Shock Absorber Market growing exponentially at CAGR of 6.1% by forecast period of 2018 to 2023. This Global Shock Absorber Market growth is boosted by factors such as, growing demand and increase in the production of vehicles.
Pune, India -- (SBWIRE) -- 06/14/2018 -- The growing demand of the production of vehicle has been seen an increase from past years due to increase in demand in countries such as India and China. This increase in the product of the vehicle have led to growing use of Shock Absorber in the vehicle. This increase in usage will drive the Shock Absorber market during the forecast period.
Shock Absorber Market Key Players Analyzed In Report Are:
Meritor, Inc. (U.S.), ZF Friedrichshafen AG (Germany), Delphi Automotive Plc. (U.K.), Gabriel India Ltd. (India), Hitachi, Ltd. (Japan), KYB Europe G.M.B.H (Germany), SHOWA Corporation (Japan), Tenneco Inc. (U.S.), Koni BV (Netherlands), Thyssenkrupp Bilstein Gmbh (Germany).
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The advancement in automotive industry have led the automotive manufacturers to innovate their products in order to sustain the market. This innovation in technology have led to the growth of the market during the forecast period. The increase concern for the comfort among the passenger have led to growing use of shock absorber in the vehicles. This growing demand of shock absorber will drive the shock absorber market during the forecast period. OEM is expected to dominate the automotive shock absorber market during the forecast period they are trying to reduce the weight of shock absorbers in order to improve the efficiency of the vehicles. The improve in the efficiency of the vehicle will result in growing demand for light weight shock absorber in the market. OEMs are trying to increase the penetration in the merging nation such as India, China, and Japan. The increase in the penetration by the OEMs will result in the growth of the automotive shock absorber market during the forecast period.
The automotive shock absorber market is segmented based on type, vehicle type, sales channel, and region. On the basis of type, the market is segmented as air shock absorber, damper shock absorber, and others. Air shock absorber segment is expected to dominate the market during the forecast period due to higher sustainability. Air shock absorber segment is driven by the electric or electric driven air pump, which gives smooth and improved ride quality or the passengers. On the basis of vehicle type, the market has been segmented as passenger cars and commercial vehicles. The passenger car segment is expected to dominate the market during the forecast period due to increase sales of passenger cars and SUVs. There is growing demand for the crossovers and SUV in passenger car segment because of their improved fuel efficiency. There are various innovation done in the automotive shock absorber such as active suspension system that provides perfect ride on any type of roads. Mercedes-Benz has developed ABC (Active Body Control) system in order to reduce power consumption and cost of the manufacturing.
Asia Pacific region is expected to dominate the automotive shock absorber industry due to the increase in the production of vehicles in this region. The emerging countries such as India, China, Japan, and others are having automotive manufacturing hub due to which there is growth in the production of vehicles. The shock absorber helps to reduce the effect of traveling on rough terrain roads which improves the quality of ride and increases the comfort for the passenger. This growing demand for comfort ride is expected to drive the automotive shock absorber in this region.
Scope of the Report:
This study provides an overview of the global Shock Absorber market, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
The report for Global Shock Absorber Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Get more details on this "Shock Absorber Market Research Report- Forecast to 2023" at: https://www.marketresearchfuture.com/reports/automotive-shock-absorber-market-4891
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