Automotive Shock Absorber Market: 2018 Global Industry Size, Share, Growth, Trends Forecast To 2023

Automotive Shock Absorber Market Analysis Report 2018 To 2023 include historic data, with forecast data on Global Automotive Shock Absorber Market by Type (Air Shock Absorber, Damper Shock Absorber, and Others), Vehicle Type (Passenger car and Commercial Vehicle), Sales Channel (OEM and Aftermarket), and region.

Automotive Shock Absorber Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023

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Key Automotive Alloy Wheels Companies Studied In this report are:

Meritor, Inc. (U.S.), ZF Friedrichshafen AG (Germany), Delphi Automotive Plc. (U.K.), Gabriel India Ltd. (India), Hitachi, Ltd. (Japan), KYB Europe G.M.B.H (Germany), SHOWA Corporation (Japan), Tenneco Inc. (U.S.), Koni BV (Netherlands), Thyssenkrupp Bilstein Gmbh (Germany) and others.

Automotive Shock Absorber Market Overview:

Shock Absorber is an important component of vehicles. Their main purpose is to absorb energy so as to provide a comfort ride to the passenger. It is a mechanical device used to absorb shock impulses. It converts kinetic energy in another form of energy, typically in heat form. Shock absorbers are mainly used in suspension systems to reduce the jerks created due to rough terrain roads. The main purpose of a shock absorber is to improve the ride for the passenger. Shock absorbers are not only used in automotive but also are used in landing gear of an aircraft, industrial machinery, and others. In automotive application, shock absorbers used are mainly damper shock absorbers and air shock absorbers.

The factors that are responsible for the growth of automotive shock absorber market are growth in the automotive industry, increase in the production of vehicles in emerging countries such as China, India, and Japan, increased focus by manufacturers to improve comport for the passenger, and advancement in technology. The increase in the production of vehicle will result in higher use of shock absorbers to improve ride comfort. This increase in the usage of shock absorber, will result in the growth of the market during the forecast period. In current scenario, manufacturers are moving toward advancement in the technology so as to compete in the automotive market. The advancement in technology will result in improvement in the overall suspension system. Manufacturers are also focusing on improving the ride comfort of the passenger in order to grow in this market. All the above factors are responsible for the growth of automotive shock absorber market during the forecast period. The market is expected to grow at a CAGR of 5.12% during the forecast period.

The automotive shock absorber market is segmented based on type, vehicle type, sales channel, and region. On the basis of type, the market is segmented as air shock absorber, damper shock absorber, and others. Air shock absorber segment is expected to dominate the market during the forecast period due to higher sustainability. Air shock absorber segment is driven by the electric or electric driven air pump, which gives smooth and improved ride quality or the passengers. On the basis of vehicle type, the market has been segmented as passenger cars and commercial vehicles. The passenger car segment is expected to dominate the market during the forecast period due to increase sales of passenger cars and SUVs. There is growing demand for the crossovers and SUV in passenger car segment because of their improved fuel efficiency.

On the basis of region, the market has been segmented as North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to dominate the market during the forecast period due to increase in the production of vehicles in emerging countries such as China, India, and Japan. North America is expected to be the second largest market due to higher innovation in the shock absorbers. Europe is expected to be the third largest region during the forecast period.

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