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Two-wheeler Shock Absorber Global Market Report 2024 To 2033 | ZF Friedrichshafen AG, KYB Corporation, Hitachi, Endurance Technologies Limited, Fox Racing Shox,Tenneco Inc
Two-wheeler Shock Absorber Market Share
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According to The Business Research Company's, The two-wheeler shock absorber market size has grown strongly in recent years. It will grow from $3.17 billion in 2023 to $3.34 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to rise in disposable income, increase in government funding to improve vehicle safety, increased demand for motorcycles and rise in the number of road accidents in two-wheelers..
The two-wheeler shock absorber market size is expected to see strong growth in the next few years. It will grow to $4.06 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to rowing number of women riders, increasing population, and rising urbanization. Major trends in the forecast period include adjustable mono suspension shock absorbers, development of advanced dual suspension shock absorbers, use of hydraulic technology in motorcycle suspensions and innovative products with focus on improved performance and increased adjustment..
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Market Drivers and Trends:
The increasing demand for motorcycles is expected to propel the growth of the two-wheeler shock absorber market going forward. Motorcycles refer to two-wheel vehicles used for travel and primarily as motorized personal transport. Two-wheeler shock absorbers provide control over the motorcycle movement suspension that ensures smoothened vibrations and bumps; as a result, increasing demand for motorcycles increases the need for the two-wheeler shock absorbers market. For instance, in February 2022, according to an article published by RevZilla, a US-based online motorcycle gear retailer Motorsport company, total motorcycle sales in the United States increased by 21.8% in 2021. Additionally, in November 2022, according to Zippia, a US-based career expert providing job recruitment services, the US bicycle sales increased to 52 million in 2022, with an approximate increase of 57% during 2020-2021. Therefore, the increasing demand for motorcycles drives the growth of the two-wheeler shock absorber market.
Technological innovations are a key trend gaining popularity in the two-wheeler shock absorber market. Major companies operating in the two-wheeler shock absorber market are introducing innovative products to sustain their position in the market. For instance, in June 2022, Öhlins Racing AB (Öhlins), a Sweden-based automotive industry company, launched the TTX22m.2 shock. The new and improved second iteration of the original TTX22m. This updated and enhanced product range with TTX technology provides greater bottom-out performance, improved fitting, and easier stroke adjustment specifically designed for the trail and downhill. The new bump rubber, in conjunction with the cup it rests in, functions as a second spring, loading and releasing energy to ensure the rider returns to position quickly and smoothly after a severe compression.
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Major Key Players of the Market:
TE Connectivity, Schneider Electric SE, Emerson Electric Co., ATEK Access Technologies, Varec Inc., Graco Inc., Piusi S.p.A., Dunraven Systems, Schmitt Industries Inc, Powelectrics Limited, Banner Engineering, Continental AG, Hitachi Automotive Systems, DENSO Corporation, MISENSOR, Wenzhou Shengnuo Automobile Electric Appliance Co. Ltd, Sigfox Partner Network, Arjay Engineering, AIUT, Bell, Senix, American Sensor Technologies Inc. (AST), Centeron, Gauging Systems Inc., Pneumercator, Smartlogix, Digi International Inc, Gilbarco-Veeder Root, Construserv Group, Kronhe, Maritronics, Abdul Zahir Bashir Group, Omnicomm, Technoton, Anytech (Pty) Ltd.
Two-wheeler Shock Absorber Market 2024 Key Insights:
• The two-wheeler shock absorber market size is expected to see strong growth in the next few years. It will grow to $4.06 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
• Surging Motorcycle Demand Fuels Growth In Two-Wheeler Shock Absorber Market
• Technological Innovations Drive Advancements In The Two-Wheeler Shock Absorber Market
• Asia-Pacific was the largest region in the two-wheeler shock absorber market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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