Automotive Air Suspension System Market Information Report, By Technology (Manual Air Suspension and Electronic Air Suspension), By Component (Shock Absorber, Air Spring, Air Compressor, Air Reservoir, Height Sensor, Electric Control Unit, Others), By Vehicle Type (Passenger Car and Commercial Vehicle), and By Region.
The global automotive air suspension is experiencing a simultaneous growth with the increasing
demand for luxury cars. Since its inception in the early 1900s, it has pierced the automotive industry
extensively and is currently eyeing for an impressive market growth during the forecast period
(2017-2023), as reported by Market Research Future (MRFR) in an intense study.
Burgeoning industries and rapid urbanization have given birth to a new lifestyle in which the number
of people with disposable income is substantial. This has also proved beneficial for the luxury car
segment. Automotive air suspension system has widespread use in luxury cars where people often
look for comfort. Along with this, increasing sale of passenger and commercial vehicles are also
significantly boosting the market. The sir suspension technology is allowing people to have a much
more comfortable drive.
However, falling economy can be of severe consequences and pull down the market significantly. But
other factors such as eco-friendliness can impact its market growth optimistically. Air suspension
reduces carbon emission, an advantage that can assist the market in gaining momentum.
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The global automotive air suspension system market can be segmented by technology, components,
and vehicle type.
Based on technology, the market can be segmented into manual air suspension and electronic air
suspension. Manual air suspension system is currently leading the pack. However, electronic air
suspension is expected to register the highest CAGR as it provides variable-height suspension.
Component-wise, the market comprises shock absorber, air spring, air compressor, air reservoir,
height sensor, electric control unit, others. By absorbing shock impulses, shock absorbers provide a
comfortable ride to the passenger which is why it has the most significant market share.
By vehicle type, the market