Automotive Air Suspension Market Size (2024 - 2029)

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).