Automotive Air Suspension Market Size (2024 - 2029)

The automotive air suspension market is experiencing growth driven by increasing global commercial vehicle sales and a rising demand for premium and luxury vehicles. The market's expansion is further supported by the demand for lightweight air suspension systems and a growing aftermarket for related components. The Asia-Pacific region, particularly China, is expected to see significant growth due to the rapid adoption of air suspension systems. Meanwhile, Europe and North America are also anticipated to witness substantial market growth during the forecast period.

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Market Size of Automotive Air Suspension Industry

Automotive Air Suspension Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.00 %
Fastest Growing Market Europe
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Automotive Air Suspension Market Major Players

*Disclaimer: Major Players sorted in no particular order

Automotive Air Suspension Market Analysis

The automotive air suspension market was valued at USD 6.2 billion in 2021, and it is expected to register a CAGR of greater than 6% during the forecast period (2022-2027).

For the year 2020, the global automotive industry witnessed a slump, primarily attributed to COVID-19 pandemic-associated lockdown and travel restrictions that halted the industry supply chain. Also, as the vehicle manufacturing activities were on halt for a few months in the first half of the year 2020, the demand for associated components witnessed a slump. This in turn hampered the automotive air suspension market for the year 2020.

Factors such as a rise in global commercial vehicle sales and an increase in demand for premium and luxury vehicles drive the growth of the market. Furthermore, an increase in demand for lightweight air suspension systems and rising aftermarket demand for air suspension and related components are expected to create numerous opportunities for the growth and expansion of the air suspension market.

The Asia-Pacific region is expected to expand at a significant pace, as the region comprises rapidly developing economies, such as China, Japan, and India. Europe and North America are likely to witness significant growth during the forecast period. The market in Asia-Pacific is primarily driven by China, where the rate of adoption of air suspension systems in vehicles is increasing. This, in turn, is driving the automotive air suspension system market in the country.

Automotive Air Suspension Industry Segmentation

An automotive air suspension system is a style of vehicle suspension that is powered by an electric pump or compressor that pumps air into flexible bellows that are typically made out of a textile-reinforced type of rubber. It is used in vehicles to provide comfort to drivers while driving. The scope of the report covers segmentation based on control type, application type, end user, and geography.

By Control Type, the market is segmented into Electronically Controlled Air Suspension and Non-electronically Controlled Air Suspension. By Application Type, the market is segmented into Passenger Cars and Commercial Vehicles.

By End User, the market is segmented into OEMs and Aftermarket, and by Geography, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. For each segment, market sizing and forecast have been done on the basis of value (USD billion).

Control Type
Electronically Controlled Air Suspension
Non-electronically Controlled Air Suspension
Application Type
Commercial Vehicle
Passenger Cars
End User
OEM
Aftermarket
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
South America
Middle-East and Africa
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Automotive Air Suspension Market Size Summary

The automotive air suspension market is poised for significant growth, driven by increasing global commercial vehicle sales and a rising demand for premium and luxury vehicles. The market is experiencing a resurgence following the setbacks caused by the COVID-19 pandemic, which had temporarily disrupted supply chains and manufacturing activities. The demand for lightweight air suspension systems and the growing aftermarket for these components are expected to create numerous opportunities for market expansion. The Asia-Pacific region, particularly China, is a key driver of this growth, with the adoption of air suspension systems in vehicles on the rise. Europe and North America are also anticipated to witness substantial growth, with Europe projected to lead due to its higher adoption rate across various vehicle types.

The market is characterized by the introduction of technologically advanced systems, such as electronically controlled air suspension, which enhances ride quality and vehicle performance. This technology is increasingly being integrated into luxury passenger cars and is supported by safety regulations from organizations like IIHS and NCAP. The commercial vehicle segment also sees a higher installation rate of air suspension in semi-trailers and multi-axle buses. The market is moderately consolidated, with key players like Dunlop Systems, Vibrocoustics, Wabco, and Continental AG actively engaging in mergers, acquisitions, and product launches to strengthen their market presence. The growing demand for electric vehicles and technological advancements further bolster the market's growth prospects.

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Automotive Air Suspension Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Control Type

      1. 2.1.1 Electronically Controlled Air Suspension

      2. 2.1.2 Non-electronically Controlled Air Suspension

    2. 2.2 Application Type

      1. 2.2.1 Commercial Vehicle

      2. 2.2.2 Passenger Cars

    3. 2.3 End User

      1. 2.3.1 OEM

      2. 2.3.2 Aftermarket

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Rest of North America

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Italy

        5. 2.4.2.5 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 India

        2. 2.4.3.2 China

        3. 2.4.3.3 Japan

        4. 2.4.3.4 South Korea

        5. 2.4.3.5 Rest of Asia-Pacific

      4. 2.4.4 Rest of the World

        1. 2.4.4.1 South America

        2. 2.4.4.2 Middle-East and Africa

Automotive Air Suspension Market Size FAQs

The Automotive Air Suspension Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Continental AG, DUnlop Systems and Components, Stemco, Vibracoustics and zf friedrichshafen ag are the major companies operating in the Automotive Air Suspension Market.

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