Air Suspension Systems Market

Air Suspension Systems Market: Enhancements in Comfort Features and Ride Quality of HCVs to Drive Revenue Growth in the Coming Decade: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2028

  • 2018-07-18
  • REP-GB-2857
  • 254 pages
  • Format: PDF/PPT/Excel

An Incisive, In-depth Analysis on the Air Suspension Systems Market

This study offers a comprehensive, 360 degree analysis on the Air Suspension Systems market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Air Suspension Systems market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Air suspension systems came into existence in the early 1900s. Since then various technological improvements and increasing penetration have led to widespread adoption of this suspension technology. Further, air suspension systems are a type of suspension system that support the vehicle on the axles with the inclusion of air springs (air bags) as an alternative for steel springs or conventional leaf springs.  Air suspension systems can increase the ability to transport loads by levelling the suspension. Additionally, they also reduce noise and vibration.  Furthermore, in the market, integrated type of air suspension systems are being utilized in automotive owing to various cost related advantages. An air suspension system basically includes shock absorbers, air springs (ranging from 1 to 4), beam assembly, axle, brake system (excluded in the study), frame bracket, bushings and other mountings.

Air suspension systems are predominantly sold by OEMs by integrating the system in the vehicle. The global air suspension systems market is estimated to have been valued at US$ 4,370.5 Mn at the end of 2017 and is expected to expanding at a CAGR of 7.0% over the forecast period.

Drivers and Trends

Growing e-commerce, global trade and urbanization are some of the trends impacting the supply chain logistics in the Air Suspension Systems market. Intercontinental trade between European, Asian and North American countries will strengthen the replacement and sales of new heavy and light trucks.  Subsequently, continuous operations through trucks and growing freight transport will encourage the demand for air suspension systems. However, any economic downturn might affect the air suspension systems market significantly. For instance, Japan witnessed subdued demand for commercial vehicles in 2017, which negatively impacted the demand for Air Suspension Systems. Moreover, freight vehicles are major contributors to climate change and emissions. Thus, technologies which could curb emissions are being employed -- air suspension systems reduce emissions and optimize fuel efficiency.

Globalization is one of the key trends responsible for the growth of the air suspension systems market in near future. Customers are increasingly moving to new markets and to facilitate and support their operations, manufacturers have been expanding their global footprint, which has been elevating the penetration rate of air suspension systems.

Market Segmentation

On the basis of vehicle type, the global air suspension systems market can be segmented into three segments: buses & coaches, trailers, and heavy trucks. Heavy trucks accounted for 52.1% volume share in 2017 and the segment is expected to expand at a significant CAGR as compared to other two segments. Further, trailers are estimated to have accounted for 30.1% volume share by the end of 2017. 

On the basis of sales channel, the global air suspension systems market can be segmented into OEM and aftermarket.  Revenue from OEM segment accounted for 84.4% value share in 2017 and is expected to expand at a CAGR of 6.7% over the forecast period.


Key Regions

On the basis of geography, the global air suspension systems market is segmented into North America, Latin America, Western Europe, Eastern Europe, Japan, China, South East Asia & Pacific, India and Middle East & Africa. Western Europe is expected to have dominated theAir Suspension Systems market with 32.8% value share in 2017 and is anticipated to remain dominant throughout the forecast period. Growth of the construction sector coupled with the prevalence of government regulations in Europe and other developed regions is expected to drive the growth of air suspension systems in the region. SEA is expected to emerge as one of the lucrative regions in terms of CAGR in the Air Suspension Systems market during the forecast period.

Key Players

Some of the key players operating in the global Air Suspension Systems market are SAF-HOLLAND S.A., Hendrickson USA, L.L.C., BPW Transpec Pty Ltd., TMC Australia Pty. Ltd., Guangzhou TND Axle Co., Ltd., Meritor, Inc., Wabco Holdings, York Transport Equipment (Asia) Pte. Ltd., VDL Weweler-Colaert etc.

Future Market Insights offers a 10-year forecast for the air suspension systems market between 2018 and 2028. In terms of value, the market is expected to register a CAGR of 7.0% during the forecast period (2018–2028). The main objective of the report is to offer insights on advancements in the global air suspension systems. The study provides market dynamics that are expected to influence the current environment and future status of the air suspension systems market over the forecast period. The primary objective of this report is to offer updates on trends, drivers, restraints, value forecasts and opportunities for manufacturers operating in the air suspension systems market.

A section of the report discusses how overall competition in the market is steadily increasing. It discusses various factors that are shaping internal as well as external competition in the market. The sales of air suspension systems and components is estimated to grow at a rapid pace in the near future. Moreover, rapid growth of construction activities, economic recovery and rising demand for commercial vehicles are expected to drive the growth of the air suspension systems market.

The report provides details regarding the market share analysis of the air suspension systems market on the basis of key manufacturers. A section of the report highlights country-wise air suspension systems. It provides a market outlook for 2018 – 2028 and sets the forecast within the context of the report, including new technical developments as well as product offerings for niche applications in the air suspension systems market.

Key Segments Covered

By Vehicle Type

  • Buses & Coaches

  • Trailers

  • Heavy Trucks

By Sales Channel

  • OEM

    • Electronic Operated Systems

    • Non Electronic Operated Systems

  • Aftermarket

    • System

    • Components

By Region

  • North America

  • Latin America

  • Western Europe

  • Eastern Europe

  • China

  • Japan

  • South East Asia & Others (SEA)

  • India

  • Middle East & Africa (MEA)

A detailed analysis has been provided for every segment in terms of market size analysis for air suspension systems.

The report starts with the market overview and provides market definition and analysis about drivers, restraints, opportunities, supply chain analysis and key trends in the market. The next section that follows includes global market analysis, analysis by components, end use and regional/country level analysis. All the above sections evaluate the market on the basis of various factors affecting the market, covering present scenario and future prospects. For market data analysis, the report considers 2017 as the base year, with market numbers estimated for 2018 and forecast made for 2018 – 2028.

It is imperative to note that in the ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyze the same on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and identify the right opportunities for market players.

Another key feature of this report is the analysis of all key segments in terms of absolute dollar. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as identify potential resources from a sales and delivery perspective in the air suspension systems market.

In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. Detailed profiles of manufacturers are also included within the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the air suspension systems market. Key players in the global air suspension systems market include,

  • Saf-Holland SA

  • Hendrickson USA, LLC

  • BPW Transpec Pty Ltd.

  • TMC Australia Pty. Ltd.

  • Guangzhou TND Axle Co., Ltd.

  • Meritor, Inc.

  • Wabco Holdings

  • York Transport Equipment (Asia) Pte. Ltd.

  • VDL Weweler-Colaert

  • Jamna Auto Industries  

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