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Off-Road Vehicle Shock Absorber Market Share

Report ID: GMI11174
Published Date: Sep 2024
Report Format: PDF

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Off-Road Vehicle Shock Absorber Market Share

Fox and KYB are the major market players operating in the global off-road vehicle shock absorber industry accounting for over 30% of market share in 2023. Fox Factory, Inc. remains competitive in the off-road vehicle shock absorber market by continually innovating and offering high-performance suspension systems.

The company focuses on advanced technologies such as adjustable damping and electronically controlled shocks, catering to both recreational and competitive off-road enthusiasts. Fox Factory's strong brand reputation, combined with strategic partnerships with leading automotive OEMs and participation in motorsports events, helps maintain its market position. Additionally, the company's commitment to quality and durability ensures customer loyalty and expands its market reach globally.

KYB Corporation stays competitive in the off-road vehicle shock absorber market by leveraging its extensive experience in automotive suspension systems and focusing on high-quality, reliable products. The company invests heavily in research and development to introduce advanced shock absorber technologies, such as hydraulic and electronic control systems, tailored to off-road vehicle requirements. KYB's strong global distribution network and partnerships with leading vehicle manufacturers help secure its position in the market. Their commitment to continuous innovation and customer satisfaction drives growth and competitiveness in this sector.

Off-Road Vehicle Shock Absorber Market Companies

Major players operating in the off-road vehicle shock absorber industry are:

Bilstein (ThyssenKrupp AG)
Fox Factory, Inc.
ICON Vehicle Dynamics
King Shocks
Koni (ITT Corporation)
KYB Corporation
Monroe (Tenneco Inc.)
Öhlins Racing AB
Rancho (Tenneco Inc.)
Walker Evans Racing

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of off-road vehicle shock absorber reached USD 17.3 billion in 2023 and will exhibit a 6.5% CAGR from 2024 to 2032, attributed to increasing demand for off-road vehicles in recreational activities, agriculture, and construction.

The OEM segment captured 64% share in 2023, owing to the rising production of off-road vehicles and the growing demand for high-quality, factory-installed components.

North America market achieved 70% share in 2023, driven by high demand for off-road vehicles in recreational, agricultural, and industrial applications.

Prominent players operating in the market are Bilstein (ThyssenKrupp AG), Fox Factory, Inc., ICON Vehicle Dynamics, King Shocks, Koni (ITT Corporation), KYB Corporation, Monroe (Tenneco Inc.), Öhlins Racing AB, Rancho (Tenneco Inc.), and Walker Evans Racing, among others.