Transparency Market Research in its new report titled, “Shock Absorber for Automotive Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the shock absorber for automotive market. The TMR report anticipates that the increase in daily commute owing to expanding cities, globally, and the increased demand for a comfortable ride even on rough surfaces or terrain will drive the shock absorber for automotive market during the forecast period i.e, 2018-2026. Development and improvement in ride handling and comfort are likely to boost the shock absorber for automotive market during the forecast period. Rise in competition among auto manufacturers to produce improved ride comfort devices in conjunction with lightweight components is expected to boost the shock absorber for automotive market during the forecast period, says the report.
The TMR report has segregated the shock absorber market for automotive based on type, vehicle type, components, sales channel, and region. On the basis of type, the shock absorber market for automotive is divided into pneumatic shock absorber, damper shock absorber, and others. Pneumatic shock absorbers are mostly utilized in various applications, and the segment accounts for a major share of the market as compared to the other segments. The dissipation of energy in these shock absorbers occurs by pumping air through small orifices, thereby providing smooth and improved ride quality to the passengers. Pneumatic shock absorbers are offered at a lower price, as compared to the other shock absorber types. In terms of vehicle type, the automotive shock absorber market is split into passenger vehicles and commercial vehicles. Demand for shock absorbers in passenger vehicles is high and witnessing a rise owing to safety concerns. The passenger vehicle segment holds a prominent share of the market, and it is expected to maintain its dominant position in the market. Higher sales of passenger vehicles is major factor boosting the passenger vehicle segment of the shock absorber for automotive market.
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In accordance with sales channel, the shock absorber for automotive market is divided into original equipment manufacturers (OEMs) and aftermarket. The OEMs segment dominates the shock absorber market owing to the increase in production of vehicles incorporated with shock absorbers. Rising awareness about safety and comfort is providing lucrative opportunities to the shock absorber market. This is due to the higher rate of adoption of shock absorbers and the expansion of the automotive industry. From a regional perspective, the shock absorber for vehicle market is split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among the regions, Asia Pacific holds a major share of the global automotive shock absorber market. This is due to higher adoption rate of comfort-based components and the easy availability of raw material for components. Rise in production of vehicles with shock absorbers in the region, especially in China, India, Japan, and South Korea, is expected to propel the shock absorber for automotive market in the region.
Leading players operating in the global shock absorber for automotive market are profiled in this report to give a better competitive landscape and these include ZF Friedrichshafen AG, Tenneco Inc., Robert Bosch GmbH, KYB Americas Corporation, Meritor, Inc., Magneti Marelli S.p.A., Bilstein, Gabriel India Ltd., Hitachi, Ltd., Mando Corp., Showa Corporation, Federal-Mogul Motorparts, Delphi, and Duroshox.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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