Global Automotive Shock Absorber Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027

"Global Automotive Shock Absorber Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global automotive shock absorber market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global automotive shock absorber market report has been segmented on the basis of product type, vehicle type, sales channel, and region.

Introduction:

Automotive shock absorber is a mechanical or hydraulic device that is used to absorb energy and provide a comfort ride to the passenger. The main purpose of a shock absorber is to improve the ride for the passenger and to reduce the bumps created due to rough terrain roads. They support the vehicle weight and reduce vibrations. Furthermore, shock absorbers are also used to enhance the drivability and controllability of vehicles.

Market Dynamics:

Consumers are becoming more conscious about better riding quality, which is pushing the market towards growth. Increasing investment and increasing R&D activities expected to drive the growth of the target market. Moreover, technological advancement and product innovations in material and design have further anticipated to enhance the market growth over the long run. Rising pollution levels coupled with increasing road congestion are encouraging several countries to heavily invest for safer road transport and improve the ride for the passenger. Further, several manufacturers are focusing on the gas filled twin tube automotive shock absorbers to improve comfort level and driving experience.

Whereas, adoption of electronic automotive shock absorber systems as an alternative to the target product and high replacement cost are some of the factors are expected to hamper the global automotive shock absorbers market over the forecast period.

Segmentation Analysis:

Global market is segmented on the basis of product type, vehicle type, sales channel, and geography. By product type, the market is further segmented into twin tube, and mono tube. Twin tube segment is expected to hold significant share in the market over the forecast period, owing to increasing demand for gas filled twin tube automotive shock absorbers to enhance the overall comfort level and driving experience. By vehicle type, global market is segmented into passenger vehicle and commercial vehicle. Commercial vehicle segment is projected to be the most lucrative segment during the forecast. On the basis of sales channel, the target market is segmented into OEM and aftermarket. OEM segment is expected to lead the global market due to rising focus on weight reduction of shock absorbers in order to improve the efficiency of the vehicles.

Regional Analysis:

The market in the Asia Pacific accounted for largest revenue share in the global market followed by markets in North America, Europe, and Middle East & Africa respectively. Factors such as rising automotive production and increase in disposable income, especially in regional economies such as China, India, and Japan giving a new way for growth of the market. Rapid expansion in industrialization and technological advancements in the automotive production sector are anticipated to fuel the market in countries in the region. In addition, increasing competition in the automotive industry, luxury and premium car manufacturers are increasing their focus on high-performance vehicles. Moreover, manufacturers majorly focusing to produce improved devices with lightweight components, which is expected to boost the market growth.  Middle East & Africa are apparent to exhibit rising demand for automotive shock absorbers during the forecast period.

Global Automotive Shock Absorber Market Segmentation: 

Segmentation on the basis of Product Type:

• Twin Tube
• Mono Tube

Segmentation on the basis of Vehicle Type:

• Passenger Vehicle
• Commercial Vehicle

Segmentation on the basis of Sales Channel:

• OEM
• Aftermarket

Segmentation on the basis of Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa