Automotive Shock Absorber Market is predicted to reach USD 7,885.27 million at a CAGR of 4.93% during the forecast period

Pune, India, August 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Automotive Shock Absorber Market.

A shock absorber, also known as a damper, is a mechanical or hydraulic device that absorbs and dampens shock waves. This is accomplished by changing the shock's kinetic energy into another kind of energy, which is subsequently dispersed. Dashpots are the most common type of shock absorber.

Automotive Shock Absorber

Market Synopsis

The global automotive shock absorber market was valued at USD 7,885.27 million in 2021 and expected to register a CAGR of 4.93% over the forecast duration. Asia Pacific accounted for the largest market share.

The global shock absorber market is very dynamic market and is expected to witness a steady growth over the forecast period. The growth of the shock absorber market is driven by various factors such as increase in automobile sales fuelled by rising e-vehicles sales, need for safety and comfort in vehicles, and growing automotive aftermarket. However, the growth of the automotive shock absorber market can be hindered due to oil leakage and noise.

Automotive Shock Absorber Market Competitive Landscape

The global automotive shock absorber market is characterized by the presence of many global, regional, and local vendors. The automotive shock absorber market is highly competitive, with all the players competing to gain maximum market share. Intense competition, frequent changes in government policies, and regulations are key factors that impacts automotive shock absorber market growth. The vendors compete based on cost, product quality, reliability, and aftermarket services. The vendors must provide cost-efficient and high-quality automotive shock absorbers to sustain their presence in an intensely competitive market environment.

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Market Segmentation:

Automotive Shock Absorber Market Based on technology:

• Air shock absorber: the most common types of shock absorbers used in automobiles have been hydraulic and gas-filled shock absorbers, which are fitted in both front and rear suspension systems. Manufacturers of shock absorbers are always developing and enhancing technical features of suspension systems, such as shock absorber design, acceleration, grip, and smoothness.


• Damper shock absorber: Damper shock absorbers offer various features, such as good adjustable configuration, reduction of force capacity by letting out the gas, and easy locking of the position of the dampers (either at the ends or the middle of the stroke). The damper shock absorbers generally ensure cost-effective, reliable, and durable operations of the passenger cars, trucks, and light commercial vehicles to provide a stiff ride in some passenger cars, such as Maruti Suzuki Gypsy and Maruti Suzuki WagonR.


• Active: Active suspensions, on the other hand, use some form of actuator to individually lift and lower the chassis at each wheel.


• Semi-active: Semi-active suspension refers to a type of vehicle suspension system that adjusts the shock absorber's damping force in response to input from constantly changing road surfaces.

Automotive Shock Absorber Market Based on application:

• Passenger car: Passenger car segment held the largest market share (66.53%) in 2020. Front and rear independent suspension systems are now standard on the great majority of passenger automobiles. The amount of unsprang weight – weight not supported by the suspension springs – is quite low and easy to handle, thanks to light, aluminium-alloy wheels and standard original-equipment tires.


• SUV truck: The shock absorbers on light trucks and sport utility vehicles (SUVs) are maintained similarly to those on cars, but the loads and forces are much larger, and the hardware is significantly different. 


• Heavy vehicle: In trucks and buses, the correct shock absorbers, designed for the vehicle and its maximum load, are critical to keeping the load and the entire vehicle safe. Shock absorbers dampen vibrations in the chassis suspension, ensuring that the wheels are always in touch with the road surface, even if it is uneven. This improves the vehicle's stability and safety on the road. At the same time, lowering the vibrations protects sensitive cargo from excessive jolts.


• E-vehicle: For e-vehicles car-like that car-like suspensions and shock absorbers are sufficient.


• Others: Shock absorbers improve the vehicle's stability and safety on the road. At the same time, lowering the vibrations protects sensitive cargo from excessive jolts.

Automotive Shock Absorber Market Based on region:

• North America: Throughout the projection period, the United States will continue to be one of the most lucrative automotive shock absorber market. Due to the growth in vehicle miles travelled in the country, one of the important drivers is the expanding vehicle numbers and aftermarket for shock absorbers. Because the United States is one of the major automobile marketplaces in the world, it has a significant number of OEMs and a large aftermarket industry.


• Asia-Pacific: Shock absorber manufacturers in China are benefiting from the increase in yearly vehicle parc growth and increased demand for shock absorbers in the aftermarket. China is a major source of shock absorbers, with several local manufacturers collaborating with international firms. Due to rising car ownership and vehicle age in the country, the replacement aftermarket is also expanding. China is a profitable market for shock absorbers, with manufacturers pursuing market share through mergers and acquisitions.


• Europe: Germany is home to several well-known OEMs as well as aftermarket part suppliers. Shock absorber manufacturers are boosting their production volumes day by day to meet the growing demand for vehicles. Increased vehicle age and increased knowledge of vehicle safety features has resulted in a rise in shock absorber replacements in the country, boosting the aftermarket.


• Middle East & Africa: In 2020, GCC countries such as Saudi Arabia, the United Arab Emirates, and Kuwait sold 696,542 new vehicles. With increased demand for luxury and SUVs in the region, GCC countries would generate considerable prospects for automotive shock absorber market makers in the Middle East and Africa region.


• Latin America: Brazil account for most of the demand in South America. Considering the increasing demand, the region is witnessing increased developments in the field of shock absorbers.