Shock Absorbers Market Scope
Shock absorbers are a crucial part of an automobile for absorbing shock during the movement of the automobile. Shock absorber are popularly known, function as dampers of shock resulting from vertical vibration of the vehicle. Their basic function to absorb shocks, which are transmitted from the wheels to frame. Thus, they ensure a comfortable ride and better control over the vehicle being driven. In addition, they also enhance the life of the vehicle in general and another component in particular, and this is propelling the growth of the shock absorbers market over the forecast period.
The market study is being classified by Type (Hydraulic, Pneumatic and Other), by Application (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles and Motorcycle) and major geographies with country level break-up.
The Vendors having a strong hold in the market are ZF Friedrichshafen AG, Tenneco Inc, KYB Corporation, and Showa Corporation. Research Analyst at AMA predicts that United States and European Vendors will contribute to the maximum growth of Global Shock Absorbers market throughout the predicted period.
ZF Friedrichshafen AG (Germany), Tenneco Inc. (United States), KYB Corporation (Japan), Showa Corporation (Japan), Magneti Marelli S.p.A. (Italy), BILSTEIN (United States), ITT INC (United States), Hitachi Automotive Systems, Ltd. (Japan), AL-KO (Germany) and Ride Control, LLC (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are ThyssenKrupp Technologies AG (Germany), ANAND Group (India), Sichuan Chuannan Absorber Group Limited (China) and Endurance Technologies Limited (India).
AdvanceMarketAnalytics has segmented the market of Global Shock Absorbers market by Type, Application and Region.
On the basis of geography, the market of Shock Absorbers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 29, October 2018, ZF Friedrichshafen AG has continued its growth and expansion in the region by announcing the start of its new shock absorber production line in India. The new production line will be part of ZF’s regional headquarters based in Chakan, Pune, with an annual installed manufacturing capacity of 0.7 million units.
- Increasing Use of Lightweight Material in Shock Absorbers
- Increasing Demand for Shock Absorbers in Heavy Commercial Vehicles
- Growing Demand for Comfort, Safety and Ride Quality
- Demand for Regenerative Shock Absorbers for Electric and Hybrid Vehicles
- Lack of Standardization of Independent Shock Absorbers
Key Target AudienceShock Absorbers Manufacturers, Suppliers of Shock Absorbers, Wholesalers, Distributors, and Retailers of Shock Absorbers, Manufacturer of Automotive Shock Absorbers Components, Automobile Industry and Governmental Bodies
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