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Automotive Aftermarket Shock Absorbers Market by Vehicle Type and Geography - Forecast and Analysis 2022-2026

  • Published: Jun 2022
  • Pages: 120
  • SKU: IRTNTR40186
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The automotive aftermarket shock absorbers market share is expected to increase to USD 2.59 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.25%.

This automotive aftermarket shock absorbers market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive aftermarket shock absorbers market segmentation by vehicle type (passenger vehicles and commercial vehicles) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The automotive aftermarket shock absorbers market report also offers information on several market vendors, including ALOIS KOBER GmbH, ADD Industry Zhejiang Corp. Ltd., ANAND Group, Arnott LLC, Beijing Shougang Co. Ltd., Dorman Products Inc., Festo SE and Co. KG, Hitachi Ltd., ITT Inc., KYB Corp., MAPCO Autotechnik GmbH, MEYLE AG, Robert Bosch GmbH, Roberto Nuti spa, SUSPA GmbH, Taylor Devices Inc., Tein Inc., Tenneco Inc., thyssenkrupp AG, and ZF Friedrichshafen AG among others.

What will the Automotive Aftermarket Shock Absorbers Market Size be During the Forecast Period?

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Automotive Aftermarket Shock Absorbers Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The aging vehicle fleet with a high number of in-use vehicle is notably driving the automotive aftermarket shock absorbers market growth, although factors such as decreasing global sales and production of vehicles may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive aftermarket shock absorbers industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Aftermarket Shock Absorbers Market Driver

  • One of the key factors driving the global automotive aftermarket shock absorbers market growth is the aging vehicle fleet with a high number of the in-use vehicle.
  • In the US, the average age of light vehicles increased by almost 23% between 2002 and 2021 and is expected to reach an average of 12 years in the coming years.
  • The average age of passenger vehicles in the EU has increased by 5.71% between 2011 and 2021.
  • The higher the vehicle age greater the wearing out of vehicle components, and they should be replaced to achieve optimum in-vehicle safety and comfort.
  • The number of in-use vehicles is anticipated to increase gradually in the coming years, and it is likely to be driven by countries from APAC and South America.
  • The average age of vehicles in APAC and South America is likely to increase rapidly during the forecast period, which will further drive the market growth.

Key Automotive Aftermarket Shock Absorbers Market Trend

  • Auto component manufacturers shift towards selective alliances is one of the key automotive aftermarket shock absorbers market trends that is expected to impact the industry positively in the forecast period.
  • Companies such as Apple Inc., Google LLC, and Uber Technologies Inc. are penetrating firms in the automotive industry that offers innovative, connected, and autonomous solutions.
  • To compete with the giant companies, existing vendors are forming alliances with other companies to access their critical talent and innovations.
  • Consumers and vehicle manufacturers also have shifted towards electrified and connected mobility, and this has encouraged numerous start-up companies to enter the global market with innovative technological and manufacturing solutions, which are being acquired by existing auto giants to accelerate their growth.
  • India-based EV rental company eBikeGo acquired Kustard Tech for USD 2 million in November 2021. 

Key Automotive Aftermarket Shock Absorbers Market Challenge

  • One of the key challenges to the global automotive aftermarket shock absorbers market growth is the decreasing global sales and production of vehicles.
  • The low demand and sales is attributed to changing emission norms, rising fuel prices, and the announcement of a ban on diesel-powered cars.
  • In April 2022, global passenger car sales decreased by 23.3% compared with 2021.
  • Major markets for vehicle sales such as the US, witnessed a considerable decline in vehicle sales in the first half of 2020, owing to the impact of COVID-19.
  • A significantly high motorization rate in North America and Europe, an increase in tariffs on imported vehicles by the US and China, and the ongoing war between Ukraine and Russia are likely to decrease the sales of vehicles in the coming years.
  • Stellantis N.V, a multinational carmaker, temporarily suspended car manufacturing in Russia in April 2022 due to logistical challenges induced by the ongoing war between Russia and Ukraine.
  • The current decline in vehicle sales and production would hamper the market growth in the forecast period.

This automotive aftermarket shock absorbers market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global automotive aftermarket shock absorbers market as a part of the global auto parts and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive aftermarket shock absorbers market during the forecast period.

Who are the Major Automotive Aftermarket Shock Absorbers Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ALOIS KOBER GmbH
  • ADD Industry Zhejiang Corp. Ltd.
  • ANAND Group
  • Arnott LLC
  • Beijing Shougang Co. Ltd.
  • Dorman Products Inc.
  • Festo SE and Co. KG
  • Hitachi Ltd.
  • ITT Inc.
  • KYB Corp.
  • MAPCO Autotechnik GmbH
  • MEYLE AG
  • Robert Bosch GmbH
  • Roberto Nuti spa
  • SUSPA GmbH
  • Taylor Devices Inc.
  • Tein Inc.
  • Tenneco Inc.
  • thyssenkrupp AG
  • ZF Friedrichshafen AG

 

This statistical study of the automotive aftermarket shock absorbers market encompasses successful business strategies deployed by the key vendors. The automotive aftermarket shock absorbers market is fragmented and the vendors are deploying growth strategies such as M&A activities to compete in the market.

Product Insights and News

  • Hitachi Ltd. - The company offers automotive aftermarket shock absorbers such as Non-Gas-Pressurized Type, Gas pressurized Type, and High Functional Type bases.
  • Hitachi Ltd. - Through the IT segment, the company offers products and services such as consulting, cloud systems, software, and others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive aftermarket shock absorbers market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Aftermarket Shock Absorbers Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive aftermarket shock absorbers market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Automotive Aftermarket Shock Absorbers Market?

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51% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for automotive aftermarket shock absorbers in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Low labor costs and availability of skilled labor, and a large consumer base across the region are likely to boost the production of vehicles in APAC, which will facilitate the automotive aftermarket shock absorbers market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The impact of COVID-19 had a negative influence on the regional automobile industry in 2020. Due to the closure of a large number of vehicle manufacturing enterprises, the production of auto vehicles and other auto auxiliary products in this region declined in 2020. As a result, the rise in COVID-19 cases in 2020 had a negative impact on vehicle sales in this region. However, in 2021, the success of vaccination campaigns across the region, as well as increased investment in the auto sector, enabled the plants and service units to reopen and resume operations, further leading to a surge in demand for automobile aftermarket shock absorbers in APAC. As a result, the market in focus will expand faster in this region during the forecast period.

What are the Revenue-generating Vehicle Type Segments in the Automotive Aftermarket Shock Absorbers Market?

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The automotive aftermarket shock absorbers market share growth by the passenger vehicle segment will be significant during the forecast period. The passenger car segment of the market in focus is anticipated to be primarily driven by the growing demand for EVs and SUVs across the globe. Apart from SUVs, the demand for EVs is consistently increasing across the globe. Stringent emission norms, the announcement related to the banning of diesel-powered vehicles, the introduction of low-cost EV models, and government incentivizing schemes for EVs coupled with investment in EV charging infrastructure development are propelling the global sales of these vehicles. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive aftermarket shock absorbers market size and actionable market insights on post COVID-19 impact on each segment.

 

Automotive Aftermarket Shock Absorbers Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.25%

Market growth 2022-2026

$ 2.59 billion

Market structure

Fragmented

YoY growth (%)

3.59

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 51%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ALOIS KOBER GmbH, ADD Industry Zhejiang Corp. Ltd., ANAND Group, Arnott LLC, Beijing Shougang Co. Ltd., Dorman Products Inc., Festo SE and Co. KG, Hitachi Ltd., ITT Inc., KYB Corp., MAPCO Autotechnik GmbH, MEYLE AG, Robert Bosch GmbH, Roberto Nuti spa, SUSPA GmbH, Taylor Devices Inc., Tein Inc., Tenneco Inc., thyssenkrupp AG, and ZF Friedrichshafen AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Automotive Aftermarket Shock Absorbers Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive automotive aftermarket shock absorbers market growth during the next five years
  • Precise estimation of the automotive aftermarket shock absorbers market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive aftermarket shock absorbers industry across APAC, Europe, North America, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive aftermarket shock absorbers market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Vehicle Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Vehicle Type

    • 5.1 Market segments
      • Exhibit 24: Chart on Vehicle Type - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Vehicle Type - Market share 2021-2026 (%)
    • 5.2 Comparison by Vehicle Type
      • Exhibit 26: Chart on Comparison by Vehicle Type
      • Exhibit 27: Data Table on Comparison by Vehicle Type
    • 5.3 Passenger vehicles - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Passenger vehicles - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Passenger vehicles - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Passenger vehicles - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Passenger vehicles - Year-over-year growth 2021-2026 (%)
    • 5.4 Commercial vehicles - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Commercial vehicles - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Commercial vehicles - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Commercial vehicles - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Commercial vehicles - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Vehicle Type
      • Exhibit 36: Market opportunity by Vehicle Type ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 Japan - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.11 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.12 UK - Market size and forecast 2021-2026
      • Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 ADD Industry Zhejiang Corp. Ltd.
              • Exhibit 89: ADD Industry Zhejiang Corp. Ltd. - Overview
              • Exhibit 90: ADD Industry Zhejiang Corp. Ltd. - Product / Service
              • Exhibit 91: ADD Industry Zhejiang Corp. Ltd. - Key offerings
            • 10.4 Hitachi Ltd.
              • Exhibit 92: Hitachi Ltd. - Overview
              • Exhibit 93: Hitachi Ltd. - Business segments
              • Exhibit 94: Hitachi Ltd. - Key news
              • Exhibit 95: Hitachi Ltd. - Key offerings
              • Exhibit 96: Hitachi Ltd. - Segment focus
            • 10.5 ITT Inc.
              • Exhibit 97: ITT Inc. - Overview
              • Exhibit 98: ITT Inc. - Business segments
              • Exhibit 99: ITT Inc. - Key offerings
              • Exhibit 100: ITT Inc. - Segment focus
            • 10.6 KYB Corp.
              • Exhibit 101: KYB Corp. - Overview
              • Exhibit 102: KYB Corp. - Business segments
              • Exhibit 103: KYB Corp. - Key offerings
              • Exhibit 104: KYB Corp. - Segment focus
            • 10.7 MEYLE AG
              • Exhibit 105: MEYLE AG - Overview
              • Exhibit 106: MEYLE AG - Product / Service
              • Exhibit 107: MEYLE AG - Key offerings
            • 10.8 Robert Bosch GmbH
              • Exhibit 108: Robert Bosch GmbH - Overview
              • Exhibit 109: Robert Bosch GmbH - Business segments
              • Exhibit 110: Robert Bosch GmbH - Key news
              • Exhibit 111: Robert Bosch GmbH - Key offerings
              • Exhibit 112: Robert Bosch GmbH - Segment focus
            • 10.9 Roberto Nuti spa
              • Exhibit 113: Roberto Nuti spa - Overview
              • Exhibit 114: Roberto Nuti spa - Product / Service
              • Exhibit 115: Roberto Nuti spa - Key offerings
            • 10.10 Tenneco Inc.
              • Exhibit 116: Tenneco Inc. - Overview
              • Exhibit 117: Tenneco Inc. - Business segments
              • Exhibit 118: Tenneco Inc. - Key news
              • Exhibit 119: Tenneco Inc. - Key offerings
              • Exhibit 120: Tenneco Inc. - Segment focus
            • 10.11 thyssenkrupp AG
              • Exhibit 121: thyssenkrupp AG - Overview
              • Exhibit 122: thyssenkrupp AG - Business segments
              • Exhibit 123: thyssenkrupp AG - Key news
              • Exhibit 124: thyssenkrupp AG - Key offerings
              • Exhibit 125: thyssenkrupp AG - Segment focus
            • 10.12 ZF Friedrichshafen AG
              • Exhibit 126: ZF Friedrichshafen AG - Overview
              • Exhibit 127: ZF Friedrichshafen AG - Business segments
              • Exhibit 128: ZF Friedrichshafen AG - Key news
              • Exhibit 129: ZF Friedrichshafen AG - Key offerings
              • Exhibit 130: ZF Friedrichshafen AG - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 131: Inclusions checklist
                • Exhibit 132: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 133: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 134: Research methodology
                • Exhibit 135: Validation techniques employed for market sizing
                • Exhibit 136: Information sources
              • 11.5 List of abbreviations
                • Exhibit 137: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The automotive aftermarket shock absorbers market market growth will increase by $$ 2.59 billion during 2023-2026.
              The automotive aftermarket shock absorbers market market is expected to grow at a CAGR of 4.25% during 2023-2026.
              Technavio has segmented the automotive aftermarket shock absorbers market market by other 1 (Passenger vehicles and Commercial vehicles) and geography (APAC, Europe, North America, South America, and Middle East and Africa).
              ALOIS KOBER GmbH, ADD Industry Zhejiang Corp. Ltd., ANAND Group, Arnott LLC, Beijing Shougang Co. Ltd., Dorman Products Inc., Festo SE and Co. KG, Hitachi Ltd., ITT Inc., KYB Corp., MAPCO Autotechnik GmbH, MEYLE AG, Robert Bosch GmbH, Roberto Nuti spa, SUSPA GmbH, Taylor Devices Inc., Tein Inc., Tenneco Inc., thyssenkrupp AG, ZF Friedrichshafen AG are a few of the key vendors in the automotive aftermarket shock absorbers market market.
              APAC will register the highest growth rate of 51% among the other regions. Therefore, the automotive aftermarket shock absorbers market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the automotive aftermarket shock absorbers market market growth are:
              • Aging vehicle fleet with a high number of in-use vehicle
              • Auto component manufacturers shift towards selective alliances
              The automotive aftermarket shock absorbers market market vendors should focus on grabbing business opportunities from the passenger vehicles segment as it accounted for the largest market share in the base year.
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