Air Suspension Market Size - Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032

Air Suspension Market Size

Air suspension market size is estimated to foresee considerable growth between 2024 and 2032, due to the rising demand for sports and luxury vehicles driven by the increasing disposable incomes globally. For instance, in December 2023, the U.S. disposable personal income per capita was USD 61242. The growing consumer preference toward vehicles with superior ride comfort and the increasing significance for passenger and driver safety will complement market expansion through the ensuing years.
 

Air Suspension Market Trends

The industry dynamics are being strengthened by the accelerating trend for overnight journeys and the subsequent rise in the sales of long-haul buses with superior comfort. Besides, favorable stances by the government authorities geared towards the growth of the automotive manufacturing sector, coupled with the growing inclination for superior performance suspension technologies, will expedite the industry growth through 2032.
 

Air Suspension Market Analysis  

Based on vehicles, the HCV vehicle type segment is projected to record significant growth up to 2032, owing to the increasing demand for buses that are more comfortable and have the ability to travel long distances without any trouble. The wider electrification of heavy commercial vehicles, couples with focus on incorporating advanced air suspension systems, will favor market growth. In 2022, the global sale of electric buses was nearly 66000 and medium and heavy-duty trucks was almost 60000.
 

In terms of components, the air suspension market from the electronic control unit (ECU) segment will foresee an appreciable valuation by 2032, led by the rising preference for devices that can facilitate improved performance. ECU serves as an essential component in the electronically controlled air suspension system (ECASS) and ensures enhanced vibration absorption and improved vehicle control. The demand for ECU is further impelled by the increasing usage of components like solenoid valves, lines, etc., that fill and vent each airbag and can be adjusted in different conditions.

With regard to technology, the the electronically controlled air suspension (ECAS) segment is anticipated to grow significantly by 2032, with rising consumer preference for vehicles with better suspension operations. ECAS technology provides reduced air consumption and vibration while facilitating comfortable rides. Besides, high stability, optimum road grip, and adaptability to varying loads will further support segmental growth, as several luxury passenger cars, such as Porsche Cayenne, Audi A8, Land Rover Discovery, Mercedes S-Class, and Volkswagen Touareg, are equipped with ECAS.
 

Europe air suspension industry is expected to witness considerable growth till 2032, attributed to the increasing consumer preference towards premium vehicles in the region. The strong presence of numerous automobile OEMs with product portfolios comprising sports and luxury vehicles is expected to propel the industry expansion. Besides, the high economic growth in countries including the UK, Spain, and Germany, coupled with increasing investments, will present ample growth opportunities for the regional market players.
 

Air Suspension Market Share  

Key players in the air suspension industry include:

• Wabco Holdings Inc
• Continental AG
• Hitachi Ltd
• ThyssenKrupp AG
• Hendrickson International Corporation (Hendrickson Holdings
• L.L.C.)
• SAF-Holland
• Firestone Industrial Products LLC

These players are making hefty investments in R&D to develop innovative products to gain a competitive edge in the market. Besides, they are also focusing on various marketing strategies like acquisitions, partnerships, collaborations, and more.
 

Air Suspension Industry News

•   In January 2023, Firestone Industrial Products Company, LLC (FSIP), a subsidiary of Bridgestone Americas, Inc. and a pioneer in air spring technology, introduced a revamped brand identity, Firestone Airide. This new branding encompasses the extensive innovation, diversity, and expertise within all Firestone business sectors, including Automotive, Heavy Duty-Commercial, and Off-Highway segments.