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Automotive Shock Absorber Market Share

Report ID: GMI5603
Published Date: Mar 2024
Report Format: PDF

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Automotive Shock Absorber Market Share

Automotive shock absorber industry seems to be highly fragmented in nature due to presence of numerous local and global players across the globe. In 2023, the above list of dominant companies collectively held around 15%-20% market share. These prominent players are proactively involved in strategic endeavors, such as mergers & acquisitions, facility expansions & collaborations, to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position.

Automotive Shock Absorber Market Companies

Major companies operating in the automotive shock absorber industry are:

Apollo
Arnott Inc.
Bilstein
Duro Shox Pvt. Ltd.
Gabriel India Ltd.
Hitachi
ITT Corporation
KYB Group
Magneti Marelli SPA
Mando Corporation
Meritor Inc.
Sachs
Showa Corporations
Tenneco Inc.
Thyssenkrupp AG

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive shock absorber reached USD 15 billion in 2023 and is set to witness 4.5% CAGR between 2024 and 2032, owing to higher vehicle production, growing demand for enhanced vehicle comfort and stability, and stringent regulations regarding vehicle safety standards.

The hydraulic type segment reached a revenue of USD 10 billion in 2023, due to their cost-effectiveness compared to advanced technologies.

North America market size was USD 3 billion in 2023, led by the strong preference for light trucks, SUVs, and crossovers.

Some of the major automotive shock absorber firms are Apollo, Arnott Inc., Bilstein, Duro Shox Pvt. Ltd., Gabriel India Ltd., Hitachi, ITT Corporation, KYB Group, Magneti Marelli SPA, Mando Corporation, Meritor Inc., and Sachs.