Automotive Air Suspension System Market Size

Automotive Air Suspension System Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The global air suspension market for automobiles is set to rise, with a current value of $ 19.3 billion in 2024 projected to grow to $26.9 billion by 2032. Its CAGR from 2024 to 2032 is 4.36%. The increasing demand for enhanced comfort, improved vehicle handling, and the increasing use of luxury cars are all important contributors to this growth. The air suspension system is also being improved with the integration of electronic control systems and the application of active suspension systems. The key players in the air suspension system market, including Continental AG, Wabco Holdings Inc., and ZF Friedrichshafen AG, are investing heavily in research and development to expand their product offerings. Strategic alliances and the introduction of new products that meet the needs of consumers are expected to drive market growth. The air suspension system market is well positioned to take advantage of the increasing trend towards vehicle comfort and performance.

Regional Market Size

Regional Deep Dive

The air-spring market is experiencing significant growth in several regions, owing to the increasing demand for comfort, improved vehicle handling, and the rising adoption of luxury vehicles. North America is characterized by the presence of leading vehicle manufacturers and the growing trend toward electric vehicles, which are equipped with advanced suspension systems. Europe is characterized by stringent regulations concerning vehicle emissions and safety, which are driving the manufacturers to develop air-spring systems with enhanced performance. In the Asia-Pacific region, rapid urbanization and the rise of the middle class are driving the adoption of new vehicles and the demand for advanced suspension systems. The Middle East and Africa are characterized by the development of the automotive industry and the growing penetration of luxury vehicles. Latin America is gradually adopting air-spring systems as consumers’ preferences are shifting toward comfort and performance.

North America

• North America is now undergoing a tremendous increase in the production of electric cars. Air suspension is being used by Ford and by Tesla to improve the ride and performance of these electric cars.
• The new laws of the market, the more severe fuel economy regulations, have made the manufacturers adopt more light-weight and more efficient air suspensions. The Air Lift Company is a world leader in this field.
• The growing trend towards personalisation in the car market has increased the demand for air suspension kits, and a number of brands have become well known among enthusiasts, such as Belltech and RideTech.

Europe

• The aim of the European car makers is more and more to achieve economy in their products. Continental and ZF Friedrichshafen are now developing so-called eco-friendly air suspensions, which reduce the weight of the vehicle and thus save on fuel.
• European Union regulations have pushed manufacturers to adopt air suspension systems, which has led to the emergence of new alliances between the automobile industry and high-tech companies.
• In Europe, the rise of self-driving cars is influencing the design of air suspensions, and companies like Bosch are integrating smart technologies to improve stability and comfort.

Asia-Pacific

• The Asian-Pacific region is experiencing rapid growth in the automobile industry. The economies of China and India are developing rapidly, and they are investing heavily in the public road network. As a result, the demand for high-tech air suspension systems for both passenger and commercial vehicles is growing.
• Local manufacturers like Suncore Industries and WABCO are constantly developing new products to meet the specific needs of the local market.
• In view of the government's drive to promote electric vehicles and sustainable transport, air-springed suspensions are being adopted, as they offer improved ride quality and greater efficiency.

MEA

• There is a great deal of activity in the field of the automobile in the Middle East and Africa. The United Arab Emirates and Saudi Arabia, for example, are developing smart cities, which are putting a great deal of emphasis on the development of the transport sector and, in particular, on the development of smart cities, which require advanced vehicle technology, including air suspension.
• The saga of the Al Futtaim Motors company began in 1895. The company has been importing and assembling automobiles for a number of years.
• In this region, the popularity of off-road vehicles is causing the demand for a sturdy air suspension system to increase the performance of the vehicle in all kinds of terrain.

Latin America

• Latin America is gradually adopting advanced automotive technology. In the passenger car and truck sectors, increasing demand for comfort and performance is driving the use of air suspension systems.
• In the meantime, local manufacturers are beginning to enter into a partnership with the international suppliers of the industry, and the local manufacturers are beginning to invest in the air-spring technology of the likes of Volkswagen and Fiat.
• A number of economic factors, such as currency fluctuations and free-trade agreements, have influenced the price and availability of air-spring systems, which has made the manufacturers adjust their strategies accordingly.

Did You Know?

“The air suspension enables the vehicle to be lowered at high speed, thereby improving its aerodynamics and saving fuel.” — Automotive News

Segmental Market Size

Air suspension systems play a crucial role in enhancing the comfort and performance of vehicles, and the business is currently undergoing steady growth. The main reasons for this are the increasing popularity of luxury cars and the demand for more comfort and luxury, and government policies that require fuel efficiency and emissions reductions. Furthermore, air suspension systems, with their adaptive damping and electronic control, are becoming ever more popular.

In the present day, the adoption of air suspension is at the experimental stage, with the most notable examples being the luxury brands of Mercedes-Benz and Audi, which have already introduced them in their prestige models. Its most important application is to commercial vehicles, particularly buses, trucks and lorries, where it improves the ride and load carrying. However, the trend towards increased energy efficiency is also accelerating its growth, and air suspension is a major contributor to this. In the future, air suspension will be controlled by advanced sensors and control systems that optimize performance and responsiveness.

Future Outlook

From 2024 to 2032, the global market for automotive air suspension systems is projected to grow at a CAGR of 4.36%, from $19.3 billion to $26.9 billion. The growth is mainly driven by the growing demand for comfort and performance in the luxury and commercial vehicle segments. The penetration of air suspension systems into all vehicle segments is expected to reach more than 30% of new models by 2032.

During the period under review, the global market for e-scooters was valued at billions of dollars. Moreover, stricter regulations on the reduction of emissions and the reduction of fuel consumption in the coming years will encourage the use of air suspension, which can contribute to better aerodynamics and energy savings. Furthermore, the electrification of vehicles and the development of driverless vehicles will play a key role in shaping the future of the market, as air suspension can also improve the driving experience in these advanced vehicles.