The global truck shock absorber market is anticipated to grow at a CAGR of 7.5% during the forecast period (2022-2028). Shock absorbers are an integral part of a vehicle’s suspension. A shock absorber is designed to absorb or dampen the compression and rebound of the springs and suspension. They control the unwanted and excess spring motion with standard suspension systems. Shock absorbers generally supports in keeping the tires in contact with the road at all the times. The market growth is majorly attributable to the rising concerns for the driver’s safety coupled with the introduction of various features in the automobiles that enhances the driver comfort. Further, the growing number of road accidents also demand the use of truck shock absorber. According to the National Safety Council of US, 1,038 workers died and 25,830 were injured in the work-related road accidents. Only heavy trucks are not involved in these work-related crashes, however, light fleet vehicles, such as pick-up trucks, passenger vehicles, SUVs, and vans are also responsible.
Thus, to minimize such risks, the global truck shock absorber market is anticipated to grow substantially in the future years. Additionally, key drivers such as improved economic conditions coupled with the population growth, the increasing demand for passive safety systems, developments in truck shock absorber technology, among others have also led to an increase in truck shock absorber adoption all over the globe. This is also likely to support the global truck shock absorber market growth.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product Type
- By Application
- Regions covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape: Aptiv plc, Showa Corp., and KYB Americas Corp., among others.
A full report Truck Shock Absorber Market of is available at: https://orionmarketreports.com/truck-shock-absorber-market/102749/
Global Truck Shock Absorber Market Report by Segment
By Product Type
- Hydraulic Pressure
- Pneumatic
By Application
- Pre-Installed
- Aftermarket
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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