Shock Absorber Market
Global Shock Absorber Market Size, Share & Trends Analysis Report by Type (Twin Tube and Mono Tube), by Vehicle Type (Passenger Vehicles and Commercial Vehicles), and by Sales Channel (Original Equipment Manufacturer and Aftermarket) Forecast (2022-2028) Update Available - Forecast 2024-2030
The global shock absorber market is anticipated to grow at a significant CAGR of 12.2% during the forecast period. One of the major factors fuelling the market includes the growing competitiveness in the automobile industry. The market players are offering various new features for making the drive smooth and comfortable for the consumers to stay in the market, which has increased the demand for shock absorbers. For instance, in September 2019, KONI Shock Absorbers announced its KONI Sport adjustable shock absorbers for (2016-2019) Mazda MX-5 and chassis offering ride height settings and multiple spring seats, which offers better comfort and stability while driving.
Impact of COVID-19 Pandemic on Global Shock Absorber Market
The COVID-19 pandemic had impacted most of the industries in the market. The spread of the virus led most governments across the globe to impose a lockdown that strictly restricted the use of vehicles. All this led to a decrease in the demand, and production activities in the shock absorber market. As per the data of Organization Internationale des Constructeurs d'Automobiles (OICA) 2020, the production of vehicles declined by 16% across the globe as compared to the production in 2019. Sales of the vehicles also declined by more than 13% in 2020. However, as the situation got normal the market grew considerably. As per the data of OICA 2021, the production of vehicles grew by 3% as compared to 2020.
Segmental Outlook
The global shock absorber market is segmented based on the type, vehicle type, and sales channel. Based on the type, the market is segmented into twin-tube, and monotube. Based on the vehicle type, the market is sub-segmented into passenger vehicles and commercial vehicles. Based on the sales channel, the market is sub-segmented into the original equipment manufacturer (OEM) and aftermarket. Based on type, the monotube shock absorber is anticipated to grow fastest during the forecast period owing to higher damping ability which offers a better riding experience.
Global Shock Absorber Market Share by Vehicle Type, 2021 (%)
The Passenger Vehicles Segment is Expected to Hold the Prominent Share in the Global Shock Absorber Market
The passenger vehicle segment is expected to hold the significant share in the global shock absorber market and is anticipated to grow significantly during the forecast period. Passenger vehicles have been dominating the market since the beginning of the vehicle industry. These vehicles are used by general people for various reasons while commercial vehicles are used by few for specific works. Its dominance has been also reflected in the shock absorber market, as the demand for a shock absorber is growing with the passenger vehicles demand. As per the data of OICA, the production of the passenger vehicle was 57,054,295 in 2021, while the commercial vehicle produced 23,091,693 which is 59% lesser than the production of passenger vehicles.
Regional Outlooks
The global shock absorber market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). Asia-Pacific region is expected to hold the prominent share in the market followed by Europe, and then North America.
Global Shock Absorber Market Growth, by Region 2022-2028
The Asia-Pacific Region Anticipated to Hold the Prominent Share in the Global Shock Absorber Market
Among the regions, the Asia-Pacific region is expected to hold the major share in the shock absorber market globally owing to the presence of emerging countries such as China, India, Japan, South Korea, and others. The region is the most populous and has major vehicle market players such as Toyota, Honda, Nio, Tata, and others. With the improving financial state of people, the vehicle market and competitiveness between market players are also growing. This has increased the demand for the shock absorber to increase the smooth driving experience including other features for surviving in the competition. As per the data of OICA, 46,732,785 vehicles were produced in the Asia-Pacific region in 2021 which is 58.3% of the total vehicles were produced across the globe in 2021.
Market Players Outlook
The major companies serving the global shock absorber market include Hitachi, Ltd., KYB Americas Corp., Mando Corp., Tenneco Inc., ThyssenKrupp AG, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in November 2019, ZF Friedrichshafen AG established frequency-selective technology SDC3 (Selective Damping Control), which offers better handling and better comfort with sporty dynamics.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global shock absorber market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Shock Absorber Market
• Recovery Scenario of Global Shock Absorber Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Hitachi, Ltd.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. KYB Americas Corp.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Mando Corp.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Tenneco Inc.
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. ThyssenKrupp AG
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Segmentation
4.1. Global Shock Absorber Market by Type
4.1.1. Twin Tube
4.1.2. Mono Tube
4.2. Global Shock Absorber Market by Vehicle Type
4.2.1. Passenger Vehicles
4.2.2. Commercial Vehicles
4.3. Global Shock Absorber Market by Sales Channel
4.3.1. Original Equipment Manufacturer (OEM)
4.3.2. Aftermarket
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. ACDelco
6.2. Arnott LLC
6.3. BMW AG
6.4. BWI Group
6.5. ContiTech AG
6.6. Datsons Engineering Works Pvt. Ltd.
6.7. DMA Sales
6.8. Duroshox Pvt Ltd.
6.9. Endurance Technologies Ltd.
6.10. Gabriel India Ltd. (Anand Group)
6.11. ITT Inc.
6.12. Kobe Suspensions
6.13. Magneti Marelli After Market Parts and Services S.p.A.
6.14. Marelli Holdings Co., Ltd
6.15. Meritor Inc.
6.16. QBAutomotive S
6.17. amvardhana Motherson Auto System (SMAS) Pvt. Ltd.
6.18. ZF Friedrichshafen AG
6.19. ZHEJIANG SENSEN AUTO PARTS CO., LTD.
1. GLOBAL SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
2. GLOBAL TWIN TUBE SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL MONO TUBE SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
5. GLOBAL PASSENGER VEHICLES SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL COMMERCIAL VEHICLES SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2021-2028 ($ MILLION)
8. GLOBAL OEM SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL ORIGINAL EQUIPMENT MANUFACTURER SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
11. NORTH AMERICAN SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
12. NORTH AMERICAN SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
13. NORTH AMERICAN SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
14. NORTH AMERICAN SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2021-2028 ($ MILLION)
15. EUROPEAN SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
16. EUROPEAN SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
17. EUROPEAN SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
18. EUROPEAN SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2021-2028 ($ MILLION)
19. ASIA-PACIFIC SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
20. ASIA-PACIFIC SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2021-2028 ($ MILLION)
23. REST OF THE WORLD SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
24. REST OF THE WORLD SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
25. REST OF THE WORLD SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
26. REST OF THE WORLD SHOCK ABSORBER MARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL SHOCK ABSORBER MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL SHOCK ABSORBER MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL SHOCK ABSORBER MARKET, 2022-2028 (%)
4. GLOBAL SHOCK ABSORBER MARKET SHARE BY TYPE, 2021 VS 2028 (%)
5. GLOBAL TWIN TUBE SHOCK ABSORBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL MONO TUBE SHOCK ABSORBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL SHOCK ABSORBER MARKET SHARE BY VEHICLE TYPE, 2021 VS 2028 (%)
8. GLOBAL PASSENGER VEHICLES SHOCK ABSORBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL COMMERCIAL VEHICLES SHOCK ABSORBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL SHOCK ABSORBER MARKET SHARE BY SALES CHANNEL, 2021 VS 2028 (%)
11. GLOBAL OEM SHOCK ABSORBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL AFTERMARKET SHOCK ABSORBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL SHOCK ABSORBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. US SHOCK ABSORBER MARKET SIZE, 2021-2028 ($ MILLION)
15. CANADA SHOCK ABSORBER MARKET SIZE, 2021-2028 ($ MILLION)
16. UK SHOCK ABSORBER MARKET SIZE, 2021-2028 ($ MILLION)
17. FRANCE SHOCK ABSORBER MARKET SIZE, 2021-2028 ($ MILLION)
18. GERMANY SHOCK ABSORBER MARKET SIZE, 2021-2028 ($ MILLION)
19. ITALY SHOCK ABSORBER MARKET SIZE, 2021-2028 ($ MILLION)
20. SPAIN SHOCK ABSORBER MARKET SIZE, 2021-2028 ($ MILLION)
21. REST OF EUROPE SHOCK ABSORBER MARKET SIZE, 2021-2028 ($ MILLION)
22. INDIA SHOCK ABSORBER MARKET SIZE, 2021-2028 ($ MILLION)
23. CHINA SHOCK ABSORBER MARKET SIZE, 2021-2028 ($ MILLION)
24. JAPAN SHOCK ABSORBER MARKET SIZE, 2021-2028 ($ MILLION)
25. SOUTH KOREA SHOCK ABSORBER MARKET SIZE, 2021-2028 ($ MILLION)
26. REST OF ASIA-PACIFIC SHOCK ABSORBER MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF THE WORLD SHOCK ABSORBER MARKET SIZE, 2021-2028 ($ MILLION)
