Automotive Shock Absorber Market Demand, Analysis, Forecast to 2020-2025
Market Scope
Automotive shock
absorbers market has significant growth scope and is estimated to reach USD
70.2 billion by 2025. The reports forecast the automotive shock absorbers
market by shock absorbers type, vehicle type, and region. It highlights
COVID-19 impact on the automotive shock absorbers industry.
Description
Automotive Shock Absorbers Market: by Type (Air
Shock Absorber, Damper Shock Absorber, Conventional Telescopic Shock Absorbers,
Strut Type Shock Absorbers, and Spring Seat Shocks), by Vehicle Type
(Two-wheeler, Commercial Vehicle, and Passenger Car), and by Region – Global
Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)
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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 a mechanical system 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 of 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.
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.
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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
·
Two-wheeler
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.
Competitive
Landscape
The top companies in the automotive shock
absorbers market are Samvardhana Motherson Group (SMG), Brinn Inc, Magneti
Marelli S.p.A., Tennerco Inc, and MeritorInc.
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.
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
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