Air Suspension Market to Garner $9.22 Bn, Globally, by 2026 at 6.5% CAGR, Says Allied Market Research

Rise in global commercial vehicle sales and increase in demand for premium and luxury vehicles have boosted the growth of the global air suspension market

PORTLAND, Oregon, Nov. 21, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Air Suspension Market by Vehicle Type (Light Duty Vehicle, Trucks, and Bus), Component (Air Spring, Tank, Solenoid Valve, Shock Absorber, Air Compressor, Electronic Control Unit (ECU), Height & Pressure Sensor, and Others), Technology Type (Electronic Controlled and Non-Electronic Controlled), and Sales Channel (Original Equipment Manufacturers (OEMs) and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2018–2026". According to the report, the global air suspension industry was pegged at $5.56 billion in 2018 and is expected to reach $9.22 billion by 2026, registering a CAGR of 6.5% from 2019 to 2026.

Determinants of growth–

Surge in global commercial vehicle sales and rise in demand for premium and luxury vehicles have boosted the growth of the global air suspension market. However, high development and adoption cost of air suspension hampers the market. On the contrary, rise in demand for the lightweight air suspension system and increase in rising aftermarket demand for air suspension and related components are expected to create lucrative opportunities in the near future.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/5586

The non-electronic segment dominated the market–

Based on technology, the non-electronic segment held the largest share in 2018, contributing more than four-fifths of the global air suspension market, owing to the presence of vehicles with non-electronic suspension system and better efficiency in present. However, the electronic segment is anticipated to portray the fastest CAGR of 7.5% during the forecast period, due to the introduction of electric vehicles across the globe and demand for lightweight suspension systems in vehicles.

The truck segment to manifest fastest CAGR by 2026–

The truck segment dominated the market in 2018, accounting for more than one-third of the global air suspension market. The segment would dominate the market throughout the study period. Moreover, the segment is expected to register the fastest growing CAGR of 6.8% during 2019-2026. This is due to the increase in demand for an efficient transportation system.

Asia-Pacific dominated the market in 2018, followed by North America–

The global air suspension market across Asia-Pacific held the largest share in 2018, contributing more than one-third of the market, owing to the rise in sale & production of vehicles and adoption of advanced technology along with the constant development. Furthermore, the region is expected to manifest the fastest CAGR of 6.9% throughout the forecast period. On the other hand, North America held the second-largest share in 2018, accounting for nearly one-third of the total market share.   

For purchase inquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/5586

Major market players

• Mando Corporation
• Continental
• Wabco
• Firestone Industrial Products
• Hendrickson
• Accuair Suspension
• Hitachi
• BWI Group
• SAF-Holland
• ThyssenKrupp AG

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Similar Reports:

Automotive Hydrostatic Fan Drive System Market Consumption to Hit $620.3 million by 2025

Automotive Catalyst Market is Projected to Reach $31,815.7 Million by 2025

Turbocharger Market is Generating Revenue of $19 Billion by 2022

Automotive Seat Market is Estimated to Generate $101,397.20 million by 2025

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]

Web: https://www.alliedmarketresearch.com

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg