Press release
Shock Absorbers Market 2021 Projection by Types, Countries and Manufacturers to 2031- KYB Corporation, ZF Friedrichshafen AG, Tenneco Inc., Hitachi Group and more
Shock Absorbers Market 2021
Report Details:
As per Persistence Market Research analysis, the global automotive shock absorbers market is estimated to be valued at US$ 23.7 Bn in 2021, expanding at a CAGR of more than 5% over the forecast period of 2021-2031.
Automotive shock absorbers are hydraulic devices that absorb damp shock impulses from vehicles. Increase in production of vehicles and growing vehicle parc are driving demand for automotive shock absorbers across regions. Increased use of advanced shock absorbers such as regenerative shock absorbers is boosting market growth. Demand for hydraulic shock absorbers will continue to remain high over the next ten years, with this type holding more than two-third market share through 2031.
Key Players:
The report has profiled some of the Important players prevalent in the global like – KYB Corporation, ZF Friedrichshafen AG, Tenneco Inc., Hitachi Group, ThyssenKrupp AG, SHOWA Corporation, Samvardhana Motherson Automotive Group, BMW Group, ITT Corporation, Gabriel India Limited, Meritor, Inc., Endurance Complete Solutions, BWI Group, Magneti Marelli S.p.A., Duro Shox Pvt Ltd., Arnott Inc., ACDelco, Inc., Zhejiang Sensen Auto Parts Co., Ltd.and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Shock Absorbers.
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Key Takeaways from Market Study
The global automotive industry has seen significant growth in recent times, which, in turn, has increased demand of automotive shock absorbers. Increase in number of vehicles on road and rise in demand for comfort level in vehicles are driving sales across regions.
The market is expected to grow significantly in Asia Pacific due to expansion of the automobile industry in Japan, India, and China. India is manufacturing and exporting automotive shock absorbers and struts on a large scale.
Many manufacturers are using an innovative approach for suspension design. For example: The Lexus ES uses Swing Valve Automotive Shock Absorbers that provide an appropriate damping force even when the slightest movement is experienced in the car’s wheels and suspension.
Hydraulic automotive shock absorbers to remain most sought-after over the coming years.
Use of automotive shock absorbers to remain highest in passenger vehicles across the world.
Twin tube design automotive shock absorbers to enjoy over 80% market share by 2031-end.
The market in the U.S. is expected to expand at close to 4% CAGR through 2031. For China, Japan, and India, expected CAGRs are 5.4%, 5.2%, and 6.5%, respectively.
Due to the COVID-19 pandemic, demand for automotive shock absorbers has been badly hit, with 2020 growth rate being -14.4%, and 2021 expected growth rate being -6.3%.
“Rising demand for different types of vehicles in recent years and increase in electric vehicle sales are driving factors for the automotive shock absorbers market,’’ says a Persistence Market Research analyst.
Complete Report Details@https://www.persistencemarketresearch.com/market-research/shock-absorbers-market.asp
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Shock Absorbers Market Manufacturers
Shock Absorbers Market Distributors/Traders/Wholesalers
Shock Absorbers Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
If you have any special requirements, please let us know and we will offer you the report as you want.
Major Highlights of the Shock Absorbers Market Report:
The Shock Absorbers Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
The report dives deeper into the market and explains the dynamic factors bolstering market growth.
The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
The report analyzes the Shock Absorbers Market presence across major regions of the world.
It determines the production & consumption capacities and demand & supply dynamics of each regional market.
The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
It provides company overview and SWOT analysis of each of the market players.
Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
If you have any special requirements, please let us know and we will offer you the report as you want and also We Provide you Table of Content.
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Media Contact:
Persistence Market Research
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About PersistenceMarketResearch:
PersistenceMarketResearch is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
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