Two-Wheeler Shock Absorber Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, June 28, 2024 /EINPresswire.com/ -- The two-wheeler shock absorber market has demonstrated robust growth, expanding from $3.17 billion in 2023 to an anticipated $3.34 billion in 2024, marking a compound annual growth rate (CAGR) of 5.1%. This growth is underpinned by factors such as rising disposable incomes, increased government investments in vehicle safety enhancements, heightened demand for motorcycles, and a rise in two-wheeler accidents. Looking ahead, the market is poised for further expansion, projected to reach $4.06 billion by 2028 with a similar CAGR of 5.1%. Key drivers include the growing presence of women riders, expanding global population, and increasing urbanization trends. Innovations like adjustable mono-suspension and advanced dual-suspension shock absorbers, alongside hydraulic technology integration, are expected to drive market dynamics, offering enhanced performance and customization options to cater to diverse consumer needs.
Driving Factors Fueling Market Expansion
The historic growth of the two-wheeler shock absorber market can be attributed to several key factors. Rising disposable incomes, increased government initiatives aimed at enhancing vehicle safety, growing demand for motorcycles, and a rise in two-wheeler-related accidents have collectively spurred market growth.
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Key Players and Market TrendsLeading companies like ZF Friedrichshafen AG and KYB Corporation are focusing on product innovation to improve durability and performance. Innovations such as adjustable mono-suspension shock absorbers and advancements in hydraulic technology are shaping the market landscape . For instance, Öhlins Racing AB introduced the TTX22m.2 shock in June 2022, featuring enhanced bottom-out performance and improved fitting capabilities tailored for trail and downhill riding.
In strategic moves, companies like Hitachi Astemo Ltd. are expanding their market presence through acquisitions and partnerships, enhancing their technological capabilities and product offerings.
Segments of the Two-Wheeler Shock Absorber MarketThe market is segmented based on type, technology, and sales channels:• Type: Metal Spring, Hydraulic Dashpot, Pneumatic Cylinders, Self-Compensating Hydraulic, Rubber Buffer, Collapsing Safety Shock Absorbers• Technology: Mono Suspension, Dual Suspension• Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Geographical Insights: Asia-Pacific Leading the MarketAsia-Pacific emerged as the largest region in the two-wheeler shock absorber market in 2023 and is expected to continue its dominance, driven by increasing motorcycle sales and urbanization. The region offers significant growth opportunities due to rising disposable incomes and expanding transportation infrastructure.
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Two-Wheeler Shock Absorber Global Market Report 2024 from TBRC covers the following information:• Market size data for the forecast period: Historical and Future• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Two-Wheeler Shock Absorber Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on two-wheeler shock absorber market size, two-wheeler shock absorber market drivers and trends, two-wheeler shock absorber market major players, competitors' revenues, market positioning, and market growth across geographies. The two-wheeler shock absorber market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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June 28, 2024, 12:44 GMT
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Originally published at https://www.einpresswire.com/article/723649037/two-wheeler-shock-absorber-market-size-share-and-growth-analysis-for-2024-2033
