Automotive Shock Absorber Market Size, Share, Competitive Insights, Dataset, and Forecasts 2023-2030 | According to RationalStat


The global automotive shock absorber market is projected to reach US$ 19.5 billion by 2030, at a CAGR of 4.4%.

Wilmington, Delaware, Oct. 31, 2023 (GLOBE NEWSWIRE) —

Global Automotive Shock Absorber Market size is valued at US$ 14.4 billion in 2023 and is predicted to rise at a substantial CAGR of 4.4% during the forecast period of 2023 and 2030 according to RationalStat analysis.


Market Definition, Market Scope, and Report Overview

The rapid increase in the adoption of e-mobility in developed nations and the restructuring of the automotive industry in developing nations are likely to propel the demand for vehicle suspension systems globally. The forthcoming generation of electric vehicles with cutting-edge shock absorber technology is anticipated to create significant growth opportunities in the upcoming years.

  • According to a deep-dive market assessment by RationalStat, the automotive shock absorber market has been analyzed on the basis of market segments, including type, application, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
  • Market intelligence for the automotive shock absorber market covers market sizes based on market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
  • In addition, the long-term sector and products/services 10-year outlook and its implications on the automotive shock absorber market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Automotive Shock Absorber Market: Segmental and Market Share Analysis

  • On the basis of the type, twin tube shock absorber is anticipated to capture the major market share due to its simple structure and cost-effectiveness.

Report Synopsis

Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 14.4 billion
Market Size Forecast US$ 19.5 billion
Growth Rate 4.4%
Dominant Segment Twin Tube Shock Absorber
Leading Region Asia Pacific
Key Market Drivers
  • Rising sales of Luxury vehicles
  • Growing adoption of Electric Vehicles
  • Growing preference of Twin Tube Shock absorbers
  • Government Support
  • Increasing demand for safety and comfort
  • Advancement in suspension technology for heavy-duty vehicles
Companies Profiled
  • Gabriel India Limited (Anand Group)
  • Hitachi Astemo Ltd.
  • KYB Corporation
  • Mando Corp.
  • Marelli Holdings Co., Ltd
  • Meritor Inc
  • Tenneco Inc
  • Thyssenkrupp AG
  • ZF Friedrichshafen AG

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Competition Analysis and Market Structure

Some of the prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players, some of the key developments in the automotive shock absorber market include,

  • In November 2022, Apollo announced the acquisition of Tenneco, a leading manufacturer and marketer of automotive products for OEM and aftermarket products.

Some of the prominent players and suppliers operating and contributing significantly to the automotive shock absorber market growth include Gabriel India Limited (Anand Group), Hitachi Astemo Ltd., KONI BV, KYB Corporation, Mando Corp., Marelli Holdings Co., Ltd, Meritor Inc, Tenneco Inc, Thyssenkrupp AG, and ZF Friedrichshafen AG, among others.

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RationalStat has segmented the automotive shock absorber market based on type, application, and region

  • Global Automotive Shock Absorber Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
    • Twin Tube
    • Mono Tube
  • Global Automotive Shock Absorber Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
    • Passenger Vehicle
    • Commercial Vehicle
  • Global Automotive Shock Absorber Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
    • North America Automotive Shock Absorber Market
      • US
      • Canada
    • Latin America Automotive Shock Absorber Market
      • Brazil
      • Mexico
      • Rest of Latin America
    • Western Europe Automotive Shock Absorber Market
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Benelux
      • Nordic
      • Rest of Western Europe
    • Eastern Europe Automotive Shock Absorber Market
      • Russia
      • Poland
      • Hungary
      • Other CIS Countries
      • Rest of Eastern Europe
    • Asia Pacific Automotive Shock Absorber Market
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • ASEAN
        • Indonesia
        • Thailand
        • Philippines
        • Vietnam
        • Malaysia
        • Rest of ASEAN
      • Rest of Asia Pacific
    • Middle East & Africa Automotive Shock Absorber Market
      • GCC
        • Saudi Arabia (KSA)
        • United Arab Emirates (UAE)
        • Rest of the GCC
      • South Africa
      • Nigeria
      • Turkey
      • Rest of the Middle East & Africa

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Key Questions Answered in the Automotive Shock Absorber Report:

  • What will be the market value of the automotive shock absorber market by 2030?
  • What is the market size of the automotive shock absorber market?
  • What are the market drivers of the automotive shock absorber market?
  • What are the key trends in the automotive shock absorber market?
  • Which is the leading region in the automotive shock absorber market?
  • What are the major companies operating in the automotive shock absorber market?
  • What are the market shares by key segments in the automotive shock absorber market?  

Running a Year End Discount of 20%-

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Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoints to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

  • Defining the problem by understanding the type of market and data required by the client.
  • Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
  • Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
  • Evaluating and analyzing the data by referring to data sources utilized and leveraged.
  • Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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