Introduction
The report covers comprehensive information about the Automotive Gas Charged Shock Absorbers market dynamics, volume (‘000 Units) and value (US$ Mn) projections, recent developments and competition landscape for the study period 2018 to 2027.
The global Automotive Gas Charged Shock Absorbers market is expected to reach over US$ 4,529.7 Mn by the end of the forecast period while registering a CAGR of 5.3%. According to the assessment, the demand for Automotive Gas Charged Shock Absorbers is expected to increase over the coming years. National characteristics, such as road conditions and demographics, replacement rates and driver sentiments reflect the pace of the automotive gas charged shock absorbers market.
By Sales Channel Type, OEM Segment Set to Dominate the Market
Increase in automobile sales is boosting the growth of the OEM segment of the automotive gas charged shock absorbers market. In the past, progress used to be mostly driven by the aftermarket demand, which still accounts for a substantial share of the total market demand for automotive gas charged shock absorbers. Further, OEM segment is estimated to account for nearly 64% of the global automotive gas charged shock absorbers market.
Passenger Car Segment Underpins Growth in the Market
Governments’ thrust on infrastructure and macroeconomic environment buoyancy is expected to keep the momentum strong in 2018, subsequently propelling the demand for automotive gas charged shock absorbers in luxury cars and utility vehicles. Additionally, China remains the growth engine for the global passenger cars market. The China passenger car market is still receptive despite the mammoth number of vehicles.
This is expected to increase the demand for automotive gas charged shock absorbers during the forecast period. In terms of volume, passenger cars market in Japan and Europe will augment the demand for automotive shock absorbers.
Product innovation and improving market share are the cited strategies adopted by prominent manufacturers catering the global automotive shock absorbers for passenger car segment. Based on design type, twin segment will spearhead the mono segment in the global gas charged shock absorbers market.
The twin segment is expected to represent US$ 2,335.9 Mn in the market in 2018 and US$ 3,517.2 Mn in 2027 while expanding at a CAGR of 4.7%. Also, the twin segment in the global automotive gas charged shock absorbers market to grow by US$ 236.3 Mn annually over the course of the forecast period and this absolute growth is substantial than the growth of any other segment.
Western Europe and North America to Propel Future Demand
Relatively stable economic conditions, increasing industrial production and steady growth in automotive industry are the key factors expected to drive the growth in demand for Automotive Gas Charged Shock Absorbers in North America and Europe. North America is expected to dominate the global Automotive Gas Charged Shock Absorbers market, in terms of value and volume, during the forecast period.
APEJ is expected to gain traction over the forecast period as a consequence of the anticipated surge in the performance of manufacturing and automotive sectors, whereas all the other regions are expected to exhibit moderate growth during the same period.
Japan and North America are expected to lose market value share, owing to the increase in the production of Automotive Gas Charged Shock Absorbers in ASEAN and India. Japan and North America are forecast to register 4.0% and 4.4% CAGRs, respectively, by value, which is comparatively lower than the collective growth of all the other regions in the automotive gas charged shock absorbers market. Additionally, Europe is anticipated to witness the lion’s share in the automotive gas charged shock absorbers market by the end of 2027.
Automotive Gas Charged Shock Absorbers Market – Competitive Landscape
According to FMI analysis, the global Automotive Gas Charged Shock Absorbers market is primarily consolidated, with a few market players holding a significant market share. In the global Automotive Gas Charged Shock Absorbers market, the top 10 players collectively account for between 55% and 60% of the market share.
In the recent past, the Automotive Gas Charged Shock Absorbers market has been observing significant developments from a competition perspective. Manufacturers of automotive gas charged shock absorbers are focusing on increasing their presence in the aftermarket of South East Asian Countries owing to the prolific opportunities present there. Also, India-based manufacturers are poised to increase exports to developed automotive gas charged shock absorbers markets of North America, Europe, Australia and Asia-Pacific region.
Some of the prominent players covered in this market include Gabriel India Limited, Samvardhana Motherson Group (SMG), , ITT Corporation, Magneti Marelli S.p.A., Tenneco Inc., Meritor, Inc., ZF Friedrichshafen AG, Hitachi Automotive Systems Ltd., Showa Corporation, KYB Corporation, Thyssenkrupp AG, Arnott Inc., ACDelco Inc. Zhejiang Sensen Auto Parts Co., Ltd. etc.
Key Questions Answered in the Report
- How has the Automotive Gas Charged Shock Absorbers market evolved over the past five years?
- What shape will the Automotive Gas Charged Shock Absorbers market take, in terms of volume and value, during the study period?
- What are some of the prevailing market dynamics in the Automotive Gas Charged Shock Absorbers market?
- What are some of the important competition developments and trends in the Automotive Gas Charged Shock Absorbers market?
- What are underlying macro-economic and industry factors impacting the growth of the Automotive Gas Charged Shock Absorbers market?
- Which are the key challenges, opportunities and improvement factors for market players?
- What are the market positioning and key strategies of key manufacturers as per the market taxonomy?
- How is the competition structured in the Automotive Gas Charged Shock Absorbers market at present and how has it evolved over the past few years?
Automotive Gas Charged Shock Absorbers Market: Segmentation
Sales Channel
- OEM
- Aftermarket
Vehicle Type
- Passenger Car
- LCV
- HCV
- Two Wheelers
Design Type
- Twin
- Mono
Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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