Global Automotive Dampers Market 2019-2023| Growing Advances in Automotive Suspension Technology to Boost the Market| Technavio

Technavio has published a new market research report on the global automotive dampers market from 2019-2023 (Graphic: Business Wire)

LONDON--()--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 Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

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With over 500 specialized analysts, Technavio boasts of an extensive report library comprising of over 10,000 reports, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than a hundred Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets. Technavio helps companies to assess their competitive position within changing market scenarios.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

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 2019-2023.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com