The global shock absorber market is anticipated to grow at a considerable CAGR of 12.2% during the forecast period. One of the major factors that are growing the market includes technological advancement in the shock-absorbing industry which is supporting in the improvement of a vehicle’s performance, and consumers’ experience. Over the past few years, the demand for advanced suspension systems has baeen growing in heavy-duty commercial vehicles across the globe as the applications of these vehicles growing.
These vehicles often work off-road for carrying, dumping, digging, and other heavy load works which require multiple highly efficient shock absorbers with advancements such as air dampers, continuous damping control, body roll control monitors, and air spring ride height sensors, and automatically deploying auxiliary suspensions. These advancements help in extending maintenance intervals, and vehicle lifecycles, improve tire wear, increase safety and handling, and help with driver recruiting and retention. These developments have enhanced the performance of the vehicle, which reflects in the growth of the commercial vehicle market as well. As per the data of Organisation Internationale des Constructeurs d’Automobiles (OICA), the commercial vehicle production reached 23,091,693 units in 2021 which is around 6% more than the production of commercial vehicles in 2020.
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Market Coverage
- The market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2023-2029
Segment Covered-
- By Type
- By Vehicle Type
- By Sales Channel
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– including Hitachi, Ltd., KYB Americas Corp., Mando Corp., Tenneco Inc., ThyssenKrupp AG, and others.
Shock Absorber Market Report Segment
By Type
- Twin Tube
- Mono-Tube
By Vehicle Type
- Passenger Vehicles
- Commercial vehicles
By Sales Channel
- Original Equipment Manufacturer (OEM)
- Aftermarket
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Shock Absorber Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- ACDelco
- Arnott LLC
- BMW AG
- BWI Group
- ContiTech AG
- Datsons Engineering Works Pvt. Ltd.
- DMA Sales
- Duroshox Pvt Ltd.
- Endurance Technologies Ltd.
- Gabriel India Ltd. (Anand Group)
- ITT Inc.
- Kobe Suspensions
- Magneti Marelli After Market Parts and Services S.p.A.
- Marelli Holdings Co., Ltd
- Meritor Inc.
- QBAutomotive S
- amvardhana Motherson Auto System (SMAS) Pvt. Ltd.
- ZF Friedrichshafen AG
- ZHEJIANG SENSEN AUTO PARTS CO., LTD.
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