Worldwide Air Suspension Market Expected To Reach $4.36 Billion By 2020

Date: 2016-09-18

Worldwide Air Suspension market was valued at $3.04 billion in 2015, and it is expected to grow at a CAGR of 7.54% during 2016 to 2020, reach $4.36 Billion by 2020. The global market for air suspension is driven by growing significance of higher driving comfort which has spurred the demand for luxury buses equipped with air suspension systems, and enhanced safety regulations which have forced manufacturers to come up with technologically advanced suspension systems.

The major drivers for air suspension market are rising demand for comfort and luxury, as a result of increased disposable income, increased preference towards luxury public transport for long distance travel among others are together driving the market for air suspension systems globally.

Passenger cars are estimated to constitute the largest market share, by value and volume, of the Air Suspension Market. Luxury and comfort are the major highlights of air suspension and hence they are mainly limited to the premium segment of passenger cars. Developed markets already have a high penetration when it comes to air suspension in passenger cars, and this popularity is also growing in emerging markets making passenger cars the largest market segment.

The Air Suspension Market has been segmented into four regions, namely, Asia-Pacific, Europe, North America and Rest of the World. OEMs in Europe are highly advanced and are working on enhancing their technical capabilities and thus are able to cater a larger segment of the air suspension system demand. Europe is the only region where 15-20% of passenger cars sold are fitted with air suspension systems.

According to survey, the region of Air Suspension market share as following:
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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520

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