NEW YORK, October 14, 2016 /PRNewswire/ --
According to market research titled "Global Automotive Air Suspension System Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Technology (Manual Air Suspension, Electronic Air Suspension), by Component (Shock Absorber, Air Spring, Air Compressor, Air Reservoir, Height Sensor, Electric Control Unit, Others), by Vehicle Type (Bus, Passenger Car, Light Commercial Vehicle)" published by P&S Market Research, the global automotive air suspension system market was valued at $4,963.6 million in 2015, and it is expected to grow at a CAGR of 7.6% during 2016 - 2022.
Increasing demand for luxury and comfort, and growing demand for premium cars and luxury buses are expected to drive the automotive air suspension market over the forecast period. Moreover, stringent emission control norms and fuel efficiency regulations in different countries is enforcing stringent targets to OEMs. This in turn, has increased the demand for lightweight air suspension system in the automotive industry. For instance, Kenworth Truck Company, a U.S. based manufacturer of medium and heavy-duty Class 8 trucks, introduced air ride suspension system in its vehicles to reduce the weight of suspension system by 400 pounds. ECOmove, an Australian company, developed patented 'Qbeaks' suspension composed entirely made of composite materials.
Explore Report Description with Detailed TOC at: https://www.psmarketresearch.com/market-analysis/automotive-air-suspension-system-market
Among the two technologies of automotive air suspension system, the manual air suspension held the larger share in the global automotive air suspension system market in 2015. However, the electronic air suspension systems segment is the faster growing segment. The consumption of automotive air suspension system was the largest in bus segment in 2015, compared to other vehicle types. The automotive air suspension system market is expected to witness fastest growth in passenger car segment.
Some of the major players operating in the global automotive air suspension system market include Thyssenkrupp AG, Hendrickson International Corporation, Continental AG, WABCO Holdings Inc., Hitachi Ltd., BWI Group, Firestone Industrial Products, Mando Corporation, Accuair Suspension, and Dunlop Systems and Components.
GLOBAL AUTOMOTIVE AIR SUSPENSION SYSTEM MARKET SEGMENTATION
- Electronic Air Suspension
- Manual Air Suspension
- Shock Absorber
- Air Spring
- Air Compressor
- Air Reservoir
- Height Sensor
- Electric Control Unit (ECU)
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle (LCV)
- Rest of Europe
- North America
- Rest Of Asia-Pacific
- Rest of the World (RoW)
- Rest of RoW
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SOURCE P&S Market Research