The global motorcycle shock absorber market is projected to grow at a CAGR of 2.39% to reach US$4,433.888 million by 2025, from US$3,848.266 million in 2019. Damper is another name for motorcycle shock absorber, which, is a component of the suspension system of a motorcycle and is present in the rear of the vehicle. Ride comfort and motorcycle stability are very important for riders as it leads to a more efficient and safer ride minimizing the chances of accidents. Shock absorbers improve stability and ride comfort. The growing two-wheeler industry is boosting the motorcycle shock absorber market growth.
Furthermore, the increasing investments and participation of market players in research and development to improve and launch better and efficient shock absorbers efficient, thus bolstering the market growth over the forecast period. For instance, In October 2019, Nitron, one of the leading providers of high-quality shock absorbers, launched a new and advanced shock absorber range for Suzuki GSX-S750 and Honda CBR400R and CBR500R for those customers looking to upgrade their pre-fitted suspensions. On December 21, TVS a motorcycle company based in India launched its motorcycle StarCity+ equipped with a with high-quality 5-step adjustable hydraulic shock absorbers at the rear.
The motorcycle shock absorber market has been segmented based on placement, distribution channel, and geography. By placement, the market is segmented as front and rear. By distribution channel, the market has been segmented into OEM’s and aftermarket.
Front shocks provide proper comfort and handling
The shock absorber is one of the most important components of a motorcycle and its suspension system. By placement, the front shocker is expected to hold a significant share in the motorcycle shock absorber market attributable to the fact that almost all the two-wheelers in the market front absorbers are present, whereas in some of the two-wheelers are equipped with only a single shock absorber.
OEM’s to hold a significant share
Shock absorbers are an essential part of the suspension system of a motorcycle and increase the comfort and driving safety. By distribution channel, OEM’s are expected to hold a significant market share as these shock absorbers are pre-fitted in most of the motorcycles being manufactured. In addition, the share of aftermarket segment will expand over the new six years owing to customers opting for aftermarket fitments with better capabilities and advanced features.
High production of motorcycles in Asia Pacific
By geography, Asia Pacific is expected to hold a significant market share owing to the increasing usage of motorcycles in countries like Thailand, Vietnam, and Malaysia due to easy affordability. Some of the players are also opening up new production facilities and assembly plants in these countries in order to increase the motorcycle production.
Some of the key players mentioned as a part of this report are SHOWA Corporation, Nitron Racing Shocks, and O ?hlins Racing.