The global Chassis Leveling Valves market is expected to witness a market value of US$ 9.3 Billion in 2023 and is expected to accumulate a market value of US$ 13.2 Billion by registering a CAGR of 3.6% in the forecast period 2023 to 2033. The Chassis Leveling Valves market registered a CAGR of 2.2% in the historical period 2018 to 2022. Factors such as the technological advancements, as well as the strengthening of drive comfort standards globally, are expected to boost the market growth over the analysis period.
As per Future Market Insights - market research and competitive intelligence provider, the global market value for Chassis Leveling Valves has been flourished. As the global economy continues to grow, there is an increasing demand for luxury vehicles that provide a comfortable and safe ride. Chassis leveling valves are an essential component of luxury vehicles, contributing to their smooth handling and ride quality. Hence, this factor is anticipated to boost the growth of the chassis leveling valves market in the near future.
Nowadays, there has been a huge adoption of lightweight materials. Manufacturers are increasingly using lightweight materials, such as aluminum and composite materials, in the production of vehicles. Chassis leveling valves are designed to work with these lightweight materials, contributing to better fuel efficiency and performance. This is one of the major factors that is anticipated to propel the market growth in the forthcoming years.
Furthermore, off-road vehicles, such as SUVs and pickup trucks, are becoming more popular, driven by the growing demand for adventure and outdoor activities. Chassis leveling valves are crucial components of these vehicles, ensuring their stability and balance while navigating through rough terrain. Thus, an increase in the demand for off-road vehicles is another factor that is likely to fuel the revenue share of the chassis leveling valves market.
The growth of the Chassis Leveling Valves Market is also driven by the growing trend of electric vehicles. As more and more people become aware of the environmental impact of fossil fuel-powered vehicles, the demand for electric vehicles is increasing. Chassis leveling valves are essential components of electric vehicles, as they help maintain the proper balance and stability of these vehicles.
Moreover, the need for better ride quality is also expected to escalate the market growth during the forecast period. As vehicle technology continues to advance, there is a growing demand for a smoother and more comfortable ride. Chassis leveling valves help maintain the balance and stability of a vehicle, reducing vibrations and ensuring a smoother ride.
On the regional end, the Chassis Leveling Valves market in North America is expected to account for the maximum share during the analysis period, owing to the factors such as the increasing demand for commercial vehicles, the need for improved ride quality and safety features, the growth of the automotive industry, as well as the technological advancements.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the designing of Chassis Leveling Valves are expected to create lucrative opportunities for the market growth over the analysis period.
For instance, in January 2022, Spartan RV Chassis launched Red Diamond™ Leveling System, which is an exclusive one-touch aftermarket option. Leading-edge technology provides stress-free air leveling. The Leveling System brings quick and easy leveling to your RV, without the use of jacks. The system’s features include manual leveling with control of each air spring while traveling at low speeds or while in park, an adjustable entry height to ease ingress and egress, as well as an automatic protection against chassis twist.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 9.3 Billion |
| Projected Market Value in 2033 | US$ 13.2 Billion |
| Growth Rate (2023 to 2033) | 3.6% CAGR |
The market expansion is predicted to be fueled by technological advancements and the strengthening of drive comfort standards around the world.
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Suspension adjustment for automobiles with air springs is provided by a chassis leveling valve. It carefully regulates compressed air in the suspension bellows in proportion to the weight on the vehicle.
The chassis leveling valves maintains a steady ride height by charging and de-charging the air suspension during loading and unloading. Chassis leveling valves is a type of an air suspension system.
Passengers will be more comfortable, cargo will be less damaged, and driver tiredness will be reduced on lengthy voyages if the ride is of high quality. Suspension is crucial for the quality of rides and car handling control, since cars with firm suspension may have better body control and quicker reactions. As a result of these reasons, demand for increased driving comfort has increased, favorably impacting the demand for these valves.
In recent years, there has been an increase in global demand for SUVs. Due to the low cost, compact size, modern designs, and superior agility, the SUV and sub-compact SUV industry has seen significant growth in nations such as the USA, India, China and Mexico. As result of growing demand for SUVs, the sales of these valves has increased.
Consumer preferences and regulatory markets are quickly catching up to the incorporation of new technologies in modern cars and big vehicles. As a result, there is fierce competition among competitor manufacturers to produce light weight, good body support, and payload with torsional flexibility.
The development of ultra-light valves, which allows new businesses to enter the market without having to invest heavily in R&D, is projected to spur market expansion.
Manufacturers and suppliers have developed highly technical valves to meet the needs of various vehicle models in the current scenario. These valves can significantly improve the vehicle's ride quality and fulfil the consumer's performance expectations.
The region is the one of the world's biggest producer of chassis leveling valves, and this position is projected to be maintained in the next years. The urban population’s spending power in North America is steadily expanding, owing to improved employment possibilities and higher living standards in urban regions.
Because the region contains developed economies, this market in the region is expected to grow at a steady rate. USA, where the rate of use of chassis leveling valves in automobiles is significant, is projected to be the market leader in North America. As a result, the demand for chassis leveling valves in the country is booming.
Principal Consultant
Due to its greater adoption rate of various types of air suspension sensors across all vehicle types than other areas such as North America and Asia, Europe is expected to lead the valves industry throughout the forecast period. OEMs such as Mercedes-Benz, BMW, Audi, Porsche, and Land Rover offer ECAS technology in specific models to enhance benefits such as height raising and lowering possibilities which is boosting the market.
Semi-trailers and multi-axle buses have a greater rate of chassis leveling valves installation in commercial vehicles. In addition, technology-driven suppliers are always working to provide the most advanced valve technology for light and heavy commercial vehicles.
Some of the leading manufacturers and suppliers include
These companies offer a diverse range of valves products and solutions, have strong global distribution networks, and invest heavily in research and development to develop new products.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Chassis Leveling Valves Market
