Automotive Shock Absorber Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

The automotive shock absorber market is expected to register a CAGR of 4.5% during 2023–2031. The rising global demand for vehicles, particularly passenger cars, commercial vehicles is posing the need for advanced and reliable suspension systems and as automotive manufacturers striving to enhance vehicle performance, safety, and comfort, the demand for innovative and shock absorber materials and designs is growing.

Automotive Shock Absorber Market Analysis

The Automotive Shock Absorber Market is gaining traction due to factors such as an increase in demand for safety and comfort, the growth of the automotive aftermarket industry, and a surge in demand for lightweight automotive shock absorbers, which are anticipated to drive the growth of the shock absorber market. Additionally, technological advancements in shock absorbers and increasing electric vehicle adoption are projected to offer growth opportunities for the market players in the automotive shock absorber market.

Automotive Shock Absorber Market Overview

The shock absorber market is a particular sector within the automotive and industrial components industry, that focuses on the design, production, and distribution of shock absorbers that are crucial for managing and controlling vibrations in machinery and vehicles. A vehicle's suspension system includes shock absorbers, which are responsible for absorbing and reducing kinetic energy produced during the operation of heavy machinery. The automotive shock market offers solutions that improve ride comfort, stability, and overall vehicle performance, operating at the nexus of automotive engineering, materials science, and manufacturing. Shock absorber types vary by their application. It is used from such as motorcycles, off-road vehicles, industrial machinery passenger cars and commercial trucks, targets of the shock absorber market. Hydraulic, gas-charged, and electronically controlled shock absorbers are common types.

The shock absorber market gaining traction due to advancements in material technologies, advanced materials that are robust and durable but still light in weight, aids to reduce the overall weight of shock absorbers. This consistent development in automotive industry's focusing on light weighting in order to improve fuel efficiency and reduce environmental impact.

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Automotive Shock Absorber Market: Strategic Insights

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Automotive Shock Absorber Market Drivers and Opportunities

Increase in Preference for Safety and Comfort

The demand for comfortable driving experiences such as easy handling, sitting structure, and aerodynamics has risen significantly in recent years. This has pushed the need for better shock absorbers, providing improved stability for vehicles. To meet the demand, manufacturers are also developing new comfort features such as enhancing stability and reducing impact of bumps in their vehicles, maintaining vertical loads placed on tires by providing resistance to vehicle roll, bounce, and control, which boosts demand for shock absorbers also, reduce brake dive along with acceleration squat to achieve a balanced ride. Shock absorbers offer multiple spring seats and ride height settings, which provide better stability and comfort during driving. Therefore, the rise in demand for comfort and safety is surging demand for shock absorbers across the globe.

Growth Of the Automotive Aftermarket Industry

The increasing in number of owning vehicles creates need for aftermarket, for repair and replacement of automotive parts. This industry comprises car components, tires, equipment, service repair, collision repair, and accessories sold after the sale of vehicles and activities such as manufacture, distribute, retail, install, and remanufacture all types of automobile parts and accessories. Due to growth rate of online parts sales, technology improvements, digitalization of vehicle repair and component sales has emerged, which has supported growth of the automotive aftermarket industry.

Automotive Shock Absorber Market Report Segmentation Analysis

Key segments that contributed to the derivation of the automotive shock absorber market analysis are type, design, and vehicle type.

• Based on type, the automotive shock absorber market is divided into Hydraulic, and Pneumatic.
• Based on design, the automotive shock absorber market is divided into Twin Tube and Mono Tube.
• On the basis of vehicle type, the market is divided into Passenger Cars and Commercial Vehicles.

Automotive Shock Absorber Market Share Analysis by Geography

Automotive Shock Absorber Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering automotive shock absorber market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level. Also, the report covers PEST analysis, which involves the study of major factors that influence the automotive shock absorber market in these regions.

Automotive Shock Absorber Market Regional Insights

The regional trends and factors influencing the Automotive Shock Absorber Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Shock Absorber Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Automotive Shock Absorber Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Automotive Shock Absorber Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Automotive Shock Absorber Market are:

1. Apollo
2. Arnott Inc.
3. Bilstein
4. Duro Shox Pvt. Ltd.
5. Gabriel India Ltd.
6. Hitachi

Disclaimer: The companies listed above are not ranked in any particular order.

Automotive Shock Absorber Market News and Recent Developments

The automotive shock absorber market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive shock absorber market are listed below:

• Tenneco’s globally recognized Öhlins® Racing business has set its sights on market leadership in the truck and SUV performance category with a new portfolio of ultra-premium suspension systems. New Öhlins ÖRX™ suspension products feature several of the latest Öhlins technologies and other features preferred by racing champions and enthusiasts who want to experience new levels of driving precision, performance and excitement. (Source: Öhlins® Racing, Company Website, May 2023)

Automotive Shock Absorber Market Report Coverage and Deliverables

The “Automotive Shock Absorber Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Automotive shock absorber market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Automotive shock absorber market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Automotive shock absorber market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the automotive shock absorber market.
• Detailed company profiles