Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Shock Absorber Market Size

The global shock absorber market value reached approximately USD 14.76 billion in 2023. The market is projected to grow at a CAGR of 4% between 2024 and 2032, reaching a value of around USD 21.19 billion by 2032.

 

Global Shock Absorber Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 14.76
Market Size 2032 USD Billion 21.19
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 4.0%
CAGR 2024-2032 - Market by Region Asia Pacific 4.6%
CAGR 2024-2032 - Market by Country India 4.5%
CAGR 2024-2032 - Market by Country Saudi Arabia 4.4%
CAGR 2024-2032 - Market by Type Gas Charged 4.8%
CAGR 2024-2032 - Market by Technology Active 4.7%
Market Share by Country 2023 Australia 2.3%

 

Shock Absorber Market Report Snapshots

Shock Absorber Market Size

Shock Absorber Market Growth

Shock Absorber Market Analysis

Shock Absorber Market Share

Shock Absorber Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Outline the Scope

Key Questions Answered in the Report

In 2023, the global shock absorber market attained a value of nearly USD 14.76 billion.

The global shock absorber market is assessed to grow at a CAGR of 4% between 2024 and 2032.

The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 21.19 billion by 2032.

The market is driven by technological advancements and rising vehicle production owing to urbanisation and improving infrastructure.

The implementation of stringent safety regulations for automobiles and the rising emphasis on comfort and ride quality are expected to aid the expansion of the market.

The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The different vehicle types include two and three-wheelers, passenger vehicles, and commercial vehicles.

The key players in the market include ZF Friedrichshafen AG, thyssenkrupp AG, Tenneco Inc., KYB Corporation, Marelli Holdings Co., Ltd., Meritor, Inc., Munjal Showa Limited, Koni BV, Hitachi Astemo Ltd., and DMA Industries, LLC, among others.

The leading types in the market are hydraulic and gas charged.

The significant modes of technology of shock absorber in the market are active, and passive.

The competitive landscape consists of ZF Friedrichshafen AG, thyssenkrupp AG, Tenneco Inc., KYB Corporation, Marelli Holdings Co., Ltd., among others.

The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

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