LONDON--(BUSINESS WIRE)--The global automotive air suspension market is expected to post a CAGR of over 10% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the rising sales of luxury cars. Luxury cars are equipped with modern technologies that offer better performance, comfort, and convenience to the vehicle occupants as compared to other vehicles. Hence, the majority of the latest technological innovations for passenger cars such as air suspension systems are initially offered in luxury vehicles.
This market research report on the global automotive air suspension market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the smart air suspension system as one of the key emerging trends in the global automotive air suspension market:
Global automotive air suspension market: Smart air suspension system
Automotive air suspension system is mainly used to increase the comfort of vehicle occupants. Hence, vehicle makers are increasingly upgrading existing automotive air suspension technology to offer better comfort and convenience. Smart air suspension system is a type of automotive air suspension used in various vehicles since 2017.
“The system allows the driver to set a particular height or ground clearance of vehicle by adjusting the vehicle’s air suspension using the controls on the dashboard touch panel. The smart air suspension system will memorize this setting and automatically switch vehicle height upon reaching the location the next time without any intervention of the driver. It will also adjust vehicle height according to vehicle speed, road terrain, and load carried to ensure a safer and comfortable drive,” says a senior market research analyst at Technavio.
Global automotive air suspension market: Segmentation analysis
This market research report segments the global automotive air suspension market by applications (passenger cars and commercial vehicles) and geographical regions (APAC, EMEA, and the Americas).
The passenger cars segment held the largest market share in 2017, accounting for nearly 51% of the market. However, by 2022, the commercial vehicles segment is expected to surpass the passenger cars segment to become the leading application segment.
EMEA led the market in 2017 with a market share of nearly 48% of the market share. The market share occupied by this region is anticipated to increase by nearly 7% during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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