USD 17.07 Billion
Automotive Shock Absorber Market Size, Share, and Growth Analysis
Automotive Shock Absorber Market By Technology (Active, Passive), By Vehicle, By Design, By Sales Channel, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG25C2152 |
Region:
Global |
Published Date: December, 2024
Pages:
178
|Tables:
0
|Figures:
0
Format -
Automotive Shock Absorber Market Insights
Automotive Shock Absorber Market size was valued at USD 17.07 Billion in 2023 and is poised to grow from USD 17.87 Billion in 2024 to USD 24.65 Billion by 2032, growing at a CAGR of 4.7% during the forecast period (2025-2032).
Rapidly surging demand for vehicles around the world and growing automotive manufacturing are expected to be key factors promoting the sales of automotive shock absorbers going forward. High demand for better driving experience and rising demand for premium and luxury vehicles around the world are also estimated to generate new opportunities for automotive shock absorber companies in the future. Technological advancements in the development of new shock absorbers and increasing investments in the development of advanced automotive shock absorbers with novel materials are also estimated to benefit automotive shock absorber market development going forward. Rising sales of electric vehicles and the need for custom shock absorbers for these vehicles is also expected to bolster automotive shock absorber market development in the long run. On the contrary, availability of alternative suspension systems, high competition from domestic manufacturers, and cost pressure are some key constraints that are slated to trouble automotive shock absorber companies in the long run.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Passenger Vehicles
Fastest Growth
Commercial Vehicles
Growth Rate
4.7% CAGR
Global Automotive Shock Absorber Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Automotive Shock Absorber Market Segments Analysis
Global Automotive Shock Absorber Market is segmented by Technology, Vehicle Type, Design, Sales Channel and Region. Based on Technology, the market is segmented into Passive, Active, Semi Active. Based on Vehicle, the market is segmented into Passenger Vehicles, Commercial Vehicles. Based on Design, the market is segmented into Twin Tube, Mono Tube. Based on Sales Channel, the market is segmented into OEM, Aftermarket. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Sales Channel
OEMs (original equipment manufacturers) are projected to spearhead the global automotive shock absorber demand outlook. OEM automotive shock absorbers are highly preferred and endorsed by automotive companies as they are specially designed and tuned for a specific vehicle to provide maximum comfort. However, OEM automotive shock absorbers are often quite expensive, which might hurt some market share of this segment in the future. High value for money offered by OEM automotive shock absorbers is another factor that is slated to help this segment bring in the most revenue for market players going forward.
On the other hand, the demand for aftermarket automotive shock absorbers is slated to rise at an impressive pace across the study period and beyond. Aftermarket automotive shock absorbers are components designed by different automotive component manufacturers by referring to the OEM spec parts, they are often cheaper as they are mostly locally manufactured. Shorter lifespan and moderate ride quality and experience offered by cheap aftermarket automotive shock absorbers is a key factor that is expected to hurt the market share of this segment. However, rising availability of custom and performance aftermarket automotive shock absorbers made with high precision and quality materials is projected to help companies overcome the aforementioned drawback and maximize their business scope in the long run.
Analysis by Vehicle Type
Passenger vehicles are forecasted to account for a dominant share of the global automotive shock absorber market owing to surging sales of vehicles on a global level. High demand for a comfortable ride, growing sales of premium and luxury vehicles, and evolving consumer preferences are key factors that are promoting the sales of automotive shock absorbers in this segment. Rapidly increasing passenger vehicle production around the world owing to their rising sales are also expected to aid the dominance of this segment in the future. A rising number of wealthy individuals around the world are also expected to promote the use of advanced automotive shock absorbers in passenger vehicles going forward.
Meanwhile, the demand for automotive shock absorbers in commercial vehicles is estimated to rise at a notable pace across the forecast period and beyond. Growing emphasis on improving the ride quality and safety of commercial vehicles around the world is projected to primarily make this a highly opportune segment for automotive shock absorber companies. Developing custom automotive shock absorbers that can contribute to efficiency enhancement along with ride quality enhancement will offer new business scope for incoming as well as established automotive shock absorber manufacturers over the coming years. Growing commercial vehicle sales will also contribute to new opportunities for market players in the future.
Global Automotive Shock Absorber Market By Vehicle Type
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Automotive Shock Absorber Market Regional Insights
The presence of key automotive giants and multiple automotive shock absorber manufacturers allows the Asia Pacific region to emerge as the dominant region in the global automotive shock absorber market landscape. Rising sales of vehicles, growing disposable income, high demand for better ride quality, and increasing urbanization are some key factors that will help boost sales of automotive shock absorbers in this region going forward. India and China are slated to be at the forefront in terms of automotive shock absorber demand in the Asia Pacific region through 2031 and beyond. Demand for aftermarket automotive shock absorbers is slated to be higher in this region owing to pricing pressure in the domestic market.
Meanwhile, North America is forecasted to account for the second-largest share of the global automotive shock absorber market. Growing demand for comfortable driving experience, rising sales of luxury and premium vehicles, and growing adoption of advanced suspension systems are key factors that create new opportunities for automotive shock absorber companies going forward. Canada and the United States are projected to emerge as the most opportune markets for automotive shock absorber companies operating in North America in the future. Growing demand for custom automotive shock absorbers owing to the presence of a strong vehicle customization culture in North America will also offer lucrative business scope for market players in the long run.
Global Automotive Shock Absorber Market By Region
- Largest
- Fastest
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Automotive Shock Absorber Market Dynamics
Automotive Shock Absorber Market Drivers
Demand for Comfortable Driving Experience
- Consumers around the world are demanding a comfortable driving experience and this is why automotive companies are installing advanced automotive shock absorber systems. Use of these components helps in reducing vibrations, bumps, and shocks while driving, improving overall passenger experience. Surging demand for luxury and premium vehicles will also drive market growth.
Rising Sales of Vehicles Around the World
- Rapid urbanization and growing disposable income of people around the world has resulted in a notable upsurge in the sales of vehicles. This rise in sales has boosted the automotive manufacturing industry and thereby also driving up the demand for automotive shock absorber systems and components in the aftermarket as well as OEM channels.
Automotive Shock Absorber Market Restraints
Use of Advanced Suspension Alternatives
- The high demand for better ride quality and comfort has given rise to the popularity of alternative suspension technologies such as air suspension or ride-height adjustable systems. Growing use of these systems is projected to impede the sales of automotive shock absorbers as they are not required in these advanced suspension systems.
High Competition from Local Manufacturers
- While the automotive shock absorber market is quite extensive on an international level, the competition gets granular on a domestic level as local manufacturers get involved with their cheaper products. These cost-effective alternatives, though potentially of lower quality, are widely adopted in price-conscious markets making it difficult for international automotive shock absorber companies to boost their sales thereby also slowing down the overall market growth potential as well.
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Automotive Shock Absorber Market Competitive Landscape
Automotive shock absorber companies should focus on providing new products to stay competitive in the global market. Collaborating and partnering with automotive companies to ensure high OEM sales will also be a key strategy for market players in the future. Use of advanced materials and composites to develop lighter and more efficient automotive shock absorber will also generate new opportunities for automotive shock absorber manufacturers going forward.
Top Players in Automotive Shock Absorber Market
- Brinn Inc. (United States)
- BWI Group (India)
- Continental AG (Germany)
- Datsons Engineering Works Pvt. Ltd. (India)
- DMA Sales, Inc. (United States)
- Duroshox (United States)
- Endurance Technologies Limited (India)
- FCS Auto (India)
- Halla Holdings Corp. (South Korea)
- Hitachi Automotive Systems, Ltd. (Japan)
- Kobe Suspensions (Japan)
- KYB (Japan)
- LEACREE Company (South Korea)
- Magneti Marelli S.p.A. (Italy)
- QBAutomotive (United States)
- Ride Control, LLC (United States)
- Robert Bosch GmbH (Germany)
- Samavardhana Motherson Group (India)
Recent Developments
- In May 2024, KONI Shock Absorbers, a leading automotive component provider based in the Netherlands announced the launch of its new KONI GTS Coilover Suspension kit. This new customizable suspension package allows vehicle owners to have the option to customize their vehicle for daily driving as well as track driving applications.
- In December 2023, NTN Europe, a renowned provider of suspension components announced the launch of its new 100% gas shock absorbers. SNR shock absorbers utilize pressurized nitrogen to provide optimal shock absorption capabilities and enhance the driving experience for different vehicles.
- In April 2023, ZF Friedrichshafen, a German automotive technology and component provider announced the launch of its new TRW products in the Indian market. This product range included brake discs, brake pads, and shock absorbers. Through this move the company intended to expand its aftermarket presence in India.
Automotive Shock Absorber Key Market Trends
- Development of Customized Automotive shock absorbers: Automotive shock absorber companies should emphasize the development of customized or customizable automotive shock absorber systems to enhance their revenue generation in the long run. Rapidly changing consumer preferences around the world are expected to help this trend offer new opportunities for market players going forward. Off-road and performance vehicle segments will surely benefit from this trend in the future.
- Use Advanced Materials: Automotive shock absorber companies can focus on using advanced materials and composites to improve the characteristics of their offerings. Lightweight shock absorbers contribute to overall vehicle weight reduction, improving fuel efficiency and handling, which also help automotive companies comply with modern sustainability and emission mandates in the future.
Automotive Shock Absorber Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing demand for comfortable driving and rising sales of premium and luxury vehicles are projected to drive up the demand for automotive shock absorbers. However, high competition in domestic markets from local companies and the growing popularity of alternative suspension technologies are slated to slow down sales of automotive shock absorbers in the future. Asia Pacific region is forecasted to spearhead the global automotive shock absorber market growth owing to the presence of key automotive manufacturers and rising vehicle sales. Developing custom automotive shock absorbers for different vehicles will offer good returns for automotive shock absorber companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 17.07 Billion |
| Market size value in 2032 | USD 24.65 Billion |
| Growth Rate | 4.7% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Shock Absorber Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Shock Absorber Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Shock Absorber Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Shock Absorber Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Shock Absorber Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Shock Absorber Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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