What is Global Passenger Car Air Suspension Market?
The Global Passenger Car Air Suspension Market is a sector that focuses on the production and distribution of air suspension systems for passenger cars. Air suspension is a type of vehicle suspension powered by an electric or engine-driven air pump or compressor. This compressor pumps the air into a flexible bellows, usually made from textile-reinforced rubber. The air pressure inflates the bellows, and raises the chassis from the axle. The market is vast and diverse, catering to a wide range of vehicles from luxury cars to everyday passenger vehicles. The air suspension system not only provides a smooth ride, but also improves the vehicle's handling and performance. The market is driven by the increasing demand for comfort and luxury, as well as the growing awareness about vehicle safety. However, the high cost of air suspension systems and the lack of standardization are some of the challenges faced by this market.
Electronically Controlled Air Suspension, Non-Electronically Controlled Air Suspension in the Global Passenger Car Air Suspension Market:
The Global Passenger Car Air Suspension Market is segmented into Electronically Controlled Air Suspension and Non-Electronically Controlled Air Suspension. The Electronically Controlled Air Suspension is the most popular type, accounting for over 80% of the market. This system uses sensors and electronic components to adjust the ride height and quality. It offers superior comfort and handling, and is commonly used in luxury cars. On the other hand, the Non-Electronically Controlled Air Suspension is a simpler system that does not use electronic components. It is cheaper and easier to maintain, but does not offer the same level of comfort and performance. Despite its lower market share, it is still a vital part of the market, catering to the needs of budget-conscious consumers and commercial vehicles.
Sedan, SUV, Others in the Global Passenger Car Air Suspension Market:
The Global Passenger Car Air Suspension Market is used in various types of vehicles, including Sedans, SUVs, and others. Sedans are the main users of air suspension systems, accounting for about 70% of the market. These cars are popular for their comfort and luxury, making them the perfect fit for air suspension systems. SUVs, on the other hand, use air suspension systems to improve their off-road capabilities and ride comfort. The system allows the vehicle to adjust its ride height, making it easier to navigate rough terrains. Other vehicles, such as vans and minivans, also use air suspension systems to improve their ride quality and load-carrying capabilities.
Global Passenger Car Air Suspension Market Outlook:
The Global Passenger Car Air Suspension Market is a thriving sector with a promising future. In 2022, the market was valued at US$ 958.4 million and is expected to reach US$ 1273.9 million by 2029, growing at a CAGR of 4.1% during the forecast period 2023-2029. The market is dominated by the top 3 players, who hold about 60% of the global shares. Europe is the main market for air suspension systems, accounting for about 70% of the global market. The popularity of luxury cars and the high awareness about vehicle safety in the region are the main drivers of the market. The market is mainly composed of Electronically Controlled Air Suspension systems, which hold a share of over 80%. Sedans are the main users of these systems, accounting for about 70% of the market.
| Report Metric | Details |
| Report Name | Passenger Car Air Suspension Market |
| Accounted market size in 2022 | US$ 958.4 million |
| Forecasted market size in 2029 | US$ 1273.9 million |
| CAGR | 4.1% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Continental, Wabco, Firestone, ThyssenKrupp Bilstein, Hitachi, Dunlop, BWI Group, Accuair Suspension |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
