According to the latest market report published by Fact.MR, growing penetration of air springs in luxury passenger vehicles continues to open new growth opportunities for manufacturers. Traditionally limited to heavy commercial vehicles, end-user preference for comfort, glide ride, and suspension adjustment are impacting where the revenue is going in the air springs landscape. Stakeholders in the air springs market must consider the evolutions in this marketplace if they are to rapidly adapt to the new status quo.
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Fact.MR Survey Finds Weight Reduction and Flex Cracking Mitigation as Key Focus Areas for Manufacturers
The air springs market remains fragmentally consolidated, with a large number of America, Chinese, and Indian suppliers/distributors vying for increasing their market penetration and share. A majority of market participants covered in the market have a sizeable presence in APEJ and North America – two key air springs markets globally. Sensing the untapped opportunities in this marketplace, leading manufacturers, including BWI Group, Continental AG, Dunloop Systems and Components, Firestone Industrial LLC, Hendrickson LLC, Mando Corporation, Tata AutoComp Systems, ThyssenKrupp AG, VB AirSuspension, and Wabco Holdings Inc. are focusing on reducing weight and mitigating flex cracking as key focus areas.
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Global Air Springs Market: In-Depth Assessment on Key Segments
The global air springs market is segmented on the basis of product type, sales channel, application, forces and region.
- Single Convolute
- Multi Convolute
- Rolling Lobe
- Passenger Cars
- Trailer & Trucks
- Light Commercial Vehicle
- Industrial Lifts & Earthmovers
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- Less than 1500
- Above 10000
Global Air Springs Market Suspending on the Performance of Asian Markets
A direct correlation of vehicle production, sales, vehicle parc and demand for air spring is evident. It’s apparent that the Asian economies are leading in terms of vehicle production as well sales, thus equating to preeminence in the global air springs market during the assessment period 2017-2026, according to a new business intelligence study by Fact.MR. Manufacturers must prioritize ASEAN and GCC in their long-term strategic plans to consolidate their position.
Fact.MR’s research study projects the global air springs market to surpass US$ 4 Bn in revenues by 2026. In terms of volume, over 33,000’000 units of air springs are likely to be sold by the end of the forecast period.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/01/08/1681925/0/en/8-in-10-Pedelec-Sales-Concentrated-in-Asia-Pacific-China-Continues-to-Spearhead-Demand-Finds-Fact-MR.html
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