The global Air Suspension Industry is expected to grow from USD 10.0 billion in 2024 to 13.9 billion by 2030, it is projected to grow at a CAGR of 5.6% in the forecast period. The air suspensions play a very important part in a vehicle, as they provide comfort, ride quality, and stability and also help reduce emissions by increasing fuel efficiency. Therefore, automotive OEMs invest very heavily in the Research and development (R&D). For Example, In 2023, Continental AG introduced a Smart Air Suspension, which was integrated with a sensor and software that improved the load leveling and adopted the level according to the vehicle’s speed. This improved the aerodynamics of the car and increased the fuel efficiency. In 2023, WABCO(ZF) also developed an OptiRide automated manual transmission interface, which integrated air suspensions with automated manual transmission. This improved the vehicle’s fuel efficiency and optimized the load distribution.
Increasing sales of premium and luxury passenger cars globally to provide new opportunities to the suspension market
The rise in disposable income and urbanization are the factors for the increase in the sales of premium and luxury vehicles. The Premium and luxury passenger car customers demand comfort, ride quality, and stability. This is the reason why several OEMs have started incorporating the air suspension systems. Various vehicles are equipped with Electronically controlled Air Suspension (ECAS). The ECAS has excellent comfort, Ride quality, and stability due to its active damping and self-leveling capabilities. Luxury cars are often early adopters of new technologies such as innovative materials and design, such as lightweight components and advanced shock absorbers. Safety factors are prioritized in luxury vehicles, such as equipping the vehicle with ECAS, which provides better handling, ride stability, quality, braking, and overall vehicle control. The ECAS has real-time height-adjusting mechanisms, improving traction and reducing the chances of rolling over.
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The Demand for Air Bellows to increase in the Aftermarket
As more vehicles in the commercial and luxury segment adopt air suspension systems, the demand for the replacement of components is likely to increase. Air suspensions provide better comfort, ride quality, stability, and safety; air bellows are one of the most crucial parts of an air suspension system. Still, continuous flexing, pressure changes, and environmental conditions can lead to material fatigue, leaks, and failure. So, regular maintenance and part replacement is required due to wear and tear to maintain the performance. Also, any vehicle owner, especially those managing fleets, finds affordable and reliable parts and components in the aftermarket. Even after-market products provide quality and performance similar to original equipment manufacturers (OEMs). Some vehicle enthusiasts also use the aftermarket air bellows as they are customized to their ride height and load-carrying capacity requirements. Due to the advancements in materials and manufacturing techniques, even the Aftermarket Air Bellows are high quality. These advanced materials enhance durability, reliability, and performance, making aftermarket options more attractive to consumers.
Key Players
Prominent players in the air suspension market are ZF Friedrichshafen AG (Germany), ThyssenKrupp AG (Germany), Continental AG (Germany), Cummins-Meritor Inc. (US), and SAF Holland (Germany). These players have adopted various strategies, such as product launches/developments, partnerships, agreements, and expansions, to strengthen their position in the market.
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