Automotive Shock Absorber Market Growth, Demand and Forecast

A vehicle’s suspension system depends on shock absorbers, which help absorb and reduce impact from the road and ensure a comfortable ride. Shock absorbers for off-road vehicles are specifically designed to withstand the harsh conditions of off-road driving. They allow for different spring seat and ride height settings, enhancing comfort and stability. As the demand for comfort and safety increases, shock absorbers are becoming more popular. They help control vehicle roll, bounce, and maintain tire loads, while also reducing acceleration squat and brake dive for a balanced ride.

According to SPER market research, ‘Global Automotive Shock Absorber Market Size- By Type, By Design Type, By Vehicle Type – Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Global Automotive Shock Absorber Market is predicted to reach 25.27 billion by 2034 with a CAGR of 4.73%.

Drivers:

The shock absorber system reduces vibrations and shocks on rough terrains to enhance comfort and safety for drivers and riders. Concerns about vehicle comfort and safety are leading to new developments in shock absorbers. The growing preference for luxury vehicles with sturdy shock absorber systems is expected to increase market demand. Trends in the automotive shock absorber market show that the need for small and lightweight components in new cars will drive demand for shock absorbers. The growing popularity of SUVs and small SUVs is also contributing to the demand for advanced and reliable shock absorbers globally, supported by rising vehicle sales and consumer income.

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Restraints:

Price competitiveness is a major concern in the vehicle shock absorber sector. Companies are often under pressure to deliver competitive pricing while being profitable. Fluctuations in raw material costs, foreign exchange rates, and fierce competition can all put downward pressure on shock absorber prices, affecting manufacturers’ profit margins. The rapid pace of technological innovation provides both possibilities and challenges for shock absorber makers. Keeping up with cutting-edge technology like smart shock absorbers, networked systems, and improved manufacturing processes necessitates major expenditures in research, development, and production capacities.

In 2024, the automobile shock absorber market was dominated by North America. The demand for shock absorbers relates closely to vehicle production and sales in the region. Economic conditions, consumer confidence, and new vehicle launches influence this demand. There is a strong preference for light trucks, SUVs, and crossovers in North America, which have different suspension needs than smaller cars. Additionally, the interest in performance and sports cars boosts the demand for high-performance shock absorbers, as consumers want better handling and a sportier driving experience. Some of the key market players are Apollo, Arnott Inc, Bilstein, Duro Shox Pvt. Ltd, Gabriel India Ltd, Hitachi, ITT Corporation, KYB Group, and others.

For More Information, refer to below link: –

Automotive Shock Absorber Market Growth

Commercial Vehicle Accessories Market Size

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