Thailand Air Spring Market

Plastic Optic Fiber Market Report Thumbnail

Thailand 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: 04-Jul-2024 | No of Pages: 125 | No. of Tables: 92 | No. of Figures: 57 | Format: PDF | Report Code : N/A

  • Facebook
  • Twitter
  • Linkedin
  • Whatsapp

Thailand Air Spring Market Overview

The Thailand Air Spring Market size was valued at USD 139.1 million in 2023, and is predicted to reach USD 218.0 million by 2030, at a CAGR of 5.6% from 2024 to 2030. Also, the air spring market is valued at 710 thousand units in 2023, and is expected to reach at 1214 thousand units by 2030 with the CAGR of 6.7% 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 Automotive Industry is Driving Demand for Air Springs

The rising automotive industry in Thailand is significantly driving the air spring market by increasing the demand for superior shock absorption and stability in vehicles. According to the Thailand Automotive Institute, the automotive industry in Thailand experienced a 4% growth from March 2022 to March 2023.

This increase in automotive production heightens the demand for air springs, which are essential for enhancing ride comfort and vehicle stability. Consequently, the expanding automotive industry is a key contributor to the Thailand air spring market demand.

The Increasing Urbanization is Fueling the Air Spring Market Growth in the Country

The growth of urbanization in Thailand is another crucial factor driving the air spring market by escalating the need for efficient transportation solutions in urban areas. According to data from the Central Intelligence Agency (CIA), 53.6% of Thailand's population resided in urban areas in 2023, with projections indicating an annual increase of 1.43% until 2025.

This urban growth directly boosts the demand for air spring systems, as these components are vital for ensuring comfortable and stable transportation in densely populated urban environments. The increasing urbanization in Thailand thus significantly contributes to the expansion of 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 Thailand 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 Thailand 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.

Thailand 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 139.1 million

Revenue Forecast in 2030

USD 218.0 million

Market Size Volume in 2023

710 thousand units

Volume Forecast in 2030

1214 thousand units

Value Growth Rate

CAGR of 5.6% from 2024 to 2030

Volume Growth Rate

CAGR of 6.7% 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 rising automotive industry is driving demand for air springs
  • The increasing urbanization is fueling the air spring market growth in the country

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

Bar chart Pie chart Pie chart

Frequently Asked Questions

Thailand air spring market is projected to grow at a CAGR of 5.6% to reach USD 218.0 million by 2030.

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

Thailand air spring market was valued at USD 139.1 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.

Download Free Sample

Please Enter Full Name

Please Enter Valid Email ID

Please enter Country Code and Phone No

Please enter message

popular
$2,575
$1,575
$3,875
$2,975

This website uses cookies to ensure you get the best experience on our website. Learn more