The per capita income of people has increased significantly over the past few years, majorly in developing countries, including India and China. Because of this, people are becoming more inclined to spend money on luxury items and services. For example, the demand for premium has been on a rise at the present time. In addition to this, the demand for luxury buses has also increased substantially across the globe, owing to the growing urban population.
Various non-government and government initiatives are taking initiatives for improving the traveler experience by incorporating luxury transit buses to the fleet. These factors are further driving the demand for automotive air suspension systems, which are vehicle suspensions powered by a compressor or an electric pump. The compressor or electric pump pumps air in flexible bellows which care generally made of a textile-reinforced type of rubber. Air suspensions are utilized for achieving constant and smooth driving quality and are majorly used in heavier vehicles.
These air suspensions offer a number of benefits, including greater driving comfort, higher load carrying capacity, improved safety level, and several adjustment options. Electric control unit (ECU), height sensor, air reservoir, air compressor, air spring, and shock absorber are the major components of an automotive air suspension systems. Out of these, the demand for ECUs is expected to rise in the coming years, owing to the changing preference for using electronically controlled systems that offer enhanced performance in vehicles.
Automotive air suspensions systems are used in light commercial vehicles, buses, and passenger cars. The largest demand for these devices was created for buses in the past, as the governments of different countries are focusing on adding fuel-efficient buses in transport systems, particularly in metro cities. The rising number of orders for manufacturing more efficient buses are leading to the increasing need for automotive air suspension systems. The demand for these devices is also predicted to rise for passenger cars in the coming years.
Geographically, the European region emerged as the largestautomotive air suspension system market in the past, and is further predicted to create the largest demand for these devices in the coming years as well. The rising production of vehicles and stringent government regulations about greenhouse gas emissions in the region are driving the demand for automotive air suspension systems. It is further expected that Asia-Pacific region will also create high for these devices in the coming years due to the rising disposable income of people.
In conclusion, the market is growing due to the rising disposable income of people and increasing demand for luxury buses and premium cars.