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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%.
The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by vehicle type (passenger vehicles and commercial vehicles) and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The 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.
shougang.com - Under the unified segment, the company has developed into a large-sized enterprise group centring on iron and steel and concurrently running businesses in mineral resources, the environment, static traffic, equipment manufacturing, construction and real estate, productive services, and overseas industries in a cross-industry, trans-regional, cross-ownership and transnational manner.
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Technavio categorizes the global market shock absorbers market as a part of the global auto parts and equipment market. Our research report extensively covers 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.
Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The ageing vehicle fleet with a high number of in-use vehicles is notably driving the shock absorbers market growth, although factors such as decreasing global sales and production of vehicles may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Automotive Aftermarket Shock Absorbers Market Driver
Key Automotive Aftermarket Shock Absorbers Market Challenge
This market 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.
Our In-house experts produce extensive information on the value chain and parent market of the automotive aftermarket shock absorbers market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.
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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.
The improved and stabilized socioeconomic conditions in APAC countries, especially China and India, are contributing to the growth of the automotive industry in this region. A large consumer base with increasing per capita income and the ease of availing of financing services have been fueling the demand for passenger and commercial vehicles in the region. The growing demand for e-commerce logistics and the expansion of the construction sector and the mining industry are the primary factors driving the growth of commercial vehicles in APAC. This 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.
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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 the post-COVID-19 impact on each segment.
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Automotive Aftermarket Shock Absorbers Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.25% |
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Market growth 2022-2026 |
USD 2.59 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
3.59 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 51% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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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 |
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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 |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Vehicle Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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