The majority of the benefits of air suspension in an automobile are related to adjustability. An air suspension system may raise or lower a vehicle's height and hence ground clearance in seconds by adding or lowering the volume of air in the spring. Raising the suspension lowers the chances of a vehicle becoming trapped off-road or suffering underbody damage from trail hazards. Air suspension compressor systems helps to minimizes cargo damage, and decreases driver fatigue and also improves ride for passenger. Suspension is crucial for ride quality and automobile handling control, since cars with firm suspension may have better body control and quicker reflexes. Ambulances, in particular, require a high degree of ride quality to prevent further harm to patients who are already sick. As a result of these reasons, the demand of air suspension compressor is increasing and providing lucrative growth in the market.
Electronic control unit in vehicle’s air suspension improves vibration absorption and loading and unloading efficiency. It changes the loading platform height according to the load to maintain the best possible condition of the air suspension system, which is noted for its superior vibration absorption capability. Furthermore, Key players are focusing on manufacturing advance air suspension compressor for passenger and commercial vehicles. For instance, in October 2021, VIAIR has introduced the 330 C Hyper Grade 24V Compressor for those in need of consistent high–pressure air in their manufacturing process or other industrial applications.
The global air suspension compressor market is segmented on the basis of vehicle type, sales channel, and region. On the basis of vehicle type, the market is segregated into passenger vehicle and commercial vehicle. By sales channel, it is categorized into in OEM and aftersales. Region wise, the air suspension compressor market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
COMPETITION ANALYSIS
Some of the key players operating in the global air suspension compressor market include Arnott, AT Parts Germany, Duralo, Guangzhou CYS Auto Parts, Guangzhou Tech Master Auto Parts Co, Miessler Automotive GmbH & Co. KG, Mopar (Stellantis), VIAIR Corporation, Zhejiang Bocheng Automotive Technology Co. Ltd., and ZF Friedrichshafen AG.KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging air suspension compressor market trends and dynamics
- In-depth market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2030
- Extensive analysis of the air suspension compressor market is conducted by following key product positioning and monitoring of the top competitors within the market framework
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities
- The global air suspension compressor market forecast analysis from 2020 to 2030 is included in the report
- The key market players within air suspension compressor market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the air suspension compressor industry
GLOBAL AIR SUSPENSION COMPRESSOR MARKET SEGMENTS
By VEHICLE TYPE
- Passenger Vehicle
- Commercial Vehicle
By SALES CHANNEL
- OEM
- Aftersales
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
- Arnott
- AT Parts Germany
- Duralo, Guangzhou CYS Auto Parts
- Guangzhou Tech Master Auto Parts Co
- Miessler Automotive GmbH & Co KG
- Mopar (Stellantis)
- VIAIR Corporation
- Zhejiang Bocheng Automotive Technology Co Ltd
- ZF Friedrichshafen AG
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Table of Contents
Executive Summary
According to a new report titled, “Air Suspension Compressor Market by Vehicle Type and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global air suspension compressor market size was valued at $1,987.3 million in 2020, and is projected to reach $3,909.1 million by 2030, registering a CAGR of 6.9% from 2021 to 2030. By volume, the global air suspension compressor reached7,566 thousand in 2020, and is projected to reach 12,935 thousand by 2030, registering a CAGR of 5.4%. Asia-Pacific was the highest revenue contributor, accounting for $916.1 million in 2020, and is estimated to reach $1,974.1 million by 2030, with a CAGR of 7.9%.The global air suspension compressor is expected to witness significant development, owing to factors such as increased manufacturing and sales of commercial & passenger vehicles and increased demand for premium & luxury cars. However, the market growth is likely to be hampered by high development of air suspension compressor systems and fluctuations in raw material prices. On the contrary, increased aftermarket demand for air suspension and related components as well as rise in demand for lightweight air suspension systems are anticipated to generate remunerative opportunities for the air suspension compressor market growth in the coming years.
Various air suspension components now function electrically as a result of increased vehicle production and the introduction of electric automobiles. For instance, China invested $60 billion to support the electric vehicle sector, and has formed an ambitious plan to convert all electric or hybrid cars by 2035. Furthermore, in January 2021, General Motors made $27 billion investment, which involves manufacturing of 30 new electric vehicles by 2025. As a result, suspension system manufacturers all around the world have developed electrically controlled components, which boost the system's efficiency.
Furthermore, key players in the air suspension compressor market are implementing various strategies such as partnership and acquisition to strengthen market position and expand their business. For instance, in May 2020, ZF Friedrichshafen AG acquired commercial vehicle technology supplier, WABCO. The merging of these two successful firms will offer a new dimension of innovation and competence to commercial vehicle system technologies such as air suspension compressor systems. Such strategic moves will expand the air suspension compressor market during the forecast period. However, numerous manufacturers in the global
halted their business production, owing to the implementation of lockdown in the countries such as China, the U.S., and India attributable to the outbreak of the pandemic. This disruption has a direct impact on the sales of air suspension compressor. However, it is expected that the reopening of production facilities and the introduction of coronavirus vaccines will lead to the reopening of air suspension compressor firms.
Some of the key players operating in the global air suspension compressor market include Arnott, AT Parts Germany, Duralo, Guangzhou CYS Auto Parts, Guangzhou Tech Master Auto Parts Co, Miessler Automotive GmbH & Co. KG, Mopar (Stellantis), VIAIR Corporation, Zhejiang Bocheng Automotive Technology Co. Ltd., and ZF Friedrichshafen AG.
Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging air suspension compressor market trends and dynamics
- By vehicle type, the passenger vehicle segment has dominated the air suspension compressor, in terms of revenue in 2020 and is projected to grow at a CAGR of 71% during the forecast period
- By sales channel, the OEM segment registered highest growth in the air suspension compressor market in 2020
- The Asia-Pacific region is projected to register the highest growth rate in the coming years
- The report provides an extensive analysis of the air suspension compressor trends and emerging opportunities of the market
Companies Mentioned
- ARNOTT
- PARTS GERMANY (AEROSUS)
- DURALO
- GUANGZHOU CYS AUTO PARTS CO., LTD.
- GUANGZHOU TECH MASTER AUTO PARTS CO. LTD.
- MIESSLER AUTOMOTIVE GMBH & CO. KG
- MOPAR
- VIAIR CORPORATION
- ZEHIJANG BOCHENG AUTOMOTIVE TECHNOLOGY CO. LTD
- ZF FRIEDRICHSHAFEN AG
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 237 |
Published | February 2022 |
Forecast Period | 2020 - 2030 |
Estimated Market Value ( USD | $ 1987.3 million |
Forecasted Market Value ( USD | $ 3909.1 million |
Compound Annual Growth Rate | 7.0% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |