UK 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
The UK Air Spring Market Overview
The UK Air Spring Market size was valued at USD 98.0 million in 2023, and is predicted to reach USD 162.0 million by 2030, at a CAGR of 6.4% from 2024 to 2030. Also, the air spring market is valued at 393 thousand units in 2023, and is expected to reach at 713 thousand units by 2030 with the CAGR of 7.5% 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 Increasing Self-Driving Vehicles Drives the UK Air Spring Market in the Country
The rise of self-driving vehicles in the UK is significantly propelling the air spring market by enhancing the overall ride experience. These autonomous cars aim to provide a more pleasant and comfortable journey for passengers, allowing them to work, relax, or even sleep during travel. According to a report published by the UK government, it is expected that 40% of new cars in the UK will have self-driving capabilities by 2035. This anticipated increase in self-driving vehicles creates a surge in demand for air springs, which are essential for ensuring a smooth and stable ride, thereby driving the UK air spring market demand.
The Rising Partnerships Fosters Innovation and Increase the Demand for the UK Air Spring Market
The growing number of partnerships among companies in the UK is another driver of the air spring market, fostering innovation and expanding product offerings. These collaborations bring together the expertise and resources of different firms, leading to the development of advanced air spring technologies that enhance vehicle comfort and performance.
Such partnerships also improve market reach and distribution, ensuring a wider availability of high-quality air springs to meet the diverse needs of the automotive AI industry. For instance, in February 2023, Marathon partnered with Arnott to provide customers with a broader range of air spring products. This strategic alliance accelerates market growth and the adoption of air springs across the UK, by combining strengths to deliver superior suspension solutions.
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 UK air spring market expansion.
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 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 UK 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.
UK Air Spring Market Key Segments
By Type
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Convolute
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Single
-
Multi
-
-
Rolling Lobe
-
Sleeve
By Sales Channel
-
Original Equipment Manufacturer (OEM)
-
Aftermarket
By Application
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Automotive
-
Passenger Cars
-
Buses
-
Trailer and Trucks
-
-
Railways
-
Industrial
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size Value in 2023 |
USD 98.0 million |
|
Revenue Forecast in 2030 |
USD 162.0 million |
|
Market Size Volume in 2023 |
393 thousand units |
|
Volume Forecast in 2030 |
713 thousand units |
|
Value Growth Rate |
CAGR of 6.4% from 2024 to 2030 |
|
Volume Growth Rate |
CAGR of 7.5% 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. |
KEY PLAYERS
-
Continental AG
-
Bridgestone Industrial
-
Vibracoustic SE
-
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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