Global Bus Air Suspension System market will reach 1.12 billion US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/13

One of the most important growth driving factors of the global bus air suspension system market is the rising demand for luxury coaches and buses. High demand for public transport in India, China, and other emerging countries is predicted to augur well for the global market. On the other hand, high economic growth rate of these countries is expected to indirectly push the global market growth. The demand for luxury coaches and buses is foreseen to improve due to the increase in the need for intercity transportation.

One of the latest trends showing a strong rise in the global market is the increasing penetration of electronically controlled air suspension system (ECASS). High engine efficiency, decrease in fuel costs, and other benefits are foretold to increase the demand for ECASS. However, expensive cost of the adoption and development of advanced suspension systems is prophesied to delay the growth of the global market.

According to the analysts who have authored this report, the global market is predicted to grow at a sluggish CAGR of 0.3% during the forecast period 2019-2025. By 2025, it is expected to earn US$1.12 Bn, slightly improving its value from US$1.10 Bn obtained in 2018.

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