Automotive Shock Absorber Market Trends

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.