Automotive Dampers Market size is set to grow by USD 4.54 billion from 2024-2028, Growth in production volume of passenger vehicles boost the market, Technavio

NEW YORK, July 26, 2024 /PRNewswire/ — The global automotive dampers market size is estimated to grow by USD 4.54 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 2.12% during the forecast period. Growth in production volume of passenger vehicles is driving market growth, with a trend towards increasing developments in automotive damper. However, use of faulty dampers leading to vehicle recalls poses a challenge. Key market players include ANAND Group, Asia America Industrial Manufacturing Inc., Beijing Shougang Co. Ltd., Cummins Inc., Dexko Global Inc., Duroshox Pvt. Ltd., FAW Dongjigong Shock Absorber Co. Ltd., Festo SE and Co. KG, Freudenberg and Co. KG, Hitachi Ltd., HL Mando Co. Ltd., ITT Inc., KYB Corp., Marelli Holdings Co. Ltd., MSA DAMPER S.R.L., Parker Hannifin Corp., Tenneco Inc., thyssenkrupp AG, WITTMANN Technology GmbH, and ZF Friedrichshafen AG.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Market Driver

The global automotive dampers market is experiencing notable trends, including the adoption of electromechanical rotary damper designs. Vendors are developing new damper models to gain a competitive edge. For instance, Audi introduced eROT, an electromechanical rotary damper system that recovers kinetic energy during damper movement. This energy recovery system, similar to regenerative braking, can harness wasted energy from vehicle motion. Tenneco also announced the integration of its Monroe OE Solutions MCx valving system in the fourth-generation Mercedes-Benz C-Class. This advanced architecture enhances damper performance and tunability, providing superior comfort and handling. The focus on energy recuperation is a significant trend in damper technology, with companies continually innovating to optimize vehicle performance and efficiency. 

The Automotive Dampers Market is witnessing significant growth due to increasing trends in vehicle safety and smooth ride experience. Dampers, also known as shock absorbers, are essential mechanical components of a vehicle’s suspension system. They control the suspension movement by absorbing kinetic energy generated during suspension travel, ensuring better road handling and stability. Automotive dampers are used in various types of vehicles, including motorcycles and Light Commercial Vehicles (LCVs). The market is segmented based on types, such as Twin-tube and Mono-tube, and technologies, including Hydraulic and Pneumatic. Safety is a key factor driving market growth, as dampers help reduce body roll, pitch, yaw, and improve turn-off response and vehicle cornering stability. Additionally, the expansion of cities and longer daily travel lengths have increased the demand for vehicles with better suspension control and ride quality. Aerodynamic drag and road stress are significant challenges for the automotive dampers market. However, advancements in materials and technologies, such as the use of ports or valves for controlling resistance and energy, are addressing these challenges. The market is expected to continue growing due to the increasing sales volume of vehicles and the need for improved vehicle performance and suspension control. 

Discover 360° analysis of this market. For complete information, schedule your consultation – Book Here!

Market Challenges

The automotive damper market plays a crucial role in ensuring the optimal performance of a vehicle’s suspension system. However, concerns regarding the efficient functioning of dampers have led to several recalls in recent years. In early 2019, Volkswagen of America Inc. Voluntarily recalled certain 2019 Audi Q7 and Q8 SUVs due to potential cracks in the front shock absorber. This issue may result in a loss of steering control, increasing the risk of on-road collisions. In 2018, Volkswagen also recalled certain 2018 Volkswagen Tiguan models with long-wheelbases due to a potential detachment of the lower portion of the rear shock absorber. This defect could lead to a loss of control over the vehicle, posing serious safety concerns. Such recalls not only impact the safety of the vehicles but also incur additional costs for OEMs. The expenses include the cost of repairing or replacing the faulty components, as well as potential liability-sharing concerns between the automaker and the vendor. These reliability issues present a significant challenge to the growth of the automotive damper market.The Automotive Dampers Market faces several challenges in providing optimal vehicle performance and ride quality. One challenge is the turn-off response, which affects the vehicle’s stability during quick maneuvers. Another challenge is vehicle cornering stability, which requires effective damping to prevent body roll, pitch, and yaw. Two common damper types are Twin-tube and Mono-tube, each with unique advantages. Hydraulic and Pneumatic types also exist, offering various benefits. The focus on vehicle performance and suspension control drives demand for advanced damper systems, such as Electronic Damper Systems. Ride quality, comfort, and road shocks are key concerns for occupants. Dampers are used in various vehicle segments, including passenger vehicles, bikes, and light moving vehicles. OEMs are integrating electronics systems, such as anti-roll bars, electronic control units, and linear electrical engines, to enhance damper performance. The market for automotive suspension systems, including dampers and anti-roll bars, is growing due to the increasing demand for lightweight vehicles, fuel-efficient vehicles, and reduced emissions. The integration of electronics and connected car services is also a significant trend. In summary, the Automotive Dampers Market faces challenges in delivering optimal turn-off response and cornering stability. Advanced damper technologies, such as Electronic Damper Systems, and the integration of electronics and connected car services are driving growth in the market.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This automotive dampers market report extensively covers market segmentation by

Application 1.1 Passenger vehicles1.2 Commercial vehiclesGeography 2.1 APAC2.2 Europe2.3 North America2.4 South America2.5 Middle East and Africa

1.1 Passenger vehicles- The Automotive Dampers Market refers to the industry that manufactures and supplies shock absorbers and strut assemblies for vehicles. These components help maintain optimal ride comfort and handling by controlling the suspension system’s movement. Major players in this market include ZF Friedrichshafen AG, ThyssenKrupp AG, and NSK Ltd. Market growth is driven by increasing vehicle production and demand for improved vehicle performance and safety.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global automotive aftermarket shock absorbers market is poised for significant growth, driven by increasing vehicle ownership and the rising demand for vehicle performance enhancements. The market for automotive shock absorber rubber is also expanding, as it plays a crucial role in enhancing vehicle safety and comfort. Meanwhile, the global automotive battery testers market is experiencing a surge in demand, spurred by the growing emphasis on battery maintenance and vehicle electrification. Together, these markets reflect a broader trend towards improving automotive safety, performance, and reliability.

Research Analysis

The Automotive Dampers Market refers to the industry that produces and supplies shock absorbers and suspension systems for various types of vehicles, including bikes, light moving vehicles, and passenger cars. These mechanical components play a crucial role in ensuring safety and comfort by controlling the suspension movement and absorbing kinetic and thermal energy caused by road shocks. Automotive dampers are essential parts of the suspension system, working in tandem with springs and anti-roll bars to maintain vehicle stability during movement. They help reduce aerodynamic drag on highways and expressways, improve vehicle handling, and enhance ride comfort. Modern dampers come in various forms, such as electronic dampers, which use electronic control units and linear electrical engines to adjust damping force in real-time based on wheel motions and driving conditions. Lightweight vehicles and luxury cars often employ advanced damper technologies to optimize performance and fuel efficiency. Connected car services enable remote monitoring and diagnostics of damper systems, ensuring optimal performance and reducing maintenance costs. The market for automotive dampers continues to grow due to increasing demand for comfort, safety, and performance in the bike segment and passenger vehicle market.

Market Research Overview

The Automotive Dampers Market refers to the industry that produces and supplies automotive components designed to manage suspension movement and absorb shock during vehicle operation. These mechanical components, which include pistons and cylinders, help convert kinetic energy from road stress into thermal energy, reducing the impact on passengers and improving vehicle safety. Automotive dampers are essential for various vehicle types, including motorcycles and Light Moving Vehicles (LMVs), and are used in suspension systems to ensure a smooth ride on highways and expressways. They come in different types, such as Twin-tube and Mono-tube, Hydraulic and Pneumatic, and Electronic Damper Systems. These dampers play a crucial role in vehicle performance, ride quality, stability, handling qualities, and body roll, pitch, and yaw control. The market for automotive dampers is driven by factors such as daily travel lengths, expansion of cities, and the need for comfortable and fuel-efficient vehicles. The industry also benefits from advancements in electronics systems, connected car services, and the increasing demand for luxury cars.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationPassenger VehiclesCommercial VehiclesGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/automotive-dampers-market-size-is-set-to-grow-by-usd-4-54-billion-from-2024-2028–growth-in-production-volume-of-passenger-vehicles-boost-the-market-technavio-302206664.html

SOURCE Technavio