Friday, 16 September 2016

Worldwide Air Suspension Market to Upsurge Due To High Demand for Luxury Buses

The global air suspension market is expected to witness a significant growth during the forecast period owing to the growing demand for luxury buses for better safety & comfort along with the rising disposable income across the globe. The system has a simple electric connection from air springs through air valves for air flow in both inwards and outwards direction. It also offers a very good grip to all wheels on the road which tends to improve stability of the steering system and enhanced braking performance.

Air suspension system provides a better road handling abilities to the vehicles. In addition, rising demand for a light-weight vehicle with advanced suspension system will further aid in the market growth over the coming years. Over the past few years, increasing preference for luxurious public transport for long distance travel have added a momentum in demand for the product, globally.

In the report, “Global Air Suspension Market Research Report- Industry Analysis, Size, Share, Growth, Trends And Forecast” added by DecisionDatabases.com the market overview, market size, growth trends and future prospects are elaborately covered. The report incorporates the air suspension market analysis on the basis of vehicle type, component, and technology. The report offers details about the drivers, restraints and growing opportunity in the industry.

Air Suspension Market
These systems are getting preference over ECAS (electronically controlled air suspension) due to its less cost, simple design, and easy handling features. Rapid technological advancements in the field of suspension systems such as E-corner suspension modules, AIRMATIC, energy recovery suspension system, active curve tilting and others are anticipated to boost market demand in the near future. The introduction of stringent government regulations related to fuel efficiency & emission control across the globe has forced the manufacturers to develop advanced suspension system, which in turn will have a positive impact on the market penetration. However, rising incidences of component failure in the vehicle is a major issue, which may restrict the growth of the market in the forthcoming years.

A glimpse of the major drivers and restraints affecting this market is mentioned below:

A. Drivers
> Increasing demand for luxury buses

B. Restraints
> Component failure

The global market has been segmented based on vehicle type into passenger cars, light commercial vehicle (LCV) and truck & bus. The passenger car is a leading vehicle segment and is projected to witness a double-digit growth over the forecast period on account of rising standard of living, high purchasing power and increasing preference for comfort & luxury in the vehicle globally. The market has been further segmented based on component into air spring, air compressor, shock absorber, air reservoir, electronic control module and the height sensor. Furthermore, the market has been segmented based on technology. The electronic control air suspension system is a major technology segment and is expected to have the highest growth during the forecast period due to rising adoption among consumers for better leveling and less air consumption of the vehicle and increasing preference for comfortable traveling experience woldwide.

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Rising demand for vehicles, increasing investments by several OEMs, availability of economical labor, rising standard of living and supportive government policies in the Asia Pacific region has led this region to dominate the global market. Europe is a fastest growing market and is projected to witness a significant growth during the forecast period on account of the presence of major players and rapid technological advancements in the area.
The key players include Continental AG, Thyssenkrupp AG, Wabco Holdings Inc., Hendrickson International Corporation, Dunlop Systems and Components, Hitachi Ltd., Mando Corporation, BWI Group, Accuair Suspension and Firestone Industrial Products.

In March 2013, Hendrickson Trailer had launched a “zero-maintenance damping ride technology” in its commercial vehicle segment to reduced the  cost of the maintenance of the suspension systems.
In March 2013, Meritor WABCO, a leading integrated safety systems and technology provider have introduced an “electronically controlled air suspension (ECAS) for the North American commercial vehicle market.

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