NEW
YORK, July 26, 2024 /PRNewswire/ -- The
global automotive dampers market size is estimated to
grow by USD 4.54 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 2.12% during the forecast period. Growth in production
volume of passenger vehicles is driving market
growth, with a trend towards increasing developments in
automotive damper. However, use of faulty dampers leading to
vehicle recalls poses a challenge. Key market players include 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.
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Automotive Dampers
Market Scope
|
Report
Coverage
|
Details
|
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 2022-2023
(%)
|
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
|
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 Driver
The global automotive dampers market is experiencing notable
trends, including the adoption of electromechanical rotary damper
designs. Vendors are developing new damper models to gain a
competitive edge. For instance, Audi introduced eROT, an
electromechanical rotary damper system that recovers kinetic energy
during damper movement. This energy recovery system, similar to
regenerative braking, can harness wasted energy from vehicle
motion. Tenneco also announced the integration of its Monroe OE
Solutions MCx valving system in the fourth-generation Mercedes-Benz
C-Class. This advanced architecture enhances damper performance and
tunability, providing superior comfort and handling. The focus on
energy recuperation is a significant trend in damper technology,
with companies continually innovating to optimize vehicle
performance and efficiency.
The Automotive Dampers Market is witnessing significant growth
due to increasing trends in vehicle safety and smooth ride
experience. Dampers, also known as shock absorbers, are essential
mechanical components of a vehicle's suspension system. They
control the suspension movement by absorbing kinetic energy
generated during suspension travel, ensuring better road handling
and stability. Automotive dampers are used in various types of
vehicles, including motorcycles and Light Commercial Vehicles
(LCVs). The market is segmented based on types, such as Twin-tube
and Mono-tube, and technologies, including Hydraulic and Pneumatic.
Safety is a key factor driving market growth, as dampers help
reduce body roll, pitch, yaw, and improve turn-off response and
vehicle cornering stability. Additionally, the expansion of cities
and longer daily travel lengths have increased the demand for
vehicles with better suspension control and ride quality.
Aerodynamic drag and road stress are significant challenges for the
automotive dampers market. However, advancements in materials and
technologies, such as the use of ports or valves for controlling
resistance and energy, are addressing these challenges. The market
is expected to continue growing due to the increasing sales volume
of vehicles and the need for improved vehicle performance and
suspension control.
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Market Challenges
- The automotive damper market plays a crucial role in ensuring
the optimal performance of a vehicle's suspension system. However,
concerns regarding the efficient functioning of dampers have led to
several recalls in recent years. In early 2019, Volkswagen of
America Inc. Voluntarily recalled certain 2019 Audi Q7 and Q8 SUVs
due to potential cracks in the front shock absorber. This issue may
result in a loss of steering control, increasing the risk of
on-road collisions. In 2018, Volkswagen also recalled certain 2018
Volkswagen Tiguan models with long-wheelbases due to a potential
detachment of the lower portion of the rear shock absorber. This
defect could lead to a loss of control over the vehicle, posing
serious safety concerns. Such recalls not only impact the safety of
the vehicles but also incur additional costs for OEMs. The expenses
include the cost of repairing or replacing the faulty components,
as well as potential liability-sharing concerns between the
automaker and the vendor. These reliability issues present a
significant challenge to the growth of the automotive damper
market.
- The Automotive Dampers Market faces several challenges in
providing optimal vehicle performance and ride quality. One
challenge is the turn-off response, which affects the vehicle's
stability during quick maneuvers. Another challenge is vehicle
cornering stability, which requires effective damping to prevent
body roll, pitch, and yaw. Two common damper types are Twin-tube
and Mono-tube, each with unique advantages. Hydraulic and Pneumatic
types also exist, offering various benefits. The focus on vehicle
performance and suspension control drives demand for advanced
damper systems, such as Electronic Damper Systems. Ride quality,
comfort, and road shocks are key concerns for occupants. Dampers
are used in various vehicle segments, including passenger vehicles,
bikes, and light moving vehicles. OEMs are integrating electronics
systems, such as anti-roll bars, electronic control units, and
linear electrical engines, to enhance damper performance. The
market for automotive suspension systems, including dampers and
anti-roll bars, is growing due to the increasing demand for
lightweight vehicles, fuel-efficient vehicles, and reduced
emissions. The integration of electronics and connected car
services is also a significant trend. In summary, the Automotive
Dampers Market faces challenges in delivering optimal turn-off
response and cornering stability. Advanced damper technologies,
such as Electronic Damper Systems, and the integration of
electronics and connected car services are driving growth in the
market.
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Segment Overview
This automotive dampers market report extensively covers market
segmentation by
- Application
- 1.1 Passenger vehicles
- 1.2 Commercial vehicles
- Geography
- 2.1 APAC
- 2.2 Europe
- 2.3 North America
- 2.4 South America
- 2.5 Middle East and
Africa
1.1 Passenger vehicles- The Automotive Dampers Market
refers to the industry that manufactures and supplies shock
absorbers and strut assemblies for vehicles. These components help
maintain optimal ride comfort and handling by controlling the
suspension system's movement. Major players in this market include
ZF Friedrichshafen AG, ThyssenKrupp AG, and NSK Ltd. Market growth
is driven by increasing vehicle production and demand for improved
vehicle performance and safety.
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analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
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The global automotive aftermarket shock absorbers market is
poised for significant growth, driven by increasing vehicle
ownership and the rising demand for vehicle performance
enhancements. The market for automotive shock absorber rubber is
also expanding, as it plays a crucial role in enhancing vehicle
safety and comfort. Meanwhile, the global automotive battery
testers market is experiencing a surge in demand, spurred by the
growing emphasis on battery maintenance and vehicle
electrification. Together, these markets reflect a broader trend
towards improving automotive safety, performance, and
reliability.
Research Analysis
The Automotive Dampers Market refers to the industry that
produces and supplies shock absorbers and suspension systems for
various types of vehicles, including bikes, light moving vehicles,
and passenger cars. These mechanical components play a crucial role
in ensuring safety and comfort by controlling the suspension
movement and absorbing kinetic and thermal energy caused by road
shocks. Automotive dampers are essential parts of the suspension
system, working in tandem with springs and anti-roll bars to
maintain vehicle stability during movement. They help reduce
aerodynamic drag on highways and expressways, improve vehicle
handling, and enhance ride comfort. Modern dampers come in various
forms, such as electronic dampers, which use electronic control
units and linear electrical engines to adjust damping force in
real-time based on wheel motions and driving conditions.
Lightweight vehicles and luxury cars often employ advanced damper
technologies to optimize performance and fuel efficiency. Connected
car services enable remote monitoring and diagnostics of damper
systems, ensuring optimal performance and reducing maintenance
costs. The market for automotive dampers continues to grow due to
increasing demand for comfort, safety, and performance in the bike
segment and passenger vehicle market.
Market Research Overview
The Automotive Dampers Market refers to the industry that
produces and supplies automotive components designed to manage
suspension movement and absorb shock during vehicle operation.
These mechanical components, which include pistons and cylinders,
help convert kinetic energy from road stress into thermal energy,
reducing the impact on passengers and improving vehicle safety.
Automotive dampers are essential for various vehicle types,
including motorcycles and Light Moving Vehicles (LMVs), and are
used in suspension systems to ensure a smooth ride on highways and
expressways. They come in different types, such as Twin-tube and
Mono-tube, Hydraulic and Pneumatic, and Electronic Damper Systems.
These dampers play a crucial role in vehicle performance, ride
quality, stability, handling qualities, and body roll, pitch, and
yaw control. The market for automotive dampers is driven by factors
such as daily travel lengths, expansion of cities, and the need for
comfortable and fuel-efficient vehicles. The industry also benefits
from advancements in electronics systems, connected car services,
and the increasing demand for luxury cars.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Passenger Vehicles
- Commercial Vehicles
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
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technologies, spanning across 50 countries. Their client base
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Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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