The global air suspension compressor market size was US$ 2126.4 million in 2021. The global air suspension compressor market size is forecast to reach US$ 3909.3 million by 2030, growing at a compound annual growth rate (CAGR) of 7% during the forecast period from 2022 to 2030.
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The air suspension compressor is a component of the vehicle suspension system that provides comfort to the driver. A compressor or pump powered by electricity or an engine operates the air suspension system. These pumps or compressors pump air into the suspension system, which consists of textile-reinforced rubber. In addition to car suspension compressors, large trucks, buses, and minibuses also use air suspension compressors to replace traditional steel springs. The primary goal of air suspension is to provide drivers and passengers with a comfortable and stable ride.
A number of factors, including commercial & passenger vehicle sales growth, and higher demand for luxury & premium vehicles, are forecast to drive growth of the air suspension compressor market.
A high development of air suspension compressor systems along with fluctuations in raw material prices may slow down the global market growth.
In the coming years, growing aftermarket demand for air suspension and related components as well as a rise in demand for lightweight air suspension systems, are forecast to create lucrative growth opportunities for the air suspension compressor market.
The spread of COVID-19 across various countries resulted in partial lockdowns of the auto industry across the globe, as many companies faced disruptions in production operations and supply chains. As a result, numerous manufacturers halted their business operations worldwide. Consequently, air suspension compressor sales suffered. Thus, the COVID-19 outbreak had negatively impacted the growth of the global air suspension compressor market.
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The Asia Pacific region is forecast to register the highest growth rate in the coming years. Increasing demand for air suspension systems in commercial vehicles in emerging nations such as India, China, and Japan. Furthermore, the increase in disposable income in the Asia Pacific will help drive the market. With increased disposable income, passenger and commercial vehicle sales will increase, indirectly affecting the market growth.
The leading prominent companies profiled in the global air suspension compressor market are:
Guangzhou Tech Master Auto Parts Co
Miessler Automotive GmbH & Co. KG
Zhejiang Bocheng Automotive Technology Co. Limited
The global air suspension compressor market segmentation focuses on Vehicle Type, Sales Channel, and Region.
Segmentation based on Vehicle Type
Segmentation based on Sales Channel
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Middle East & Africa (MEA)
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