LONDON, July 11, 2023 (GLOBE NEWSWIRE) — As per The Business Research Company’s Two-Wheeler Shock Absorber Global Market Report 2023, the market will grow from $3 billion in 2022 to $3.2 billion in 2023, at a compound annual growth rate (CAGR) of more than 5%. Further, the global market will reach $3.8 billion by 2027, with a CAGR of more than 4%. Asia-Pacific held the largest two-wheeler shock absorber market share in 2022.
The growth of the two-wheeler shock absorber industry is primarily driven by the increasing demand for motorcycles. Motorcycles are commonly used as personal transportation and travel vehicles, and the need for two-wheeler shock absorbers is directly linked to the demand for motorcycles.
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Major two-wheeler shock absorber companies are KYB Corporation, ZF Friedrichshafen AG, Tenneco, ANAND Group, Mando Corporation, Showa Corporation, Yamaha Corporation, Marelli Holdings Co. Ltd., Meritor Inc., KONI, Thyssenkrupp AG, TFX Suspension Technology, Nitron Racing Systems Ltd., Hagon Products, and NJB Shocks Ltd.
Innovation plays a key trend in the two-wheeler shock absorber market, with major companies introducing innovative products to maintain their market position.
For example, Öhlins Racing AB launched the TTX22m.2 shock in June 2022. This updated version of the original TTX22m incorporates TTX technology, offering improved bottom-out performance, easier stroke adjustment, and enhanced fitting specifically designed for trail and downhill applications.
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The global two-wheeler shock absorber market is segmented as-
1) By Type: Metal Spring, Rubber Buffer Hydraulic Dashpot, Collapsing Safety Shock Absorbers, Pneumatic Cylinders, Coil Springs,…