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Outlook on the Air Suspension Compressor Global Market to 2027 - Featuring Arnott Air Suspension Products, AT Parts Germany and ZF Friedrichshafen Among Others
Global Air Suspension Compressor Market
Dublin, June 06, 2022 (GLOBE NEWSWIRE) -- The "Global Air Suspension Compressor Market Size, Share & Industry Trends Analysis Report By Vehicle Type, By Sales Channel, By Regional Outlook and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The Global Air Suspension Compressor Market size is expected to reach $3 billion by 2027, rising at a market growth of 6.6% CAGR during the forecast period.
The air suspension compressor is a part of the car suspension system that keeps the driver comfortable while driving. The vehicle's air suspension system is powered by an electric or engine-driven air pump or compressor. In addition, these pumps or compressors connected to the suspension system pump air into the suspension system, which is made out of textile-reinforced rubber. Air suspension compressor systems replace typical steel springs in automobiles and have a wide spectrum of uses in large vehicles like trucks, buses, minibuses, and other heavy vehicles. The primary purpose of air suspension is to provide a smooth and comfortable ride for drivers and passengers.
Air suspension is a sort of vehicle suspension system that provides comfort to the driver while driving. The vehicle's air suspension system is powered by an electric or engine-driven air pump or compressor. Air is pumped into the suspension system, which is normally comprised of textile-reinforced rubber, by these pumps or compressors fitted to the suspension system. Air suspension systems are used in cars to replace traditional steel springs, and they have a wide range of applications in heavy vehicles like buses, trucks, rolling stock, and other heavy vehicles.
Because air suspensions are far more effective and powerful than traditional mechanical or spring-based suspension systems, they are highly utilized in heavier vehicles. They also have a higher demand for deployment in automobiles since they provide better and more effective suspension and improve vehicle comfort. There are two types of air suspensions used in vehicles: electric controlled and non-electric controlled. The electronically controlled air suspension system utilizes little air and provides quick lifting and lowering capabilities, as well as great serviceability and diagnostic ideas.
COVID-19 Impact Analysis
Due to the highly contagious nature of the coronavirus, it has wreaked havoc on people's lives and the community as a whole. It began as a human health concern and has since become a major threat to global trade, economics, and finance. The COVID-19 pandemic interrupted the manufacturing of several items in the air suspension compressor industry because of the ongoing lockdown in major regions.
In addition, market players can only manage a complete lockdown for a limited time before having to change their investment strategies. Moreover, with the introduction of a COVID-19 vaccine on the market, the number of COVID-19 cases is predicted to decline in the near future.
Market Growth Factors:
Growing sales of commercial and passenger vehicles
With the rise in automation and the adoption of cutting-edge technology in automobiles, demand for vehicles with cutting-edge components like air suspension systems has risen, resulting in increased vehicle sales across the globe.
In addition, the adoption of a more sophisticated suspension system in commercial vehicles has boosted driver comfort while also lowering the risk of cargo damage and reducing driver tiredness on lengthy travels. The public's increasing demand for safety and comfort when traveling long distances is driving up the price of luxury buses and passenger automobiles.
Supportive Government Regulations
Various countries around the world have enacted laws and regulations requiring automobiles to include modern systems for driving comfort, such as air suspension, within a certain time frame. In addition, governments all across the world have made it mandatory to replace metal-based spring systems in automobiles with air suspension systems for the sake of safety and security.
As a result, vehicle manufacturers have been able to install air suspension systems in their vehicles, creating higher demand for air suspension compressors in the upcoming years. Furthermore, to access sales licenses for vehicles in the air suspension market, automobile manufacturers must obtain safety ratings from organizations such as the Insurance Institute of Highway Safety (IIHS), New Car Assessment Program (NCAP), and the International Centre for Automotive Technology (ICAT).
Marketing Restraining Factor:
The massive cost of installation and maintenance
One of the major barriers to the growth of the market is the high cost of installing suspension systems in automobiles. In addition, the consumers will suffer more fees in the form of hardware, applications, and telecom service charges as a result of the prospect of delivering premium features in automobiles.
Moreover, many countries having sluggish economies is expected to witness low demand for such high-end vehicles as most of the people belong to the low-income and middle-income categories. The change to modern technology in automobiles, such as the ECAS system, results in significant costs. For consumers who prefer medium-priced vehicles, the cost deployment for an air suspension system is significant.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Air Suspension Compressor Market by Vehicle Type
3.1 Global Passenger Vehicle Market by Region
3.2 Global Commercial Vehicle Market by Region
Chapter 4. Global Air Suspension Compressor Market by Sales Channel
4.1 Global OEM Market by Region
4.2 Global Aftersales Market by Region
Chapter 5. Global Air Suspension Compressor Market by Region
Chapter 6. Company Profiles
6.1 Arnott Air Suspension Products
6.1.1 Company Overview
6.1.2 Recent strategies and developments:
6.1.2.1 Product Launches and Product Expansions:
6.2 AT Parts Germany GmbH (Aerosus)
6.2.1 Company Overview
6.3 Guangzhou CYS Auto Parts Co., Ltd.
6.3.1 Company Overview
6.4 Stellantis N.V. (Mopar)
6.4.1 Company Overview
6.5 Guangzhou Tech master auto parts Co. Ltd.
6.5.1 Company Overview
6.6 Miessler Automotive GmbH & Co. KG
6.6.1 Company Overview
6.7 VIAIR Corporation
6.7.1 Company Overview
6.8 Zhejiang Bocheng Automotive Technology Co. Ltd.
6.8.1 Company Overview
6.9 ZF Friedrichshafen AG
6.9.1 Company Overview
6.9.2 Financial Analysis
6.9.3 Segmental and Regional Analysis
6.9.4 Research & Development Expenses
For more information about this report visit https://www.researchandmarkets.com/r/ljkhcm
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