Automotive Shock Absorber Market Perceives Enormous Accruals with a Striking CAGR of 5.12% by 2023; Asserts MRFR

Market Research Future published a research report on “Global Automotive Shock Absorber Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Global Automotive Shock Absorber Market Information Report by Type (Air Shock Absorber, Damper Shock Absorber, and Others), Vehicle Type (Passenger car and Commercial Vehicle), Sales Channel (OEM and Aftermarket), and region.

 

Market Highlights

The current trend in automotive industry is the move toward automation. Shock absorbers are the integral part of the suspension system. Shock absorbers, are mechanical device used to absorb the impulses created by shocks so as to provide comfortable ride to the passengers. They reduce jerks by absorbing shocks so as to improve the comfort in rides. They convert the kinetic energy into heat, which is then dissipated. They are not only used in automotive but also in aircraft in landing gears. In automotive industry, shock absorbers mainly comprise damper shock absorbers and air shock absorbers. They are, extensively, used in vehicles due to higher sustainability and better comfort. The market is expected to grow at a CAGR of 5.12% during the forecast period.

On the basis of region, the market has been segmented as North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to dominate the market during the forecast period due to increase in sales of vehicle in developing nations such as India, China, and Japan. The increase in sales of vehicle will result in growing demand for the automotive shock absorber in the vehicles. This increase in use will drive the growth of this region during the forecast period. North America is expected to be the second largest market to grow during the forecast period due to higher innovation in shock absorbers by the manufacturers. The higher innovation in the product will result in the higher demand for shock absorber in this region. Europe and Middle East & Africa is also expected to grow at a steady rate during the forecast period.

 

Market Scenario

Shock Absorber is an important component of vehicles. Their main purpose is to absorb energy so as to provide a comfort ride to the passenger. It is a mechanical device used to absorb shock impulses. It converts kinetic energy in another form of energy, typically in heat form. Shock absorbers are mainly used in suspension systems to reduce the jerks created due to rough terrain roads. The main purpose of a shock absorber is to improve the ride for the passenger. Shock absorbers are not only used in automotive but also are used in landing gear of an aircraft, industrial machinery, and others. In automotive application, shock absorbers used are mainly damper shock absorbers and air shock absorbers.

The factors that are responsible for the growth of automotive shock absorber market are growth in the automotive industry, increase in the production of vehicles in emerging countries such as China, India, and Japan, increased focus by manufacturers to improve comport for the passenger, and advancement in technology. The increase in the production of vehicle will result in higher use of shock absorbers to improve ride comfort. This increase in the usage of shock absorber, will result in the growth of the market during the forecast period. In current scenario, manufacturers are moving toward advancement in the technology so as to compete in the automotive market.  The advancement in technology will result in improvement in the overall suspension system. Manufacturers are also focusing on improving the ride comfort of the passenger in order to grow in this market. All the above factors are responsible for the growth of automotive shock absorber market during the forecast period. The market is expected to grow at a CAGR of 5.12% during the forecast period.

 

Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/4891  

 

Segments:

The automotive shock absorber market is segmented based on type, vehicle type, sales channel, and region. On the basis of type, the market is segmented as air shock absorber, damper shock absorber, and others. Air shock absorber segment is expected to dominate the market during the forecast period due to higher sustainability. Air shock absorber segment is driven by the electric or electric driven air pump, which gives smooth and improved ride quality or the passengers. On the basis of vehicle type, the market has been segmented as passenger cars and commercial vehicles. The passenger car segment is expected to dominate the market during the forecast period due to increase sales of passenger cars and SUVs. There is growing demand for the crossovers and SUV in passenger car segment because of their improved fuel efficiency.  

On the basis of region, the market has been segmented as North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to dominate the market during the forecast period due to increase in the production of vehicles in emerging countries such as China, India, and Japan. North America is expected to be the second largest market due to higher innovation in the shock absorbers. Europe is expected to be the third largest region during the forecast period.

 

Key Players

The key players in global automotive shock absorber market are Meritor, Inc. (U.S.), ZF Friedrichshafen AG (Germany), Delphi Automotive Plc. (U.K.), Gabriel India Ltd. (India), Hitachi, Ltd. (Japan), KYB Europe G.M.B.H (Germany), SHOWA Corporation (Japan), Tenneco Inc. (U.S.), Koni BV (Netherlands), Thyssenkrupp Bilstein Gmbh (Germany) and others.

 

Enquiry before Buying @ https://www.marketresearchfuture.com/enquiry/4891   

 

BRIEF TOC:

  1. EXECUTIVE SUMMARY
  2. RESEARCH METHODOLOGY
  3. MARKET DYNAMICS
  4. GLOBAL MARKET SEGMENTATION
  5. REGIONAL MARKET ANALYSIS
  6. COMPETITIVE ANALYSIS
  7. CONCLUSION
  8. LIST OF TABLES
  9. LIST OF FIGURES

 

The report for Global Automotive Shock Absorber Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

 

Access Full Report @ https://www.marketresearchfuture.com/reports/automotive-shock-absorber-market-4891

 

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Media Contact
Company Name: Market Research Future
Contact Person: Akash Anand
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune –
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/automotive-shock-absorber-market-4891