Automotive Air Suspension System Market 2019 Receives A Rapid Boost an Economy Due to High Emerging Demands by Forecast To 2023
Market Research Future published a raw research report on Global Automotive Air Suspension System market that contains the information from 2017 to 2023. Automotive Air Suspension System market is expected to grow with the CAGR of approximately 7.56% from 2017 to 2023.
Taste the market data and market information presented through more than 85 market data tables and 54 figures spread in 140 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Automotive Air Suspension System Market Information from 2017 to 2023"
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One of the factors that driving the growth of the automotive air suspension system market is growing technology in the automotive industry. The growth in the automotive industry will result in the development of innovative technologies. The innovative technology will result in increased safety of the vehicle and passengers in the vehicles. The changing preference of the consumer towards latest technology will result in increased use of air suspension system in the vehicle. The increase installation of air suspension system will result in the growth of the market in the future. The other factors that are responsible for the growth of the automotive air suspension system market are increase in the production of the vehicle, rise in the disposable income, and growing demand for luxury vehicles. In North America, the demand for luxury vehicles, is growing, resulting in increased installation of air suspension system in vehicle. The rise in disposable income will result rising buying criteria of the vehicles, which will drive the market in future. In Asia Pacific region, there has been an increase in the production of passenger and commercial vehicle, which will result in rising demand of air suspension systems. This will result in the growth of automotive air suspension system market during the forecast period.
The market has been analyzed based on technology, component, vehicle type, and region. On the basis of technology, manual air suspension segment holds the largest share in the automotive suspension system market due to growing demand for manual air suspension in commercial vehicles. Electronic air suspension system is expected to grow at the highest CAGR during the forecast period due to the ability of the system to provide variable-height suspension for on and off road applications. The increased use of electronic air suspension system in on road and off road application, is expected to drive the segment growth in future. On the basis of components, Shock absorber is expected to dominate the automotive air suspension system market in future. The shock absorber reduces the jerk that is created due to rough terrain roads. This increased use of shock absorbers to improve the ride quality is expected to drive the market in future.
Commercial vehicle is expected to dominate the global automotive air suspension system market by vehicle type segment during the forecast period.
On the basis of vehicle type, commercial vehicle is expected to dominate the market during the forecast period due to increased use of air suspension. Commercial vehicles are for the purpose of transporting goods or paid for passengers. The commercial vehicle segment accounts for more than 30% of the global vehicle production. With the rise in commercial activities, the commercial vehicle segment is expected to witness rapid growth during the forecast period. This increase in the commercial activities will result in the rise in installation of air suspension systems in vehicles.
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We recognize the key players in the global automotive air suspension system market as Continental Ag (Germany), Hitachi, Ltd. (Japan), ThyssenKrupp Ag (Germany), Wabco Holdings Inc. (Belgium), Dunlop Systems And Components Ltd. (U.K.), Accuair Suspension (California), Firestone Industrial Products (U.S.), Hendrickson International Corporation (U.S.), Beijing West Industries Co., Ltd. (China), Mando Corporation (South Korea), ZF Friedrichshafen (Germany), LORD Corporation (U.S.), Volvo (Sweden), Air Lift Company (Michigan), and VB-Airsuspension (Netherlands).
This research report provides insights, on various levels of analysis such as industry analysis, and market share analysis for the leading players along with their profiles. It also helps in studying the target segments by providing views on emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios & strategies in the global air compressor market, including high-growth regions and/or countries, and political, & economic environments. The project report, further, provides views on both the historical market values and pricing & cost analysis.
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