The automotive shock absorbers market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating in the global market. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The report’s study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the automotive shock absorbers industry. Also, the report identifies and highlights the COVID-19 impact on the automotive shock absorbers market.
Automotive Shock Absorbers Market: Introduction
Shock absorbers are also known as dampers. Shock absorbers are mechanical systems intended to absorb and damp shock impulses in a car/vehicle. These shock absorbers stabilize the cars/vehicles on rough surfaces or uneven roads. Shock absorber enhances the driving experience and leads to better efficiency and handling of the cars/vehicles. Moreover, smoothing out bumps and shocks, the shock absorbers’ primary function is to ensure that the vehicle’s tires stay in contact with the ground surface at all times along with the proper braking response. Shock absorbers transform the shock’s kinetic energy into heat energy, which dissipates afterward. Shock absorbers have electric valves that allow a ride height change or even ride height control.
Automotive Shock Absorbers: Market Dynamics
The automotive shock absorbers market’s driving forces are increasing automobile demand, safety concern, and comfort driving in every condition. Moreover, the growing automotive aftermarket and the development of advanced suspension technology are key factors that will boost the growth of the automotive shock absorber market. Owing to increasing urbanization and smart cities, and rising daily commuting distances, some important factors will increase the demand for new vehicles and affirmatively impact the growth of the automotive shock absorber market.
Increasing demand for automobiles and rates of emissions combined with rising traffic congestion forces many countries to put some auto components regulations. These regulations compel the manufacturers the development of lightweight automotive shock absorber.
Increasing demand for cost-efficient and lightweight automotive shock absorbers can create opportunities for new players in the global automotive shock absorber market. Demand for regenerative shock absorbers is expected to increase due to their application in electric and hybrid vehicles. Increasing road freight transport across the globe is expected to improve commercial vehicle production, resulting in the need for auto parts and components and directly fuel the growth of the automotive shock absorber market. Moreover, the rapid growth in the number of suppliers, dealers, and internet distribution partners is expected to create new opportunities in the automotive shock absorber market.
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The aftermarket includes many counterfeit products that can pose a significant challenge for key players in the automotive shock absorbers market. Moreover, in developing countries, lower repair costs and higher new product costs may hamper the growth of automotive shock absorbers aftermarket.
COVID-19 is projected to dramatically influence the supply chain and product demand in the automotive market. Besides, changes in consumer purchasing behavior due to uncertainty surrounding the pandemic may have significant consequences for the near future growth of the industry.
Scope of the Report
The report outlines the automotive shock absorbers market study based on shock absorber type and vehicle type.
Based on the shock absorber type, the automotive shock absorber market is segmented into-
- Air Shock Absorber
- Damper Shock Absorber
- Conventional Telescopic Shock Absorber
- Strut Type Shock Absorber
- Spring Seat Shock
Based on vehicle type, the automotive shock absorber market is segmented into-
- Commercial vehicle
- Passenger car
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Automotive Shock Absorber Market: Regional Lookout
The global automotive shock absorber market is moderately fragmented and is expected to steady growth across the forecast period. In the Asia Pacific, the demand for shock absorbers increases due to growth in the replacement rate of shock absorbers in automobiles and increasing vehicle safety and comfort. Moreover, Asia-Pacific has dominated the global automotive shock absorbers in terms of volume and value, both followed by Europe and North America. In the Asia Pacific shock absorber market, India and China are the prominent countries for the market’s growth.
Due to increased demand for vehicle ownership and enhanced living standards in the developing regions, the automotive industry is expected to grow with a high relatively high growth rate in the near future. Rapid expansion in industrialization and technological advances in the automotive manufacturing sector in developed economies such as the US, Germany, France are expected to fuel the market’s growth. With increasing competition in the automotive industry, luxury and premium automobile manufacturers are now focusing on high-performance vehicles. Middle East & Africa is expected to show increased demand for automotive shock absorbers due to regular repair and maintenance of their cars.
The top companies in the automotive shock absorbers market are Samvardhana Motherson Group (SMG), Brinn Inc, Magneti Marelli S.p.A., Tennerco Inc, and Meritor Inc.
Other leading companies in the automotive shock absorbers market are ZF Friedrichshafen AG, Hitachi Automotive Systems Ltd., Gabriel India Limited, AC Delco Inc, Arnott Inc, and KYB Corporation. Many manufacturers collaborated with regional suppliers over the last few years to increase their sales.
- In June 2018, KYB Corporation partnered with a supplier of vehicle parts. It formed a new business named KYB Manufacturing to do Brasil Fabricante de Autopecas S.A. in Brazil to strengthen its business in the Latin America region of automotive shock absorbers.
- ZF Friedrichshafen AG started a joint venture with e.GO Moove GmbH in June 2018 to manufacture movers for autonomous and electric people. It is expected to speed up automotive shock absorbers integration in new vehicles.
The automotive shock absorbers market report provides a thorough analysis of macro-economic factors along with the market attractiveness of every segment. The report will include an in-depth qualitative and quantitative assessment of segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs from industry participants and industry experts across the value chain.
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The automotive shock absorbers market report covers comprehensive analysis on:
- Market Dynamics
- Market Segmentation
- Regional Analysis
- Market Size in Value
- Pricing Analysis
- Trade Analysis
- Market Factor Analysis
- Market Trends
- Regulatory Landscape
- Competition Landscape
- Company Profiles
Regional Analysis Includes:
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
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Automotive Shock Absorbers: Target Audience
- Automotive shock absorbers manufacturers
- Automobile/Car/Vehicle manufacturers
- Trade publications and magazines
- Government authorities, associations, and organizations