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The automotive dampers market size is forecast to increase by USD 4.54 billion, at a CAGR of 2.12% between 2023 and 2028. The production volume of passenger vehicles is on the rise, driven by increasing demand for comfort and convenience. This trend is supported by the growing adoption of efficient materials in dampers, enhancing vehicle performance and ride quality. As passenger vehicle manufacturing expands, so does the emphasis on integrating advanced technologies and materials to meet consumer expectations for smoother, quieter rides and improved fuel efficiency. This evolution underscores a pivotal shift towards sustainable and innovative solutions in automotive design and production. With heightened consumer awareness and evolving regulatory standards, the automotive industry continues to innovate, ensuring that future vehicles not only meet but exceed performance and comfort expectations. The report provides market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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The market encompasses mechanical components essential for the suspension system of passenger vehicles and bikes. These dampers, which include shock absorbers and electronic dampers, mitigate kinetic energy during suspension movement, ensuring a smooth ride. Aerodynamic drag is minimized through the optimization of damper designs, enhancing fuel efficiency and reducing thermal energy consumption on highways and expressways. Lightweight vehicles, such as bikes and luxury cars, benefit significantly from advanced damper technologies. Suspension systems, comprising dampers, springs, and anti-roll bars, absorb road shocks, ensuring vehicle stability and safety. Electronic control units and linear electrical engines facilitate the integration of electronic dampers, providing improved performance and precision. The market for automotive suspension systems continues to evolve, with the integration of modules and wheel motions, offering enhanced comfort and control. The development of connected car services further expands the potential applications of dampers, ensuring a seamless driving experience.
Major Market Challenge
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Dexko Global Inc. - The company offers automotive dampers such as AL KO Octagon axle shock absorbers which improve the drive characteristics and provide optimum damping.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The passenger vehicles segment is estimated to witness significant growth during the forecast period. The market encompasses mechanical components designed to ensure the safety and optimal performance of vehicles by managing Suspension movement and absorbing Kinetic and Thermal energy. These dampers are integral to the Suspension system, functioning as Shock absorbers that mitigate Road stress and Spring vibrations. Aerodynamic drag is minimized through the design of these parts, contributing to improved Vehicle performance and Ride quality. Highways and expressways witness increased daily travel lengths due to the Expansion of cities, necessitating vehicles with superior Suspension control and stability.
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The passenger vehicles segment accounted for USD 22.15 billion in 2018. Mechanical energy is harnessed during Suspension movement, with the Piston and Cylinder working in tandem to provide resistance and absorb Energy. The heat generated during operation is managed through efficient design, maintaining optimal performance and reducing the risk of damage. Control arms, Axles, and Ports or valves are essential parts of the Suspension system, all working together to ensure smooth Ride handling and stable Vehicle cornering stability. Twin-tube and Mono-tube Types, as well as Hydraulic, Pneumatic, and other damping technologies, cater to various vehicle classes, including Motorcycles and Light Commercial Vehicles (LMVs). The Chassis benefits from the integration of these dampers, enhancing Vehicle safety and providing a more comfortable ride experience, even on Uneven surfaces. Ride handling and Turn-off response are significantly improved, ensuring a stable and predictable driving experience.
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APAC is estimated to contribute 53% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market encompasses mechanical components designed to ensure the safety and optimal performance of vehicles by managing Suspension movement and absorbing Kinetic and Thermal energy. These dampers are integral to the Suspension system, functioning as Shock absorbers that mitigate Road stress and Spring vibrations. Aerodynamic drag is minimized through the design of these parts, contributing to improved Vehicle performance and Ride quality. Further, twin-tube and Mono-tube Types, as well as Hydraulic, Pneumatic, and other damping technologies, cater to various vehicle classes, including Motorcycles and Light Commercial Vehicles (LMVs). The Chassis benefits from the integration of these dampers, enhancing Vehicle safety and providing a more comfortable Ride experience, even on Uneven surfaces. Ride handling and Turn-off response are significantly improved, ensuring a stable and predictable driving experience.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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The market plays a significant role in the vehicle suspension system, ensuring optimal ride comfort and handling performance. These components absorb shocks and vibrations generated during vehicle operation, enhancing safety and reducing wear and tear on other vehicle parts. The Automotive Dampers market is driven by factors such as increasing vehicle production and sales, growing demand for premium vehicles, and stringent safety regulations. Advanced technologies like electronically controlled dampers and adaptive damping systems are gaining popularity due to their ability to provide customized damping performance based on road conditions and driving styles. The market is expected to grow steadily due to the increasing adoption of these advanced technologies and the rising demand for fuel-efficient and eco-friendly vehicles. Key players in the market focus on innovation and product development to cater to evolving customer preferences and regulatory requirements.
Market Scope |
|
Report Coverage |
Details |
Page number |
151 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.12% |
Market growth 2024-2028 |
USD 4.54 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.06 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 53% |
Key countries |
China, US, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ANAND Group, Asia America Industrial Manufacturing Inc., Beijing Shougang Co. Ltd., Cummins Inc., Dexko Global Inc., Duroshox Pvt. Ltd., FAW Dongjigong Shock Absorber Co. Ltd., Festo SE and Co. KG, Freudenberg and Co. KG, Hitachi Ltd., HL Mando Co. Ltd., ITT Inc., KYB Corp., Marelli Holdings Co. Ltd., MSA DAMPER S.R.L., Parker Hannifin Corp., Tenneco Inc., thyssenkrupp AG, WITTMANN Technology GmbH, 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 |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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