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Global Air Spring For Passenger Vehicle Market Size By Product Type, By Technology, By Sales Channel, By Geographic Scope And Forecast
” in its research database. Get a Free Sample PDF of this Research Report for more Insights with Table of Content, Research Methodology, and Graphs –
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Air Spring For Passenger Vehicle Market Size And Forecast
Air Spring for Passenger Vehicle Market was valued at USD 1.05 Billion in 2018 and is projected to reach USD 2.11 Billion by 2026, growing at a CAGR of 7.36% from 2019 to 2026.
advantages offered by technologically advanced air springs in luxury cars are driving the growth of the luxury cars market, which is further strengthening the global Air Spring for Passenger Vehicles market growth. The Global Air Spring for Passenger Vehicle Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
What is Air Spring for Passenger Vehicles?
An air spring is a cautiously designed rubber & fabric flexible member that comprises a column of compressed air. Air spring systems for passenger vehicles are beneficial for lightweight vehicle design; thereby effectively improving payload, reducing fuel consumption, and decreasing operating costs. In addition, passenger cars fitted with air springs deliver improved vibration isolation with the advantage of their low regular frequency and significantly constant over full load during travel, substantially reducing vehicle damage and impact to the road surface, also minimizing tire wear. Air springs improve the handling and ride capability of the vehicle by offering air cushions between the frame and the wheels.
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Air Spring for Passenger Vehicle Market Overview
There is increased stringency in regulations in many parts of the world, including the U.S., Japan, and Europe that necessitate further improvements in environmental performance and vehicle safety. Stringent government regulations regarding reducing emissions have driven auto manufacturers to reduce vehicle weight by adopting lightweight materials in automotive components and parts. The increasing preference for in-vehicle ride comfort and safety and vehicle light-weighting is influencing the manufacturers of air springs to design lightweight air springs for passenger cars. In addition, the advantages offered by technologically advanced air springs in luxury cars are driving the growth of the luxury cars market, which is further strengthening the global Air Spring for Passenger Vehicles market growth.
However, the high development cost of air springs is the key factor anticipated to hamper the market growth over the estimated period. Market vendors of the global Air Spring for Passenger Vehicles market are focusing on enhancing the safety and efficiency of air springs by using advanced technologies, which in turn, increases the development cost of air springs.
Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interest the client. The “Air Spring for Passenger Vehicle Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Air Spring for Passenger Vehicle Market: Segmentation Analysis
The Global Air Spring for Passenger Vehicle Market is segmented on the basis of Product Type, Technology, Sales Channel, and Geography.
By Product Type
- Convoluted Bellows
- Rolling Lobe Bellows
- Sleeve Bellows
The market is segmented on the basis of Product Type into Convoluted Bellows, Rolling Lobe Bellows, and Sleeve Bellows. Global Air Spring for Passenger Vehicle Market for Convoluted bellows segment is anticipated to be the largest over the estimated period. However, the market for Rolling lobe bellows is likely to grow at the highest CAGR as these bellows offer good lateral movement, allow the natural frequency to fluctuate, and are the best suspension for the vehicle hence requiring no additional volume.
By Technology
- Non-Electronically Operated
- Electronically Operated
The market is segmented on the basis of Technology into Non-Electronically Operated and Electronically Operated. The electronically operated segment is expected to be the fastest-growing during the forecast period. Rising competition in the automotive market has pressurized players to research alternative strategies for better performance and comfort which in turn is influencing the growth of the segment. The electronic air spring system is continuously proposed with a new concept to stimulate the action of the active vehicle suspension system. The advent of EVs and automatic cars poses an opportunity for segment growth.
By Sales Channel
- OEM
- Aftermarket
The market is segmented on the basis of the Sales Channel into OEM and Aftermarket. The OEM segment is anticipated to be the largest as well as fastest growing over the estimated period. With the rising demand for comfort and safety in the passenger vehicle, car owners are now choosing OEM parts for a replacement to achieve full compatibility with the vehicle as previously. OEM parts are guaranteed by the automaker with the vehicle which is foreseen to fuel the growth.
By Geography
• North America• Europe• Asia Pacific• Rest of the world
The market is studied on the basis of key geographies North America, Europe, Asia Pacific, and the Rest of the World (Row). Europe dominated the market in 2018 owing to the higher adoption of the technology across all vehicle types compared to regions like North America and Asia Oceania. There has been significant growth in vehicle sales of SUVs. The R&D investment remains strong as the manufacturer seeks to maintain the competitiveness of the vehicle in a global market. However, Asia Pacific is witnessing the fastest growth in the market.
Key Players
The Global Air Spring for Passenger Vehicle Market is highly fragmented with the presence of a large number of manufacturers globally. Some of the major players include Firestone Industrial Products Company, LLC, Vibracoustic, Dunlop Systems and Components, STEMCO (EnPro Industries, Inc.), Meklas Group, Continental AG, and Torque Parts LLC.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Market Report Scope
| Report Attributes | Details |
|---|---|
| Study Period |
2015-2026 |
| Base Year |
2018 |
| Forecast Period |
2019-2026 |
| Historical Period |
2015-2017 |
| Unit |
Value (USD Billion) |
| Key Companies Profiled |
Firestone Industrial Products Company, LLC, Vibracoustic, Dunlop Systems and components, STEMCO (EnPro Industries, Inc.), Meklas Group, Continental AG, and Torque Parts LLC |
| Segments Covered |
By Product Type, By Technology, By Sales Channel and By Geography |
| Customization scope |
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Air Spring for Passenger Vehicle Market Infographic
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Research Methodology of Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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