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.
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