LAMEA 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 Latin America, Middle East and Africa Air Suspension Compressor Market would witness market growth of 8.7% CAGR during the forecast period (2021-2027).
An air suspension system allows the driver to customize the car's ride comfort and handling to their specific tastes. When a driver has the option of selecting a firmer drive for highway driving or a lighter feel for challenging roads, a person maintains control regardless of the terrain. Air suspension allows for faster cornering speeds and more control when turning corners because the vehicle is better adapted to the road conditions. With an adjustable suspension that allows the vehicle to be lowered to the ground, the drag can be reduced at faster speeds. Furthermore, the ability to lift the automobile for everyday use comes in helpful when driving off-road.
According to the Associaço Nacional dos Fabricantes de Veculos Automotores (ANFAVEA), the national organization of automotive vehicle makers, the Brazilian automotive sector continues to display good sales and production results. This recovery is taking place in an environment where the automobile industry faces significant problems, but year-end estimates are quite near to the association's expectations.
As per the same source, despite the recent improvement, revised year-end predictions continue to show significant decreases in all metrics. The latest projection for 2020 production is 1,915 million units, the lowest since 2003 and down 35% from 2019. Domestic market sales are expected to be 1,925 million units, a 31% decrease from 2019 and the lowest level since 2005.
The Brazil market dominated the LAMEA Air Suspension Compressor Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $45.5 million by 2027. The Argentina market is anticipated to grow at a CAGR of 9.3% during (2021 - 2027). Additionally, The UAE market would showcase a CAGR of 8.4% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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
- Saudi Arabia
- South Africa
- Rest of LAMEA
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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