New York, US, Aug. 02, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Automotive Shock Absorber Market Analysis by Type, Vehicle Type (Passenger Car and Commercial Vehicle), Sales Channel (OEM and Aftermarket) and Region – Forecast till 2030” valuation is poised to reach USD 21 Billion by 2027, registering 4.72% CAGR throughout the forecast period (2021–2027).
Automotive Shock Absorber Market Overview
The global automotive shock absorber market is expected to witness rapid revenue growth. Significantly growing automotive and OEM sectors worldwide would drive the market demand for shock absorbers.
Automotive Shock Absorber Market Report Scope:
| Report Metric | Details |
| Market Size in 2027 | USD 21 Billion |
| Growth 2021 to 2027 | 4.72% CAGR |
| Base Year | 2020 |
| Forecast Period | 2021 To 2027 |
| Key Vendors | KYB Corporation (Japan), ZF Friedrichshafen AG (Germany), Thyssenkrupp AG (Germany), Tenneco Inc. (US), Hitachi Automotive Systems Ltd. (Japan), Mando Corp (South Korea), SHOWA Corporation (Japan), Meritor Inc. (US), KONI BV (Netherlands), and Gabriel India Ltd. (India) |
| Key Market Opportunities | Increase in the presence of distributors, retailers, and online channel partners |
| Key Market Drivers | Increase in sales of automobiles |
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Over recent years, the automotive industry has been witnessing continually rising…
