Top Companies in Air Suspension Industry - ZF Friedrichshafen AG (Germany), Continental AG (Germany), ThyssenKrupp AG (Germany) and Meritor Inc. (US)
The global Air Suspension Market is expected to grow from USD 10.0 billion in 2024 to 13.9 billion by 2030, it is projected to grow at a CAGR of 5.6% in the forecast period. Air suspensions play a very important part in a vehicle, as they provide comfort, ride quality, and stability. They also help reduce emissions by increasing fuel efficiency.
The air suspension market is dominated by some global and regional players. These players use various strategies to expand their market share, including new product launches, expansions, mergers & acquisitions, and partnerships/collaborations. These strategies help them improve innovation on their product offerings and expand their customer base. Some of these global players include ZF Friedrichshafen AG (Germany), Continental AG (Germany), ThyssenKrupp AG (Germany), Meritor Inc. (US), and SAF Holland (Germany).
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ZF Friedrichshafen AG is a German company that operates in various segments, including cars, light commercial vehicles, commercial vehicles, construction, agriculture, and marine machinery, and it offers a diverse product portfolio. Air suspension is provided under the cars, light commercial, and commercial vehicle segments. In July 2023, ZF announced a long-term agreement with Volta Trucks to provide core systems such as the Air Suspension system. In May, ZF also acquired WABCO and improved its air suspension product portfolio, which will help it strengthen its presence in North America and Europe. ZF currently employs 168,700 employees and has a global footprint in Europe, North America, Asia Pacific, South America, the Middle East, and Africa.
Continental AG is a German company that operates in various segments such as Tires, Autonomous Mobility and Safety, Contract Manufacturing, and ContiTech segments. The company provides Air suspension for different vehicle types, such as Passenger and commercial vehicles. Continental recently expanded its product portfolio in the aftermarket as well. PHOENIX Air Springs and PRIME-RIDE Air Springs are some of the brand’s popular products in the aftermarket. The company employs 202,763 people and has a global footprint in regions such as Germany, the USA, Austria, and the UK.
ThyssenKrupp AG is an international industrial and technological German company. It deals in five segments: automotive technology, decarbon technologies, materials services, steel Europe, and marine systems. Air suspension systems are provided in the automotive technology segment. The company mainly provides air suspension for Trucks and buses. ThyssenKrupp AG will expand its presence in China. China's new damper production line has been built at an existing ThyssenKrupp automotive site in Changzhou. The plant manufactures electronically adjustable damping systems to enhance the company's air suspension product output. ThyssenKrupp employs nearly 100,000 people and has a global presence in Germany, the United States, China, India, Brazil, Japan, the United Kingdom, and Spain.
Cummins – Meritor INC. is a corporation headquartered in Indiana, US. Cummins acquired Meritor in August 2022, and the acquisition helped Cummins improve its air suspension product portfolio. Also, it gave Cummins an edge over the others as it gained a strong presence in North America, Europe, Asia, and South America. The company offers various product offerings such as engines, generators, Brake systems, suspension systems, drivetrains, and many more. All these products are generally manufactured for commercial vehicles and industrial markets—the company currently employs 73,600 people.
Hendrickson L.L.C. is a company headquartered in the US and one of the leading providers of air suspensions for trucks and trailers. The company has a long history of innovation in vehicle innovation technology. The company provides products such as Suspension Systems, Bumpers, Components, and Axle Systems. In June 2024, the company acquired Reyco Granning, which specializes in manufacturing and marketing suspension solutions for heavy and medium-duty vehicles. In Aug 2023, Hendrickson announced a partnership with Peterbilt to offer the PRIMAAX® EX severe-duty vocational air suspension system as part of the chassis enhancements for the Peterbilt 567, 579, and 589 models. The company currently employs 2,400 people and has a global presence across Europe, specifically in England, Germany, and Austria, with two locations in France, Romania, and Poland.
Related Reports:
Air Suspension Market by Component (Air Spring, Compressor, ECU, Tank, Solenoid Valve, Height & Pressure Sensor), Technology (Electric, Non-Electric), Cab Suspension, Vehicle Type (Rigid, Semi-trailers), Aftermarket & Region - Global Forecast to 2030
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