The global air spring components market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each air spring components market player in a comprehensive way. Further, the air spring components market report emphasizes the adoption pattern of the air spring components across various industries.
The air spring components market report highlights the following players:
- Dunlop Systems and Components Ltd.
- Vibracoustic CV Air Springs GmbH
- Hendrickson USA, L.L.C
- Gibraltar Airsprings Private Limited
The air spring components market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.
According to a new Fact.MR study, the air spring components market is witnessing 6.4% y-o-y CAGR in 2018 over 2017. The study finds that burgeoning applications of trucks in the transportation industry are boosting installation of air spring components to improve vehicle safety and ride quality on uneven roads and long descents. This is mainly driving the growth of the air spring components market.
Increasing growth of the transportation industry and trucking activities is one of the most important factors fueling growth of the air spring components market. Other factors triggering adoption of Air spring components include
- Increasing production and sales of commercial vehicles across the globe
- Awareness about drivers’ safety, comfort, and convenience at long journeys
- Recent technological developments in suspension systems used in commercial vehicles
- Globalization and urbanization trends initiating developments in road infrastructures
- Rapidly-expanding logistics and warehousing industry
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With the rising sales of commercial vehicles, the importance of ride quality is making a significant impact on customers’ purchasing decisions. Thereby, modern automakers are focusing more on the use of high-quality Air spring components, which is majorly contributing to growth of the Air spring components market.