Europe Air Suspension Compressor Market Size, Share & Industry Trends Analysis Report By Vehicle Type (Passenger Vehicle and Commercial Vehicle), By Sales Channel (OEM and Aftersales), By Country and Growth Forecast, 2021 - 2027
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Market Report Description
The Europe Air Suspension Compressor Market would witness market growth of 6.2% CAGR during the forecast period (2021-2027).
Height sensors are one of the most important electrical components in automobiles; they assist in maintaining vehicle height by monitoring the distance between certain spots on the vehicle and the road. Additionally, the height sensors also transmit a signal to the self-leveling module, which triggers the compressor, which adjusts the suspension settings. Air suspension has become more popular in passenger cars and heavier vehicles such as buses, lorries, and other vehicles than traditional steel springs. Semi-trailers and trains are also outfitted with them.
By leveling the suspension, the air suspension decreases noise and vibration while simultaneously increasing the ability to move weights. Various kinds of components, such as air springs and height sensors, make up air suspension. The progress of air suspension technology has resulted in a rise in the use of air suspension in all vehicle categories. Traditional coil springs have fewer capacities than air springs. With air suspension, vehicles maintain stable levels regardless of the load put on it.
The economy of Europe is mostly driven by the economic factors of countries such as the United Kingdom, Germany, and Spain, although the current scenario is changing due to increased innovations and investments in countries such as Germany. Germany is Europe's top producer of major luxury automobile brands, and the many top automotive companies are planning to invest a hefty amount in automotive technology development over the next few years. This investment will boost the utilization of air suspension systems in new passenger vehicles and other vehicle types.
Due to the increasing deployment of air suspension systems across all vehicle types, Germany is likely to be one of the most lucrative markets. According to Germany Trade & Invest, Germany produced roughly 78 percent of passenger cars for the worldwide market in 2019.
The Germany market dominated the Europe Air Suspension Compressor Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $209 million by 2027. The UK market is poised to grow at a CAGR of 5.4% during (2021 - 2027). Additionally, The France market would display a CAGR of 7% during (2021 - 2027).
Based on Vehicle Type, the market is segmented into Passenger Vehicle and Commercial Vehicle. Based on Sales Channel, the market is segmented into OEM and Aftersales. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Air Suspension Compressor Market Size will Hit $3 Billion by 2027, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Arnott Air Suspension Products, AT Parts Germany GmbH, Guangzhou CYS Auto Parts Co., Ltd., Stellantis N.V., Guangzhou Tech master auto parts co. Ltd., Miessler Automotive GmbH & Co. KG, VIAIR Corporation, Zhejiang Bocheng Automotive Technology Co. Ltd., and ZF Friedrichshafen AG.
Scope of the Study
Market Segments Covered in the Report:
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
By Sales Channel
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Arnott Air Suspension Products
- AT Parts Germany GmbH
- Guangzhou CYS Auto Parts Co., Ltd.
- Stellantis N.V.
- Guangzhou Tech master auto parts co. Ltd.
- Miessler Automotive GmbH & Co. KG
- VIAIR Corporation
- Zhejiang Bocheng Automotive Technology Co. Ltd.
- ZF Friedrichshafen AG
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