Australia Air Spring Market

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Australia Air Spring Market by Type (Convolute, Rolling Lobe, and Sleeve), Sales Channel (Original Equipment Manufacturer (OEM) and Aftermarket), and Application (Automotive, Railway, and Industrial) – Global Opportunity Analysis and Industry Forecast, 2024–2030

Industry: Automotive & Transportation | Publish Date: 03-Jul-2024 | No of Pages: 125 | No. of Tables: 92 | No. of Figures: 57 | Format: PDF | Report Code : N/A

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Australia Air Spring Market Overview

The Australia Air Spring Market size was valued at USD 70.8 million in 2023, and is predicted to reach USD 108.3 million by 2030, at a CAGR of 5.2% from 2024 to 2030. Also, the air spring market is valued at 369 thousand units in 2023, and is expected to reach at 618 thousand units by 2030 with the CAGR of 6.3% during 2024-2030.

The air spring, also known as air bags or pneumatic springs refers to the industry focused on the production and distribution of these springs, which are components used in vehicle suspension systems to provide improved ride quality, comfort, and stability. It is a component used in commercial vehicles, passenger cars, and industrial machinery.

The component is designed to support loads, isolate vibrations and shocks, and act as a pneumatic cylinder by expanding itself. They are integral components of air suspension systems, providing improved comfort compared to traditional coil springs. These springs replaces traditional metal springs with a flexible, rubber-and-fabric bladder that contains compressed air, making them a popular choice for various applications. 

The Increase in Industrial Production is Driving Demand for Air Springs in the Country

The increasing industrial production in Australia is self-assured to drive the air spring market by escalating the need for reliable and efficient air springs in heavy machinery and transport vehicles.

According to the Australian Bureau of Statistics, industrial production in Australia increased by 0.20% in the fourth quarter of 2023 compared to the same quarter in the previous year, 2022. As Australian industries expand and modernize, there is a growing requirement for high-performance air springs that can provide superior shock absorption and durability. This rising industrial activity directly fuels the demand for air springs, thus contributing to the market's growth in Australia.

The Rising Urbanization is Fueling the Air Spring Market Growth

The growing urbanization is further fueling the Australia air spring market demand by escalating the need for efficient logistics and delivery services within cities. The increased reliance on commercial vehicles within urban settings drives the demand for air springs, which are essential for maintaining ride comfort and stability in densely populated areas.

According to data provided by the Central Intelligence Agency (CIA), 86.6% of Australia's total population resided in urban areas in 2023, with projections indicating an annual increase of 1.27% until 2025.

This ongoing urbanization trend in Australia directly correlates with a heightened demand for air spring systems, thereby fostering market growth. As cities grow and urban infrastructure develops, the need for reliable and efficient transportation solutions becomes paramount, further boosting the air spring market.

The High Complexity in Installing Air Springs Hinders the Market Growth

The installation process for these springs presents a formidable challenge, impeding market expansion. Specialized knowledge and tools are requisite for air bag installation, resulting in increased time and costs for both manufacturers and end-users.

Furthermore, the intricate installation procedure is prone to errors or inefficiencies, thereby compromising overall performance and reliability. Consequently, the complexities associated with air spring installation dissuade potential customers from embracing these products, consequently restricting the Australia air spring market expansion.

The Integration of Sensor Technology in Air Springs Creates Opportunity

The incorporation of sensor technology into these springs is anticipated to unlock future market prospects. By integrating sensors into air bag systems, manufacturers can conduct real-time monitoring of pressure, temperature, and other critical parameters. This capability facilitates proactive maintenance, predictive analytics, and enhanced performance optimization, thereby boosting reliability and safety.

Furthermore, sensor-enabled air springs are poised to catalyze the development of intelligent, adaptive suspension systems capable of automatically adapting to diverse road conditions and driving dynamics.

With the automotive AI and industrial sectors increasingly prioritizing efficiency and automation, the demand for sensor-equipped air bags is expected to engender substantial growth opportunities in the foreseeable future.

Notably, key players in this domain such as Continental AG and Vibracoustic are spearheading innovation by integrating ultrasonic sensors into their air bags, underscoring the industry's dedication to advancement and progress.

Competitive Landscape

The promising key players operating in the Australia air spring industry include Continental AG, Bridgestone Industrial, Vibracoustic SE, Sumitomo Electric Industries, Ltd., Trelleborg AB, VDL Groep, Airtech (Akta? Holding), Hendrickson USA, L.L.C., BWI Group, Stemco, among others.

Australia Air Spring Market Key Segments

By Type

  • Convolute

    • Single

    • Multi

  • Rolling Lobe

  • Sleeve

By Sales Channel 

  • Original Equipment Manufacturer (OEM)

  • Aftermarket

By Application

  • Automotive

    • Passenger Cars

    • Buses

    • Trailer and Trucks    

  • Railways    

  • Industrial

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size Value in 2023

USD 70.8 million

Revenue Forecast in 2030

USD 108.3 million

Market Size Volume in 2023

369 thousand units

Volume Forecast in 2030

618 thousand units

Value Growth Rate

CAGR of 5.2% from 2024 to 2030

Volume Growth Rate

CAGR of 6.3% from 2024-2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Million (USD)

Market Volume Estimation

Thousand Unit

Growth Factors

  • The increase in industrial production is driving demand for air springs in the country
  • The rising urbanization is fueling the air spring market growth

Companies Profiled

10

Customization Scope

Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs.

KEY PLAYERS

  • Continental AG

  • Bridgestone Industrial

  • Vibracoustic SE

  • Sumitomo Electric Industries, Ltd.

  • Trelleborg AB

  • VDL Groep

  • Airtech (Akta? Holding)

  • Hendrickson USA, L.L.C.

  • BWI Group

  • Stemco

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Frequently Asked Questions

Australia air spring market is projected to grow at a CAGR of 5.2% to reach USD 108.3 million by 2030.

The key players in Australia air spring market include Continental AG, Bridgestone Industrial, Vibracoustic SE, Sumitomo Electric Industries, Ltd., Trelleborg AB, and others.

Australia air spring market was valued at USD 70.8 million in 2023

The high complexities associated with the installation of air spring hinders the market.

The integration of sensor-based technologies creates opportunities for the air spring in the coming future.

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