Automotive Gas Charged Shock Absorber Market Projected to Reach USD 6,154.30 Million by 2033, Growing at a CAGR of 5.3% | FMI Reports – FMIBlog

The global automotive gas charged shock absorber market is projected to generate USD 3,671.90 million in revenue in 2023. Experts in the automotive sector anticipate an average compound annual growth rate (CAGR) of 5.3% through 2033, leading to an estimated market valuation of USD 6,154.30 million by that year.

A senior research analyst at Future Market Insights notes that driver safety and comfort are the primary factors driving the demand for automotive gas charged shock absorbers worldwide. As essential components of a vehicle’s suspension system, these shock absorbers mitigate the impact of rough terrains by controlling excessive suspension movements, resulting in a firmer and more stable ride. The ride quality and handling performance of vehicles will continue to be significant factors influencing consumer purchasing decisions, particularly in areas with challenging road conditions.

The analyst adds that a growing number of vehicles, from passenger cars to heavy-duty trucks, are being equipped with damping control technology. This advancement enhances on-road performance and protects vital vehicle components from premature wear and failure.

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Technologically Advanced Electronic and Monotube Variants to Take Over Conventional Shock Absorbers

Compared to the twin-tube design, a monotube shock absorbers are being increasingly preferred owing to its design that further prevents any aeration and cavitation from occurring. Considered ideal for luxury sedans, SUV rear axles, and sports car applications, monotube shock absorbers offers faster damping reaction and prompt responses to changing road conditions, as a result of continuous pressure exerted on the oil, by the gas.

M&A Remains a Preferred Forward Market Strategy

FMI anticipates strategic mergers and acquisitions to remain a critical expansion strategy among manufactures of automotive gas charged shock absorbers, creating a substantial opportunity for the shock absorber market. Some key developments include:

FMI Offers Segmentation Analysis of Automotive Gas Charged Shock Absorbers

Automotive Gas Charged Shock Absorbers Market: Segmentation

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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