Authored By: Sarah
19 Aug 2024

Automotive Dampers Market 2024-2028: Size and Use of faulty dampers leading to vehicle recalls; growth driven by the Application, Some of key Companies Positioned Strategically

The automotive dampers market size by Application (Passenger vehicles and Commercial vehicles) and Geography (APAC, Europe, North America, South America, and Middle East and Africa), is forecast to increase by USD 4.54 billion. The market is expected to grow at a CAGR of   2.12% between 2024 and 2028.

  • The automotive damper market faces significant challenges due to the critical role dampers play in the suspension system's optimal performance. Malfunctions in dampers can lead to safety concerns and costly vehicle recalls for Original Equipment Manufacturers (OEMs). For instance, in early 2019, Volkswagen of America Inc. voluntarily recalled certain models of AUDI Q7 and Q8 SUVs due to potential cracks in their front shock absorbers, which may result in loosened shock absorbers. Such reliability issues pose a substantial challenge to market growth.
  • The Automotive Dampers market is a significant sector in the global automotive industry, supplying essential components for optimizing vehicle ride comfort and handling. These hydraulic or electronic devices control the oscillation of suspension systems, enhancing safety and performance. Market growth is driven by increasing vehicle production, stringent safety regulations, and consumer demand for improved ride quality. Key players include ZF Friedrichshafen AG, ThyssenKrupp AG, and NSK Ltd.

Access the full report to know who are the other key countries segment-wise forecast and historic data

 

Some of the Key Companies:

  • ANAND Group
  • Asia America Industrial Manufacturing Inc.
  • Beijing Shougang Co. Ltd.
  • Cummins Inc.
  • Dexko Global Inc.
  • Duroshox Pvt. Ltd.
  • FAW Dongjigong Shock Absorber Co. Ltd.
  • Festo SE and Co. KG
  • Freudenberg and Co. KG
  • Hitachi Ltd.
  • HL Mando Co. Ltd.
  • ITT Inc.
  • KYB Corp.
  • Marelli Holdings Co. Ltd.
  • MSA DAMPER S.R.L.
  • Parker Hannifin Corp.
  • Tenneco Inc.
  • thyssenkrupp AG
  • WITTMANN Technology GmbH
  • ZF Friedrichshafen AG

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/

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