According to Stratistics MRC, the Global Automotive Shock Absorber Market is accounted for $8.60 billion in 2019 and is expected to reach $15.00 billion by 2027 growing at a CAGR of 7.2% during the forecast period. Some of the key factors propelling the market growth include increase in automobile sales, need for safety and comfort in vehicles, increasing investment and increasing R&D activities and growing automotive aftermarket. However, oil leakage and noise are restraining the market growth.
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On the basis of geography, Asia Pacific region is expected to have considerable market growth during the forecast period, due to rising automotive production and increase in disposable income, especially in regional economies such as China, India, and Japan giving a new way for growth of the market. Moreover, rapid expansion in industrialization and technological advancements in the automotive production sector are anticipated to fuel the market in countries in the region.
Some of the key players in Automotive Shock Absorber Market include Samvardhana Motherson Group (SMG), Magneti Marelli S.p.A., ITT Corporation, Thyssenkrupp AG, ZF Friedrichshafen AG, Hitachi Automotive Systems, Ltd., Mando Corp, Delphi, Robert Bosch GmbH, Continental AG, Gabriel India Limited, Duro Shox Pvt Ltd., Arnott Inc., ACDelco, Inc., Zhejiang Sensen Auto Parts Co., Ltd., SHOWA CORPORATION, KYB Corporation, Tenneco Inc., and Meritor, Inc.
Vehicle Types Covered:
• Heavy Commercial Vehicles (HCV)
• Light Commercial Vehicles (LCV)
• Medium Commercial Vehicles
• Passenger Car
• Two Wheelers
Types Covered:
• Damper Shock Absorber
• Air Shock Absorber
Sales Channels Covered:
• Original Equipment Manufacturer (OEM)
• Aftermarket
Products Covered:
• Gas-filled Type Automotive Shock Absorbers
• Hydraulic Type Automotive Shock Absorbers
Applications Covered:
• Auto Production
• Machine Tools
• Industrial Automation
Designs Covered:
• Mono Tube Design
• Twin Tube Designs
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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