The market for Automotive Gas Charged Shock Absorbers Market is expected to reach USD$ 3.06 Bn in 2027.
Globally, the automotive gas-charged shock absorbers market was valued at US$ 3.06 Bn in 2018, growing at a CAGR of 6.0% during the forecast period from 2019 to 2027, starting from 2018. Automotive gas-charged shock absorbers are defined as a sort of hydraulic pump device which is used in vehicles to control the effect and rebound movement of the vehicle's springs and suspension. These devices or equipment absorb damp shock impulses, increasing the driver's comfort and offering seamless controllability.
The main objective of automotive gas-charged shock absorbers is to confirm that the tires of the vehicles are continuously on the road surface. This enables the user or the driver to be safe with the vehicle control and braking reaction. The adoption of automotive gas-charged shock absorbers is growing at a steady pace. The automotive gas-charged shock absorbers manufacturers' continuous development and implementation of new strategies to increase the market is driving the market. Additionally, the increasing demand for cars globally is also propelling the growth of the market.
In 2018, the twin-tube gas-charged segment led the market with a larger market share as compared to its monotube counterpart. The twin-tube shock absorbers are preferred as they use less gas pressure, which prevents the fluid from foaming, making them a major factor in the growth of the market. Additionally, the twin-tube shockers are less expensive as compared to monotube shockers since there is no requirement for a piston chamber or a floating piston to separate the gas charge from the oil during the shock.
The automotive gas-charged shock absorbers market is led by Europe due to the presence of various key players in the region, such as ZF Friedrichshafen AG, Thyssenkrupp AG, Magneti Marelli S.p.A., and others. Moreover, there are various automobile companies that are working on safety and comfort for the passenger as well as the driver, which leads to the growth of the automotive gas-charged shock absorber market. Additionally, the presence of various economies in the region, such as the UK, Germany, France, Italy, and others, is also contributing to the growth of the market in the region.
Some of the key players operating in the automotive gas-charged shock absorbers market include ZF Friedrichshafen AG, Samvardhana Motherson Group (SMG), Magneti Marelli S.p.A., Hitachi Automotive Systems Ltd., ITT Corporation, Gabriel India Limited, Showa Corporation, KYB Corp., Arnott Inc., ACDelco Inc., Tenneco Inc., Meritor, Inc., Zhejiang Sensen Auto Parts Co., Ltd., and Thyssen.
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2019 to 2027.
The automotive gas-charged shock absorbers market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global automotive gas-charged shock absorbers market based on sales channel, vehicle type, design type, and geography. Key segments covered in the report are as follows:
The market for Automotive Gas Charged Shock Absorbers Market is expected to reach USD$ 3.06 Bn in 2027.
The Automotive Gas Charged Shock Absorbers Market is expected to see significant CAGR growth over the coming years, at 6.0% .
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
Magneti Marelli S.p.A., Hitachi Automotive Systems Ltd., ITT Corporation, Gabriel India Limited .are some of the major players in the global market.