Automotive Shock Absorber and Struts Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
- Transparency Market Research
Shock absorber and struts are commonly used terms for the suspension system of a vehicle. However, shock absorber and struts are two different components. The shock absorber in a vehicle prevents the car from bouncing. The shock absorber assembly consists of hydraulic fluid and a piston arrangement. Primarily, tube type and mono tube type are the two types of shock absorbers that are utilized mostly in suspension systems. Struts are a combination of springs and shock absorbers. They support the vehicle weight; however, their primary function is to reduce vibrations. Struts are stronger than shock absorbers owing to their weight-bearing capacity.
Consistent increase in demand for passenger vehicles, owing to rapid urbanization, increase in per capita income, and stable economic conditions is likely to drive the automotive shock absorber and struts market during the forecast period. Increase in awareness regarding vehicle comfort and safety among consumers is anticipated to drive the shock absorber and struts market during the forecast period. However, continuous change in technology in suspension system is likely to hamper the market of automotive shock absorber and struts in forecast period.
The global automotive shock absorber and struts market can be segmented based on application, vehicle, sales channel, and region. Based on application, the market can be segregated into shock absorber and struts. The function of shock absorber and struts is the same; however, the assemblies are different. Struts provide structural support to the vehicle and dampen vibrations.
Based on vehicle, the automotive shock absorber and struts market can be classified into passenger vehicles and commercial vehicles. Furthermore, the commercial vehicles segment can be sub-segmented into light commercial vehicles, heavy commercial vehicles, and buses & coaches. The passenger vehicles segment holds a major share of the shock absorber and struts market. The passenger vehicles segment can be sub-segmented into hatchbacks, sedans, SUVs, MUVs, and luxury cars. Shock absorber and struts plays a vital role in the vehicle suspension systems in order to enhance passenger comfort. Low cost availability, rapid urbanization in developing countries, and increase in commute and miles are likely to drive the passenger vehicle market during the forecast period. Rapid industrialization and expansion of the construction industry in developing countries are anticipated to drive the commercial vehicle market during the forecast period.
Based on sales channel, the shock absorber and struts market can be segmented into OEMs and aftermarket. The expansion of the segment is likely to drive the market of shock absorber and struts during the forecast period, owing to easy availability of parts and low cost with good services facility.
Based on region, the shock absorber and struts market can be segmented into North America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific dominates the the shock absorber and struts market and is estimated to maintain its dominant position in the market during the forecast period, owing to the significant expansion of the auto industry, continuous increase in sales of passenger vehicles and commercial vehicles, and rise in the production plants of vehicle in countries such as China, Japan, and India. The automotive shock absorber and struts market in Europe and North America is projected to expand at a steady pace during the forecast period.
Key players operating in the global automotive shock absorbers and struts market include Tenneco Inc., ZF Friedrichshafen AG, GKN plc, Samvardhana Motherson Group, Gabriel India Limited, KYB Americas Corporation, LEACREE Company, and Neox.
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