LONDON--(BUSINESS WIRE)--A new market research study by Technavio on the global automotive dampers market projects the market to grow at a CAGR of over 3% during the period 2019-2023. This research report provides an in-depth analysis of the market in terms of revenue, top drivers, and emerging market trends. It also includes detailed insights and forecasts for all the market segments across different geographies.
Growing penetration of efficient materials within dampers
The global automotive dampers market is witnessing increasing use of newer materials such as fluoro rubber mixtures, which improve the performance of dampers. The use of such materials can be seen specifically in the damper seals and piston, which is contributing toward the market's growth. Moreover, the use of such efficient materials helps the damper seals to maintain leak, tightness at very low temperatures. The primary advantage of using fluoro rubber mixtures is that its frictional properties hardly change with temperature. The use of such efficient materials is providing a smoother and comfortable riding experience to consumers, which supports the growth of the global automotive dampers market throughout the forecast period.
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Growing advances in automotive suspension technology
The automotive suspension system has evolved over the years as a result of technological developments. Currently, the trend is changing fast with the development of electronically controlled suspension system. The system uses an advanced array of sensors, electronic control units, and module. Also, the system continuously monitors and analyses wheel movements, with reaction time less than milliseconds. The advancements in the field of customizable damper, anti-roll bar, and air suspension are leading toward the development of unique system-software architecture. Due to such advantages, the market for automotive dampers is expected to showcase a positive outlook during the forecast period.
According to a senior analyst at Technavio, “The global automotive dampers market is witnessing various trends, which are expected to impact the market positively. One of the prominent trends visible in this market is electromechanical rotary damper designs, which delivers superior performance. OEMs, along with vendors of suspension systems, are also working on the prototype designs of dampers. Recently, AUDI revealed a power-generating suspension system, electromechanical rotary dampers (eROT). Such technological advancements are expected to boost market growth during the forecast period.”
Use of faulty dampers leading to vehicle recalls
Automotive dampers are an integral part of the suspension system, and their efficient working is vital for ensuring optimal performance of the suspension system. However, concerns related to the functioning of dampers have led to vehicle recalls. Such issues related to the functioning of dampers not only affect the safety of cars but also incur additional cost to the OEMs, resulting in the liability sharing concerns between the automaker and the vendor, thereby challenging the growth of the global market. However, with the growing advances in automotive suspension technology and the increasing developments in automotive damper, the market is expected to have a positive outlook during the forecast period.
Top players in the global automotive dampers market:
- Hitachi Ltd.
- Magneti Marelli Spa
- Mando Corp.
- Showa Corp.
- Tenneco Inc.
- ZF Friedrichshafen AG
Some of the key topics covered in the global automotive dampers market include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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