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
The Italy Air Spring Market size was valued at USD 96.4 million in 2023, and is predicted to reach USD 135.6 million by 2030, at a CAGR of 4.0% from 2024 to 2030. Also, the air spring market is valued at 353 thousand units in 2023, and is expected to reach at 545 thousand units by 2030 with the CAGR of 5.1% 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 growth of the automotive sector in Italy is self-assured to drive the air spring market by enabling Italian automakers to expand their production and innovate with new models. This expansion leads to heightened demand for high-quality air springs that enhance ride comfort, vehicle stability, and overall performance.
According to the International Trade Administration (ITA), the two and three-wheeler sector in Italy produced 341,190 units in 2022, representing a 16% increase from 2021. This significant growth in the automotive sector stimulates the adoption of air springs as manufacturers strive to meet consumer expectations for smoother and more reliable vehicles. Consequently, this trend is contributing to the substantial Italy air spring market demand.
The growth of the manufacturing sector in Italy is further propelling the air spring market by increasing the production of industrial machinery that requires air springs to enhance performance, stability, and comfort. According to a report published by the International Trade Administration (ITA) in 2024, Italy is the second-largest manufacturing country in Europe and has a particularly strong presence in the manufacture of machinery, automotive parts, and other industrial goods.
This rising manufacturing output drives the adoption of innovative air spring solutions, which are essential for the efficient operation of various industrial applications. As a result, the expanding manufacturing sector in Italy is fueling the growth and expansion of the air spring market, underlining the importance of advanced suspension technologies in both automotive and industrial domains.
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 Italy air spring market expansion.
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.
The promising key players operating in the Italy 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.
Convolute
Single
Multi
Rolling Lobe
Sleeve
Original Equipment Manufacturer (OEM)
Aftermarket
Automotive
Passenger Cars
Buses
Trailer and Trucks
Railways
Industrial
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size Value in 2023 |
USD 96.4 million |
Revenue Forecast in 2030 |
USD 135.6 million |
Market Size Volume in 2023 |
353 thousand units |
Volume Forecast in 2030 |
545 thousand units |
Value Growth Rate |
CAGR of 4.0% from 2024 to 2030 |
Volume Growth Rate |
CAGR of 5.1% from 2024-2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Million (USD) |
Market Volume Estimation |
Thousand Units |
Growth Factors |
|
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. |
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