What Has Been the Progress and Growth of the Air Suspension Market in Recent Years?
The air suspension market has seen considerable growth due to a variety of factors.
• The air suspension market is set to grow from $6.61 billion in 2024 to $7.08 billion in 2025 at a CAGR of 7.2%.
The growth is linked to the automotive industry's expansion, the demand for more comfort in vehicles, performance enhancement needs, and rising demand for luxury vehicles.
How Does the Forecast Look for the Air Suspension Market Size?
The air suspension market is expected to maintain its strong growth trajectory in upcoming years.
• The air suspension market is forecast to reach $9.23 billion by 2029, at a CAGR of 6.9%.
The growth is attributed to increasing vehicle electrification, regulatory standards, greater demand for commercial vehicles, rising vehicle safety regulations, and increased R&D investments. Trends include demand for lightweight air suspension systems, advanced technology adoption, and integration with autonomous vehicles.
What Factors Are Driving Growth In The Air Suspension Market?
The increasing demand for commercial vehicles is expected to fuel the growth of the air suspension market. Commercial vehicles, which transport goods or passengers, are seeing higher demand due to expanding economic activities and the need for better transportation solutions. Air suspension systems offer superior ride comfort and reduce driver fatigue, making them essential for long-distance, heavy-load commercial vehicles. These systems also enhance fuel efficiency. In 2023, the International Energy Agency reported global sales of 66,000 electric buses and 60,000 medium and heavy-duty trucks in 2022, representing a notable portion of worldwide sales. Thus, the growing demand for commercial vehicles is boosting the air suspension market.
How Are The Segments Defined Within The Global Air Suspension Market?
The air suspension market covered in this report is segmented –
1) By Component: Air Spring, Tank, Solenoid Valve, Shock Absorber, Air Compressor, Electronic Control Unit (ECU), Height And Pressure Sensor, Air Reservoir
2) By Vehicle Type: Light Duty Vehicles, Trucks, Buses
3) By Technology: Electronic Controlled, Non-Electronic Controlled
4) By Sales Channel Type: Original Equipment Manufacturers (OEMs), Aftermarket
5) By End-User Industry: Automotive, Transportation And Logistics
Subsegments:
1) By Air Spring: Rubber Air Springs, Fabric Air Springs, Rolling Lobe Air Springs, Bellows Air Springs
2) By Tank: Air Storage Tanks, Steel Air Tanks, Aluminum Air Tanks
3) By Solenoid Valve: Single Solenoid Valve, Double Solenoid Valve, Pressure Control Solenoid Valve
4) By Shock Absorber: Pneumatic Shock Absorbers, Electronically Controlled Shock Absorbers
5) By Air Compressor: Single-Stage Air Compressors, Multi-Stage Air Compressors, Electric Air Compressors
6) By Electronic Control Unit (ECU): ECU for Load-Leveling, ECU for Suspension Damping, ECU for Dynamic Control
7) By Height And Pressure Sensor: Height Sensors (Measuring Vehicle Height), Pressure Sensors
8) By Air Reservoir: Plastic Air Reservoirs, Metal Air Reservoirs, Composite Air Reservoirs
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How Are New Trends Expected To Influence The Growth Of The Air Suspension Market?
Leading companies in the air suspension market are focused on developing advanced control and suspension products to provide superior suspension solutions for various vehicle applications. These products work together to offer a smoother ride, better handling, and the ability to adjust the vehicle's height based on driving conditions and cargo load. For example, in November 2023, DMA Industries, a US-based manufacturer of aftermarket accessories, launched RideMaster, which includes air struts, springs, shocks, coil springs, control arms, and small chassis components. Available in both active and passive configurations, the product line matches the original part's damping and performance and is made in a tariff-free zone to offer exceptional value while maintaining quality.
Who Are the Key Players In The Air Suspension Market?
Major companies operating in the air suspension market are:
• Hitachi Ltd.
• AB Volvo
• ZF Friedrichshafen AG
• ThyssenKrupp AG
• Continental AG
• Parker Hannifin Corporation
• Mando Corporation
• KYB Corporation
• Dorman Products
• Hendrickson USA L.L.C
• SAF-HOLLAND SE
• BWI Group
• STEMCO Products Inc.
• Air Lift Company
• Timbren Industries
• Dunlop Suspension Systems
• Viair Corporation
• Sumitomo Electric Industries Ltd.
• Wabco Holdings Inc.
• Accuair Suspension
What Is The Most Dominant Region In The Air Suspension Market?
Europe was the largest region in the air suspension market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the air suspension market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
