Automotive Gas Charged Shock Absorbers Market
Automotive Gas Charged Shock Absorbers Market Report Covers Detailed Industry Scope, Future Scenario and Elaborates Outlook to 2031
The global market for automotive gas charged shock absorbers – standing at an approximate valuation of US$ 2.9 Billion in 2021 in terms of revenue sales, is likely to observe a robust annual growth rate over the next few years. Expanding at a CAGR of approximately 5%, the global automotive gas charged shock absorbers market is projected to exceed the revenue of US$ 3.4 Billion towards 2022 end.
Explaining the market dynamics, a senior research analyst at Future Market Insights, elaborates, “Driver’s safety and driving comfort are the two major factors favouring automotive gas charged shock absorbers demand, globally.
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An important part of a vehicle’s suspension, automotive gas charged shock absorbers reduces the effect of travelling in rough terrains, by controlling excessive suspension movements providing a much firmer ride. Ride and handling performance of a vehicle will remain the top influencers in consumer buying decisions, with demand being significantly high in region with poor road conditions”.
Explaining further, the analyst explains, “All vehicles, whether passenger cars to heavy duty trucks, are being increasingly equipped with damping control technology, ensuring improved on-road performance along with protecting critical vehicular components against premature wear and failure.
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Technologically Advanced Electronic and Monotube Variants to Take Over Conventional Shock Absorbers
Compared to the twin-tube design, a monotube shock absorbers are being increasingly preferred owing to its design that further prevents any aeration and cavitation from occurring. Considered ideal for luxury sedans, SUV rear axles, and sports car applications, monotube shock absorbers offers faster damping reaction and prompt responses to changing road conditions, as a result of continuous pressure exerted on the oil, by the gas.
M&A Remains a Preferred Forward Market Strategy
FMI anticipates strategic mergers and acquisitions to remain a critical expansion strategy among manufactures of automotive gas charged shock absorbers, creating a substantial opportunity for the shock absorber market. Some key developments include:
Recently, Samvardhana Motherson Group (SMG) entered in a partnership with MS Global India Pvt. Ltd., engaged in the manufacturing of pressed sheet metal and frames for chassis used in commercial vehicles. This partnership is aimed at business expansion in the automotive vehicle components sector. During the same fiscal year, the company established a shock absorber manufacturing company, Magnetti Marelli Shock Absorbers India Pvt. Ltd., to supply shock absorbers for automotive vehicles.
In 2018, Tenneco Inc. offered Continuously Variable Semi-Active (CVSA2) suspension technology for SUVs of Mercedes-Benz G-Class. The aim for this product launch was to enrich its market share in the SUV vehicle segment.
FMI Offers Segmentation Analysis of Automotive Gas Charged Shock Absorbers
Europe, is anticipated to remain the most lucrative region as the automotive parts and accessories industry continues to remain strong in the region, on account of positive sentiment and perception towards European parts and component. Moreover, intense transition towards EVs and ADAS, collaboration with tech companies, and increasing investment in R&D are likely to be the key trends in the Europe automotive gas charged shock absorbers market.
Automotive gas charged shock absorbers market in India and SEAP is anticipated to grow at a notable growth rate during the forecast period
Sales of automotive gas charged shock absorbers through OEM channel is anticipated to represent a market share of nearly 45 percent, through the forecast period of 2018 to 2027, growing at US$ 181.9 Mn annually.
Revenue from aftermarket automotive gas charged shock absorbers segment is anticipated to increase at moderate CAGR, valued a little over US$ 208 Mn by 2027.
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Automotive Gas Charged Shock Absorbers Market: Segmentation
Sales Channel:
OEM
Aftermarket
Vehicle Type:
Passenger Car
LCV
HCV
Two Wheelers
Design Type:
Twin
Mono
Region:
North America
Latin America
Europe
Japan
APEJ
MEA
Table Of Content
Global Automotive Gas Charged Shock Absorbers Market – Executive Summary
Global Automotive Gas Charged Shock Absorbers Market Overview
2.1. Introduction
2.1.1. Wheel of Fortune
2.1.2. Global Automotive Gas Charged Shock Absorbers Market Taxonomy
2.1.3. Global Automotive Gas Charged Shock Absorbers Market Definition
2.2. Global Automotive Gas Charged Shock Absorbers Market Size (US$ Mn & Volume) and Forecast, 2013-2027
2.2.1. Global Automotive Gas Charged Shock Absorbers Market Y-o-Y Growth
2.3. Global Economic Outlook
2.4. Global Gross Domestic Product (GDP) Outlook
2.5. Global Two Wheelers Market Overview
2.6. Porter’s Five Forces Analysis
2.6.1. Threat of New Entrants
2.6.2. Bargaining Power of Suppliers
2.6.3. Rivalry among Existing Competitors
2.6.4. Availability of Substitutes
2.6.5. Bargaining Power of Buyers
2.7. Forecast Factors
2.8. Global Automotive Gas Charged Shock Absorbers Market Dynamics
2.9. Market Attractiveness Analysis by Region
2.10. Supply Chain
2.11. Cost Structure
2.12. Pricing Analysis By Key Segments
2.13. Pricing Analysis By Region
2.14. Key Participants Market Presence (Intensity Map) By Region
North America Automotive Gas Charged Shock Absorbers Market Size and Forecast, 2013-2027
4.1. North America Market Outlook
4.2. North America Automotive Industry Outlook
4.3. Revenue (US$ Mn) & Volume Comparison, By Country
4.4. Revenue (US$ Mn) & Volume Comparison, By Sales Channel
4.5. Revenue (US$ Mn) & Volume Comparison, By Vehicle Type
4.6. Revenue (US$ Mn) & Volume Comparison, By Design Type
Key Points Covered In Automotive Gas Charged Shock Absorbers Market Research
Market Estimates And Forecast 2021 – 2031
Key drivers and restraints impacting the market growth
Segment wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Brand share and Market share Analysis
Key Product Innovations and Regulatory Climate
COVID-19 Impact on automotive Gas Charged Shock Absorbers Market And How to Navigate
Recommendations on Key Winning Strategies
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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