 UNIVERSAL AIR SUSPENSION
                       TABLE 269 UNIVERSAL AIR SUSPENSION: BUSINESS OVERVIEW
             15.2.9 LIFTMATIC
                       TABLE 270 LIFTMATIC: BUSINESS OVERVIEW
             15.2.10 STEMCO
                       TABLE 271 STEMCO: BUSINESS OVERVIEW
             15.2.11 SHANGHAI KOMMAN
                       TABLE 272 SHANGHAI KOMMAN: BUSINESS OVERVIEW
             15.2.12 JAMNA AUTO
                       TABLE 273 JAMNA AUTO: BUSINESS OVERVIEW

16 APPENDIX (Page No. - 210)
     16.1 INSIGHTS FROM INDUSTRY EXPERTS
     16.2 DISCUSSION GUIDE
     16.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     16.4 CUSTOMIZATION OPTIONS
             16.4.1 AIR SUSPENSION MARKET, BY VEHICLE TYPE & TECHNOLOGY
                       16.4.1.1 Light Duty Vehicles
                       16.4.1.2 Trucks
                       16.4.1.3 Buses
             16.4.2 AIR SUSPENSION COMPONENT MARKET, BY VEHICLE TYPE
                       16.4.2.1 Light Duty Vehicles
                       16.4.2.2 Trucks
                       16.4.2.3 Buses
             16.4.3 DETAILED ANALYSIS AND PROFILING OF ADDITIONAL MARKET PLAYERS (UP TO 3)
     16.5 RELATED REPORTS
     16.6 AUTHOR DETAILS

The study involves four main activities to estimate the current size of the air suspension market. Exhaustive secondary research was done to collect information on the market, such as air suspension type and usage of suspension type in automotive applications. The next step was to validate these findings, assumptions, and market analysis with industry experts across value chains through primary research. Bottom-up and top-down approaches were employed to estimate the complete market size for different segments considered under this study. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to in this research study include Organisation Internationale des Constructeurs d'Automobiles (OICA); Consumer Specialty Products Association; SAE International; corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and automotive associations. The secondary data was collected and analyzed to arrive at the overall market size, which is further validated by primary research. Trade websites and technical articles have been used to identify and collect information useful for an extensive commercial study of the air suspension market.

Primary Research

Extensive primary research was conducted after acquiring an understanding of the air suspension market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand- (vehicle manufacturers) and supply-side (air suspension manufacturers, component manufacturers, and others) players across three major regions, namely, North America, Europe, and Asia Pacific. Approximately 70% and 30% of the primary interviews were conducted from the supply and demand sides, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews. Various departments within organizations, including sales, operations, and administration strived, to provide a holistic viewpoint in reports while canvassing primaries.

After interacting with industry participants, some brief sessions were conducted with experienced independent consultants to reinforce the findings from the primaries. This, along with the opinions of in-house subject matter experts, has led to the findings delineated in the rest of this report:

Air Suspension Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

A detailed market estimation approach was followed to estimate and validate the value and volume of the air suspension market and other dependent submarkets, as mentioned below:

  • Key players in the air suspension market were identified through secondary research, and their global market shares were determined through primary and secondary research.
  • The research methodology included the study of annual and quarterly financial reports and regulatory filings of major market players (public) as well as interviews with industry experts for detailed market insights.
  • All industry-level penetration rates, percentage shares, splits, and breakdowns for the air suspension market were determined using secondary sources and verified through primary sources.
  • All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative and qualitative data.
  • The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.

Air Suspension Market Size: Bottom-Up Approach, by Vehicle Type

Air Suspension Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Automotive Suspension Market Size: Bottom-Up Approach by Technology

Air Suspension Market Size, and Share

Air Suspension Market Size: Bottom Approach Cabin Air Suspension by Vehicle Type

Air Suspension Market Size, and Share

Data Triangulation

After arriving at the overall market size of the global market through the above-mentioned methodology, this market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact data for the market by value for the key segments and subsegments. The extrapolated market data was triangulated by studying various macro indicators and regional trends from both the demand- and supply-side participants.

Report Objectives

  • To define, describe, and forecast the air suspension market in terms of volume (units) and value (USD million)
    • OE Market By Component (air springs, shock absorbers, compressors, electronic control units, air reservoirs, height sensors, solenoid valves, and pressure sensors)
    • By Technology (electronically controlled and non-electronically controlled)
    • By Vehicle Type (passenger cars, LCVs, trucks, and buses)
    • Cabin Air Suspension Market, By Vehicle Type (rigid trucks and semi trailers)
    • Aftermarket, By Component (air bellows and shock absorber bushes)
    • Electric & Hybrid HDVs Air Suspension Market, By Region (Asia Pacific, Europe, North America)
    • By Region (Asia Pacific, Europe, North America, and Rest of the World)
  • To understand the market dynamics (drivers, restraints, opportunities, and challenges) of the air suspension market
  • To analyze the market share analysis of key players operating in the air suspension market
  • To analyze the competitive landscape and company profiles of global players operating in the air suspension market
  • To understand the dynamics of competitors and distinguish them into stars, emerging leaders, pervasive players, and emerging companies according to the strength of their product portfolio and business strategies
  • To strategically analyze the market with patent analysis, trade analysis, and supply chain analysis.
  • To analyze and understand the customer buying behavior in the air suspension market
  • To analyze recent developments, alliances, joint ventures, mergers & acquisitions, new product launches, and other activities carried out by key industry participants in the air suspension market
Air Suspension Market Size,  Share & Growth Report
Report Code
AT 4470
Published ON
Aug, 2022
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