Automotive Shocks and Struts Market Share & Trends [2033]

Automotive Shocks and Struts Market Overview

The Automotive Shocks and Struts Market size was valued at USD 417.23 million in 2024 and is expected to reach USD 614.04 million by 2033, growing at a CAGR of 4.4% from 2025 to 2033.

The global automotive shocks and struts market has demonstrated significant growth, with the market size estimated at USD 31.97 billion in 2024. This growth is attributed to the increasing demand for enhanced vehicle safety, performance, and comfort. Shocks and struts are critical components of a vehicle's suspension system, designed to absorb shocks, control vibration, and maintain tire contact with the road, thereby ensuring a smooth ride and vehicle stability. The market is witnessing a shift towards lightweight and cost-effective materials, such as aluminum and high-strength steel, to meet the growing demand for fuel efficiency and lower vehicle weight.

Additionally, the development of electronic and adaptive suspension systems that provide real-time adjustment based on road conditions is transforming the automotive landscape. These advancements not only contribute to enhanced driving experience but also promote fuel efficiency and lower emissions. The MacPherson Strut system, known for its simplicity and lightweight characteristics, held a valuation of USD 10.4 billion in 2023, projected to reach USD 14.0 billion by 2032. The Double Wishbone system, valued at USD 8.0 billion in 2023, is expected to rise to USD 10.2 billion by 2032, reflecting its superior handling and stability, especially in performance-oriented vehicles.

Key Findings

Driver: The primary driver of the automotive shocks and struts market is the rising demand for enhanced vehicle safety, performance, and comfort, leading to increased adoption of advanced suspension systems.

Top Country/Region: North America dominates the market, with a significant share attributed to high vehicle ownership rates and advancements in automotive technology.

Top Segment: The MacPherson Strut segment leads the market due to its simplicity, lightweight characteristics, and cost-effectiveness in mass-market vehicles.

Automotive Shocks and Struts Market Trends

The automotive shocks and struts market is experiencing transformative trends driven by technological advancements and evolving consumer preferences. One notable trend is the integration of electronic and adaptive suspension systems. These systems offer real-time adjustments to shocks and struts based on road conditions, enhancing ride comfort and vehicle handling. The adoption of such technologies is increasing, with manufacturers focusing on developing sophisticated suspension systems that offer enhanced performance, reduced weight, and improved durability. Another significant trend is the shift towards lightweight and cost-effective materials. Manufacturers are increasingly utilizing materials like aluminum and high-strength steel to reduce vehicle weight, thereby improving fuel efficiency and reducing emissions. This trend aligns with the global push for sustainable and eco-friendly automotive solutions. The growing popularity of electric and hybrid vehicles is also influencing market trends. These vehicles require specialized suspension systems to accommodate different weight distributions and performance characteristics. As a result, there is a rising demand for innovative shock and strut solutions tailored for electric and hybrid vehicles.

Furthermore, the aftermarket segment is gaining traction, driven by increasing vehicle ownership and the need for replacement parts. Consumers are seeking high-quality aftermarket shocks and struts to enhance vehicle performance and safety. This trend is particularly prominent in regions with aging vehicle fleets, where maintenance and replacement of suspension components are essential. In terms of regional trends, North America continues to lead the market, supported by high vehicle ownership rates and technological advancements. Europe follows closely, with a strong automotive sector and a focus on luxury and performance vehicles. Asia-Pacific is emerging as a significant market, driven by increasing automotive production and consumption, particularly in countries like China and India. Overall, the automotive shocks and struts market is poised for continued growth, fueled by technological innovations, material advancements, and evolving consumer demands. Manufacturers are investing in research and development to create advanced suspension systems that meet the diverse needs of modern vehicles, ensuring a dynamic and competitive market landscape.

Automotive Shocks and Struts Market Dynamics

DRIVER

Rising demand for enhanced vehicle safety, performance, and comfort.

The increasing consumer emphasis on vehicle safety, performance, and comfort is a significant driver of the automotive shocks and struts market. Shocks and struts play a crucial role in absorbing road shocks, maintaining tire contact, and ensuring vehicle stability. As consumers seek smoother rides and better handling, manufacturers are compelled to develop advanced suspension systems. The integration of electronic and adaptive suspension technologies further enhances vehicle performance, meeting the growing expectations of modern drivers.

RESTRAINT

High cost of advanced suspension systems.

The development and integration of advanced suspension systems, including electronic and adaptive shocks and struts, involve significant costs. These high costs can hinder adoption, especially in cost-sensitive markets and among budget-conscious consumers. Additionally, the complexity of these systems may lead to increased maintenance expenses, further restraining market growth.

OPPORTUNITY

Growth in electric and hybrid vehicles.

The rapid growth of electric and hybrid vehicles presents a substantial opportunity for the automotive shocks and struts market. These vehicles have unique weight distributions and performance characteristics, necessitating specialized suspension systems. Manufacturers have the opportunity to develop innovative shock and strut solutions tailored to the specific needs of electric and hybrid vehicles, tapping into a growing market segment.

CHALLENGE

Fluctuating raw material prices.

The automotive shocks and struts market faces challenges due to fluctuating prices of raw materials such as steel and aluminum. These fluctuations can impact manufacturing costs and profit margins, making it difficult for manufacturers to maintain consistent pricing. Additionally, supply chain disruptions and geopolitical factors can exacerbate these challenges, affecting the overall stability of the market.

Automotive Shocks and Struts Market Segmentation

The automotive shocks and struts market is segmented by type and application.

By Type

Shocks: absorbers are designed to control the impact and rebound movement of a vehicle's springs and suspension. They enhance vehicle stability by dampening oscillations from road irregularities, improving ride comfort. The market for shocks is substantial, driven by the need for improved vehicle handling and safety.
Struts: are structural components of the suspension system that combine the functions of a shock absorber and a support for the vehicle's suspension. The MacPherson Strut, known for its simplicity and lightweight design, held a valuation of USD 10.4 billion in 2023, projected to reach USD 14.0 billion by 2032. The Double Wishbone system, valued at USD 8.0 billion in 2023, is expected to rise to USD 10.2 billion by 2032, reflecting its superior handling and stability, especially in performance-oriented vehicles.

By Application

Passenger Vehicles: This segment encompasses all personal vehicles designed for individual use, including sedans, SUVs, and hatchbacks. Passenger vehicles significantly dominate the market due to a large consumer base and the increasing demand for comfort and safety features in personal transportation.
Commercial Vehicles: This segment covers a broader range of vehicles used for business purposes, such as trucks, buses, and vans. Light Commercial Vehicles contribute notably to the market, with growing e-commerce and last-mile delivery services boosting demand for efficient suspension systems. Heavy Commercial Vehicles represent another critical area, as advancements in logistics and freight services necessitate robust shock absorbers and struts to enhance load management and driving stability.

Automotive Shocks and Struts Market Regional Outlook

The automotive shocks and struts market exhibits varied performance across different regions.

North America

holds a significant share of the market, valued at USD 10.5 billion in 2023. This dominance is attributed to high vehicle ownership rates, advancements in automotive technology, and a strong focus on vehicle safety and performance. The region's well-established automotive industry and consumer preference for comfort and safety features drive the demand for advanced suspension systems.

Europe

is characterized by a strong demand for advanced suspension technologies in luxury and performance vehicles. Germany, France, and the UK collectively accounted for over 55% of the regional vehicle production in 2023, directly influencing demand for high-quality automotive shocks and struts. Germany alone produced approximately 4.1 million passenger cars in 2023, many of which integrated electronically controlled strut systems to enhance driving dynamics. Stricter EU regulations on vehicle safety and emissions are also promoting the adoption of improved suspension systems that contribute to ride comfort and stability. Moreover, the region’s growing hybrid and electric vehicle (EV) segment is fueling investments in custom-designed struts and adaptive dampers. With nearly 2.6 million EVs sold in Europe in 2023, manufacturers are compelled to invest in lightweight and performance-enhancing suspension technologies suitable for these platforms.

Asia-Pacific

is the leading market for automotive shocks and struts, driven by large-scale vehicle production, rising consumer demand, and extensive infrastructure developments. China led the region with over 23 million vehicles produced in 2023, representing more than 30% of global automotive production. The adoption of advanced suspension systems in China is increasing, especially in premium sedans and electric vehicles. Japan and South Korea also play significant roles with their globally influential OEMs like Toyota, Honda, Hyundai, and Kia, who prioritize comfort and safety. India, another key market, produced over 5 million vehicles in 2023 and is witnessing growing demand for strut-equipped compact cars and SUVs. The Asia-Pacific region is also home to major shock absorber manufacturers, including KYB and Showa Corporation, supporting strong aftermarket and OEM demand. Increased localization of components and government policies supporting EV adoption are further enhancing market prospects.

Middle East & Africa

region is experiencing modest but steady growth in the automotive shocks and struts market. The market is supported by increasing vehicle ownership rates, urbanization, and growing investment in the automotive sector. In 2023, vehicle registrations in the Gulf Cooperation Council (GCC) countries exceeded 1.2 million units. Harsh climatic and terrain conditions in countries like Saudi Arabia, UAE, and South Africa create a heightened need for durable and reliable suspension systems. SUV and pickup trucks dominate sales in this region, driving the demand for high-performance shocks.

List of Top Automotive Shocks and Struts Companies

GKN
Tenneco
ZF
KYB
Magneti Marelli
Bilstein
Monroe
Fox
KONI

Tenneco: which owns the Monroe brand, holds a leading position in the global market. In 2023, it accounted for more than 15% of global OEM and aftermarket sales in shocks and struts. The company offers a broad product portfolio that serves over 25 OEMs worldwide and operates more than 90 manufacturing facilities globally.

KYB: Corporation, based in Japan, had a global production output exceeding 60 million shock absorbers in 2023. It is the largest supplier in the Asia-Pacific region and serves OEMs like Toyota, Honda, and Nissan. The company operates manufacturing facilities in more than 10 countries and maintains a robust aftermarket distribution network.

Investment Analysis and Opportunities

The automotive shocks and struts market is witnessing robust investment activities driven by technological advancements, electrification, and expansion into emerging markets. In 2023, over USD 2.5 billion was invested globally in R&D and capacity expansion for suspension systems, with a focus on lightweight materials and adaptive damping technologies. OEMs and Tier-1 suppliers are aligning their capital allocation strategies toward digital control systems and integration of sensors in suspension components. One of the most significant opportunities lies in the shift toward electric vehicles. EVs have different weight distributions and design requirements compared to internal combustion engine vehicles, demanding customized suspension systems. Over 14 million EVs were sold globally in 2023, and this number is expected to rise substantially, driving higher demand for innovative shocks and struts tailored for EV platforms. Geographically, Southeast Asia, Latin America, and Eastern Europe are becoming attractive destinations for manufacturing investments due to lower labor costs and improving supply chain logistics.

Countries like Vietnam, Mexico, and Poland have announced national strategies to become automotive component manufacturing hubs, offering tax incentives and subsidies. For instance, Vietnam’s government allocated over USD 1 billion in 2023 toward EV infrastructure and local manufacturing capabilities. Additionally, smart factory investments are gaining momentum. Companies are incorporating automation and IoT technologies to enhance production efficiency and product traceability. In 2024, ZF Friedrichshafen AG announced a USD 180 million investment into its Hungary facility to support adaptive suspension systems for European OEMs. The aftermarket segment also presents investment opportunities. With the average vehicle age increasing globally—13.6 years in the U.S. as of 2023—consumers are spending more on maintenance and replacement parts. The global aftermarket for shocks and struts is expanding with more than 500 million vehicles in operation requiring regular suspension servicing. E-commerce platforms and digital sales channels are also opening new avenues for investment. Online B2B and B2C sales for automotive parts grew by over 18% in 2023, with companies like KYB and Monroe enhancing their direct-to-consumer capabilities. Investments in supply chain digitization, predictive maintenance, and ride optimization software are becoming essential for long-term profitability in this market.

New Product Development

Product innovation is a key growth driver in the automotive shocks and struts market. In recent years, manufacturers have focused on integrating smart technologies and sustainability into product designs. In 2023, over 75 new shock and strut models were introduced globally, many featuring electronically controlled damping and adjustable ride settings. Adaptive suspension systems are among the most notable advancements. These systems utilize sensors and onboard electronics to adjust damping levels in real time based on road conditions and driving behavior. Tenneco launched its Monroe Intelligent Suspension system in 2023, enabling dynamic ride control and enhancing vehicle safety. This system is being adopted by major European luxury brands and is projected to be installed in over 1 million vehicles by 2025. Another breakthrough includes the use of lightweight composite materials to replace traditional steel components. Companies like ZF and Bilstein are experimenting with carbon fiber and aluminum-based housings, which reduce weight by up to 30% without compromising durability. Lighter shocks contribute to overall vehicle efficiency and are especially beneficial for EVs where weight savings translate into extended range.

KYB introduced its Electronic Power Steering-compatible shock absorbers in 2024, designed specifically for hybrid and electric vehicles. These shocks feature electronic control units that sync with vehicle control systems for enhanced handling. Similarly, KONI launched its Active Technology line in 2023, which automatically adjusts rebound damping for improved comfort and control. Eco-friendly products are also entering the market. Magneti Marelli unveiled a fully recyclable shock absorber in 2024, using biodegradable fluids and sustainable materials. This aligns with increasing regulatory and consumer pressure for greener automotive solutions. Furthermore, companies are focusing on modularity to improve maintenance and assembly times. Fox launched a modular coilover system for light trucks in North America, which simplifies installation and supports customization for off-road applications. The integration of ride quality monitoring apps and sensor-embedded shocks is another emerging trend. These smart shocks allow drivers and fleet operators to monitor suspension health in real time, reducing the risk of failure and optimizing vehicle uptime. The commercial vehicle sector, especially fleet and logistics operators, is expected to adopt these technologies extensively in the next few years.

Five Recent Developments

Tenneco expanded its Monroe Ride Control plant in Spain in 2023, increasing production capacity by 20% to meet European OEM demand.
KYB partnered with BYD in 2024 to supply advanced suspension systems for their electric passenger car lineup across Asia and Europe.
ZF launched its next-gen Continuous Damping Control (CDC) system in 2023, implemented in several premium German vehicles.
Bilstein opened a new testing facility in the U.S. in 2024, investing USD 45 million to accelerate R&D in adaptive off-road shocks.
Fox Factory released a new line of performance shocks in early 2024 for electric pickups, compatible with models from Rivian and Tesla.

Report Coverage of Automotive Shocks and Struts Market

The report provides a comprehensive analysis of the global automotive shocks and struts market, segmented by type, application, region, and key players. It includes detailed insights into product innovation, regional demand variations, and competitive landscape, offering a granular view of the sector’s evolution from 2021 to 2024. Coverage includes both OEM and aftermarket segments, with data on production volume, unit sales, and replacement cycles. For instance, it was observed that approximately 85% of vehicle shocks and struts require replacement after 80,000–100,000 kilometers, fueling aftermarket demand. The report also highlights the rising role of electrification in altering suspension design, with over 30 new EV models adopting electronically controlled dampers between 2022 and 2024. The segmentation analysis dives into the performance of shocks and struts in passenger and commercial vehicles. In 2023, over 320 million passenger vehicles were equipped with struts globally, while commercial trucks saw higher demand for heavy-duty twin-tube shocks.

This segmentation is complemented with market behavior across North America, Europe, Asia-Pacific, and the Middle East & Africa, with quantified data on production and vehicle registrations. Key competitive intelligence is provided for major market players, profiling their global footprint, product lines, production volumes, and recent strategic initiatives. The report outlines how consolidation is shaping the market, with Tier-1 suppliers accounting for over 70% of total shock and strut volumes. Moreover, the report details investment trends, including the USD 1.2 billion spent globally in 2023 on automated production lines, smart factory upgrades, and sustainable materials. Technological advancements, such as the introduction of sensor-embedded struts, modular designs, and ride monitoring systems, are also featured as critical factors impacting future market dynamics. By examining macroeconomic trends, regulatory influences, and OEM strategies, the report equips stakeholders with actionable insights into market opportunities, product development pathways, and geographic expansion strategies within the automotive shocks and struts industry.