The automotive air suspension market is anticipated to expand at a high CAGR over the forecast period.
An automotive air suspension is used in automobiles to achieve a self-leveling suspension that will provide an axle height that will be independent of the vehicle's weight that it is carrying. These air suspension systems are powered by a compressor or an electric pump which further pumps that air into a flexible bellow which is made of rubber. Air suspension is not the same as hydropneumatic suspension because they can use pressurized air instead of pressurized liquid. These automotive air suspension systems are used to provide drivers with a smooth and long-range drive in the vehicle.
The air suspension system is further replacing the traditional steel spring suspension because it is being widely adopted by heavy-duty trucks, passenger buses, tractors or trailers, and even in passenger vehicles. Also, these are now popular among the low-riding vehicles industry too. These automotive air suspension systems provide a variety of features like an air compressor which can be inside the hood or trunk of the vehicle, air springs present at each tire in the vehicle with heavy-duty vulcanized rubber, and a storage tank for compressed air. It can reduce harshness, vibration, and noise on the road which provides more comfort to the driver and takes less tear and wear on the suspension system with reduced harshness and vibrations.
The major market driver of the automotive air suspension market is the rise in global sales of heavy-duty and commercial vehicles that require these air suspension systems to provide smooth and efficient rides with tons of cargo carrying. Also, the demand for luxury vehicles and buses among the general public is growing significantly and these air suspension systems provide enhanced driver experience by reducing vibrations, noise, and harshness that can affect driver fatigue and overall travel experience. Therefore, the increase in demand for these vehicles is predicted to propel the automotive air suspension market.
Furthermore, the adoption of lightweight air suspension systems by major car manufacturers is growing with demand for lightweight vehicles with better fuel efficiency and travel experience. Also, the rising innovations and technological advancements in the automotive industry for electronically controlled air suspension systems are driving the market growth. The rising popularity of electric vehicles is also predicted to propel the air suspension market growth as these EVs need lightweight components to provide long-range and efficient rides therefore they will need air suspension systems during the manufacturing process.
The demand for commercial and heavy-duty vehicles is rising in demand significantly and these heavy-duty vehicles are necessary in trade and business operations globally. These heavy-duty vehicles carry tons of cargo which can affect the wear and tear of the vehicle and further increase fatigue of the driver and provide discomfort to them. Therefore, air suspension systems are used to avoid these situations in heavy-duty vehicles and provide smooth, noise-free, vibration-free, and fatigue-free drive for the driver. This air suspension system plays a crucial role in the smooth working of these heavy-duty vehicles and with a rise in demand for these commercial vehicles the market for automotive air suspension market is predicted to grow.
Several major car manufacturers are working towards reducing the overall weight of vehicles they produce. They are investing heavily in research and development to reduce weight from any component of the car if possible. These lightweight vehicles result in low harmful emissions in the environment and provide more fuel efficiency to the driver. These lightweight air suspensions provide a smooth and fatigue-free ride with better fuel efficiency due to reduced vehicle weight. Therefore, the rise in demand for lightweight materials for car manufacturing is anticipated to grow the market for automotive air suspension systems over the forecast period.
Constant technological advancements are being made in the automobile industry to enhance driver safety and overall experience in the vehicle. These include the air suspension system that is present in the automobile to provide a smooth ride without any tear and wear to the vehicle and a noise-free and vibration-free experience to reduce driver fatigue and increase the comfort level.
The new technology provides more efficiency than a normal air suspension system and is widely adopted by major automobile manufacturers such as Audi, Mercedes-Benz, Porsche, and, Land Rover. Therefore, this enhanced efficiency using an electronic air suspension system is predicted to propel the market.
The high cost of development and maintenance of this automotive air suspension system has increased the complexities of manufacturing vehicles. The new electronically controlled air suspension system is more efficient and comfortable for the driver but the cost of production, research and development, prototyping, and designing are rising significantly. Therefore, a need for high investments, in developing economies for manufacturers that have budget constraints and are not able to invest to produce more efficient and comfortable vehicles over the years.
Also, using this advanced technology of electronically controlled air suspension systems in existing models will be a huge challenge for automobile manufacturers. Therefore, the increased complexity and high-cost investments required are predicted to hinder the market over the forecast period.
Asia Pacific region is expected to show major growth in the automotive air suspension system market. The rapid growth in automotive production in the region with major market players like Toyota, Honda, and TATA that have developed and launched new vehicles for a wider customer base globally has contributed to the growth in the need for air suspension systems for these vehicles.
Also, the rising demand for commercial and heavy-duty vehicles in the region due to rising business operation cargo trade is fueling market growth in the region. An increase in the population raised the demand for vehicles in the region from various countries such as India, Japan, and other Asia Pacific regions which resulted in the growth of demand for automobiles which is further expected to boost the automobile suspension market in the region during the forecast period.