Published by Jessica Weisman-Pitts
Posted on January 31, 2022
5 min readLast updated: January 28, 2026
Air suspension systems market to grow at 6.7% CAGR by 2031, driven by demand in heavy trucks and electric vehicles.
Future Market Insights (FMI) in its latest market analysis estimates that air suspension systems sales will accelerate at the rate of 6.7% CAGR in next ten years, reaching market valuation of US$ 4.6 Bn through 2021 & beyond.
Growing application of heavy trucks for construction activities, logistic and e-commerce industries across China, the U.K., Germany and Japan will bolster the demand of air suspension systems across the globe.
As per the FMI’s analysis, the air suspension systems sales across South Korea and Japan are set to expand at over 4% in 2021. Heavy trucks are anticipated to account for over 54.1% volume share in 2021. Further, trailers segment is estimated to have accounted for nearly 32.1% volume share by the end of 2021.
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Sustainability concerns have pushed the adoption of electric vehicles, accelerating the demand of electric buses as public transport across the globe. Hence, with increasing production of commercial vehicles, the market is expected to propel over the coming years.
FMI estimates that the air suspension systems market will experience a year-on-year growth rate of 5.6% in 2021.
Amid surging competition, the top five players, comprising Saf-Holland, Hendrickson USA LLC, BPW Group, Guangdong Fuwa Engineering Group Co., Ltd., and TMC Australia are expected to account for 40% of air suspension systems market in 2021
Key Takeaways from FMI’s Air Suspension Systems Market Study
“Increasing demand for luxury buses across the globe, especially within Germany, China and India, coupled with expansion of construction industry will propel the demand of air suspension systems, widening growth opportunities for the market players,” says the FMI analyst.
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Competitive Landscape
Prominent players operating in air suspension systems market are focusing on expansion of their customer base through product innovation and new launches.
Increasing need for air suspension systems have urged the key players to form strategic alliance with regional distributors. Partnerships with suppliers and aftermarket players will provide incremental opportunities for the key players.
In January 2021, air suspension specialist, Air Lift Company, announced the acquisition of air tank manufacturer Flo Airride Mfg., Flo Airride. Through this acquisition, Air Lift Company will provide air suspension products to lower their vehicles along with the customization of the product.
Tenneco Inc., a global supplier of clean air products and systems, in 2018, announced the launch of CVSA2 semi-active suspension technology, Monroe® Intelligent Suspension, originally developed for the use of sports car, have been adopted for the SUVs and off-road vehicles.
Air Suspension Systems Market by Category
By Vehicle Type:
By Sales Channel:
By Region:
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Key Points Covered in Air Suspension Systems Market Study
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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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The article focuses on the growth of air suspension systems sales at a 6.7% CAGR over the next decade.
What factors are driving the growth of air suspension systems?
Which regions are expected to see significant growth in air suspension systems?
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