Industry news

witnessed significant growth

Author: View:75 Publish Time:2021-11-15



The Automotive Shock Absorber Market has witnessed significant growth in recent years, driven by several factors. The global automotive shock absorbers market stands at US$ 23.2 billion in 2023 and is projected to climb to US$ 39.1 billion by 2033-end, expanding at a CAGR of 5.4% over the next ten years. The increasing demand for passenger cars and commercial vehicles, coupled with a rising awareness of road safety and vehicle performance, has led to a surge in the adoption of advanced shock absorber technologies. Additionally, the expansion of the automotive aftermarket industry has also contributed to the market's growth, as vehicle owners seek replacements and upgrades for improved comfort and handling


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