DUBLIN--(BUSINESS WIRE)--ResearchAndMarkets.com has added the report "Automotive Air Suspension Market, Global Forecast, Impact of Coronavirus, Industry Trends, Growth, Opportunities, and Company Analysis" to the products of ResearchAndMarkets.com.
The suspension of a vehicle operated by an engine-driven compressor or an air pump is called an air suspension. The air suspension increases stability and reduces fuel consumption, further helping to improve the driving comfort of the vehicle. The application of air suspension systems in automobiles also minimizes noise and vibration by balancing the suspension, and improves the ability to transport loads. According to the publisher, the automotive air suspension market is expected to reach 9.13 billion US dollars by 2027.
In recent years, technological advancements in air suspension have also led to an increasing adoption of air suspension in all vehicle market segments. According to the application, the market has been subdivided into cars, trucks, buses and light commercial vehicles. The suspension system of a car has two main uses. First, keep the wheels in contact with the apron; second, prohibit road shocks and fluctuations from reaching passengers.
In addition, the demand for luxury coaches for long-distance travel and the increasing importance of passenger cars for comfort and luxury have led to an increase in the production of passenger cars and commercial vehicles equipped with automotive air suspension systems during the forecast period. According to our estimation, the compound annual growth rate of automobile air suspension from 2020 to 2027 will be 8.67%.
Technical Analysis of Automobile Air Suspension Industry
The automotive air suspension market is divided into electronic and non-electronic. Due to the increasing adoption of advanced technology systems, it is expected that electronic technology will experience faster growth throughout the forecast period. The electronically controlled air suspension system is a computer-controlled system that can adapt to the driving characteristics and performance of the vehicle.
Unlike the traditional air suspension, the electronic suspension electronically modifies the rear shock absorber or strut to ensure smooth driving. For example, Audi A8, Mercedes S-Class, Porsche Cayenne, Land Rover Discovery, Volkswagen Touareg and many other luxury passenger cars with electronically controlled air suspension are being released.
Market scale of automotive air suspension parts
The automotive air suspension market includes air springs, shock absorbers, air compressors, electronic control units (ECU), fuel tanks, solenoid valves, and height and pressure sensors. Height sensors are essential equipment in vehicles; they help maintain the height of the vehicle by adjusting the distance between specific points of the vehicle and the path.
In addition, the height sensor transmits the signal to the self-leveling module, which activates the compressor and ultimately adjusts the suspension settings. This characteristic has promoted the development of the global automotive air suspension market. According to our analysis, the global air suspension market will be worth USD 5.1 billion in 2020.
Regional analysis of global automotive air suspension
The global automotive air suspension market is divided into Asia Pacific, Europe and North America. Due to technological advancements in the region and important players in countries such as China, India, and Japan, the automotive air suspension market in the Asia-Pacific region is expected to experience gratifying growth during the forecast period. It is expected that the European market will experience strong growth during the forecast period. Increasing adoption of technologically advanced products with enhanced technological capabilities may also boost the market in this region.
The impact of COVID-19 on the global automotive air suspension market
The COVID-19 outbreak has severely reshaped the overall supply chain of the industry. The production and logistics suspension caused by the epidemic has hit raw material suppliers in the global automotive industry. Due to COVID-19, the industry suspended its daily operations at the beginning of the second quarter of 2020. This situation has affected the automotive air suspension market, especially in European and North American countries, because of the growth of the market and the production of carriers. However, the demand for suspension systems is expected to rise, which reflects that 2021 is a recovery period and the automotive air industry is expected to grow there.
7. Technology-Automotive Air Suspension Market
8. Application-Automotive Air Suspension Market
9. Components-Automotive Air Suspension Market
10. Region-Automotive Air Suspension Market
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours +353-1-416- 8900