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Rising Automobile Demand Fuels Surge In Automotive Shock Absorber Market: Key Factor Driving The Growth In The Automotive Shock Absorber Market
Automotive Shock Absorber
What Is the Expected Automotive Shock Absorber Market Size During the Forecast Period?
The Automotive Shock Absorber Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Automotive Shock Absorber Market Size During the Forecast Period?
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What Are the High-Growth Segments in the Automotive Shock Absorber Market?
The automotive shock absorber market covered in this report is segmented -
1) By Type: Single-Tube Shock Absorbers, Twin-Tube Shock Absorbers
2) By Product Type: Hydraulic Type, Gas-Filled Type
3) By Technology: Air Shock Absorber, Damping Shock Absorber, Active, Semi-Active
4) By Sales Channel: Original Equipment Manufacturer (OEM), After market
5) By Application: Passenger Car, SUV Truck, Heavy Vehicle, Electric vehicle, Other Applications
Subsegments:
1) By Single-Tube Shock Absorbers: Gas-Charged Single-Tube Shock Absorbers, Oil-Filled Single-Tube Shock Absorbers
2) By Twin-Tube Shock Absorbers: Gas-Charged Twin-Tube Shock Absorbers, Oil-Filled Twin-Tube Shock Absorbers
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What Key Drivers Are Expected to Influence Future Automotive Shock Absorber Market Growth?
The automotive shock absorber market's expansion is projected to be driven by the rising need for vehicles. Vehicles, often referred to as cars, are self-driven wheeled transport mechanisms used for travelling on roadways. Vehicles employ shock absorbers to manage the movement of the suspension and ensure the continuous contact of tires with the road surface. For example, the European Automobile Manufacturers' Association (ACEA), a Belgium-based group advocating and setting standards for the car industry, shared that the EU vehicle market had a robust growth in January 2024. It saw a 13.9% sales increase in 2023, resulting in 867,052 units sold as compared to the previous year, elevating the total yearly units to 10.5 million. Several markets saw two-figure growth, including three of the largest: Italy (up 18.9%), Spain (up 16.7%), and France (up 16.1%). Germany, though, noted a somewhat minor annual growth of 7.3%. Thus, the surging need for vehicles is fuelling the expansion of the shock absorbers industry in the automotive sector.
Which Companies Hold the Largest Share Across Different Automotive Shock Absorber Market Segments?
Major companies operating in the automotive shock absorber market include ZF Friedrichshafen AG, Magna International Inc., Tenneco Inc., Marelli Europe S.p.A., Benteler Automotive Corporation, Mando Corporation, Sumitomo Riko Company Limited, KYB Corporation, Hitachi Astemo Ltd., Continental AG, Moog Inc., Meritor Inc., Showa Corporation, FOX Factory Holding Corp., Endurance Technologies Limited, BWI Group, DMA Sales Inc., Arnott Industries, Denso Corporation, KONI BV, Datsons Engineering Works Pvt Ltd., Brinn Inc., ACDelco Corporation, H&R Spezialfedern GmbH & Co. KG, FCS Automotive International Inc., Ohlins Racing AB, QBAutomotive LLC, Kobe Suspension Co Pvt Ltd.
What Trends Are Driving Growth in The Automotive Shock Absorber Market?
The rising trend of product innovation is making a significant impact in the automotive shock absorber industry. To maintain their competitive edge in the market, leading corporations in this sector are embracing innovative products. For instance, ZF Friedrichshafen AG, an automotive component provider from Germany, introduced the TRW shock absorbers to the market in April 2023. These shock absorbers are unique due to their compliance with rigorous Original Equipment (OE) quality standards, which ensures outstanding performance that bolsters vehicle safety, comfort, and handling. The TRW shock absorbers utilize sophisticated technology, featuring a piston rod surface that is 20% smoother for minimal friction and longer durability, in addition to metallic discs in the piston valve for accelerated response times.
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What Are the Emerging Geographies for The Automotive Shock Absorber Market Growth?
Asia-Pacific was the largest region in the automotive shock absorber market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive shock absorber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Shock Absorber Market?
2. What is the CAGR expected in the Automotive Shock Absorber Market?
3. What Are the Key Innovations Transforming the Automotive Shock Absorber Industry?
4. Which Region Is Leading the Automotive Shock Absorber Market?
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