Automotive Dampers Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The automotive dampers market share is expected to increase to USD 6.83 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.13%.

This automotive dampers 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 dampers market segmentations by application (passenger vehicles and commercial vehicles) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The automotive dampers market report also offers information on several market vendors, including ANAND Group, Asia America Industrial Manufacturing Inc., Beijing Shougang Co. Ltd., Dexko Global Inc., Duroshox Pvt. Ltd., FAW Dongjigong Shock Absorber Co. Ltd., Festo SE and Co. KG, Freudenberg SE, Hitachi Ltd., ITT Inc., KYB Corp., Mando Corp., Marelli Holdings Co. Ltd., Meritor Inc., MSA DAMPER S.R.L., Parker Hannifin Corp., Tenneco Inc., thyssenkrupp AG, WITTMANN Kunststoffgerate GmbH, and ZF Friedrichshafen AG among others.

What will the Automotive Dampers Market Size be During the Forecast Period?

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Automotive Dampers Market: Key Drivers, Trends, and Challenges

The growth in production volume of passenger vehicles is notably driving the automotive dampers market growth, although factors such as the use of faulty dampers leading to vehicle recalls may impede the 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 dampers industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Dampers Market Driver

• The growth in the production volume of passenger vehicles is one of the key drivers supporting the automotive dampers market growth.
• Automotive dampers are used in almost every type of automobile, though the design may vary from one vehicle to another. Hence, the growth of the global automotive dampers market is directly dependent on the demand for automobiles.
• Dampers form an integral part of an automobile and can be used in the form of a strut-type suspension system or a torsion beam. Moreover, all regions witnessed year-over-year growths in the production volume of passenger vehicles.
• The passenger vehicle segment experienced growth of 26.66% in 2021 amid several challenges, such as semiconductor shortage and partial lockdowns when the second wave of COVID-19 struck. Therefore, the growth in automobile production, such as passenger vehicles across the globe, drives the global automotive dampers market. 

Key Automotive Dampers Market Trend

• Increasing developments in the automotive damper is one of the key automotive dampers market trends contributing to the market growth.
• The intense competition among vendors has resulted in the development of new damper designs. OEMs, along with vendors of suspension systems, are working on the prototype designs of dampers.
• Recently, AUDI revealed a power-generating suspension system, electromechanical rotary dampers (eROT). As per the company, eROT is designed to recover and capture the kinetic energy generated during the movement of dampers. It is like regenerative brake energy, which can harness waste energy generated from the vehicle's movement on the road.
• In March 2022, Tenneco announced that the fourth-generation Mercedes-Benz C-Class would feature its newly-introduced Monroe OE Solutions MCx valving system. The MCx valving architecture increases the performance and tunability of passive dampers. It offers best-in-class comfort and handling as well as an exceptional tuning range for passenger vehicles. Such developments are anticipated to propel the automotive dampers market growth during the forecast period.

Key Automotive Dampers Market Challenge

• The use of faulty dampers leading to vehicle recalls is one of the key factors challenging the automotive dampers market growth. 
• Automotive dampers are an integral part of the suspension system, and their efficient working is important for ensuring optimal performance of the suspension system. However, concerns related to the functioning of dampers have led to vehicle recalls.
• In early 2019, Volkswagen of America Inc. voluntarily recalled 2019-made AUDI (a VW brand) Q7 and Q8 SUVs due to the potential development of cracks in the front shock absorber, which may loosen the shock absorber. This may impair the steering characteristics, leading to a higher probability of on-road collision. The company has reportedly announced to replace the shock absorber fork in all the affected vehicles by notifying the respective owners.
• The recalls not only lead to serious safety concerns but also impact the brand value of the vehicle and the automaker. Also, the cost incurred for repairing or replacing free of charge adds to the cost burden on OEMs. This will have a negative impact on the automotive dampers market growth during the forecast period.

This automotive dampers 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.

Who are the Major Automotive Dampers Market Vendors?

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

 

• ANAND Group
• Asia America Industrial Manufacturing Inc.
• Beijing Shougang Co. Ltd.
• Dexko Global Inc.
• Duroshox Pvt. Ltd.
• FAW Dongjigong Shock Absorber Co. Ltd.
• Festo SE and Co. KG
• Freudenberg SE
• Hitachi Ltd.
• ITT Inc.
• KYB Corp.
• Mando Corp.
• Marelli Holdings Co. Ltd.
• Meritor Inc.
• MSA DAMPER S.R.L.
• Parker Hannifin Corp.
• Tenneco Inc.
• thyssenkrupp AG
• WITTMANN Kunststoffgerate GmbH
• ZF Friedrichshafen AG

 

This statistical study of the automotive dampers market encompasses successful business strategies deployed by the key vendors. The automotive dampers market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Shougang.com - The company offers automotive dampers for all sizes of passenger cars through performance and luxury cars to heavy SUVs and delivery vans.
• Dexko.com - The company offers automotive dampers such as AL KO Octagon axle shock absorbers which improve the drive characteristics and provide optimum damping.
• Duroshox.com - The company offers automotive dampers for two and three wheelers, mini cars, seat shock absorbers, and industrial applications.

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 dampers 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 Dampers Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive dampers 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 Dampers Market?

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58% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the automotive dampers market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The growing demand for luxury or premium vehicles will facilitate the automotive dampers 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 automotive industry in APAC was adversely impacted in 2020 due to the COVID-19 pandemic. However, automobile manufacturing is expected to recover once the COVID-19 pandemic is contained and the chip shortage is settled in the region. Also, companies have been increasing their sales and investing in electric vehicle production owing to supportive government initiatives. Such factors will have a positive impact on the automotive dampers market growth during the forecast period.

What are the Revenue-generating Application Segments in the Automotive Dampers Market?

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The automotive dampers market share growth by the passenger vehicles segment will be significant during the forecast period. Passenger vehicles can be segmented as entry-level, mid-level, and premium or luxury-level vehicles. Based on car body type, passenger vehicles are segmented into hatchbacks, compact sedans, mid-size sedans, and luxury sedans. Different types of dampers are used for different vehicle segments. Automakers consider factors such as vehicle type and the region where the vehicle is sold while choosing dampers for their vehicles. Therefore, it is anticipated that the increasing preference for advanced dampers is likely to contribute to the rise in the adoption of automotive dampers in passenger vehicles.

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

Parent Market Analysis

Technavio categorizes the global automotive dampers 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 dampers market during the forecast period.

Automotive Dampers Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 3.13%
Market growth 2022-2026	$ 6.83 billion
Market structure	Fragmented
YoY growth (%)	2.43
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 58%
Key consumer countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	ANAND Group, Asia America Industrial Manufacturing Inc., Beijing Shougang Co. Ltd., Dexko Global Inc., Duroshox Pvt. Ltd., FAW Dongjigong Shock Absorber Co. Ltd., Festo SE and Co. KG, Freudenberg SE, Hitachi Ltd., ITT Inc., KYB Corp., Mando Corp., Marelli Holdings Co. Ltd., Meritor Inc., MSA DAMPER S.R.L., Parker Hannifin Corp., Tenneco Inc., thyssenkrupp AG, WITTMANN Kunststoffgerate 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.

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What are the Key Data Covered in this Automotive Dampers Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive automotive dampers market growth during the next five years
• Precise estimation of the automotive dampers market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the automotive dampers 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 dampers market vendors

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