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Future Market Insights has released a new market study on “Automotive Gas Charged Shock Absorbers Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2027”, which analyses the global automotive gas charged shock absorbers market and offers deep dive analysis for the period of next nine years. The report evaluates all the key macro-economic factors which are projected to support the growth of the global as well as regional markets. The report on the automotive gas charged shock absorbers also discusses the challenges or restraints in the global market along with the latest trends and perceptive opportunities for all the market participants across the value chain.
The global automotive gas charged shock absorbers market was valued at US$ 2,295.6 Mn in 2013 and is anticipated to be valued at US$ 2,853.3 Mn in 2018. The market is expected to grow at a prominent CAGR of 5.3% between 2018 & 2027 and is estimated to reach a global value of US$ 4,529.7 Mn by 2027 end. Furthermore, the global automotive gas charged shock absorbers market is estimated to create incremental $ opportunity of US$ 1,676.5 Mn over the forecast period.
Automotive Gas Charged Shock Absorbers Market: Dynamics
The lifespan of automotive gas charged shock absorbers depends on the driving condition of vehicles. In good road conditions, automotive gas charged shock absorbers exhibit an operational lifespan of five to seven years. However, regular maintenance is required, such as replacement of rubber seal and oil changes. On the flip side, in bad road conditions, the total operational life of automotive gas charged shock absorbers declines and regular maintenance is required, which in turn, enriches the aftermarket segment in the global market. Road conditions in Poland, Indonesia, Vietnam, Brazil and Philippines are poor; therefore, in these countries, the potential for the aftermarket segment is projected to be medium to high in the global automotive gas charged shock absorbers market.
Automobiles, especially the commercial vehicles, find a wide range of applications in logistics and e-commerce sectors. They have been increasingly used for operations, such as shipping and transportation of equipment, heavy machines, goods, raw materials and finished products. The growing output of the e-commerce industry is expected to be one of the most significant drivers for the sale of HCVs & LCVs, which will, in turn, fuel the growth of the automotive gas charged shock absorbers market. Additionally, growth in urbanization in the global market has also resulted in expansion of construction activities, which is estimated to fuel demand for more effective automotive gas charged shock absorbers in commercial vehicles used in the construction industry. This factor will directly propel the demand for automotive gas charged shock absorbers in the automotive industry. Also, growing demand for safety and comfort from the consumers’ side is also estimated to be one the most lucrative drivers for the global automotive gas charged shock absorbers market.
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