The global demand for Shock Absorber Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026. Whereas with regards to volume, the market was calculated XX Kilo Units in 2019 and foreseen to touch XX Kilo Units by 2026 with a CAGR of XX% during 2020-2026.
A shock absorber is a mechanical or hydraulic device intended to decrease the impact of going over the unpleasant ground, prompting improved ride quality. It help to control the effect and bounce back of springs and suspension. The shock absorber's key role is to guarantee that the vehicle's tires stay in contact with the street surface consistently, which ensures the most secure control and slowing down reaction from the vehicle. It does this by converting the shock's kinetic energy into the heat, which is then dissipated. Most popular shock absorbers are either twin-tube or mono-tube types. It is used in most automobiles like two or three-wheelers, cars, jeeps, tractors, and light motor vehicles.
Rising automotive sales and demand for increased comfort level drives the shock absorbers market's growth during the forecast period. The shock absorber in vehicles provides the following advantages: ensuring good rideability, increased comfort, driving safety, and reducing the incidence of traffic accidents, increasing the utility value of vehicles; and improved service life of vehicle parts, as vehicles are subjected to reduced impact and vibration forces constantly. All these factors contribute to the flourishing growth of the market. The demand for better ride comfort and safety in vehicles is increasing. Light commercial vehicle ride comfort optimization has been an active area of research. The two wheeler segment held a majority share in the market, followed by car and light commercial vehicles. Meanwhile, the economic downturn due to COVID-19 pandemic is predicted to
hamper the growth of the market.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of shock absorber.
The entire shock absorber market has been sub-categorized into type and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Hydraulic Type
- Pneumatic Type
- Other Type
This section covers regional segmentation which accentuates on current and future demand for shock absorber market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Shock Absorber Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the shock absorber market include ZF, Tenneco, KYB, Showa, Magneti Marelli, Mando, Bilstein, KONI, Anand, Hitachi, Chuannan Absorber, Ride Control. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.