Rising Demand for Automobiles to Boost Expansion of Automotive Air Suspension System Market is prognosticated to strike 7.56% CAGR across the assessment period 2021 to 2023
Research Reports
Jan 18, 2021
Market Synopsis:
Air suspension systems are used in automobiles to ensure a smooth and comfortable ride. In this report, findings have been published by Market Research Future (MRFR) about the global automotive air suspension system market. It reveals that the market is prognosticated to strike 7.56% CAGR across the assessment period 2017 to 2023. It also unfolds that the market is supposed to earn a decent amount of revenue by the close of the forecast period.
The rising focus on passenger safety in the automotive industry is likely to fuel augmentation of the automotive air suspension system market in the nearby future. In addition, vehicle safety is another primary driver of the growth pattern of the market. The system ensures that the vehicle is least affected during rough journeys. Thus, it is anticipated to propel the expansion of the automotive air suspension system market in the upcoming years. Increasing demand for cars with air suspension system is anticipated to boost the sales of these systems. In addition, the growth of the automotive aftermarket is also presumed to expand the automotive air suspension system market over the review period.
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Market Segmentation:
On the basis of technology, the division of the automotive air suspension system market covers manual air suspension and electronic air suspension. Among these, the manual air suspension segment is anticipated to account for the larger share of the market during the assessment period. Meanwhile, the electric air suspension segment is projected to gain much popularity over the next couple of years. It is poised to strike the highest CAGR across the review period.
Based on components, the automotive air suspension system market has been segmented into shock absorber, air compressor, air reservoir, air spring, height sensor, electric control unit, and others.
On the basis of vehicle type, the segmental assessment of the automotive air suspension system market covers passenger vehicle and commercial vehicle.
Regional Analysis:
The geographical analysis of the global automotive air suspension system market is covered in this report. The study profiled four key regions – North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). These regional segments are then narrowed down to a country-bases level for further analysis. Asia Pacific is projected to hold a key position in the market place on the global front. It is supported by the rising demand for passenger vehicles in the region. The growth of the automotive industry in the region is supposed to lead the proliferation of the regional automotive air suspension system market. North America is also presumed to account for a significant market share in the near future. It is accredited to the rising income level of the population in the region.
Competitive Dashboard:
Continental Ag (Germany), ThyssenKrupp Ag (Germany), Hitachi, Ltd. (Japan), Wabco Holdings Inc. (Belgium), Accuair Suspension (California), Dunlop Systems and Components Ltd. (U.K.), Firestone Industrial Products (U.S.), Air Lift Company (Michigan), Beijing West Industries Co., Ltd. (China), Hendrickson International Corporation (U.S.), Mando Corporation (South Korea), LORD Corporation (U.S.), ZF Friedrichshafen (Germany), Volvo (Sweden), and VB-Air suspension (Netherlands) are few of the major players of the global automotive air suspension system market.
Market players are investing in robust technologies to innovate product portfolios. The focus is also on the introduction of products in alignment with the changing dynamics in the market. These factors are predicted to contribute to the intensification of the auto air suspension system market. The competitive landscape of this market is characterized by the presence of domestic and international players. Some of the growth methodologies to be executed by market participants over the next couple of years are – strategic alliances, collaborations, agreements, mergers & acquisitions, etc.
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Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com
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Tags:
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