NEW YORK, Aug. 31, 2022 /PRNewswire/ — The “Automotive Dampers Market Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the automotive dampers market between 2021 and 2026 is USD 6.83 billion, as per the latest market analysis report by Technavio. The report predicts the market to witness an accelerating growth momentum at a CAGR of 3.13%. Technavio categorizes the global automotive dampers market as a part of the global auto parts and equipment market. Our report provides extensive information on the value chain analysis for the automotive dampers market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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Key Market Dynamics:
- Market Driver: The growth in the production volume of passenger vehicles is one of the key drivers supporting the automotive dampers market growth. Dampers form an integral part of an automobile and can be used in the form of a strut-type suspension system or a torsion beam. Moreover, all regions witnessed year-over-year growth in the production volume of passenger vehicles. Automotive dampers are used in almost every type of automobile, though the design may vary from one vehicle to another. Hence, the growth of the global automotive dampers market is directly dependent on the demand for automobiles.
- Market Challenge: The use of faulty dampers leading to vehicle recalls is one of the key factors challenging the automotive dampers market growth. Automotive dampers are an integral part of the suspension system, and their efficient working is important for ensuring optimal performance of the suspension system. However, concerns related to the functioning of dampers have led to vehicle recalls. The recalls not only lead to serious safety concerns but also impact the brand value of the vehicle and the automaker. Also, the cost incurred for repairing or replacing free of charge adds to the cost burden on OEMs. This will have a negative impact on the automotive dampers market growth during the forecast period.
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The automotive dampers market report is segmented by Application (Passenger vehicles and Commercial vehicles) and Geography (APAC, Europe, North America, South America, and Middle East and Africa).
- Regional Opportunities: 58% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the automotive dampers market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The growing demand for luxury or premium vehicles will facilitate the automotive dampers market growth in APAC over the forecast period.
- Revenue-generating Segment Highlights: The automotive dampers market share growth in the passenger vehicles segment will be significant during the forecast period. Passenger vehicles can be segmented as entry-level, mid-level, and premium or luxury-level vehicles. Based on car body type, passenger vehicles are segmented into hatchbacks, compact sedans, mid-size sedans, and luxury sedans. Different types of dampers are used for different vehicle segments. Automakers consider factors such as vehicle type and the region where the vehicle is sold while choosing dampers for their vehicles. Therefore, it is anticipated that the increasing preference for advanced dampers is likely to contribute to the rise in the adoption of automotive dampers in passenger vehicles.
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Vendor Landscape
The automotive dampers market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. This statistical study of the automotive dampers market encompasses successful business strategies deployed by the key vendors. The automotive dampers market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. To make the most of the opportunities and recover from the pandemic impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Some Companies Mentioned
- ANAND Group
- Asia America Industrial Manufacturing Inc.
- Beijing Shougang Co. Ltd.
- Dexko Global Inc.
- Duroshox Pvt. Ltd.
- FAW Dongjigong Shock Absorber Co. Ltd.
- Festo SE and Co. KG
- Freudenberg SE
- Hitachi Ltd.
- ITT Inc.
- KYB Corp.
- Mando Corp.
- Marelli Holdings Co. Ltd.
- Meritor Inc.
- MSA DAMPER S.R.L.
- Parker Hannifin Corp.
- Tenneco Inc.
- thyssenkrupp AG
- WITTMANN Kunststoffgerate GmbH
- ZF Friedrichshafen AG
- Access extensive vendor profiles with key offerings and strategic initiatives as you Download PDF Sample
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Automotive Dampers Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.13% |
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Market growth 2022-2026 |
$ 6.83 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
2.43 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 58% |
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Key consumer countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
ANAND Group, Asia America Industrial Manufacturing Inc., Beijing Shougang Co. Ltd., Dexko Global Inc., Duroshox Pvt. Ltd., FAW Dongjigong Shock Absorber Co. Ltd., Festo SE and Co. KG, Freudenberg SE, Hitachi Ltd., ITT Inc., KYB Corp., Mando Corp., Marelli Holdings Co. Ltd., Meritor Inc., MSA DAMPER S.R.L., Parker Hannifin Corp., Tenneco Inc., thyssenkrupp AG, WITTMANN Kunststoffgerate GmbH, and ZF Friedrichshafen AG |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Application
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
About Us
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