Automotive Air Suspension Market by Technology, Companies, Forecast by 2027

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automobiles

Summary

Automotive Air Suspension Market will be US$ 9.13 Billion by 2027. Global Forecast, Impact of Coronavirus, Industry Trends by Technology, Application, Growth, Opportunity, Company Analysis.

Press Release

The suspension of a vehicle operated by an engine-driven compressor or air pump is called the air suspension. Air suspension increases stability and reduces fuel consumption, which further helps improve the driving comfort of the vehicle. The application of air suspension systems in automotive also minimises the noise and vibration and enhances the capacity to transport loads by equalising the suspension. According to Renub Research, Automotive Air Suspension Market is projected to reach US$ 9.13 Billion by 2027.

In the recent years, technological advancements in air suspension have also led to the growth in the adoption of air suspension in all vehicle segments. By application, the market has been fragmented into Cars, Trucks, Buses and Light Commercial Vehicles. The suspension system of cars has two primary purposes. Firstly, maintain contact between the wheel and the tarmac; and secondly, prohibit road shocks and undulations from reaching the passengers.

In addition, the demand for luxury buses for long-distance travelling and the importance of comfort and luxury in passenger cars is increasing, leading to a rise in the production of passenger cars and commercial vehicles with the automotive air suspension system in the forecast period. As per our estimation, the Automotive Air Suspension Growth rate will be CAGR 8.67% during 2020 – 2027.

Technology Analysis of Automotive Air Suspension Industry

The automotive air suspension market is divided into electronic and non-electronic. Electronic technology is expected to witness faster growth throughout the forecast period owing to the growing adoption of advanced technology systems. The Electronically controlled air suspension system is a computer-controlled system that can adapt a vehicle’s ride characteristics and performance.

COVID-19 Impact on Global Automotive Air Suspension Market

The outbreak of COVID-19 has rigorously reshaped the overall supply chain of the industry. The halt in production and logistics formed due to the pandemic has hit raw material suppliers of the global automotive industry. The sector suspended its day to day functioning due to COVID-19 during the beginning of the second quarter of 2020. This situation influenced the automotive air suspension market, particularly in European & North American countries, as the growth of this market is undeviating correlated to the production of carriers. However, the demand for suspension systems is awaited to rise, reflecting 2021 as the restoration period, where the automotive air industry is presumed to showcase growth.

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