Global Air Spring For Passenger Vehicle Market

Apr 2020| VMR2360A| Verified Market Research

Report Highlights

Air Spring For Passenger Vehicle Market Size And Forecast
According to Verified Market Research, Global Air Spring for Passenger Vehicle Market was valued at USD 1.05 Billion in 2018 and is projected to reach USD 2.11 Billion by 2026, growing at a CAGR of 7.36% from 2019 to 2026.

Global Air Spring for Passenger Vehicle Market Outlook
There is increased stringency in regulations in many parts of the world, including the U.S., Japan, and Europe that necessitate further improvements in environmental performance and vehicle safety. Stringent government regulation regarding reducing emission have driven auto manufacturers to reduce vehicle weight by adopting lightweight materials in automotive components and parts. The increasing preference for in-vehicle ride comfort and safety and vehicle light-weighting is influencing the manufacturers of air springs to design lightweight air springs for passenger cars. In addition, advantages offered by technologically advanced air springs in luxury cars are driving the growth of the luxury cars market, which is further strengthening the global Air Spring for Passenger Vehicles market growth.

Global Air Spring for Passenger Vehicle Market, Segment Analysis
The Global Air Spring for Passenger Vehicle Market is segmented on the basis of Product Type, Technology, Sales Channel and Geography.

Global Air Spring for Passenger Vehicle Market, Competitive Landscape
The Global Air Spring for Passenger Vehicle market is highly fragmented with the presence of a large number of manufacturers globally. Some of the major players include Firestone Industrial Products Company, LLC, Vibracoustic, Dunlop Systems and components, STEMCO (EnPro Industries, Inc.), Meklas Group, Continental AG, and Torque Parts LLC. Vibracoustic is one of the top five players in the Air spring for Passenger Vehicles market globally.

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