Global Analysis of Automotive Air Suspension System Market

1. Automotive Air Suspension System Market: R&D Portfolio and Opportunity Analysis

2. The global automotive air suspension system marketwas valued at $5.0 billion in 2015 and is projected to reach $8.2 billion by 2022, at a CAGR of 7.6% during the forecast period (2016–2022). Historically, the automotive air suspension system market witnessed faster growth in the electronic air suspension category, mainly owing to the preference for greater driving comfort, higher load carrying capacity, and various adjustment options in the vehicles, which are provided by electronic systems. The increasing industrialization has enhanced the overall purchasing power of consumers. According to the National Bureau of Statistics of China, the annual per capita disposable income of urban households in China increased from $2,818.6 in 2010 to $4,692.9 in 2014. The per capita GDP of India increased from $1,432.3 in 2010 to $1,500.8 in 2012, and is expected to reach $1,869.3 by 2018. The overall annual disposable income in India increased from $1,366.2 billion in 2010 to $1,587.6 billion in 2013. Owing to such increase in the overall income of consumers, the per capita vehicle ownership has increased, especially in the developing Asia-Pacific countries, such as India and China. This is further driving the demand for premium cars, which in turn is supporting the growth of the automotive air suspension system market in the region. In 2012, sale of premium cars in China reached 1.25 million vehicles and is expected to reach 3 million by 2020. China’s premium car market is expected to grow at an annual rate of 12% through 2020 and is expected to surpass the U.S. as the largest premium car market.

3. 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. In 2015, Europe accounted for the largest market of automotive air suspension systems; whereas the market during the forecast period is expected to witness fastest growth in Asia-Pacific. The major reason for the growth of the market in the region is increasing disposable income of people and growing demand for fuel efficient vehicles. North America was the second largest market for automotive air suspension system in 2015 owing to its increasing customer base and high disposable income of people in the region. This has resulted in increased manufacturing activities by local automotive OEMs in the region, and supporting the growth of the automotive air suspension system market. 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.

4. GLOBAL AUTOMOTIVE AIR SUSPENSION SYSTEM MARKET SEGMENTATION By Technology Electronic Air Suspension Manual Air Suspension By Component Shock Absorber Air Spring Air Compressor Air Reservoir Height Sensor Electric Control Unit (ECU) Others By Vehicle Type Bus Passenger Car Light Commercial Vehicle (LCV) To receive a free sample copy of this report

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