Shock Absorber Market by Type (Twin Tube and Mono Tube), Sales Channel, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2021-2030

PORTLAND, OR, UNITED STATES, July 4, 2023/EINPresswire.com/ — The global shock absorber market size is expected to reach $21.07 billion by 2030, growing at a CAGR of 4.7% from 2021 to 2030. This growth is being driven by the increasing demand for safety and comfort, the need for lightweight automotive shock absorbers, and the expansion of the automotive aftermarket industry.

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬 𝐨𝐟 𝐒𝐡𝐨𝐜𝐤 𝐀𝐛𝐬𝐨𝐫𝐛𝐞𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲
:
• The global shock absorber market is expected to grow at a CAGR of 4.7% from 2021 to 2030.
• The growth of the market is being driven by the increasing demand for safety and comfort, the need for lightweight automotive shock absorbers, and the expansion of the automotive aftermarket industry.
• The twin tube segment is the largest segment of the market, but the mono tube segment is expected to grow at the fastest CAGR during the forecast period.
• The aftermarket segment is expected to grow at the fastest CAGR during the forecast period, but the OEM segment is the largest segment of the market.
• Asia-Pacific is the largest market for shock absorbers and is expected to continue to grow at the fastest CAGR during the forecast period.
• The key players in the global shock absorber market include Gabriel India Limited, KONI BV, Hitachi Astemo Ltd., Mando Corp., KYB Corporation, Meritor Inc, Marelli Holdings Co., Ltd, Thyssenkrupp AG, Tenneco Inc, and ZF Friedrichshafen AG.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 – https://www.alliedmarketresearch.com/request-sample/10510

The aftermarket segment is expected to grow at the fastest CAGR during the forecast period, due to the increasing inclination of consumers to install advanced shock absorbers to improve the comfort and safety of their vehicles. However, the OEM segment is the largest segment of the market, accounting for more than three-fourths of the market share in 2020.

Asia-Pacific is the largest market for shock absorbers, accounting for more than one-third of the global shock absorbers market share in 2020. The region is expected to continue to grow at the fastest CAGR during the forecast period, due to the expansion of the transportation and logistics industry in the region.

The key players in the global shock absorber market include Gabriel India Limited, KONI BV, Hitachi Astemo Ltd., Mando Corp., KYB Corporation, Meritor Inc, Marelli Holdings Co., Ltd, Thyssenkrupp AG, Tenneco Inc, and ZF Friedrichshafen AG.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐃𝐚𝐭𝐚, 𝐓𝐚𝐛𝐥𝐞𝐬 𝐚𝐧𝐝 𝐀𝐜𝐭𝐢𝐨𝐧𝐚𝐛𝐥𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬) 𝐍𝐨𝐰 – https://www.alliedmarketresearch.com/shock-absorber-market/purchase-options

The twin tube segment is the largest segment of the market, accounting for nearly two-thirds of the market share in 2020. However, the mono tube segment is expected to grow at the fastest CAGR during the forecast period, due to its increasing use in luxury and mid-priced vehicles.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 – https://www.alliedmarketresearch.com/purchase-enquiry/10510

David Correa
Allied Analytics LLP
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