Global shock absorber market is anticipated to grow at a CAGR of 4.1% during the forecast period (2024-2031). Shock absorbers play a crucial role across a wide range of industries, such as automotive, aerospace, railways, defense, marine, offshore, healthcare, consumer goods, agriculture, wind turbines, and oil and gas. It enhanced comfort, handling, and safety by mitigating road shocks and vibrations. These parts are applied in several vehicles such as passenger cars, SUVs, commercial vehicles, motorcycles, scooters, and electric vehicles. In aerospace, integral to landing gear systems, industrial and railway, contributing to machinery stability, and in the defense application: armored vehicles and missile launch systems, while in the marine and offshore, it is important for boats, yachts, and drilling rigs. Shock absorbers are further used in medical devices, prosthetics, exercise machines, office furniture, and agriculture to regulate vibrations for stability.
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Recent Market Developments
- IN October 2024, PRT announced the launch of 20 new products in North America. Complete strut assemblies and shock absorbers are among the new part numbers, which cover around 8 million vehicles. Along with well-known pickup truck applications such as the Ford F-150, Chevrolet Silverado, and Dodge Ram 1500, the launch also covers light vehicles like the Hyundai Sonata, Mercedes-Benz C-Class, and Subaru WRX.
- In March 2022, Apec launched a new range of shock absorbers, after other non-braking launches in steering, suspension, coil springs, and drivetrain. These high-quality components are safety-critical parts guaranteed by Apec’s commitment to manufacturing, testing, and product quality.
- In March 2021, Transit developed newly designed TMC shock absorbers that adapt dynamically to road conditions to provide more safety and comfort to commuters. The shock absorber is made of chrome plating on the piston rod, which gives resistance to corrosion.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
- Segment Covered-
o By Type
o By Vehicle Type
o By Sales Channel
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape – KYB Corp., Tenneco Inc., ZF Friedrichshafen AG, Hitachi Astemo, Ltd., ThyssenKrupp AG, and others.
Key questions addressed by the report.
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Shock Absorber Market Report Segment
By Type
- Twin Tube
- Mono Tube
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
By Sales Channel
- Original Equipment Manufacturer (OEM)
- Aftermarket
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