The Global Automotive Shock Absorber Market was $11.50 Bn USD in 2021 and is growing at a CAGR of 1.57% year on year, it will reach $12.80 Bn USD in 2029.
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LOS ANGELES, CALIFORNIA, USA, March 6, 2023 /EINPresswire.com/ —
Automotive Shock Absorber Market Overview
Automotive shock absorbers are components of a car’s suspension system that are placed to lessen the force of collisions. In order to stop the car from bouncing and to improve driver control, shock absorbers act by compressing and absorbing the energy from the collision.
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Due to rising total sales, stricter safety regulations, and rising fuel economy standards, the market has seen a surge in demand from the automotive sector. Expanding sales of passenger cars, expansion in the commercial vehicle market, and rising public awareness of the significance of shock absorbers in vehicle safety are all contributing reasons to the expansion of this market.
Market Segment and Regional Analysis
The single-tube shock absorbers category is predicted to hold the greatest market share in the automotive shock absorber sector during the projection period of 2017–2021. The success of this sector may be attributed to the high demand for compact and lightweight cars. The twin-tube shock absorber market is anticipated to grow more slowly than the single-tube industry since a bigger initial investment is needed.
In 2016, the market for automotive shock absorbers was dominated by passenger cars, followed by commercial vehicles. Over the next five years, it is anticipated that the passenger vehicle segment will increase more quickly than the commercial vehicle segment. The desire for safer and more fuel-efficient passenger cars is the main cause of this.
In terms of market share, it was predicted that Europe will come in second, followed by Asia Pacific. In terms of volume, America held the highest market share. North America is anticipated to see the greatest CAGR from 2021 to 2029. The growth of this market region is projected to be fueled by elements like strict emissions rules, an expanding consumer base, and a rising preference for safety features. ZF, TENNECO, KYB Corporation, Hitachi Automotive Systems, Showa, Mando, Magneti Marelli, Bilstein, Nanyang Cijan Automobile, KONI, Gabrielo, ALKO, Roberto Nuti, Endurance,etc.
Key Market Segments Table: Automotive Shock Absorber Market
Based on types, the Automotive Shock Absorber Market is primarily split into:
• Single-Tube Shock Absorbers
• Twin-Tube Shock Absorbers
By Application, the Automotive Shock Absorber Market is primarily split into:
• Passenger Vehicles
• Commercial Vehicles
Measurement Center By geography, the Automotive Shock Absorber Market is divided into
• Asia Pacific
• Europe
• North America
• South America
• Middle East And Africa
Analysis of the impact of the Russia-Ukraine War and COVID-19
The market for vehicle shock absorbers has been significantly impacted by the Russia-Ukraine War and COVID-19. There is a shortage of replacement parts and components as a result of the conflict’s disruption of trade and transportation. Additionally, because buyers are hesitant to purchase automobiles that might be unsuited for usage, demand for new cars has been impacted. Despite these obstacles, it is anticipated that the automotive shock absorber market would expand at a CAGR of 7.2% during the following five years. This growth can be attributed to rising demand from nations with strong economic expansion, such China and India.
Key Drivers & barriers in the Automotive Shock Absorber Market
Rising desire for improved ride quality in passenger cars and commercial vehicles, as well as declining fuel costs, are some of the major factors anticipated to propel expansion in the automotive shock absorber market. High manufacturing costs and little product diversification are two major factors impeding the growth of the automotive shock absorber industry.
Key Benefits for Industry Participants & Stakeholders:
The following are some of the main advantages for stakeholders and industry participants:
• Improved auto safety: Shock absorbers are crucial to enhancing auto safety. They assist in absorbing impact forces, lessening the severity of collisions
and decreasing the likelihood that the vehicle may rollover or flip over in an accident. This lessens the chance of driver and passenger injuries as well as
property damage.
• Enhanced fuel economy: By lowering engine aerodynamic drag, automotive shock absorbers also assist improve mpg. This lowers emissions and
improves the fuel efficiency of the vehicle.
• Improved ride quality-A solid suspension system guarantees a smooth ride even on uneven roads or during abrupt acceleration or deceleration.
Uncomfortable vibrations and jolts from improperly tuned shocks can have a severe impact on passenger comfort.
Following is the list of TOC for the Automotive Shock Absorber Market:
• Report Overview
• Study Scope and Definition
• Research Methodology
• Key Market Segments
• Players Covered: Ranking by Automotive Shock Absorber Revenue
• Market Analysis by Type
• Market by Application
• Customer Support
• Personal Assistant
• Customer Engagement
• Retention
• Covid-19 Impact: Global Major Government Policy
• Global Automotive Shock Absorber Market Trends and Growth Strategy
• Global Automotive Shock Absorber Market Players Profiles
• Automotive Shock Absorber Company Profile
• Global Automotive Shock Absorber Production Capacity Market Share by Market Players
• Global Automotive Shock Absorber Revenue Market Share by Market Players
• Global Automotive Shock Absorber Production Forecast by Regions
• Global Automotive Shock Absorber Marketing Channel, Distributors, Customers and Supply Chain
• Analyst’s Viewpoints/Conclusions
• Disclaimer
Inquire or Share Your Questions If Any Before Purchasing This Report
Why is the Automotive Shock Absorber Market Research Report so Important?
• An overview of the automotive shock absorber market is provided in this study, together with data on historical growth rates, and current trends,
including changes in important markets, and potential future developments based on recent technological improvements.
• Additionally, it analyzes the rivalry between important manufacturers.
• This research offers useful information about the shock absorber market’s state right now and its potential for future growth.
• This study also covers a number of difficulties experienced by shock absorber industry players and potential remedies.
Amrita Pandey
Prime PR Wire
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