Automotive Electric Shock Absorber Market size was valued at USD 5.4 Billion in 2024 and is projected to reach USD 12.1 Billion by 2033, exhibiting a CAGR of 9.5% from 2026 to 2033.
The global automotive electric shock absorber market was valued at USD 4.89 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030. The growth of this market is driven by the increasing demand for enhanced ride comfort and vehicle stability in electric and hybrid vehicles. As traditional shock absorbers are being replaced by more advanced, electronically controlled systems, the automotive electric shock absorber market is expanding rapidly. The rise in consumer preference for premium and luxury vehicles, which offer advanced suspension systems, is also contributing to market growth. Additionally, the demand for automotive electric shock absorbers is supported by the increased adoption of electric vehicles (EVs) and the trend toward autonomous vehicles, which require advanced shock absorption technology to ensure smooth and safe driving experiences. Regionally, the North American market accounted for a significant share of the automotive electric shock absorber market in 2022, with a valuation of USD 1.56 billion. This dominance is attributed to the strong presence of automotive manufacturers and the increasing adoption of electric vehicles in the region. Europe is also a prominent market, driven by regulatory advancements and rising consumer demand for electric and hybrid vehicles. The Asia Pacific region is expected to witness the highest growth rate, with an estimated CAGR of 7.4% during the forecast period, due to the increasing production of electric vehicles, government initiatives to promote EV adoption, and the growing automotive industry in countries like China, Japan, and India. The Latin American and Middle Eastern markets are projected to grow at a moderate pace due to improving automotive infrastructure and increased vehicle production.
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Hitachi Automotive (Japan)
SHOWA (Japan)
thyssenkrupp (Germany)
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Automotive Electric Shock Absorber Market
Twin-tube Shock Absorber
Monotube Shock Absorber
Gas-filled Shock Absorber
Adjustable Shock Absorber
Passenger Vehicle
Commercial Vehicle
Electric Vehicle (EV)
Off-road Vehicle
Top Mount
Bottom Mount
Eye Mount
Bar Mount
Steel
Aluminum
Composite
Active Shock Absorber
Hydraulic Shock Absorber
Pneumatic Shock Absorber
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Automotive Electric Shock Absorber Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Automotive Electric Shock Absorber Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Electric Shock Absorber Market, By Type
6. Global Automotive Electric Shock Absorber Market, By Application
7. Global Automotive Electric Shock Absorber Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Automotive Electric Shock Absorber Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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