The global shock absorber market was valued at $12.52 billion in 2020, and is projected to reach $21.07 billion in 2030.
Key players operating in the global shock absorber market include Hitachi Astemo Ltd., KONI BV, KYB Corporation, Mando Corp., Marelli Holdings Co., Ltd,Tenneco Inc, Thyssenkrupp AG, and ZF Friedrichshafen AG among others.
The report sample for global shock absorber market report can be obtained on demand from the website
The market is segmented into type, sales channel, vehicle type, and region.
Twin tube is the most commen shock absorber used in vehicles
The company profiles of the top players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top player’s operating in the industry along with their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated
Technological advancements in shock absorbers and advancement of electric vehicles are creating an opportunity for shock absorber market
The shock absorber industry is expected to grow at a CAGR of 4.7% during the forecast period
Asia Pacific is the largest and most lucritive segment in shock absorber market
Shock absorber is a mechanical or hydraulic device intended to soak up shocks by converting kinetic energy of shocks into another sort of energy, which is then dissipated through hydraulic fluid. Shock absorbers, including cushions and springs, are primarily utilized in suspension systems to lessen jerks caused due to rough terrain roads. Shock absorbers decrease the effect of shock and damps impulses on a rough surface or bumpy road.
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