The air suspension compressor market is registering a CAGR of 6.9% forecast by 2030
PORTLAND, OREGON, UNITED STATES, October 20, 2023 /EINPresswire.com/ -- The global air suspension compressor market size was valued at $1,987.3 million in 2020, and is projected to reach $3,909.1 million by 2030, registering a CAGR of 6.9% from 2021 to 2030
The Air Suspension Compressor Market is expected to witness significant development, owing to factors such as increased manufacturing and sales of commercial & passenger vehicles and increased demand for premium & luxury cars. However, the market growth is likely to be hampered by high development of air suspension compressor systems and fluctuations in raw material prices. On the contrary, increased aftermarket demand for air suspension and related components as well as rise in demand for lightweight air suspension systems are anticipated to generate remunerative opportunities for the air suspension compressor market growth in the coming years.
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Top Leading Companies: Arnott, AT Parts Germany, Duralo, Guangzhou CYS Auto Parts, Guangzhou Tech Master Auto Parts Co, Miessler Automotive GmbH & Co. KG, Mopar (Stellantis), VIAIR Corporation, Zhejiang Bocheng Automotive Technology Co. Ltd., and ZF Friedrichshafen AG.
Various air suspension components now function electrically as a result of increased vehicle production and the introduction of electric automobiles. For instance, China invested $60 billion to support the electric vehicle sector, and has formed an ambitious plan to convert all electric or hybrid cars by 2035. Furthermore, in January 2021, General Motors made $27 billion investment, which involves manufacturing 30 new electric vehicles by 2025. As a result, suspension system manufacturers all around the world have developed electrically controlled components, which boost the system's efficiency.
Air suspension compressors play a pivotal role in maintaining the optimal air pressure within a vehicle's suspension system. These compressors are responsible for inflating or deflating airbags, which in turn control the vehicle's ride height, load-bearing capacity, and overall comfort. With the ability to adjust the suspension on the fly, air suspension systems are a sought-after feature in luxury and high-performance vehicles, as well as in certain commercial applications.
Consumers today prioritize comfort and customization in their vehicles. Air suspension systems offer both, as drivers can tailor their ride to suit their preferences. This demand for a smoother, adjustable ride drives the market for air suspension compressors. The high-end automotive sector, which includes luxury and premium vehicles, has been a primary driver of air suspension compressor adoption. Automakers in this segment continually incorporate air suspension systems to provide their customers with superior driving experience.
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Air suspension systems have gained prominence for their ability to provide a smoother and more adaptable ride. At the heart of these systems lies the air suspension compressor, a crucial component that keeps the vehicle riding smoothly. In this blog, we'll explore the dynamics of the air suspension compressor market, including its growth factors, key players, and future trends.
With the rise of electric vehicles, the air suspension compressor market is likely to see increased demand, as EVs can benefit from the enhanced efficiency and ride quality offered by air suspension systems. Advancements in air suspension technology, including predictive adaptive systems and smart compressors that utilize sensors and AI for real-time adjustments, will shape the market's future. The aftermarket for air suspension compressors is expected to grow, as more vehicle owners seek to upgrade their existing suspension systems with air suspension technology.
The air suspension compressor market is set to expand as the demand for superior ride quality, customization, and sustainability continues to grow. Key players are investing in innovative technologies to meet the evolving needs of the automotive industry. As we move further into the era of electric and autonomous vehicles, air suspension systems and their compressors will play an even more significant role in shaping the future of transportation.
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