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Off-Road Vehicle Shock Absorber Market Trends

  • Report ID: GMI11174
  • Published Date: Sep 2024
  • Report Format: PDF

Off-Road Vehicle Shock Absorber Market Trends

The Middle Eastern countries including the UAE and Saudi Arabia are characterized by vast stretches of deserts & barren lands. These terrains are highly suitable for off-road activities such as UTV riding and off-road biking. The UAE is popular for its desert safaris and dune-bashing rides. The high focus of the UAE government on boosting its economy by strengthening its tourism industry will provide new opportunities to the market.
 

For instance, the Prime Minister of the UAE approved the new UAE Strategy for Domestic Tourism that aims to boost and regulate the local tourism sector. The strategy focuses on collaboration among relevant local and federal entities. It further promotes the UAE as a single tourist destination with diverse attractions and experiences.
 

The integration of smart technology in off-road vehicle shock absorbers is becoming a prominent trend. These advanced systems utilize sensors and microcontrollers to automatically adjust damping levels based on real-time road conditions, providing a customized driving experience. This technology offers enhanced safety and comfort by optimizing shock absorber performance dynamically, which is particularly beneficial for competitive off-road racing and extreme terrains. The trend is driven by increasing consumer demand for high-tech, intelligent vehicle components that offer superior handling and performance. As a result, shock absorber manufacturers are increasingly incorporating smart features into their product lines to stay competitive.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of off-road vehicle shock absorber reached USD 17.3 billion in 2023 and will exhibit a 6.5% CAGR from 2024 to 2032, attributed to increasing demand for off-road vehicles in recreational activities, agriculture, and construction.

The OEM segment captured 64% share in 2023, owing to the rising production of off-road vehicles and the growing demand for high-quality, factory-installed components.

North America market achieved 70% share in 2023, driven by high demand for off-road vehicles in recreational, agricultural, and industrial applications.

Prominent players operating in the market are Bilstein (ThyssenKrupp AG), Fox Factory, Inc., ICON Vehicle Dynamics, King Shocks, Koni (ITT Corporation), KYB Corporation, Monroe (Tenneco Inc.), Öhlins Racing AB, Rancho (Tenneco Inc.), and Walker Evans Racing, among others.

Off-Road Vehicle Shock Absorber Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 340
  • Countries covered: 22
  • Pages: 220
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