Call for Safer and Noiseless Driving on Road to accelerate the Shock Absorber Market
Factors like rising demand for comfort and safety, lightweight automotive shock absorbers, and expanding automotive aftermarket industry are driving the growth of shock absorber market. Persistence Market Research has walked through these facets of the shock absorbers market with future prospects in its latest market study entitled “Shock Absorber Market”.
The Way the Shock Absorber Market is categorized…
The shock absorber market, by vehicle, spans passenger cars, LCVs, HCVs, and two wheelers. BY type of product, it’s gas-filled type and hydraulic type. By sales channel, it’s aftermarket and OEMs. By design, it’s mono-tune design and twin tube design. Persistence Market Research has given an eagle view of these findings with future perspectives in its latest market study entitled “Shock Absorber Market”.
Region-wise Snapshot
North America holds the largest market share due to the US being witness to growing consumption of vehicles. Coming to Europe, Germany is ruling the roost due to growing awareness regarding safety features to be followed by the vehicles. Also, electrical generator suspensions are evolving herein. India and China are dominating the market as far as the Asia-Pacific is concerned. In India, the roads are certainly not in the good condition. This results in growing demand for the shock absorbers. The demand for commercial and personal vehicles is also on the rise. China is home to various manufacturers of shock absorbers. GCC countries are also into creation of noteworthy opportunities for the manufacturers of automobiles. Persistence Market Research has mentioned about these developments with insights in its latest market study entitled “Shock Absorber Market”.
Competitive Landscape
Persistence Market Research has profiled the key players in shock absorber market as Samvardhana Motherson Group (SMG), Magneti Marelli S.p.A., Tenneco Inc., Meritor, Inc., ZF Friedrichshafen AG, Hitachi Automotive Systems, Ltd., SHOWA Corporation, KYB Corporation, ITT Corporation, ThyssenKrupp AG, Gabriel India Ltd., Duro Shox Pvt. Ltd., Arnott Inc., ACDelco, Inc., Zhejiang Sensen Auto Parts Co., Ltd., and likewise. It has also gone further with mentioning about the key developments on this part. For instance – ZF, of late, did announce starting a new-fangled production line of shock absorbers in India. This line would be part of expansion strategy in region. The production capacity ranges to 0.7 Mn units/year. KYB also announced launching KADS’ mass production. KADS comes across as one of the electronically controlled suspension systems for the motorcycles integrating hydraulic technology and control technology.
What Next?
The global shock absorber market is stated to grow on an astounding note in the next 10 years – Persistence Market Research
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