A shock absorber is a mechanical or hydraulic component of a vehicle that absorbs vibration or shock when a vehicle runs. It is installed between the body of a car, generally the chassis and tires with a spring attached to it. Oil or other lubricant is filled inside a shock absorber which also contains a piston. The spring absorbs the stock or vibration from a road surface by converting the mechanical energy of vibration into heat energy and is dissipated. Automotive shock absorbers used in vehicles act as a cushion to reduce the effect of vibration when a vehicle moves through uneven roads and also improves vehicle handling and makes the journey pleasant and safe. The key function of a shock absorber is to ensure that the vehicle’s tires remain always in contact with the road at all times.
A mount is a device that attaches a strut or shock absorber to a vehicle chassis. Boots protect the piston of the shock absorber from mud, dust, dirt, and other contamination which increases the life of shock absorbers.
By application, the automotive shock absorber rubber market is segmented into mount and boot. The market is segmented into original equipment (OE) type and aftermarket type. The market share of mount application is more than the boot application.
By geography the market is divided into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is one of the largest automotive shock absorber rubber markets in the world. The U.S. is the largest market in the region as it is the second largest automotive and passenger vehicle market globally. Canada and Mexico are other major markets in this region. Europe is another significant automotive shock absorber market in the world. Germany is the largest market in this region as it is the largest automotive market in Europe and its passenger vehicle market is fourth largest in the world. The U.K, France, Italy, Spain, Belgium, Sweden and Netherlands are other major markets in this region. Asia Pacific is one of the largest automotive shock absorber rubber markets in the world. China is the largest market in this region as it is the largest automotive and passenger vehicle market in the world. Japan and India are significant shock absorber rubber markets in this region as they are the third and fifth largest passenger vehicle markets in the world. South Korea and Australia are other major markets in this region. Middle East & Africa is a prominent automotive shock absorber rubber market dominated by Iran, Turkey, Saudi Arabia, and South Africa. Latin America is a major automotive shock absorber rubber market with Brazil the largest market in this region. Argentina is another major market in this region.
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Rising demand for passenger and off-road vehicles is increasing the demand for automotive shock absorber rubbers. Rising demand for electronic controlled air suspension (ECAS) is increasing the demand for automotive shock absorber rubbers. An opportunity for the automotive shock absorber rubber market is the rising demand for eco-friendly hybrid and electric vehicles across the world. Major automotive manufacturers such as Volvo Car Corp., BMW AG and Daimler AG plans to sell electric vehicles in future which are anticipated to increase demand for automotive shock absorber rubbers.
The report highlights the various competitive strategies adopted by key players operating in the market. Company profiles include company details, market presence by geography and segments, strategic overview, SWOT analysis, and historical revenue. The report also contains details of market share analysis of key players in the market. Some of the major firms operating in the automotive shock absorber rubber market are Columbia Engineered Rubber, Inc. (the U.S.), Hangzhou EKKO Auto Parts Co., Ltd (China), Senior Rubbers Pvt. Ltd. (India), Cooper Standard (India), Greene Rubber Company (the U.S.), Continental Group (Germany), Tenneco Inc. (the U.S.), Toyo Tire & Rubber Co., Ltd (Japan), Showa Corporation (Japan), and KYB Corporation (Japan) among others.