Air Springs Market Vehicle Type (Light Commercial Vehicles (LCV), Trucks, Bus) By Component (Air Spring, Tank, Solenoid Valve, Shock Absorber, Air Compressor, Electronic Control Unit (ECU), Height & Pressure Sensor, Others) Technology Type (Electronic Controlled, Non-Electronic Controlled) Sales Channel (Original Equipment Manufacturers (OEMs), Aftermarket) and Geography

 

Air Springs Market size was valued at USD 6725.67 Million in 2021 and is expected to reach USD 10383.10 Million by 2028, at a CAGR of 6.4% during the forecast period 2022-2028 Increased use in commercial and luxury cars of air compressors, suspension systems, and other advanced components, increasing research and development activities are few key drivers boosting the global market. Strong adoption costs for low-range vehicle air suspension systems act as restrain which hung the growth of the global air springs market. The replacement of metal springs with air suspension systems such as shock absorbers and air springs provides opportunities for the air springs market. Air springs are a sort of suspension mechanism used in automobiles to provide smooth braking. Automobiles with air suspension have better safety features. As a result of these factors, the use of air springs in passenger automobiles and commercial vehicles is expanding.