Global Automotive Shock Absorber Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By OEM;

Commercial Vehicle, Passenger Vehicle, Minicompact, Supermini, Compact, Mid-size, Executive, Luxury, MPV (Multi-purpose Vehicle), SUV and Sports Car.

By Aftermarket;

Commercial Vehicle, Passenger Vehicle, Minicompact, Supermini, Compact, Mid-size, Executive, Luxury, MPV (Multi-purpose Vehicle), SUV and Sports Car.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn034277673 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Automotive Shock Absorber Market (USD Million), 2020 - 2030

In the year 2023, the Global Automotive Shock Absorber Market was valued at USD 11,336.29 million. The size of this market is expected to increase to USD 18,443.12 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 7.2%.

The global automotive shock absorber market is a critical segment of the automotive industry, integral to the vehicle's suspension system. Shock absorbers play a crucial role in enhancing the comfort and safety of a vehicle by dampening the impact of road irregularities and maintaining tire contact with the road surface. This market has seen consistent growth over the years, driven by increasing vehicle production, advancements in suspension technologies, and the rising demand for a smoother and more controlled driving experience.

Recent advancements in shock absorber technology have significantly influenced market dynamics. Innovations such as adaptive and semi-active shock absorbers, which automatically adjust damping characteristics based on road conditions and driving styles, are gaining popularity. These advanced systems contribute to improved vehicle stability, reduced vibration, and enhanced overall driving comfort. Furthermore, the growing trend of electric vehicles (EVs) and autonomous vehicles is expected to create new opportunities for the shock absorber market, as these vehicles require specialized suspension systems to optimize performance and passenger comfort.

Geographically, the automotive shock absorber market is diverse, with significant contributions from North America, Europe, Asia-Pacific, and other regions. Asia-Pacific, particularly China and India, dominates the market due to the high production and sales of vehicles in these countries. North America and Europe also hold substantial market shares, driven by technological advancements and a strong focus on automotive research and development. The demand in these regions is further fueled by the presence of major automotive manufacturers and a well-established aftermarket for automotive components.

In addition to technological advancements, various macroeconomic factors influence the global automotive shock absorber market. Factors such as economic growth, urbanization, and increasing disposable income levels in emerging economies contribute to the rising demand for vehicles, thereby boosting the market for shock absorbers. Moreover, stringent government regulations related to vehicle safety and emissions are compelling manufacturers to invest in high-performance shock absorbers that meet regulatory standards. This regulatory push, coupled with consumer demand for better driving experiences, continues to drive innovation and growth in the global automotive shock absorber market.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By OEM
    2. Market Snapshot, By Aftermarket
    3. Market Snapshot, By Region
  4. Global Automotive Shock Absorber Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing Vehicle Production Worldwide
        2. Rising Demand for Comfortable Rides
        3. Advancements in Suspension Technology
        4. Growing Aftermarket Demand
      2. Restraints
        1. High Manufacturing Costs
        2. Volatility in Raw Material Prices
        3. Stringent Environmental Regulations
        4. Intense Market Competition
      3. Opportunities
        1. Electrification of Vehicles
        2. Expansion in Emerging Markets
        3. Integration with Smart Technologies
        4. Development of Advanced Materials
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Automotive Shock Absorber Market, By OEM, 2020 - 2030 (USD Million)
      1. Commercial Vehicle
      2. Passenger Vehicle
      3. Minicompact
      4. Supermini
      5. Compact
      6. Mid-size
      7. Executive
      8. Luxury
      9. MPV (Multi-purpose Vehicle)
      10. SUV
      11. Sports Car
    2. Global Automotive Shock Absorber Market, By Aftermarket, 2020 - 2030 (USD Million)
      1. Commercial Vehicle
      2. Passenger Vehicle
      3. Minicompact
      4. Supermini
      5. Compact
      6. Mid-size
      7. Executive
      8. Luxury
      9. MPV (Multi-purpose Vehicle)
      10. SUV
      11. Sports Car
    3. Global Automotive Shock Absorber Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. ZF Friedrichshafen AG
      2. Tenneco Inc
      3. KYB Corporation
      4. Gabriel India Limited
      5. Showa Corporation
      6. Mando Corporation
      7. Hitachi Automotive Systems
      8. Bilstein
      9. Sachs
      10. Arnott Industries
  7. Analyst Views
  8. Future Outlook of the Market