DUBLIN, January 30, 2024 (Globe Newswire) — The “Global Automotive Shock Absorber Market Report 2023” report has been added. ResearchAndMarkets.com Recruitment.
The automobile industry has recorded a gradual growth trajectory; Global automotive shock absorber market It is expected to grow from $13.2 billion in 2022 to $14.06 billion in 2023. This represents a robust compound annual growth rate (CAGR) of 6.5%. 17.41 billion by 2027 at a CAGR of 5.5%, despite the continued impact of the COVID-19 pandemic and global disruptions such as the Russia-Ukraine war. It is predicted to reach USD.
One of the main drivers of this growth is sustained global demand for automobiles. As an important component of car suspension system, shock absorber It plays an important role in ensuring stability and comfort by dampening suspension movements and maintaining contact between the tires and the road. Innovative product developments are also driving market growth, with industry leaders introducing advanced tools and solutions designed to meet Original Equipment (OE) specifications and meet evolving consumer needs. I am.
Regional Insights and Key Competitors in the Automotive Shock Absorber Sector
The Asia-Pacific region holds the hegemony of the world. Automotive shock absorber marketThanks to robust vehicle production and aftermarket services. Europe is hot on the trail as the fastest growing market and is anticipated to witness significant growth during the forecast period.
- ZF Friedrichshafen AG
- Magna International Co., Ltd.
- Tenneco Co., Ltd.
- Marelli Europe SpA
- Benteller Automotive Corporation
Among other things, these industry leaders are strategically positioning themselves through research and development efforts, mergers, and acquisitions to increase their market presence and strengthen their product offerings.
Product highlights and scope of application
The field of automotive shock absorbers is characterized by the following differentiation: single tube and twin tube Shock absorbers with focused advances in hydraulic and gas filling technology, state-of-the-art air, damping, active/semi-active shock absorbers. These product integrations span a variety of vehicles, including passenger cars, SUV trucks, heavy duty vehicles, and the rapidly growing electric vehicle (e-vehicle) segment.
The market report summarizes a comprehensive analysis, presents detailed segmentation and focuses on the manufacturing and sales dynamics of these important auto parts. The scope of the study warrants an extensive examination of factors influencing the market, regional assessment, and scrutiny of the competitive environment.
In conclusion, the automotive shock absorber market exhibits significant growth potential amid evolving vehicle dynamics and consumer preferences, and industry players are prepared to capitalize on the burgeoning opportunities in this sector. is completed. The detailed market research report provides valuable insights for stakeholders, strategists, and investors looking to navigate and gain an advantage in this dynamic market.
Some of the companies mentioned in this report include:
- ZF Friedrichshafen AG
- Magna International Co., Ltd.
- Tenneco Co., Ltd.
- Marelli Europe SpA, Benteler Automotive Corporation
- Mando Co., Ltd.
- Sumitomo Riko Co., Ltd.
- KYB Co., Ltd.
- Hitachi Astemo Co., Ltd.
- Continental AG
- Moog Co., Ltd.
- Meritor Co., Ltd.
- Showa Co., Ltd.
- FOX Factory Holding Co., Ltd.
- Endurance Technologies Limited
- BWI Group
- DMA Sales Co., Ltd.
- Arnott Industries
- Denso Corporation
- Koni BV
- Datsons Engineering Works Pvt Ltd.
- Brin Co., Ltd.
- ACDelco Co., Ltd.
- H&R Spezialfedern GmbH & Co. KG
- FCS Automotive International Co., Ltd.
- Ohlins Racing AB
- QB Automotive LLC
- Kobe Suspension Co., Ltd.
For more information about this report, please visit https://www.researchandmarkets.com/r/qqh1ml.
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Global automotive shock absorber market