Automotive Shock Absorber Market Report 2025

The automotive shock absorber market size has grown strongly in recent years. It will grow from $14.72 billion in 2024 to $15.52 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to vehicle safety regulations, increasing vehicle ownership, rising demand for comfortable rides, off-road and performance vehicles, urbanization and infrastructure development.

The automotive shock absorber market size is expected to see strong growth in the next few years. It will grow to $19.57 billion in 2029 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period can be attributed to the rise in electric and autonomous vehicles, adaptive and smart suspension systems, global urbanization trends, increased focus on vehicle customization, and environmental sustainability concerns. Major trends in the forecast period include collaborations for research and development, technological advancements in suspension systems, advanced materials and coatings, personalized driving modes, and energy harvesting shock absorbers.

The demand for automobiles is expected to drive the growth of the automotive shock absorber market in the future. Automobiles, commonly referred to as cars or vehicles, are self-propelled wheeled vehicles designed for road transportation. They utilize shock absorbers to manage suspension movement and ensure consistent contact between the tires and the road surface. For example, in January 2024, the European Automobile Manufacturers' Association (ACEA), a Belgium-based lobbying and standards group for the automobile industry, reported strong growth in the EU car market, with a 13.9% increase in sales in 2023, totaling 867,052 units compared to the previous year, which brought the total annual volume to 10.5 million units. Most markets experienced double-digit growth, particularly three of the largest: Italy (+18.9%), Spain (+16.7%), and France (+16.1%), while Germany saw a more modest year-on-year growth of 7.3%. Therefore, the rising demand for automobiles is propelling the growth of the automotive shock absorber market.

The increasing demand for tires is also expected to drive the growth of the automotive shock absorber market in the future. Tires, cylindrical structures filled with air or made of solid rubber, are mounted on vehicle wheels to provide a resilient and durable contact surface with the road or ground. Automotive shock absorbers play a crucial role in maintaining constant contact between tires and the road during acceleration, braking, and cornering to ensure optimal traction. For instance, in August 2023, Tire Grades, a US-based website offering information about automotive tires, reported the annual sale of 300 million tires in the US. Consequently, the growing demand for tires is a key factor propelling the expansion of the automotive shock absorber market.

Product innovations are a significant trend gaining traction in the automotive shock absorber market. Major companies in this sector are introducing innovative products to maintain their competitive edge. For example, in April 2023, ZF Friedrichshafen AG, a Germany-based auto components provider, launched TRW shock absorbers. These shock absorbers are produced under stringent Original Equipment (OE) quality standards, ensuring exceptional performance that enhances vehicle safety, comfort, and handling. They feature advanced technology, including a piston rod surface that is 20% smoother to reduce friction and extend lifespan, as well as metal discs in the piston valve for quicker response times.

Major companies in the automotive shock absorber market are concentrating on introducing advanced solutions, such as gas shock absorbers. These suspension components utilize compressed gas to dampen bumps and improve ride comfort by managing the motion of the vehicle's springs. For example, in December 2023, NTN Corporation, a Japan-based bearing manufacturer, launched SNR shock absorbers. A distinctive feature of these shock absorbers is their use of 100% pressurized nitrogen gas, which provides optimal shock absorption for enhanced stability and improved handling while driving. This design also helps to reduce overheating and increases durability. The SNR range includes various types of shock absorbers, such as conventional tubular, spring cup, MacPherson struts, and cartridge types, each specifically engineered to meet different performance demands and vehicle requirements.

In November 2022, Apollo Global Management Inc., a US-based Private Equity firm, completed the acquisition of Tenneco for an undisclosed amount. This acquisition is expected to enhance Apollo Global Management Inc.'s automotive product category, with Tenneco being a US-based automotive component manufacturer specializing in the production of automotive shock absorbers. The move is anticipated to strengthen their position in the market, allowing for the delivery of innovative client solutions and facilitating accelerated growth.

Major companies operating in the automotive shock absorber market include ZF Friedrichshafen AG, Magna International Inc., Tenneco Inc., Marelli Europe S.p.A., Benteler Automotive Corporation, Mando Corporation, Sumitomo Riko Company Limited, KYB Corporation, Hitachi Astemo Ltd., Continental AG, Moog Inc., Meritor Inc., Showa Corporation, FOX Factory Holding Corp., Endurance Technologies Limited, BWI Group, DMA Sales Inc., Arnott Industries, Denso Corporation, KONI BV, Datsons Engineering Works Pvt Ltd., Brinn Inc., ACDelco Corporation, H&R Spezialfedern GmbH & Co. KG, FCS Automotive International Inc., Ohlins Racing AB, QBAutomotive LLC, Kobe Suspension Co Pvt Ltd.

Asia-Pacific was the largest region in the automotive shock absorber market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive shock absorber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive shock absorber market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

An automotive shock absorber, alternatively referred to as a suspension damper or shock damper, constitutes a vital element within a vehicle's suspension system, specifically engineered to absorb and mitigate the impact and vibrations arising from irregularities on the road. Its primary function revolves around regulating the rebound of the vehicle's suspension springs.

The principal categories of automotive shock absorbers encompass single-tube shock absorbers and twin-tube shock absorbers. Single-tube shock absorbers, also identified as monotube shock absorbers, belong to the hydraulic suspension component category. These shock absorbers are available in hydraulic and gas-filled variants, featuring technologies such as air shock absorbers, damping shock absorbers, as well as active and semi-active systems. These products find application through diverse sales channels, including original equipment manufacturers (OEM) and the aftermarket, catering to passenger cars, SUV trucks, heavy vehicles, e-vehicles, and other segments.

The automotive shock absorber market research report is one of a series of new reports that provides automotive shock absorber market statistics, including automotive shock absorber industry global market size, regional shares, competitors with an automotive shock absorber market share, detailed automotive shock absorber market segments, market trends and opportunities, and any further data you may need to thrive in the automotive shock absorber industry. This automotive shock absorber market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The automotive shock absorber market consists of sales of products such as coil springs, leaf springs, and struts. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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