openPR Logo
Press release

Shock Absorbers Market is Estimated to be valued at US$ 23.7 Bn in 2022

09-20-2022 11:49 AM CET | Tourism, Cars, Traffic

Press release from: Persistence Market Research

/ PR Agency: Persistence Market Research
Shock Absorbers Market 2022

Shock Absorbers Market 2022

Shock Absorbers Market 2022

As per Persistence Market Research analysis, the global automotive shock absorbers market is estimated to be valued at US$ 23.7 Bn in 2022, expanding at a CAGR of more than 5% over the forecast period of 2021-2031.

Get Free Sample Copy@

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 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.

Request For Customization@

Competitive Landscape

The market is moderately fragmented, and is highly dependent on automotive sales. Leading players contribute significant market share. Small regional players might make this market even more competitive over the forecast period. Many key players are using the strategy of partnerships and mergers & acquisitions for acquiring maximum market share. Some of the key players in the market are KYB Corporation, ZF Friedrichshafen AG, Tenneco Inc., Hitachi Group, and SHOWA Corporation. They are expected to contribute a prominent market share as they have made significant innovative advancements over the years.

Market Projections

This is projected to be a fast-growing market over the forecast period due to expected increase in vehicle production and sales. However, as this is a matured market with high competition among manufacturers and suppliers, companies are expected to concentrate on research & development activities for the development of innovative automotive shock absorbers to suit the requirements of different vehicles. Demand for automotive shock absorbers is increasing in luxury vehicles due to adoption of electronically controlled adaptive damping systems in them, which gives excellent suspension control to vehicles as compared to ordinary automotive shock absorbers.

More Valuable Insights

The research report analyzes demand trends of automotive shock absorbers. The global automotive shock absorbers market report is based on the COVID-19 impact, macroeconomic factors, market trends, and market background. As per Persistence Market Research's scope, the market studied and analyzed on segments such as vehicle, design, product type, sales channel, and region. The report gives qualitative and quantitative information of automotive shock absorber companies. The report also tracks the market from both, supply side and demand side.

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.)

Buy Now@

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?

Related Reports-

India Tire Pressure Sensor And Airbag Sensor Market -

eVTOL Aircraft Market -

Media Contact:

Persistence Market Research
305 Broadway,7th Floor New York City, NY 10007 United States
Call +1-646-568-7751
Call +1 800-961-0353

About PersistenceMarketResearch:

Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Shock Absorbers Market is Estimated to be valued at US$ 23.7 Bn in 2022 here

News-ID: 2741283 • Views: 483

More Releases from Persistence Market Research

Wound Antiseptics Market Growth to Surge Owing to Increasing Adoption by End-use …
The global Wound Antiseptics Market is all set to witness a CAGR of 3.5% by the year 2032. With digitized communication channels making a beeline to the healthcare vertical, the advanced clinics are into virtual consultation mode, and this scenario is expected to continue even going forward. Regulatory approvals for this type of communication are on the way. Close to 70% of the public hospitals worldwide are being asked to
The Next Decade See Lentiviral Vectors Market Pushed Towards Exponential Advance …
The Lentiviral Vectors Market is slated to grow at a gracious rate of 11.4% by the year 2032. With value-oriented approach being the need of the hour, the healthcare vertical is likely to go the technologically advanced way in the next 10 years. With Big Data, AI comprising these advancements, the healthcare vertical is bound to create greater strides going forward. Lentiviral vectors are gene delivery mechanisms that are produced from
Global Cognitive Decline Market to Exhibit Increased Demand in the Coming Years
Owing to rising demand for non-invasive brain stimulation, the global cognitive decline market was valued at over US$ 2 Bn in 2020, and is expected to exhibit a CAGR of 5.8 % over the forecast period (2021-2031). Cognitive decline is a condition in which the brain does not work as well as it should. According to the Centers of Disease Control and Prevention (CDC) report, the prevalence of cognitive decline in
Demand for Glycan Analysis Market Driven by Shifting Consumer Perceptions and Gr …
Introduction Therapeutic monoclonal antibodies (mAbs) are glycoproteins produced by living cell systems and the process is known as protein glycosylation. The glycan moieties attached to the proteins directly affects in-vivo bioactivity, stability, solubility and metabolic activity of bio therapeutics or biopharmaceutical products. Glycosylation is a post-translational modification and, is a non-template driven enzymatic modification process. Its structure largely depends up on production methods and conditions. Due to this reason the product can

All 5 Releases

More Releases for Shock

Automotive Gas Shock Absorbers Market Forecast to 2028 Covid-19 Impact and Globa …
Automotive Gas Shock Absorbers is a device which dampens and absorbs shock impulses and reduces the effect of terrain on uneven roads. These shock absorbers ensure the driving comfort and safety of the passengers. The automotive gas shock absorber market is expected to grow tremendously due to increase in the sales of commercial and passenger vehicles and also because of the rising concern for safety. The research report focuses on the
Automotive Shock Absorbers Market
Automotive Shock Absorbers Market 2021-2027 Research Report provides a detailed analysis of global Automotive Shock Absorbers industry competition, driving forces, trends, opportunities, challenges, risks, sales channels, distributors and analysis of Porter’s five forces. This Automotive Shock Absorbers report examines the market size of Automotive Shock Absorbers Market by the top player, regions, array type, measurement, application, and industry. Download Sample Copy of this Report @ With the clear insight this report
Shock Wave Therapy Device Market: Value Added Features in Shock Wave Therapy Dev …
Exposition of the global shock wave therapy device market can be attributed to increase in number of musculoskeletal disorders across the globe. The global shock wave therapy device market was valued at over US$ 91.6 Mn in 2016 and is projected to surpass US$ 139.9 Mn by 2025, expanding at a CAGR of over 5.0% from 2017 to 2025. The global market is expanding at a considerable pace due to
Extracorporeal Shock Wave Lithotripsy Machine Market Report 2018: Segmentation b …
Global Extracorporeal Shock Wave Lithotripsy Machine market research report provides company profile for Dornier, Richard-Wolf, MTS, DirexGroup, Siemens, EDAP TMS, Storz, Medispec, WIKKON, HYDE, Sody, Haibin, Comermy and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to
Automotive Shock Absorber Industry in China | Estimated 180 Million Shock Sbsorb …
"China Automotive Shock Absorber Industry Report, 2018-2022" Shock absorber, an essential part of automotive suspension system, can absorb body vibration and make driving more smooth and comfortable. The Chinese market demand for automotive shock absorber reached 225 million units in 2017, a year-on-year rise of 7.2%, and is expected to hit 318 million units in 2022 thanks to rapid expansion of the automobile (NEV in particular) market. Request for Sample Pages of
Toxic Shock Market Registering Innovative technologies 2025
Global Toxic Shock Market: Snapshot The toxic shock syndrome (TSS) is an acute and multi-system illness caused by toxin-producing genus of Gram-positive bacteria—Staphylococcus aureus and Streptococcus pyogenes. The disease if left untreated may lead to severe complications and even resulting in multiple organ failure. The role of Gram-positive bacteria as pathogens in this toxin-mediated illness is gaining significance as there is high likelihood of the disease being underdiagnosed. Although, continuous advances