Automotive Shock Absorber Market Share, Trend & Growth Forecast to 2032

Automotive Shock Absorber Market is projected to cross USD 22.5 Bn by 2032. A commendable rise in global vehicle production and sales contributes to the growing demand for shock absorbers as a critical component of the automotive suspension system. According to the International Organization of Motor Vehicle Manufacturers (OICA), the United States produced an estimated 14,801,664 vehicles, comprising 10,323,453 cars and 4,478,211 commercial vehicles between 2017 and 2022.

The rising emphasis on vehicle comfort and safety enhances the importance of high-performance shock absorbers that provide smooth rides and stability. Moreover, the growing preference for luxury and high-performance vehicles drives the demand for advanced shock absorber technologies. Furthermore, stringent regulations and standards related to vehicle safety and emissions encourage the adoption of innovative shock absorbers that improve fuel efficiency and reduce carbon emissions, which will drive industry growth.

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In terms of design, the market size from the mono-tube segment is anticipated to record a sizeable valuation by 2032. Mono-tube shock absorbers offer superior performance in terms of damping control, providing enhanced handling and stability. Their design allows for efficient heat dissipation, ensuring consistent performance under demanding conditions. Moreover, the increasing preference for sportier and performance-oriented vehicles drives the demand for mono-tube shock absorbers that can deliver improved responsiveness and ride quality.

Regarding the type, the automotive shock absorber market share from the hydraulic segment could witness commendable growth through 2032. Hydraulic shock absorbers provide effective damping control, offering a comfortable and smooth ride experience. Additionally, they are cost-effective compared to other advanced shock absorber technologies. Moreover, their robust design and durability make them suitable for a wide range of vehicles, contributing to their increasing demand in the automotive market.

With respect to vehicle, the industry value from the passenger vehicle segment will grow significantly over 2023-2032. Passenger vehicle owners prioritize comfort and safety, making high-quality shock absorbers essential for a smooth and stable ride. Additionally, the increasing production and sales of passenger vehicles worldwide contribute to the rising demand for shock absorbers. Moreover, advancements in shock absorber technology, such as improved damping control and adjustable features, further drive their popularity among car owners seeking enhanced driving experiences.

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Regionally, North America automotive shock absorber industry will capture a notable market share by 2032. The region has a large population of passenger vehicles, leading to a consistent demand for replacement parts, including shock absorbers. Additionally, the increasing preference for comfortable and smooth rides drives the demand for high-quality shock absorbers. Moreover, growing awareness about vehicle safety and the need for improved suspension systems contribute to the rising demand for automotive shock absorbers in North America.

Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Automotive Shock Absorber Market industry 3600 synopsis, 2018 – 2032

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Type trends

2.1.4    Design trends

2.1.5    Vehicle type trends

2.1.6    Sales channel trends

Chapter 3   Automotive Fabric Industry Insights

3.1    Industry segmentation

3.2    Industry size and forecast, 2018 – 2032

3.2.1    COVID-19 impact on industry landscape

3.3    Industry ecosystem analysis

3.3.1    Vendor matrix

3.3.2    Distribution channel analysis

3.3.2.1   Contract Manufacturing

3.3.2.2   Distributors

3.3.3    Profit margin analysis

3.4    Regulatory Landscape

3.5    Pricing analysis

3.6    Industry impact forces

3.6.1    Growth drivers

3.6.1.1   Growing adoption of electric vehicles in emerging countries led by government support Increasing demand for safety and comfort

3.6.1.2   Advancement in suspension technology for heavy-duty vehicles

3.6.1.3   Increase in demand for safety and comfort

3.6.2    Industry pitfalls & challenges

3.6.2.1   Fluctuation in raw material cost

3.7    Growth potential analysis, 2022

3.8    Porter’s analysis

3.9    PESTEL analysis

3.10    COVID-19 impact on Automotive Fabric demand by vehicle type

 

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