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

  • Published: Jun 2022
  • Pages: 137
  • SKU: IRTNTR73783
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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?

Automotive Dampers Market Size

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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?

Automotive Dampers Market Market segmentation by region

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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?

Automotive Dampers Market Segmentation

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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

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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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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 Application
    • 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 Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 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 Application
      • Exhibit 36: Market opportunity by Application ($ 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 Beijing Shougang Co. Ltd.
              • Exhibit 89: Beijing Shougang Co. Ltd. - Overview
              • Exhibit 90: Beijing Shougang Co. Ltd. - Product / Service
              • Exhibit 91: Beijing Shougang Co. Ltd. - Key offerings
            • 10.4 Dexko Global Inc.
              • Exhibit 92: Dexko Global Inc. - Overview
              • Exhibit 93: Dexko Global Inc. - Product / Service
              • Exhibit 94: Dexko Global Inc. - Key offerings
            • 10.5 Duroshox Pvt. Ltd.
              • Exhibit 95: Duroshox Pvt. Ltd. - Overview
              • Exhibit 96: Duroshox Pvt. Ltd. - Product / Service
              • Exhibit 97: Duroshox Pvt. Ltd. - Key offerings
            • 10.6 Hitachi Ltd.
              • Exhibit 98: Hitachi Ltd. - Overview
              • Exhibit 99: Hitachi Ltd. - Business segments
              • Exhibit 100: Hitachi Ltd. - Key news
              • Exhibit 101: Hitachi Ltd. - Key offerings
              • Exhibit 102: Hitachi Ltd. - Segment focus
            • 10.7 ITT Inc.
              • Exhibit 103: ITT Inc. - Overview
              • Exhibit 104: ITT Inc. - Business segments
              • Exhibit 105: ITT Inc. - Key offerings
              • Exhibit 106: ITT Inc. - Segment focus
            • 10.8 KYB Corp.
              • Exhibit 107: KYB Corp. - Overview
              • Exhibit 108: KYB Corp. - Business segments
              • Exhibit 109: KYB Corp. - Key offerings
              • Exhibit 110: KYB Corp. - Segment focus
            • 10.9 Mando Corp.
              • Exhibit 111: Mando Corp. - Overview
              • Exhibit 112: Mando Corp. - Product / Service
              • Exhibit 113: Mando Corp. - Key offerings
            • 10.10 Marelli Holdings Co. Ltd.
              • Exhibit 114: Marelli Holdings Co. Ltd. - Overview
              • Exhibit 115: Marelli Holdings Co. Ltd. - Product / Service
              • Exhibit 116: Marelli Holdings Co. Ltd. - Key news
              • Exhibit 117: Marelli Holdings Co. Ltd. - Key offerings
            • 10.11 Tenneco Inc.
              • Exhibit 118: Tenneco Inc. - Overview
              • Exhibit 119: Tenneco Inc. - Business segments
              • Exhibit 120: Tenneco Inc. - Key news
              • Exhibit 121: Tenneco Inc. - Key offerings
              • Exhibit 122: Tenneco Inc. - Segment focus
            • 10.12 ZF Friedrichshafen AG
              • Exhibit 123: ZF Friedrichshafen AG - Overview
              • Exhibit 124: ZF Friedrichshafen AG - Business segments
              • Exhibit 125: ZF Friedrichshafen AG - Key news
              • Exhibit 126: ZF Friedrichshafen AG - Key offerings
              • Exhibit 127: ZF Friedrichshafen AG - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 128: Inclusions checklist
                • Exhibit 129: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 130: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 131: Research methodology
                • Exhibit 132: Validation techniques employed for market sizing
                • Exhibit 133: Information sources
              • 11.5 List of abbreviations
                • Exhibit 134: 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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              Automotive Dampers Market market growth will increase by $6.83 bn during 2022-2026.
              The automotive dampers market market is expected to grow at a CAGR of 3.13% during 2022-2026.
              Technavio has segmented the automotive dampers market market by application (Passenger vehicles and Commercial vehicles) and geography (APAC, Europe, North America, South America, and Middle East and Africa).
              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 are a few of the key vendors in the automotive dampers market market.
              APAC will register the highest growth rate of 58% among the other regions. Therefore, the automotive dampers market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the automotive dampers market market growth are:
              • Growth in production volume of passenger vehicles
              • Increasing developments in automotive damper
              The automotive dampers 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.
              • What are the key global market and the regional market share?
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              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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