Japan 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
Japan Air Spring Market Overview
The Japan Air Spring Market size was valued at USD 464.5 million in 2023, and is predicted to reach USD 613.9 million by 2030, at a CAGR of 3.0% from 2024 to 2030. Also, the air spring market is valued at 2.2 million units in 2023, and is expected to reach at 3.2 million units by 2030 with the CAGR of 4.1% 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 Rising Initiatives by Key Players is Driving the Air Spring Market Growth in the Country
The initiatives taken by key companies, including UD Trucks and Continental AG, in launching advanced tractors are poised to drive the air spring market by increasing the demand for high-performance suspension systems. These companies are focusing on developing tractors with cutting-edge technology and superior ride comfort, which necessitates the use of advanced air springs.
For instance, in April 2023, UD Trucks launched their new powerful Quon GW 6x4 tractor in Japan, featuring air springs as a core component in the manufacturing process. This tractor, equipped with a 16-ton and 18-ton class 5th wheel and rear air suspension, provides ideal comfort for both cargo and the driver. Such advancements highlight the critical role in enhancing vehicle performance and comfort in the Japan air spring market demand.
The Rising Industrial Production is Propelling the Demand for Air Springs
The growth in industrial production is further propelling the air spring market by increasing the demand for these components in industrial machinery. According to the Ministry of Economy, Trade, and Industry (METI), industrial production in Japan surged by 4.2% in May 2023 compared to May 2022.
This robust growth rate in industrial activities elevates the demand for reliable and efficient air springs, which are essential for maintaining the performance and durability of industrial equipment. As industries continue to expand, the need for advanced shock absorption solutions becomes more pronounced, thereby contributing to the expansion of the air spring market in Japan.
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 Japan 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 Japan 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.
Japan Air Spring Market Key Segments
By Type
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Convolute
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Single
-
Multi
-
-
Rolling Lobe
-
Sleeve
By Sales Channel
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Original Equipment Manufacturer (OEM)
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Aftermarket
By Application
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Automotive
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Passenger Cars
-
Buses
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Trailer and Trucks
-
-
Railways
-
Industrial
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size Value in 2023 |
USD 464.5 million |
|
Revenue Forecast in 2030 |
USD 613.9 million |
|
Market Size Volume in 2023 |
2.2 million units |
|
Volume Forecast in 2030 |
3.2 million units |
|
Value Growth Rate |
CAGR of 3.0% from 2024 to 2030 |
|
Volume Growth Rate |
CAGR of 4.1% from 2024-2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Market Volume Estimation |
Million Unit |
|
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. |
KEY PLAYERS
-
Continental AG
-
Bridgestone Industrial
-
Vibracoustic SE
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Sumitomo Electric Industries, Ltd.
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Trelleborg AB
-
VDL Groep
-
Airtech (Akta? Holding)
-
Hendrickson USA, L.L.C.
-
BWI Group
-
Stemco
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