2024 Two-Wheeler Shock Absorber Market Forecast and Trends
The two-wheeler shock absorber market is on the rise, and The Business Research Company’s latest report sheds light on this booming industry. This comprehensive report covers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. According to their forecast, the market is expected to reach $4.06 billion by 2028, with a solid compound annual growth rate of 5.1%.
The report segments the market based on type, technology, and sales channel. Types of shock absorbers include metal spring, hydraulic dashpot, pneumatic cylinders, self-compensating hydraulic, rubber buffer, and collapsing safety shock absorbers. Technologies like mono suspension and dual suspension are also a part of this report. When it comes to sales channels, they look at original equipment manufacturers (OEM) and aftermarket options.
The driving force behind the growth of the two-wheeler shock absorber market is the increasing demand for motorcycles. These personal motorized vehicles rely on shock absorbers to maintain smooth suspension, resulting in a comfortable ride by minimizing vibrations and shocks. In the US, motorcycle sales spiked by 21.8% in 2021, as reported by online retailer RevZilla. Similarly, Zippia noted a 57% rise in bicycle sales from 2020 to 2021, reaching 52 million in 2022. This surge in interest for motorcycles fuels the need for two-wheeler shock absorbers.
One notable development in the industry is Arnott Air Suspension Products’ acquisition of JRi Shocks in November 2021. This strategic move enhances Arnott’s air suspension portfolio, particularly in the SEMA performance market. JRi Shocks specializes in high-performance precision shock absorbers for motorcycles, cars, trucks, and jeeps, making this acquisition a valuable addition to Arnott’s offerings.
The top market leaders in this sector include companies such as TE Connectivity, Schneider Electric SE, Emerson Electric Co., and ATEK Access Technologies. The report also highlights the regional landscape, with Asia-Pacific leading the two-wheeler shock absorber market in 2023. Regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
For those interested in delving deeper into the market, The Business Research Company offers an exclusive research report that provides insights into the industry’s drivers and restraints, segmentation, competitive landscape, company profiles, and regional analysis. This report is a valuable resource for anyone looking to understand the dynamic two-wheeler shock absorber market.
