Automotive Air Suspension Market Set to Hit $10,805.66 Million Value by 2030, Says P&S Intelligence

NEW YORK, Oct. 27, 2022 /PRNewswire/ -- According to the latest market research study published by P&S Intelligence, in 2021, the automotive air suspension market accounted for a size of $6,262.00 million, which will touch $10,805.66 million value by 2030, progressing at a 6.25% CAGR from 2021 to 2030.

This may be attributed to the rising demand for commercial vehicles and increasing safety and comfort standards for automobiles, which contribute to the integration of air suspension systems into heavy vehicles, in particular.

Why Are Passenger Cars Leading User of Air Suspensions?

The category of passenger cars accounts for an over 50% share of the market. This is attributed to the need for better driver comfort and less wear and tear on the suspension, which, ultimately, lessens the roughness, vibration, pain, and tiredness of driving on poor-quality roads and for long distances.

Passenger vehicles provide a safe and comfortable ride, thereby improving customer satisfaction and adds to fast and pleasant traveling. This motivates manufacturers to use air suspensions in their high-end models.

Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/automotive-air-suspension-system-market/report-sample

Electronic Technology Has Bright Future

The electronically controlled category will grow at an around 7% CAGR in the coming years. These components contain height sensors dependent on sensing the resistance with the terrain, to provide height references for all four axles of the vehicle. Electronic control units that can be affixed beneath the car's floorboard, are one of the latest developments allowing for wider air suspension usage.

Air Suspension Procurement Highest among APAC-Based OEM Factories

The APAC region generates the highest revenue for firms manufacturing and providing air suspensions for vehicles. This is due to the reopening of offices following the pandemic, which has significantly boosted the demand for automobiles.

• China, Japan, India, and South Korea account for the highest car ownership and, therefore, the strongest influence on the regional market. China is expected to be the largest industry in the region due to its huge population and rise in the sale of passenger automobiles post the pandemic.

Similarly, Europe is set to witness the greatest increase in the demand for automotive air suspensions over this decade. This may be attributable to the growing need for comfortable public transportation. France and Germany are the two key manufacturing centers for the automotive giants in the region.

• Germany is also Europe's largest market for electric automobiles, which is why the expansion of the automotive sector will fuel the industry.

Browse detailed report on Automotive Air Suspension Market Size, Share and Demand Analysis Report 2022-2030

North America will witness a growth of about 6% in the future. In addition to having an expanding infrastructure and government support for EVs, the region is home to several major automotive OEMs.

Global Automotive Air Suspension Market Report Coverage

By Vehicle type

• Light Commercial vehicle
• Passenger cars
• Heavy Commercial
• Buses & Coaches

By Component

• Air Springs
• Shock Absorbers
• Compressors
• Electronic Control Units
• Air Reservoirs
• Height Sensors

By Technology

• Electronically Controlled
• Non-Electronically Controlled

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Spain
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• South Africa
• Saudi Arabia

Browse More Reports Published by P&S

Global P2P Carsharing Market Size and Share Analysis Report, 2030

Global Intelligent Transportation System Market Size and Share Analysis Report, 2030

Global Electric ATV and UTV Market Size and Share Analysis Report, 2030

Global Automotive Catalytic Converter Market Size and Share Analysis Report, 2030

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

Contact:
Prajneesh Kumar
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Follow Us: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg