Hydraulic (Industrial) Shock Absorbers Market size was estimated at $xx Billion in 2020 and is expected to reach $xx Billion by 2027, growing at a CAGR of 10.6% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
The Industrial or hydraulic shock absorber is a piece of hydraulic equipment that uses minimal machine load to slow down moving loads. The speed of the moving load slows down as the shock absorber is reduced. Hydraulic shock absorbers are produced to completely absorb shocks without any vibrations.
The hydraulic shock absorber functions on the lead of converting kinetic energy into thermal energy. Additionally, oil is removed through the throttle more or the metering hole when the piston rod is shoved into the cylinder. Slowly, the speed diminishes as the hydraulic shock absorber is compressed, giving a minimal possible reaction force.
Hydraulic or Industrial shock absorber is majorly used in the aerospace, defense, automotive, and mechanical industries for reducing the maintenance cost of machines. The absorber is designed to improve material handling applications with smoother operation and operator comfort. Some of the features of hydraulic shock absorbers include stopping any type of motion such as rotary, rolling, free-falling, sliding, and straight-line.
Hydraulic (Industrial) Shock Absorbers Market Growth and Trends
Driving factors for the industry :
• The global hydraulic shock absorbers market is estimated to expand in the near future because of the extensive growth in the global automotive industry in developed and developing economies around the globe.
• Increasing demand for comfort in automobiles and for automobiles where hydraulic shock absorbers are used which are used to enhance the controllability and drivability of luxury vehicles in rough road conditions and is projected to drive the growth of the industrial shock absorbers market over the next few years.
• Rising packaging and material handling industry across the world is expected to drive the growth and demand of the hydraulic shock absorbers market across the world on a large scale.
• Rising automation in factories, automotive, medical, and pharmaceutical industries is expected to drive the demand for hydraulic shock absorbers globally.
• North America is anticipated to constitute a significant share of the global hydraulic (industrial) shock absorbers market during the forecast period due to expansion in automotive, and aerospace and defence industries in the region.
• Various manufacturing industry sectors in developed and developing countries are focusing on manufacturing components and parts using hydraulic (industrial) shock absorbers in order to provide a high operational safety margin. This in turn is one of the major factors expected to drive the global hydraulic (industrial) shock absorbers market in the near future.
• The hydraulic (industrial) shock absorbers market in the Europe region will expand significantly due to the rapid growth of pharmaceutical and automotive industry sectors in the region.
• Asia Pacific is expected to witness significant growth in this market because of the rising automation in pharmaceutical & medical sectors in that region.
• In various luxury vehicles, mainly gas filled twin tube automotive shock absorbers are used because they enhance the overall comfort level and driving experience for consumers.
Additionally, automotive shock absorbers are also used to enhance the drivability and controllability of vehicles in rough road conditions thus driving it’s demand.
• Increasing automotive vehicle production of passenger cars, LCVs (Light Commercial Vehicles), HCVs (Heavy Commercial Vehicles) and two wheelers, around the globe, due to rising cargo and passenger density are other factors that are expected to augment the automotive shock absorbers market during the forecast period.
Challenges for the industry :The adjuster shock absorber market is also expected to face strong challenge from the adoption of alternatives of shock absorber devices with advanced technologies in majority of its end-use application sectors during the forecasted period, thereby hampering the demand and growth of the ordinary hydraulic shock absorber.
Hydraulic (Industrial) Shock Absorbers Market Regional Analysis
Hydraulic (Industrial) Shock Absorbers Market Share and Competition
Key companies operating in this industry are: ACE Controls Inc., BIBUS AG, Modern Industries, Inc., Universal Power Conversion, Inc., Weforma Dämpfungstechnik GmbH, Slam Proof Ltd., Parker Hannifin Corporation, KYB Corporation, Pennar Industries Limited, and ZIMMER GROUP. Similar industries in this domain that is growing at a high CAGR include Electrohydraulic Pumps Market and Automotive Hydraulic Pump Market.
Hydraulic (Industrial) Shock Absorbers Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Product Type Analysis (Revenue, USD Million, 2020 - 2027)
• Adjustable Shock Absorber
• Non-adjustable Shock Absorber
Thread Size Analysis (Revenue, USD Million, 2020 - 2027)
• Miniature shock absorber
• Mega-Line shock absorber
• Heavy shock absorber
Distribution Channel Analysis (Revenue, USD Million, 2020 - 2027)
• Direct Sales (OEM)
• Indirect Sales
Application Analysis (Revenue, USD Million, 2020 - 2027)
• Plastic Bottle Making
• Blow Molding
• Automotive Manufacturing
• Assembly Line Conveyors
• Pick & Place Robotics
• Material Handling
• Overhead crane
Industry Analysis (Revenue, USD Million, 2020 - 2027)
• Aerospace and defense
• Factory Automation
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Hydraulic (Industrial) Shock Absorbers Market Companies
• ACE Controls Inc.
• BIBUS AG
• Modern Industries, Inc.
• Universal Power Conversion, Inc.
• Weforma Dämpfungstechnik GmbH
• Slam Proof Ltd.
• Parker Hannifin Corporation
• KYB Corporation
• Pennar Industries Limited
• ZIMMER GROUP
Available Versions: -
United States Hydraulic (Industrial) Shock Absorbers Market Research Report
Europe Hydraulic (Industrial) Shock Absorbers Market Research Report
Asia Pacific Hydraulic (Industrial) Shock Absorbers Market Research Report
India Hydraulic (Industrial) Shock Absorbers Market Research Report