Global Two Wheel Shock Absorber Market Size By Type (Hydraulic Type, Pneumatic Type), By Application (Motorcycles, Electromobile), By Region, And Segment Forecasts, 2023 to 2032

The Global Two Wheel Shock Absorber Market was valued at USD 2.3 billion in 2023 and is projected to surpass USD 3.9 billion by 2031, growing at a CAGR of 6.7% during the forecast period of 2023-2031. This growth is driven by the increasing demand for motorcycles and scooters globally, along with advancements in shock absorber technology aimed at improving vehicle comfort and performance. The rising urbanization, growth in personal mobility, and demand for lightweight vehicles are also boosting the market.

Drivers:

Rising Motorcycle Demand: The growth in the motorcycle and scooter market, particularly in emerging economies like India and China, is driving the demand for two-wheel shock absorbers.

Technological Advancements: Innovations in shock absorber designs such as the development of electronically adjustable and lightweight shock absorbers are pushing market growth.

Urbanization and Increasing Personal Mobility: Urbanization has increased the need for affordable and compact vehicles, such as two-wheelers, leading to higher demand for advanced shock absorption systems.

Restraints:

High Cost of Advanced Shock Absorbers: Premium technologies in shock absorbers come at a higher price, limiting their adoption in low-cost and economy vehicles.

Raw Material Price Fluctuations: Volatility in raw material prices, such as steel and rubber, can impact production costs, affecting market profitability.

Opportunity:

Growing Electric Two-Wheeler Market: The rapid adoption of electric scooters and motorcycles opens new opportunities for manufacturers to develop shock absorbers tailored to electric vehicles.

Emerging Markets: Emerging markets, particularly in Latin America and Southeast Asia, present significant growth opportunities due to increasing two-wheeler sales and the rising need for aftermarket services.

Market by System Type Insights:

Based on system type, the Hydraulic Shock Absorber segment held the largest market share in 2023 due to its widespread use in standard motorcycles and scooters. However, the Gas-Filled Shock Absorber segment is expected to witness the highest growth rate, driven by its superior performance in terms of ride comfort and durability.

Market by End-Use Insights:

In terms of end-use, the OEM (Original Equipment Manufacturer) segment accounted for over 70% of the market share in 2023. The increasing production of two-wheelers and the shift towards more advanced suspension systems in new models have driven the demand in this segment.

Market by Regional Insights:

Geographically, Asia-Pacific dominated the market in 2023, with a market share exceeding 50%, led by high sales of two-wheelers in countries like India, China, and Indonesia. North America is expected to experience significant growth during the forecast period, driven by increasing motorcycle adoption and customization trends.

Competitive Scenario:

Key players in the Global Two Wheel Shock Absorber Market include KYB Corporation, Showa Corporation, ZF Friedrichshafen AG, Tenneco Inc., Gabriel India Limited, YSS Suspension, and Mupo Srl. These companies are focusing on product innovation, collaborations, and geographic expansion to strengthen their market positions. For instance, KYB Corporation launched an advanced range of lightweight shock absorbers designed for electric scooters in 2023.

Scope of Work – Global Two Wheel Shock Absorber Market

Key Market Developments:

2023: KYB Corporation launched a range of lightweight shock absorbers specifically designed for electric scooters.

2024: Showa Corporation introduced a new line of electronically adjustable shock absorbers, aimed at high-end motorcycles.

2025: ZF Friedrichshafen AG expanded its presence in Southeast Asia through a partnership with local manufacturers, offering tailored shock absorber solutions for the growing two-wheeler market.

FAQs

What is the current market size of the Global Two Wheel Shock Absorber Market?

The market size was valued at USD 2.3 billion in 2023.

What is the major growth driver of the Global Two Wheel Shock Absorber Market?

The rising demand for motorcycles and scooters, particularly in emerging economies, is the major growth driver.

Which is the largest region during the forecast period in the Global Two Wheel Shock Absorber Market?

Asia-Pacific is the largest region during the forecast period, driven by high two-wheeler sales.

Which segment accounted for the largest market share in the Global Two Wheel Shock Absorber Market?

The OEM segment accounted for the largest market share in 2023.

Who are the key market players in the Global Two Wheel Shock Absorber Market?

Key players include KYB Corporation, Showa Corporation, ZF Friedrichshafen AG, Tenneco Inc., and Gabriel India Limited.