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How large is the market for rubber air springs?
2025-03-04
In 2023, the global air spring market was approximately 18.45 billion yuan, while the Chinese air spring market was approximately 2.56 billion yuan.
It is expected that from 2024 to 2028, the global air spring market will grow at a compound annual growth rate of around 6.5%. The "2024-2029 China Air Spring Industry Development Trend and Competition Strategy Research Report" predicts that by 2029, the global air spring market will reach 26.791 billion yuan, with a compound annual growth rate of 6.43% during the forecast period.
In the Chinese market, the air spring market has been developing rapidly in recent years, and is expected to grow at a rate higher than the global average in the next four years. The automotive sector is the largest area of demand for air springs in China, and its share has been steadily increasing in recent years. With the development of the new energy vehicle industry and the increase in vehicle ownership, the market demand for air springs will continue to expand.
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