Chan Ye Xin Xi Wang·2025-05-20 01:14Core Insights - The air suspension industry in China is experiencing rapid growth, particularly driven by the rise of electric vehicles and advancements in domestic suppliers' production technology [1][7][23] - In 2024, the sales volume of new cars equipped with standard air suspension in China is projected to reach 816,000 units, representing a year-on-year increase of 44.7%, with market penetration rising from 1.2% in 2022 to 3.6% [1][7] Industry Overview - Air suspension systems adjust vehicle height and stiffness by regulating gas pressure, utilizing components like air springs and electronic control dampers [1][5] - The air suspension market has evolved from pneumatic springs to more complex systems, including electronic control and air pumps, enhancing dynamic adjustment capabilities [1][7] Market Segmentation - Commercial Vehicle Air Suspension: The penetration rate for air suspension in commercial vehicles is currently between 6-8%, with a rigid demand of approximately 150,000 to 200,000 units annually for semi-trailers [9][13] - Passenger Vehicle Air Suspension: The penetration rate is lower due to high costs, but it is expected to grow significantly, with projections indicating a rise to 15% penetration and sales of 4.547 million units by 2027 [13] Competitive Landscape - The air suspension market in China is characterized by an oligopolistic structure, with the top three suppliers accounting for 86.7% of the market share in 2024 [16] - Domestic suppliers, including Konghui Technology, Top Group, and Baolong Technology, dominate the market, with their combined market share exceeding 85% [16][23] Development Trends - Accelerated Domestic Substitution: Local companies are rapidly replacing foreign suppliers in the air suspension market, achieving a market share of 65% and projected to exceed 85% by 2024 [23] - Technological Upgrades: The industry is moving towards intelligent and active suspension systems, integrating with autonomous driving technologies for enhanced vehicle performance [24][25] - Market Expansion: The air suspension market is expanding from high-end to mid-range vehicles, with significant growth expected in the coming years, particularly in the electric vehicle segment [26]