Electronic Air Suspension System [EAS] Market Size, Share, Growth, and Industry Growth by Type (OEM, and Aftermarket), By Application (Passenger Car, Commercial Vehicle, and Motorcycle), Regional Forecast To 2031

Updated On: 15 April 2024

Electronic Air Suspension System [EAS] Market REPORT OVERVIEW

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global electronic air suspension system [eas] market size was USD 14180 million in 2021 and market is projected to touch 27121.92 Million by 2031, exhibiting a CAGR of 6.7% during the forecast period.

An electronic air suspension system is a type of suspension system used in automobiles that uses electronic sensors, air compressors, and solenoid valves to adjust the air pressure in the vehicle's air springs. The system is designed to provide a smoother, more comfortable ride and improved handling characteristics compared to traditional suspension systems. Electronic air suspension systems are commonly used in luxury vehicles and high-end SUVs. They are also used in commercial trucks and buses to improve ride quality and stability.

The electronic air suspension system is typically controlled by a computer that receives data from sensors located throughout the vehicle. The system can also be programmed to adjust the ride height of the vehicle, which can be useful when driving off-road or when loading and unloading cargo. The system works by monitoring the position of the vehicle's wheels and adjusting the air pressure in the air springs accordingly. Overall, electronic air suspension systems provide a high level of ride comfort and handling performance

COVID-19 Impact: Demand for Contactless Applications has Boosted Market Demand.

COVID-19 had a life changing impact globally. The global electronic air suspension system [EAS] market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for electronic air suspension system [EAS] experienced an increased demand.

During the early stages of the pandemic, many automotive factories and suppliers were forced to shut down due to government-mandated lockdowns and disruptions in global supply chains. This led to a shortage of electronic air suspension systems and other automotive parts, which caused delays in vehicle production and sales.

Additionally, the pandemic has resulted in changes in consumer behavior and preferences, including a shift towards more affordable and practical vehicles. However, the pandemic has also highlighted the importance of contactless and touch-free technologies, which may drive the development of new and innovative electronic air suspension systems that are more user-friendly and convenient for consumers. These factors are anticipated to boost the global electronic air suspension system [EAS] market share.

LATEST TRENDS

"Smart System Controls to Benefit Market Prospects"

Electronic air suspension systems are becoming more intelligent, with advanced control algorithms that can adjust the suspension settings based on real-time road and driving conditions. This allows for a more personalized and adaptive suspension system that can provide optimal ride comfort and handling performance. Electronic air suspension systems are incorporating more advanced sensors such as cameras, LiDAR, and radar to provide more accurate and comprehensive data on road and driving conditions.

Electronic air suspension systems are being integrated with electric powertrains to improve energy efficiency and reduce emissions. This involves the use of regenerative braking systems and other energy recovery technologies that can harvest energy from the suspension system. In an effort to reduce vehicle weight and improve fuel efficiency, electronic air suspension systems are being developed using lightweight materials such as aluminum and carbon fiber.

Electronic Air Suspension System [EAS] Market SEGMENTATION

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• By Type

Based on type, the market is divided into OEM, and Aftermarket.

• By Application

Based on application, the market is bifurcated into Passenger Car, Commercial Vehicle, and Motorcycle.

DRIVING FACTORS

"Need for Differentiated Driving Experience to Boost Market Share"

Electronic air suspension systems can provide a differentiated driving experience for luxury vehicles. These systems can be adjusted to provide a more personalized and customizable ride, allowing drivers to tailor the suspension settings to their preferences. One of the main factors driving the use of electronic air suspension systems is the desire to provide a more comfortable ride for passengers. These systems can adjust the suspension settings in real-time to absorb bumps and road irregularities, providing a smoother and more comfortable ride.

"Off-road capability to Boost Market Size"

Electronic air suspension systems can also improve off-road capability by allowing drivers to adjust the ride height of the vehicle to better navigate rough terrain. This can provide improved ground clearance and approach/departure angles, as well as better traction and stability. These systems can adjust the suspension settings to compensate for changes in vehicle load, such as when carrying heavy cargo or towing a trailer. This helps to maintain a level ride and improve stability. These factors are anticipated to boost the global electronic air suspension system [EAS] market size.

RESTRAINING FACTORS

"Reliability Concerns to Hamper Market Share"

Electronic air suspension systems are reliant on electronic components and sensors, which can be prone to failure and require costly repairs. This can impact consumer confidence in these systems and limit market adoption. Electronic air suspension systems are primarily used in high-end luxury vehicles, which make up a small segment of the overall automotive market. This limited market can restrict the growth of the EAS market. These factors could impediment the growth of the global electronic air suspension system [EAS] market share.

Electronic Air Suspension System [EAS] Market REGIONAL INSIGHTS

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"North America Dominates the Electronic Air Suspension System Market "

North America is the major shareholder for the global electronic air suspension system market share. The high demand for luxury vehicles in the United States has driven the adoption of electronic air suspension systems in the region, making it a major shareholder for the EAS market. This is also contributed due to several leading luxury car manufacturers, who have driven the adoption of electronic air suspension systems in the region. Europe is the second major shareholder.

KEY INDUSTRY PLAYERS

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Continental AG [Germany]
• Hitachi [Japan]
• Dunlop Tyres [U.S.]
• ThyssenKrupp [Germany]
• WABCO Vehicle Control Systems [France]
• AccuAir Suspension [U.S.]
• Air lift suspension [U.S.]
• BWI Group [China]
• Komman [China]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.