Air spring market is anticipated to exhibit considerable growth during the forecast period. Air springs are load-bearing rubber parts made of hollow rubber bellow sealed on top and bottom metal plates. Air spring allows for improved vibration isolation, increased longevity, and decreased driver fatigue. Due to its enhanced performance, better cushioning and relatively high safety features air suspension systems have increasingly being preferred in various categories of automotive. Increasing penetration of air suspension into passenger cars and commercial vehicles is anticipated to be a major factor supplementing the demand for air spring industry across the globe. Luxury vehicle sales have recorded an increase in developing and developed nations over the past decade.
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The preference for luxury vehicles is not only limited to passenger cars, but the market for luxury buses and performance trucks have also been significant. Most OEMs are deployed these classes with a new air suspension system and thus turning out to be air spring customers. In an attempt to expand its aftermarket reach and cover a range of commercial vehicle operations, Meritor Inc. had launched a new line of air springs, including double-convoluted, cab-mount, and coil spring prices. The new technology has been evolving since 2011, according to the agency. Neopos had developed a new Formula-developed air suspension technology that offers higher linear compression and returns.
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Europe is anticipated to have significant market size geographically owing to the presence of major key players in the market such as Continental AG, ThyssenKrupp AG, and others. The adoption rate of air springs is higher in this region owing to importance in passenger cars such as BMW, Mercedes-Benz, Porsche, Audi, and Land Rover. Moreover, the installation of air spring systems is higher in semi-trailers and multi-axle buses. North America is expected to have significant growth in the air spring market for the craving demand for luxury vehicles. Asia-Pacific is anticipated to witness the significant growth owing to the increasing production of passenger cars and commercial vehicles in the region. The air spring market includes a few major companies such as Accuair Suspension, Firestone Industrial LLC, Hendrickson LLC, Air Lift Co., Continental AG, ITT Inc., WABCO Holdings Inc., and STEMCO Products, Inc.
Global Air Spring Market- Segmentation
By Type
- Convoluted Bellows
- Rolling Lobe Bellows
- Sleeve Bellows
By Technology
- Non-Electronically Operated
- Electronically Operated
By Application
- Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
- Others
Global Air Spring Market- Regions
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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