What is Car Shock Absorber Market?
Shock absorbers are an important part of an automobile. It not only controls the movement of suspension & spring but also keeps tires in contact with the ground. The car need a wheel alignment after the shock absorbers and at a typical cost of around USD 20-USD 400. Increase demand for car production across the world is projected to drive the global car shock absorbers market over the forecast period.
The market study is being classified by Type (Air Shock Absorbers, Damper Shock Absorbers, Shocks with Reservoirs and Spring Shock Absorber), by Application (Commercial vehicle and Passenger vehicle) and major geographies with country level break-up.
ZF Friedrichshafen AG (Germany), KYB Corporation (Japan), Tenneco (United States), Showa Corporation (Japan), Bilstein (United States), Anand Group (India), Mando (United States), Magneti Marelli S.p.A. (Italy), Hitachi, Ltd. (Japan) and Alko (Finland) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are The Escorts Group (India), S&T Motiv Co., Ltd (South Korea), Duroshox (India), Jiangsu Bright Star Shock Absorber Co.,Ltd. (China), CVCT (France), Yaoyong Shock (China) and Faw-Tokico (China).
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Car Shock Absorber market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Car Shock Absorber market by Type, Application and Region.
On the basis of geography, the market of Car Shock Absorber has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- An increase in car production will affect the growth of the market. For instance, countries such as China, Japan, Germany, India, and others are the largest passenger car-producing countries. According to the China Association of Automobile Manufacturers (CAAM), China's car production rose 3.8% YoY. In addition, it is also found that more than 2.59 million automobiles were manufactured in China
Market Trend
- Technology Advancement in Car Shock Absorber Products
Restraints
- Stringent Rules and Regulation
Opportunities
- Growing Demand from Emerging Market
Challenges
- High Cost of Raw Material
Key Target Audience
Car Shock Absorber Companies, Regulatory Bodies, Component Suppliers, Distributors and Others