1h Free Analyst Time
Speak directly to the analyst to clarify any post sales queries you may have.
FEATURED COMPANIES
- Hitachi Ltd.
- ITT Inc.
- Kobe Suspensions
- NGK Spark Plug Co. Ltd.
- Showa Corp.
- Tenneco Inc.
1h Free Analyst Time
Speak directly to the analyst to clarify any post sales queries you may have.
Global Automotive Aftermarket Shock Absorbers Market: About this market
The automotive aftermarket shock absorbers market analysis considers sales from both passenger vehicles and commercial vehicle types. Our study also finds the sales of automotive aftermarket shock absorbers in APAC, Europe, MEA, North America, and South America. In 2019, the passenger vehicle segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growing demand for EVs and SUVs across the globe will play a significant role in the passenger vehicle segment to maintain its market position. Also, our global automotive aftermarket shock absorbers market report looks at factors such as an aging vehicle fleet with a high number of in-use vehicles, an increase in vehicle miles driven, and a rise in sales of luxury vehicles. However, decreasing global sales and production of vehicles, raw material price volatility, and availability of inexpensive low-quality shock absorbers may hamper the growth of the automotive aftermarket shock absorbers industry over the forecast period.
Global Automotive Aftermarket Shock Absorbers Market: Overview
Rise in the sales of luxury vehicles
Emerging economies including India, China, Thailand, and Brazil have become key contributors to the growing sales of luxury and premium vehicles. Luxury and premium vehicles feature the integration of advanced electronic components to provide enhanced comfort and safety. Moreover, these vehicles are also equipped with electronically controlled suspension systems including electronic shock absorbers. The consumers also prefer buying OEM quality shock absorbers to obtain a higher comfort level in vehicles. Thus, the increasing sales of luxury and premium vehicles will lead to the expansion of the global automotive aftermarket shock absorbers market at a CAGR of over 4% during the forecast period.
Manufacturers shift toward alternative lightweight materials
Increasing pollution levels across the globe have led to the intensification of stringency of emission standards. To comply with regulations on emissions norms, manufacturers are focusing on developing lightweight, efficient, and cost-effective products. This has encouraged the manufacturers to emphasize on deploying alternative lightweight raw materials for producing auto components. Companies in the market are introducing lightweight suspension parts made of lightweight materials such as carbon-fiber-reinforced plastics (CFRP) and glass-reinforced plastics (GRP). This development is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of several major players, the global automotive aftermarket shock absorbers market is fragmented. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive aftermarket shock absorbers manufacturers, that include ADD Industry (Zhejiang) Corp. Ltd., Hitachi Ltd., ITT Inc., Kobe Suspensions, LEACREE (Chengdu) Co. Ltd., NGK Spark Plug Co. Ltd., Showa Corp., Tenneco Inc., thyssenkrupp AG, and ZF Friedrichshafen AG.s
Also, the automotive aftermarket shock absorbers market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The automotive aftermarket shock absorbers market analysis considers sales from both passenger vehicles and commercial vehicle types. Our study also finds the sales of automotive aftermarket shock absorbers in APAC, Europe, MEA, North America, and South America. In 2019, the passenger vehicle segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growing demand for EVs and SUVs across the globe will play a significant role in the passenger vehicle segment to maintain its market position. Also, our global automotive aftermarket shock absorbers market report looks at factors such as an aging vehicle fleet with a high number of in-use vehicles, an increase in vehicle miles driven, and a rise in sales of luxury vehicles. However, decreasing global sales and production of vehicles, raw material price volatility, and availability of inexpensive low-quality shock absorbers may hamper the growth of the automotive aftermarket shock absorbers industry over the forecast period.
Global Automotive Aftermarket Shock Absorbers Market: Overview
Rise in the sales of luxury vehicles
Emerging economies including India, China, Thailand, and Brazil have become key contributors to the growing sales of luxury and premium vehicles. Luxury and premium vehicles feature the integration of advanced electronic components to provide enhanced comfort and safety. Moreover, these vehicles are also equipped with electronically controlled suspension systems including electronic shock absorbers. The consumers also prefer buying OEM quality shock absorbers to obtain a higher comfort level in vehicles. Thus, the increasing sales of luxury and premium vehicles will lead to the expansion of the global automotive aftermarket shock absorbers market at a CAGR of over 4% during the forecast period.
Manufacturers shift toward alternative lightweight materials
Increasing pollution levels across the globe have led to the intensification of stringency of emission standards. To comply with regulations on emissions norms, manufacturers are focusing on developing lightweight, efficient, and cost-effective products. This has encouraged the manufacturers to emphasize on deploying alternative lightweight raw materials for producing auto components. Companies in the market are introducing lightweight suspension parts made of lightweight materials such as carbon-fiber-reinforced plastics (CFRP) and glass-reinforced plastics (GRP). This development is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of several major players, the global automotive aftermarket shock absorbers market is fragmented. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive aftermarket shock absorbers manufacturers, that include ADD Industry (Zhejiang) Corp. Ltd., Hitachi Ltd., ITT Inc., Kobe Suspensions, LEACREE (Chengdu) Co. Ltd., NGK Spark Plug Co. Ltd., Showa Corp., Tenneco Inc., thyssenkrupp AG, and ZF Friedrichshafen AG.s
Also, the automotive aftermarket shock absorbers market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- Hitachi Ltd.
- ITT Inc.
- Kobe Suspensions
- NGK Spark Plug Co. Ltd.
- Showa Corp.
- Tenneco Inc.
PART 01: EXECUTIVE SUMMARYPART 07: CUSTOMER LANDSCAPEPART 09: DECISION FRAMEWORK
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY VEHICLE TYPE
PART 08: GEOGRAPHIC LANDSCAPE
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
List of Exhibits
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- Hitachi Ltd.
- ITT Inc.
- Kobe Suspensions
- NGK Spark Plug Co. Ltd.
- Showa Corp.
- Tenneco Inc.
The following companies as the key players in the global automotive aftermarket shock absorbers market: ADD Industry (Zhejiang) Corp. Ltd., Hitachi Ltd., ITT Inc., Kobe Suspensions, LEACREE (Chengdu) Co. Ltd., NGK Spark Plug Co. Ltd., Showa Corp., Tenneco Inc., thyssenkrupp AG, and ZF Friedrichshafen AG.
Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the manufacturers shift toward alternative lightweight materials.”
According to the report, one of the major drivers for this market is the rise in the sales of luxury vehicles.
Further, the report states that one of the major factors hindering the growth of this market is the decreasing global sales and production of vehicles.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the manufacturers shift toward alternative lightweight materials.”
According to the report, one of the major drivers for this market is the rise in the sales of luxury vehicles.
Further, the report states that one of the major factors hindering the growth of this market is the decreasing global sales and production of vehicles.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Note: Product cover images may vary from those shown
A selection of companies mentioned in this report includes:
- ADD Industry (Zhejiang) Corp. Ltd.
- Hitachi Ltd.
- ITT Inc.
- Kobe Suspensions
- LEACREE (Chengdu) Co. Ltd.
- NGK Spark Plug Co. Ltd.
- Showa Corp.
- Tenneco Inc.
- thyssenkrupp AG
- ZF Friedrichshafen AG.
Note: Product cover images may vary from those shown
