Technically
speaking, global shock absorber market has attained maturity. The market is
highly competitive which revolves around price. Manufacturers across the
world are trying hard to get lucrative share in this market and hence are
persistently working to improve the product line through constant research
and development. To increase the revenue growth many American and European
companies are shifting their base of operation in developing nations of
Eastern Europe and Asia in China, India, Malaysia etc.
In order to create demands, manufacturers are now training the motorists
about the dangers of worn out shock absorbers. They are infact educating the
consumers to replace the worn shocks and informing them that how it affects
the 'Safety Triangle' - steering, stopping and stability.
Due to mergers and acquisitions, global shocks market has become highly
oligopolistic. In an effort to extend their global activities and bolster
their positions in individual markets, manufacturers have joined forces.
International trade journal has revealed interesting facts about the usage
of different types of suspension systems and shock absorbers in developed
countries which are as follows:
- Interconnected suspension systems which do not use shock absorbers in
anyway is now being used, though in a small way, in passenger car market
in developed countries.
- Nearly 98% of the shock absorber that is used world over is
telescopic type.
- In 1990's market share of non-pressurized twin tube hydraulic shock
absorbers, in developed world was around 80 per cent and in other
countries it was around 100 per cent.
- Two-wheeler and heavy commercial vehicle markets is still untouched
by Pressurized shock absorbers.
- The variable damping damper, though has potential is rarely used.
Future Trend
The major field in which constant innovation has been taking place is twin
tube hydraulic shock absorbers, both pressurized and non-pressurized types.
Even in this field constant efforts are being made to improve following
areas:
- Pre-loaded valves are designed and produced in order to obtain linear
variation of damping force with velocity.
- Shock absorbers that are electrically adjustable.
- Variable damping co-efficient shock absorbers, Self-adjusting types.
Enhancing the life and improvement of the components of the shock
absorbers like:
- Oil seals
- Valves
- Piston and piston rod assembly
- Rubber mountings
Potential Markets
After analyzing the below data we can conclude that Canada, Mexico and
Germany are the major export market for shock absorber. Japan's shock
absorber market however is dominated by the manufacturers of USA.
| Country |
2000 |
2001 |
2002 |
2003 |
Percent Change |
| Canada |
155,600,810 |
144,620,745 |
142,543,103 |
148,748,606 |
4.4% |
| Mexico |
100,442,094 |
90,537,434 |
86,076,082 |
83,108,096 |
-3.4% |
| Japan |
60,751,026 |
53,545,953 |
48,273,014 |
48,862,153 |
1.2% |
| United Kingdom |
38,147,614 |
37,097,088 |
30,243,127 |
30,556,105 |
1.0% |
| Germany |
27,402,944 |
28,067,742 |
24,870,034 |
26,806,074 |
7.8% |
| China |
15,335,341 |
17,959,041 |
20,552,991 |
26,706,938 |
29.9% |
| Korea |
26,302,437 |
20,899,568 |
21,150,725 |
22,524,700 |
6.5% |
| Netherlands |
20,326,435 |
18,037,061 |
16,992,189 |
19,206,694 |
13.0% |
| Taiwan |
22,403,683 |
16,626,104 |
16,786,180 |
16,110,588 |
-4.0% |
| France |
18,920,821 |
18,625,503 |
17,521,947 |
15,682,597 |
-10.5% |
| Singapore |
15,998,653 |
15,799,147 |
14,717,811 |
14,889,433 |
1.2% |
| Belgium |
12,823,972 |
12,450,405 |
12,031,741 |
13,323,255 |
10.7% |
| Australia |
11,683,965 |
10,225,832 |
12,293,775 |
12,449,606 |
1.3% |
| Hong Kong |
12,207,684 |
11,782,602 |
10,027,396 |
10,541,888 |
5.1% |
| Malaysia |
10,122,838 |
8,554,980 |
9,456,562 |
10,124,188 |
7.1% |
| Subtotal : |
548,470,317 |
504,829,204 |
483,536,676 |
499,640,921 |
3.3% |
| All Other: |
163,817,007 |
161,191,683 |
146,061,941 |
151,783,052 |
3.9% |
| Total |
712,287,324 |
666,020,887 |
629,598,616 |
651,423,973 |
3.5% |
