Air Suspension Market's Growth from $5.94 Billion in 2019 to $9.22 Billion by 2026, with a 6.50% CAGR

According to a recent report published by Allied Market Research, titled, "Air Suspension Market Size, Share, Competitive Landscape and Trend Analysis Report by Vehicle Type, Component, Technology Type and Sales Channel : Global Opportunity Analysis and Industry Forecast, 2018-2026."

The global air suspension market size was valued at $5.94 billion in 2019, and is projected to reach $9.22 billion by 2026, registering a CAGR of 6.50%. Asia-Pacific was the highest revenue contributor, accounting for $19.56 billion in 2018, and is estimated to reach $33.52 billion by 2026, with a CAGR 6.9%. Asia-Pacific and North America collectively accounted for about 67.4% share in 2018, with the former constituting around 35.2% share. Asia-Pacific and Europe are expected to witness considerably higher CAGRs of 6.9% and 6.4%, respectively, during the forecast period. The cumulative share of these two segments was 55.4% in the global air suspension market in 2018, and is anticipated to reach 56.5% by 2026.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/5586

Air suspension is a type of suspension system used in vehicles to provide comfort to drivers while driving. The air suspension system present in vehicles is powered by an electric or engine-driven air pump or compressor. These pumps or compressors attached to the suspension system allows air to flow into suspension system which is usually made from textile-reinforced rubber. Air suspension system is used in a vehicle in replacement of conventional steel springs and have a wider application in heavy vehicles such as buses, trucks, rolling stock, and various heavy vehicles. The main purpose of air suspension is to provide a smooth and constant ride quality to driver and passengers, which has positively impacted to the air suspension market growth.

A good quality ride provides comfort to passengers, minimizes damage to cargo, and reduces driver fatigue on long journeys. Suspension is responsible for quality of rides and control on car handling, as cars with firm suspension could result in greater control of body movements and quicker reactions. Ambulances have a special need for high level of ride quality, to avoid further injury to the already ill passengers. Such factors have boosted the demand for higher driving comfort, which eventually influenced Air Suspension Market.

Air suspensions are much more effective and powerful than the ordinary mechanical or spring-based suspension systems, which is the reason they are exclusively used in heavy vehicles. Also, they have a wider demand for installation in vehicles as they provide better and effective suspension and increase the comfort level of vehicles.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/air-suspension-market/purchase-options

Air suspensions used in vehicles are of two types, namely, electric controlled and non-electric controlled. The electrically controlled air suspension system uses low air consumption and includes quick lifting and lowering features, and has high serviceability and concepts for diagnosis.

Factors such as rise in global commercial vehicle sales and increase in demand for premium and luxury vehicles drives the growth of air suspension market. However, factors such as high development and adoption cost of air suspension is supposed to hamper the market growth. Further, increase in demand for lightweight air suspension systems and rising aftermarket demand for air suspension and related components is expected to create numerous opportunities for the growth and expansion of the air suspension market.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

Based on technology, the non-electric controlled air suspension system generated the highest revenue in 2018.

Based on component, the compressor and Electronic Controlled Unit (ECU) segment was the highest revenue contributor in 2018.

Based on region, Asia-Pacific contributed the highest market revenue in 2018, followed by North America, Europe, and LAMEA.

In Asia-Pacific, China is anticipated to exhibit the highest CAGR during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/5586

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

Continental,
ThyssenKrupp AG,
Hitachi,
Wabco,
Firestone Industrial Products,
Hendrickson,
Mando Corporation,
BWI Group,
SAF-Holland,
Accuair Suspension.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

Automotive Voice Recognition System Market :
https://www.alliedmarketresearch.com/automotive-voice-recognition-system-market-A07279

Automotive Sunroof Market :
https://www.alliedmarketresearch.com/automotive-sunroof-market

Automotive Transceivers Market :
https://www.alliedmarketresearch.com/automotive-transceivers-market

Automotive E-Commerce Market :
https://www.alliedmarketresearch.com/automotive-e-commerce-market-A08491

Automotive Software Market :
https://www.alliedmarketresearch.com/automotive-software-market

Automotive Ethernet Market :
https://www.alliedmarketresearch.com/automotive-ethernet-market-A07114

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog: https://blog.alliedmarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.