Authored By: Sarah
09 Dec 2024

Latest News - Automotive Aftermarket Shock Absorbers Market 2024-2028: APAC Leads Market Growth and Key Industry Trends

Automotive Aftermarket Shock Absorbers Market to grow at a CAGR of 4.15% during 2024-2028

The Automotive Aftermarket Shock Absorbers Market is expected to grow at a CAGR of 4.15% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1.12 billion. The global Automotive Aftermarket Shock Absorbers Market is experiencing significant disruption from emerging trends such as shared mobility and electric mobility. Additive manufacturing, or 3D printing, is the leading trend in the market, particularly in the automotive industry, where it addresses high manufacturing costs for complex, low-volume products. Manufacturers are increasingly using this technology to create advanced automotive components with intricate designs and improved material compositions, such as lightweight shock absorbers. The benefits of additive manufacturing are expected to drive its rapid adoption among auto component manufacturers, boosting the market in the coming years.

Get more information on Automotive Aftermarket Shock Absorbers Market by requesting a sample report

The Twin tube subsegment is expected to dominate the Type segment during the forecast period 

Technavio analysts predict that the Twin tube subsegment will lead the Type segment during 2024 and 2028. In the automotive aftermarket, twin-tube shock absorbers represent a popular choice for vehicle owners seeking enhanced performance and customization. These shock absorbers feature a design consisting of two tubes: an inner tube housing the piston and an outer tube functioning as an oil reservoir. This configuration enables effective heat dissipation, contributing to improved overall performance. The global aftermarket for shock absorbers is experiencing robust expansion, fueled by the surging demand for high-performance and customizable products. Key companies in this sector, such as Gabriel India and KYB, continue to innovate and deliver top-tier twin-tube shock absorbers, underscoring the significance of quality and technological advancements in the market.

Here are the various ways based on which the market is segmented: 

  • Type
    • Twin tube
    • Mono tube
  • Vehicle Type
    • Passenger vehicles
    • Commercial vehicles
  • Geography
    • APAC
      • Australia
      • China
      • Japan
      • India
      • South Korea
      • Rest of APAC
    • Europe
      • France
      • Germany
      • UK
      • Italy
      • Spain
      • Rest of Europe
    • North America
      • US
      • Canada
    • South America
    • Middle East and Africa

Key Companies and Market Insights
Some of the key companies in the Automotive Aftermarket Shock Absorbers Market Market include:

  • Meritor Inc.
  • ZF Friedrichshafen
  • Gabriel India Ltd.
  • Hitachi Automotive Systems
  • Showa Corp.
  • Tenneco Inc.
  • Thyssenkrupp AG
  • KYB Corp.
  • Mando Corp.
  • AL-KO Vehicle Technology Group
  • ANAND Group
  • Dorman Products Inc.
  • Zhejiang Sensen Auto Parts Co. Ltd
  • Duro Shox Pvt. Ltd.
  • DRiV Inc.
  • ITT Corp.
  • Magnetti Marelli S. P. A. 
  • Festo SE and Co. KG
  • Hangzhou Smart Mfg Group Co. Ltd.
  • Hitachi Ltd.

Reasons to Purchase the Global Automotive Aftermarket Shock Absorbers Market Research Report by Technavio. What is in it for you?

  • Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
  • Insight into Current Market Trends: Our research reports provide our readers insights into the latest market intelligence, competitor strategies, market trends, changes taking place in the industry and customer preferences, forecasted market opportunities that influence them to make better business decisions
  • High ROI with Extensive Hands-on Research: Technavio is renowned for offering personalized market research reports as per unique business needs, delving deep into specific markets, product segments and demographics. Additionally, it is also well-known for providing high return on investments through its wide collection of data at pocket-friendly rates

There are several factors that are causing the market to flourish aging vehicle fleet with high number of in-use vehicle

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Automotive Aftermarket Shock Absorbers Market encompasses the production, sales, and distribution of shock absorbers for passenger cars, motorcycles, light trucks, and other vehicles. Shock absorbers are a crucial component of a vehicle's suspension system, responsible for controlling the roll, bounce, and hydraulic system of the vehicle as it navigates the road. Made primarily of materials science and engineering, including metals, polymers, and hydraulic fluid, shock absorbers work in conjunction with springs, pistons, valves, and other components to absorb the energy generated from the vehicle's movement, ensuring optimal vehicle performance and handling. Automakers continue to invest in research and development to improve shock absorber technology, focusing on areas such as aerodynamics, seating comfort, and tire-road contact for enhanced vehicle ride and handling.

Market Research Overview

The global automotive aftermarket shock absorbers market is a segment of the broader automotive parts and equipment market, which encompasses businesses producing components and accessories for various automobile types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. Technavio's market analysis calculates the size of the global automotive components and equipment market by aggregating the revenues generated by manufacturers in this sector. Key growth drivers for this market include the increasing demand for electronic components in automobiles, such as electronic control units (ECUs), fueled by the rising sales of EVs, motorcycles, and PCs over the past decade.

The Automotive Aftermarket Shock Absorbers Market is experiencing significant growth, fueled by the aging vehicle fleet with high number of in-use vehicle. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Email: media@technavio.com
Website: www.technavio.com/

 

Read News Read Less
Interested in this report?
Get your sample now!

Safe and Secure SSL Encrypted

Technavio

  • 2500 USD

[5 reports/month/user]

  • 5000 USD

close
  • Basic Plan [5000 USD/Year]:

    Single User
    Download 5 Reports/Month
    View 100 Reports/Month
    Add upto 3 Users at 625 USD/user

  • Teams Plan [7500 USD/Year]:

    5 User
    Download 5 Reports/Month/User
    View 100 Reports/Month/User
    Add upto 30 Users at 500 USD/user

*You can upgrade to Teams plan at Subscription page

close
  • Single:

    One user only.
    Quick & easy download option

  • Enterprise:

    Unlimited user access (Within your organization).
    Complimentary Customization Included

*For Enterprise license, go to checkout page

Technavio Get the report (PDF) sent to your email within minutes.