Automotive Shock Absorber and Struts Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Automotive Shock Absorber and Struts Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

  • Transparency Market Research
  • Ongoing
  • Machines

Report Description

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.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Have query on this report?

Make an Enquiry

Success Stories

Our Clients