Industrial Shock Absorbers Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Industrial Shock Absorbers Market Outlook - 2027

Industrial shock absorbers are the devices that are hydraulically driven and are used to minimize the vibrations on moving objects. These devices also help to minimize the noise levels from machinery, increase process speed, production quality, and durability of production facilities. These devices convert the kinetic energy to thermal energy and the motion is applied to the shock absorber by the piston. This pressurizes the fluid inside the shock absorber and forces it to flow through the restricted orifices, which causes the fluid to gain heat and the thermal energy is passed to the cylinder body and it is exerted into the atmosphere. The industrial shock absorbers reduce the vibrations and shocks from the machinery and reduce the machine damage, which eventually reduces the downtime and maintenance costs as well.

COVID-19 Scenario analysis:

• COVID-19 pandemic has shut-down the production of various products in the industrial shock absorbers industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of industrial shock absorbers market significantly from last few months, as is likely to continue during 2020.
• COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Drivers, restraints, and opportunities

The growing material handling and packaging industry worldwide is a major factor that is expected to drive the growth of the industrial shock absorbers market. Besides, manufacturers endeavor to multiply the productivity by operating their machines at a higher speed that results in increased noise levels, and also affects the safety and reliability of the machines, which can be countered by using industrial shock absorbers. This factor can potentially fuel the growth of the industrial shock absorbers market. Moreover, growing demand from end-use industries such as pharmaceutical, medical, factory automation, and others can boost the growth of the industrial shock absorbers market. However, industrial shock absorbers break down after a certain period, therefore they require regular checking and maintenance, which is a restraining factor for the market growth. On the contrary, manufacturers focusing on implementing automation production processes across various industries are anticipated to provide lucrative growth opportunities for the industrial shock absorbers market during the forecast period.

Trends in the industrial shock absorbers market

Manufacturers in the industrial shock absorbers market are focusing on new product developments with advanced features to differentiate their products from others in the market. For instance, in 2017, WDS Components Parts Ltd., a U.K. based company launched adjustable and self-compensating industrial shock absorbers. This device is designed to enhance product handling in automated package handling and manufacturing applications. Also, it is designed to gradually and smoothly decelerate the movement of the machine components without and bounce-back. WDS industrial shock absorbers are sealed for life and are maintenance-free. Besides, they are available in two variations, self-compensating and adjustable that come in a range of capacities and sizes. These shock absorbers have a robust steel design provided with rubber end caps and they can work in a temperature range from -10°C to 85°C with a stroke length variation from 15mm to 50mm. Such new advanced products offered by key market players can create a significant positive impact on the growth of the industrial shock absorbers market in the upcoming years. 

Growing demand for comfort and luxury in automobiles

Growing preference for premium and luxury vehicles has dramatically increased over the past few years due to factors such as changing lifestyles, increased purchase power, expansion of the middle class, and increasing disposable income of the customers. As a result, there has been an increasing demand for comfort in new automobile designs. Comfort providing elements such as heater technology and shock absorbers are being widely installed in an array of vehicles such as passenger cars, light vehicles, agricultural vehicles, and premium two-wheelers. Growing demand for the comfort equipment from the automobile industry can be augmented for the positive growth of the industrial shock absorbers market in the upcoming years.

Key benefits of the report:

• This study represents the analytical representation of the global industrial shock absorbers market combined with the ongoing trends and future predictions to determine investment opportunities.
• The present market is thoroughly analyzed to enlighten the industrial shock absorbers market growth.
• The report gives information regarding the important drivers, restraints, and opportunities provided with an in-depth analysis of the global industrial shock absorbers market.
• Segmentation details of the global industrial shock absorbers market.
• The report gives a comprehensive global industrial shock absorbers market analysis based on competitiveness and how the performance of the competitors will take shape in the coming years. 

 Industrial Shock Absorbers Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights