New York, April 18, 2023 (GLOBE NEWSWIRE) -- The Automotive Shock Absorber Market generated $14.20 Billion in revenue in 2022 and is expected to reach US$ 24.80 Billion globally by 2032, growing at a CAGR of 5.2% from 2023 to 2033. The global automotive shock absorber market has been experiencing remarkable advancements in recent years, driven by the demand for improved driving comfort, safety, and performance.
Shock absorbers are a crucial component of a vehicle's suspension system, responsible for dampening shocks and vibrations caused by uneven road surfaces, ensuring a smooth and comfortable ride for passengers. Technological innovations have revolutionized the automotive shock absorber market, introducing adaptive and electronic shock absorbers, magnetorheological (MR) and electro-hydraulic technologies, and eco-friendly solutions, transforming the landscape of the industry.
Click Here to Get Free Sample Copy of this Report https://www.persistencemarketresearch.com/samples/15058
Market Dynamics
The automotive shock absorber market is witnessing significant growth due to several factors. First, the increasing consumer demand for enhanced driving comfort and safety features in vehicles is driving the adoption of advanced shock absorber technologies. Consumers are seeking smooth and comfortable rides, especially in premium and luxury vehicles, leading to the development of adaptive and electronic shock absorbers that offer real-time adjustments to varying road conditions and driving styles.
Second, stringent regulations on emissions and fuel efficiency are influencing the market. Shock absorbers that are energy-efficient, made from recycled materials, and have minimal carbon footprints are gaining traction due to the growing awareness of environmental concerns. Eco-friendly shock absorbers are becoming a key focus for automotive manufacturers and suppliers, aligning with the demand for sustainable mobility solutions.
Third, the continuous investment in research and development by leading automotive manufacturers and suppliers is driving technological advancements in the market. Magnetorheological (MR) and electro-hydraulic technologies, which allow for precise and instantaneous adjustments to damping forces, are gaining prominence in the market, improving vehicle stability and performance. Furthermore, advancements in sensor technology and algorithms are enabling adaptive and electronic shock absorbers to provide superior comfort and safety by adapting to changing road conditions and driving styles.
Get Full Access of this Report https://www.persistencemarketresearch.com/checkout/15058
Technological Advancements
The automotive shock absorber market is witnessing significant technological advancements aimed at improving the performance, durability, and safety of shock absorbers. Manufacturers are focusing on developing advanced shock absorber technologies, such as electronic shock absorbers, adaptive shock absorbers, and air suspension systems, to enhance the ride comfort, handling, and stability of vehicles. These technologies offer features such as adjustable damping rates, real-time monitoring, and self-adjustment based on driving conditions, which contribute to improved vehicle performance and safety.
Market Segmentation
By technology: The market can be categorized into adaptive shock absorbers, electronic shock absorbers, conventional shock absorbers, magnetorheological (MR) shock absorbers, and electro-hydraulic shock absorbers.
By vehicle type: The market can be segmented into passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs).
By sales channel: The market can be divided into original equipment manufacturers (OEMs) and aftermarket.
Regional Analysis
The regional analysis of the automotive shock absorber market reveals variations in terms of demand, growth rate, and trends across different regions. North America and Europe are mature markets with a high demand for advanced shock absorber technologies driven by factors such as ride comfort, safety, and performance. Asia-Pacific is a rapidly growing market, fueled by increasing vehicle production, rising disposable income, and growing urbanization. Latin America and the Middle East & Africa are also emerging markets with increasing demand for passenger vehicles and commercial vehicles, driven by economic growth and rising consumer aspirations.
You Can Customize this Report As per Your Requirement Click Here https://www.persistencemarketresearch.com/request-customization/15058
Competitive Landscape
In the fiercely competitive worldwide automotive shock absorber market, several large businesses are fighting for market domination. Several of the top companies in the industry include KYB Corporation., ZF Friedrichshafen AG, Tenneco Inc., Hitachi Group, ThyssenKrupp AG, SHOWA Corporation, Samvardhana Motherson Automotive Group, BMW Group, ITT Corporation, Gabriel India Limited, Meritor, Inc., Endurance Complete Solutions, BWI Group, Magneti Marelli S.p.A., Duro Shox Pvt Ltd., Arnott Inc., ACDelco, Inc., Zhejiang Sensen Auto Parts Co., Ltd.
Recent News
- In January 2023, KYB Corporation, a leading global manufacturer of automotive shock absorbers, announced its acquisition of the shock absorber business from Hitachi Astemo Co., Ltd. This acquisition is expected to strengthen KYB's position in the global automotive shock absorber market and expand its product portfolio.
- In September 2022, ZF, a leading global technology company specializing in driveline and chassis technology, introduced its new Dual Valve Technology for shock absorbers. This innovative technology provides improved damping performance and increased comfort for passengers, making it an attractive solution for the automotive industry.
- In July 2022, Tenneco, a leading global manufacturer of ride performance products, announced its collaboration with its flagship brand Monroe to launch an intelligent suspension system called Monroe Intelligent Suspension. This system utilizes advanced sensors and control algorithms to adapt to changing road conditions in real-time, providing enhanced comfort and handling for vehicles.
Other Trending Reports:
- Automotive Radiator Market
- Automotive Seats Market
- Automotive Engine Oil Market
- Automotive Telematics Market
- North America Recreational Vehicles Market
- Auto Parts Manufacturing Market
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges. Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
