Air Suspension Market

Air suspension is a type of suspension system that uses air springs to provide a smoother and more comfortable ride. It is commonly used in commercial trucks and buses, as well as luxury cars and SUVs. Air suspension systems have become increasingly popular over the years due to their ability to provide superior ride quality, handling, and performance compared to traditional suspension systems.

One of the main advantages of air suspension is its ability to adjust the ride height of the vehicle. This allows the driver to customize the ride height to suit their specific needs and preferences, such as lowering the vehicle for improved aerodynamics or raising it for better ground clearance. Air suspension systems can also be used to adjust the stiffness of the suspension, allowing the driver to fine-tune the handling characteristics of the vehicle.

Another advantage of air suspension is its ability to provide a smoother and more comfortable ride compared to traditional suspension systems. Air springs are able to absorb road shocks and vibrations more effectively, resulting in a more comfortable ride for passengers. This makes air suspension an ideal choice for commercial trucks and buses, which often travel long distances and require a high level of comfort for passengers.

In addition to its performance and comfort benefits, air suspension also offers improved durability and reliability. Air springs are less prone to wear and tear compared to traditional suspension components, such as springs and shock absorbers. This means that air suspension systems can last longer and require less maintenance over time, resulting in cost savings for vehicle owners.

Air suspension systems also have applications in the field of motorsports, where they are used to improve the handling and performance of high-performance cars. Air suspension allows drivers to adjust the ride height and stiffness of their vehicle on-the-fly, giving them a competitive edge on the track.

Air Suspension Market Dynamics

Drivers in Air Suspension Market

The air suspension market has seen an increase in demand due to rising sales in the global commercial vehicle sector. Air suspension has become a standard feature in heavy trucks, semi-trailers, and multi-axle buses in European and North American countries. Additionally, manufacturers in China, South Korea, and India have started to offer air suspension in their heavy commercial vehicles as well. Major suppliers such as Z.F. Friedrichshafen AG, Continental AG, and Hendrickson are employing various strategies to meet the rising demand and strengthen their presence in the market.

Fleet owners in some countries are installing air suspension in their vehicles to enjoy additional benefits. In India, for instance, installing air suspension in one axle increases the carrying capacity of a vehicle by 1 to 2 tons. Such benefits and upcoming regulations on cabin comfort for heavy trucks are expected to drive OEMs to offer air suspension in the semi-trailers segment. Moreover, a good quality ride provides comfort to passengers, minimizes cargo damage, and reduces driver fatigue on long journeys. Suspension systems play a crucial role in the quality of the ride and control of car handling. The need for higher driving comfort, particularly in ambulances to avoid further injury to the already ill passengers, has further increased the demand for air suspension. As a result, the air suspension market is expected to continue to grow in the coming years.

Restraints in Air Suspension Market

The increasing use of advanced technologies has led to significant improvements in automotive suspension systems, particularly with the adoption of electronically controlled air suspension systems, which offer greater comfort and convenience. However, the growing complexity of these systems has also led to significant cost increases for system design, prototyping, and production, which can pose a major challenge for many manufacturers. The incorporation of air suspension in existing vehicle models requires major design modifications and increases the cost of the system, as it involves adding a significant number of sensors, solenoid valves, and electronic control units. This makes it difficult for OEMs to offer air suspension systems in mid-segment cars, especially in developing countries where consumers are unwilling to pay for expensive technology. While advanced technologies and high demand for premium vehicles drive the market in developed regions such as Europe and North America, the high cost of air suspension systems remains a major challenge in cost-sensitive regions such as Asia Oceania and Rest of the World, where the majority of the market is made up of economy segment cars. The high development and adoption cost of air suspension systems may adversely affect the growth of the air suspension market. Moreover, the complex structure of these systems often requires skilled workers for their maintenance, which can further increase the cost of vehicle ownership and reduce their shelf life.

Opportunities in Air Suspension Market

The automotive industry has been facing significant challenges to reduce CO2 emissions and improve fuel efficiency, which has led to an increasing trend of lightweight vehicles. One major component contributing to the weight of light-duty vehicles is the chassis and suspension system, which includes the suspension, steering, brakes, tires, and wheels. Conventional suspension systems are typically heavy, which increases the overall weight of the vehicle and negatively impacts fuel consumption. However, manufacturers in the air suspension industry have identified opportunities to reduce the weight of these systems while maintaining their performance.

To achieve this, suspension manufacturers are constantly working to find the optimal material composition to reduce the weight of chassis and components. For instance, Kenworth Truck Company in the United States was able to reduce the weight of its suspension system by 400 pounds by using an air ride suspension system. Meanwhile, SAF Holland S.E. has introduced a lightweight CBX23 AeroBeam fixed frame air suspension that offers an ideal balance of strength and weight, resulting in enhanced performance in heavy trucks. Moreover, air springs made up of textile reinforced rubber can further decrease the weight of the suspension systems.

Due to these advancements, other players in the air suspension industry are expected to develop lightweight air suspension systems and related components to tap into new business opportunities in the coming years. Furthermore, the growth of the market is also driven by factors such as the rise in global commercial vehicle sales and the increase in demand for premium and luxury vehicles. However, the high development and adoption cost of air suspension systems may pose a challenge for the market's growth. Nonetheless, the increasing demand for lightweight air suspension systems and rising aftermarket demand for air suspension and related components are expected to create numerous opportunities for the growth and expansion of the air suspension market.

Challenges in Air Suspension Market

Challenges in the air suspension market arise from the presence of local suppliers who offer customized air suspension components in the aftermarket for passenger cars, heavy trucks, and buses. While established players such as Z.F. Friedrichshafen AG, Continental AG, Thyssenkrupp AG, Hendrickson, and Firestone Industrial Products LLC offer a wide range of air suspensions and other components in the O.E. market, consumers prefer to install air suspension in the aftermarket. The increasing passenger vehicle and heavy vehicle parc offers more market opportunities for air suspension. The rising adoption of air suspension will propel the replacement and retrofit demand, resulting in intense competition for established companies and may adversely affect the growth of the market.

On the other hand, countries have implemented laws and regulations that make it mandatory for vehicles to install advanced systems for comfort while driving, such as air suspension system, within a stipulated time period. Governments across the globe have made mandatory rules and regulations to replace metal-based spring systems in vehicles with air suspension systems keeping safety and security in mind. This has enabled vehicle manufacturers to install air suspension systems in vehicles, eventually leading to the growth of the air suspension market.

Furthermore, automobile manufacturers need to obtain safety ratings from organizations such as the Insurance Institute of Highway Safety (IIHS), New Car Assessment Program (NCAP), and International Centre for Automotive Technology (ICAT) to access sales licenses of vehicles in the air suspension market. Therefore, all these safety rules and regulations made by governments are expected to contribute to the growth of the market in the coming years, particularly in the premium and luxury vehicle segments.

The electronically controlled air suspension systems are expected to grow at a rapid pace, with North America leading the market due to the high adoption rate of technologically advanced systems. Several popular passenger vehicle models such as Audi A8, Mercedes S-Class, Porsche Cayenne, Land Rover Discovery, and Volkswagen Touareg come with electronically controlled systems as a standard fitment in selected trims. In Europe, trucks and buses have adoption rates of nearly 40-50% and 55-60%, respectively, as of 2022. Major players such as Volvo, Daimler AG, Scania, and MAN offer electronically controlled systems for trucks and buses in the European market.

Among different vehicle types, the trucks segment is expected to hold the largest share of the air suspension market. This is because of the increasing demand for improved ride quality in special purpose applications such as refrigerated trucks and fragile goods transport worldwide. Asia, including countries like China and India, has seen huge economic activities, which have driven demand for commercial vehicles, including trucks, in the region. Improved environmental regulations and the demand for improved ride quality prompted OEMs to introduce the air suspension system in their models for the region. Hence, Asia Pacific is expected to hold the largest market share of the air suspension market for the Trucks segment. In addition, countries in the Rest of the World, such as Brazil and South Africa, are also expected to drive demand for air suspension systems due to increased economic activities.

The Asia Pacific region is expected to dominate the global air suspension market due to several factors. The region already holds a significant share of the global market in the Trucks and Buses segment, with over 55% market share. As the effects of the pandemic continue to fade from the automotive sector, commercial vehicle production has picked up pace and is expected to grow at a rate of approximately 3.5% over the next 5 years. Additionally, the region has seen an increase in the sales of luxury vehicles and premium SUVs, which can be attributed to the increased spending power of people in the economy.

In the premium vehicle segment, customers demand a high-quality ride experience from their vehicles, leading OEMs to increase the adoption of air suspension systems in their products. The demand for air suspension systems is restricted to the premium segment in the passenger car segment and in trucks and buses in the commercial vehicle segment.

China, India, Japan, and South Korea hold the majority of the share in the region for vehicle ownership, thus influencing the market. China is expected to remain the largest market within the region, owing to its large population and increased demand for passenger vehicles post-pandemic. The country has already resumed production levels close to pre-pandemic levels. By value, India is expected to be the fastest-growing market due to increased demand for passenger vehicles as the country's economy recovers from the pandemic's effects. India also has a wide public transport system concentrated in populous cities, where passengers demand comfortable ride experiences, driving the air suspension market in India.

Passenger car customers in Japan and South Korea have also started to demand better ride quality in their cars, leading to increased adoption rates of air suspensions in these countries. These factors are expected to make the Asia Pacific region a dominating market globally for air suspension systems.

The demand for advanced and upgraded components in the automotive industry has increased globally, resulting in the need for lightweight vehicles. To meet this requirement, automobile manufacturers are favoring lightweight suspension systems over metal spring-based ones. This trend has led to the usage of lightweight components for the production of air suspension systems. As a result, the increasing demand for lightweight air suspension systems has positively impacted the growth of the market during the forecast period.

In recent years, the air suspension market has witnessed significant developments driven by increasing demand for lightweight and advanced air suspension systems. Manufacturers are investing heavily in research and development to come up with innovative products and solutions that cater to the changing market demands.

One of the major developments in the air suspension market is the adoption of digital technologies. Manufacturers are integrating digital systems with air suspension systems to provide enhanced control and performance. For instance, WABCO Holdings, a leading manufacturer of air suspension systems, has launched a digital air control system that allows drivers to adjust the ride height of their vehicles using an app on their smartphones. This system provides real-time monitoring of vehicle height and stability, and alerts drivers in case of any anomalies.

Another notable development in the air suspension market is the increasing use of lightweight materials. Manufacturers are exploring various material compositions to reduce the weight of air suspension systems without compromising on performance. SAF Holland, for instance, has introduced a lightweight CBX23 AeroBeam fixed frame air suspension that provides an optimal balance of strength and weight for enhanced performance in heavy trucks. Kenworth Truck Company has managed to reduce the weight of the suspension system by 400 pounds by using an air ride suspension system.

Furthermore, there is a growing trend towards the adoption of air suspension systems in mid-sized and smaller vehicles. This is driven by increasing demand for comfort and improved ride quality among consumers. Companies are investing in research and development to develop air suspension systems that are compatible with smaller vehicles.

In terms of geographical developments, the Asia Pacific region is expected to dominate the air suspension market in the coming years. The region holds a significant share of the global market in the trucks and buses segment, with China, India, Japan, and South Korea holding the majority of the share. As the pandemic effect withers off from the automotive sector in this region, the commercial vehicle production has picked up pace and is estimated to grow at a rate of ~3.5% in the next 5 years. Sales of luxury vehicles and premium SUVs have also increased in this region, prompting OEMs to increase the adoption of air suspension systems in their products.

Dominating Companies in Air Suspension Market

• ZF FRIEDRICHSHAFEN AG
• CONTINENTAL AG
• THYSSENKRUPP AG
• MERITOR, INC.
• SAF HOLLAND SE
• HENDRICKSON
• FIRESTONE INDUSTRIAL PRODUCTS COMPANY, LLC
• VIBRACOUSTIC SE
• MANDO CORPORATION
• BWI GROUP
• ARNOTT INC.
• BILSTEIN
• AIR LIFT COMPANY
• INFINITY ENGINEERED PRODUCTS
• DUNLOP
• VB-AIRSUSPENSION
• LINK
• UNIVERSAL AIR SUSPENSION
• LIFTMATIC
• STEMCO
• SHANGHAI KOMMAN
• JAMNA AUTO

Recent Developments in Air Suspension Market

Hendrickson acquires Grupo Randon's air suspension business (March 2022): Hendrickson, a leading manufacturer of suspension systems and components for commercial vehicles, announced its acquisition of Grupo Randon's air suspension business in March 2022. The acquisition expands Hendrickson's global footprint and strengthens its product offerings in the South American market.

Continental acquires air suspension specialist, Vibratech (December 2020): Continental, a leading German automotive manufacturing company, announced its acquisition of Vibratech in December 2020. Vibratech specializes in air suspension systems for commercial vehicles and buses. Continental's acquisition of Vibratech strengthens its position in the commercial vehicle and bus markets.

WABCO and Hendrickson form partnership to develop air disc brakes and advanced suspension systems (May 2020): WABCO, a leading supplier of braking control systems and other advanced technologies for commercial vehicles, announced a partnership with Hendrickson in May 2020. The partnership focuses on developing air disc brakes and advanced suspension systems for the commercial vehicle market.

SAF-Holland acquires axle and suspension system supplier, York Transport Equipment (July 2019): SAF-Holland, a leading supplier of trailer suspension and axle systems, announced its acquisition of York Transport Equipment in July 2019. York Transport Equipment specializes in air suspension systems for trailers and other heavy-duty vehicles. The acquisition expands SAF-Holland's product offerings and strengthens its position in the North American market.

Hendrickson acquires Swedish air suspension manufacturer - In November 2021, Hendrickson, a global manufacturer and supplier of medium- and heavy-duty mechanical, elastomeric, and air suspensions, announced the acquisition of the Swedish air suspension manufacturer, Vibroacoustics Scandinavia AB (VAS). The acquisition will enable Hendrickson to expand its portfolio of air suspension products and offer a wider range of solutions to its customers.

WABCO partners with FAW Jiefang - In March 2020, WABCO, a leading global supplier of braking control systems and other safety technologies for commercial vehicles, announced a strategic partnership with FAW Jiefang, a leading Chinese truck manufacturer. As part of the partnership, WABCO will supply its advanced air suspension technology to FAW Jiefang for its heavy-duty trucks.

Continental acquires full ownership of air suspension systems joint venture - In January 2020, Continental, a leading automotive supplier, announced that it had acquired full ownership of its air suspension systems joint venture with Qingdao Vland Auto Parts Co., Ltd. The joint venture, called Continental Air Spring Systems (CAIS), had been established in 2013 to develop and produce air suspension systems for the Chinese market.

Hendrickson acquires air suspension systems manufacturer - In May 2019, Hendrickson announced the acquisition of the air suspension systems manufacturer, R.I.D.E. Control Systems. The acquisition added R.I.D.E.'s proprietary technology and innovative products to Hendrickson's portfolio of air suspension solutions.

Firestone Industrial Products expands product line with acquisition - In January 2019, Firestone Industrial Products, a leading manufacturer of air springs and related products for commercial vehicles, announced the acquisition of the air suspension business of Airmaster Australia Pty Ltd. The acquisition expanded Firestone's product line and distribution network in the Asia-Pacific region.

In conclusion, air suspension is a highly versatile and effective suspension system that offers a range of benefits, including improved ride quality, handling, performance, and durability. As more and more vehicles adopt air suspension technology, we can expect to see even greater advances in this field in the years to come.