Press release
Shock Absorbers Market Set to Record Exponential Growth by 2025
Drivers:
Key growth drivers for this market are growth in automotive demand, and vehicle parc and production. The increasing focus of manufacturers to improve travel comfort and increase the average miles travelled per year is estimated to fuel growth of the global shock absorbers market.
Moreover, growth in shock absorber applications, such as in aircraft, for industrial purposes, and in buildings & bridges is estimated to drive growth of the global shock absorbers market.
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Restraints:
In general, extended product life and low rate of replacement are estimated to hamper the aftermarket growth of automotive shock absorbers. Consumers replace shock absorbers only when they show signs of deterioration. Additionally, the quality of shock absorbers has increased to a great extent during the past few years, which has adversely impacted the replacement market.
Global Shock Absorbers Market: Segmentation
The global shock absorbers market is primarily segmented on the basis of the below factors:
The global shock absorbers market, segmented on the basis of vehicle type: passenger car, light commercial vehicle (LCV),heavy commercial vehicle (HCV), motorcycle, and others (aircraft). The global shock absorbers market, segmented on the basis of sales channel: original equipment manufacturer (OEM) and aftermarket.
The global shock absorbers market, segmented on the basis of type: air shock absorber, damper shock absorber, and others. The global shock absorbers market segmented on the basis of design: twin tube and mono-tube shock absorbers. Twin tube shock absorbers can be further categorized as gas charged, position sensitive damping (PSD), and acceleration sensitive damping (ASD)
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Global Shock Absorbers Market: Regional Outlook
The Asia-Pacific shock absorbers market is estimated to remain dominant over the forecast period, owing to its major share in automotive production and vehicle parc. Countries, such as China and India are estimated to be growth drivers in the Asia-Pacific shock absorbers market.
Europe and North America regions are estimated to grow at a stable rate in the shock absorbers market, due to high product maturity. The Japan shock absorbers market is forecasted to grow at a significant rate, owing to high technological advancements in the automotive industry. Latin America and Middle-East & Africa markets are estimated to witness high growth potential over the forecast period.
Global Shock Absorbers Market: Market Participants
Examples of some of the market participants in the global shock absorbers market are: Meritor, Inc., ZF Friedrichshafen AG, DELPHI AUTOMOTIVE PLC, Gabriel India Ltd., Hitachi, Ltd., KYB Europe G.M.B.H, SHOWA Corporation, Tenneco Inc., Koni BV, BILSTEIN.
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