Shock Absorber Oil Market Report 2025 (Global Edition)

Global Shock Absorber Oil Market Report 2025 Market Size Split by Type (Mineral Oil Type, Synthetic Oil Type), by Application (Motorcycle, Automobile, Mechanical Equipment, Others), by Distribution Ch...

Shock Absorber Oil Market Report Description

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Shock Absorber Oil Market Insights Video

Competitive Landscape of the Shock Absorber Oil Market

The Shock Absorber Oil Market Report examines both existing and rising companies in the market. It provides broad lists of important companies organized by the types of products they offer and other market-related factors. In addition to characterizing these companies, the report contains the year each player entered the market, which is useful for research analysis by the study's analysts.

According to the International Organization of Motor Vehicle Manufacturers, worldwide vehicle production increased dramatically from 77,438,570 units in 2020 to 93,546,599 units in 2023, influencing the expansion of the shock absorber market. (Source: https://www.oica.net/category/production-statistics/2020-statistics/ )

In March 2021, The Volkswagen Group announced a 10-year, $1.25 billion arrangement with Mando Corp. to supply 50 million suspension systems for its forthcoming EVs and well-known vehicles. (Source: https://annualreport2022.volkswagenag.com/group-management-report/results-of-operations-financial-position-and-net-assets/financial-position.html )

Top Companies Market Share in Shock Absorber Oil Industry: (In no particular order of Rank)

• ENEOS
• Shell Plc
• ELF Lubricants
• BP
• Exxon Mobil
• Liqui Moly
• Motorex
• Hindustan Petroleum
• Motul
• Eastern Petroleum
• Eni
• ADDINOL Lube Oil
• Waxpol
• Penske Racing Shocks
• Jumbo Oil
• Öhlins
• Drivol
• Fuchs Lubricants
• Canroyal
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Shock Absorber Oil Market

Which Region Dominates the Shock Absorber Oil Market in 2024?

According to Cognitive Market Research, North America currently dominates the Shock Absorber Oil market, and the region is expected to have significant growth during the projected period. North America has one of the highest rates of vehicle ownership globally, leading to a strong demand for replacement and aftermarket shock absorbers and their associated oils.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The Asia Pacific region, particularly China and India, is experiencing rapid growth in automobile production. This surge in vehicle manufacturing directly translates into increased demand for shock absorber oil.

The current report Scope analyzes Shock Absorber Oil Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Shock Absorber Oil Market Analysis

According to Cognitive Market Research, the global Shock Absorber Oil market size was estimated at USD xx Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD xx million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Shock Absorber Oil market with a market size of USD xx million in 2024 and is projected to grow at a CAGR of 3.0% during the forecast period. The US market consistently witnesses a steady increase in vehicle sales, both new and used..
• The Canada Shock Absorber Oil market had a market share of USD xx million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. Canada has a robust automotive industry, with a significant number of vehicle manufacturers and assembly plants.
• The Mexico Shock Absorber Oil market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD xx million in 2024.

Europe Shock Absorber Oil Market Analysis

According to Cognitive Market Research, the global Shock Absorber Oil market size was estimated at USD xx Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD xx million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2031.

• The United Kingdom Shock Absorber Oil market had a market share of USD xx million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period. The UK has a high rate of vehicle ownership, and as the population grows and incomes rise, the demand for cars is expected to increase further.
• The France Shock Absorber Oil market is projected to witness growth at a CAGR of 2.7% during the forecast period, with a market size of USD xx million in 2024.
• According to Cognitive Market Research, the German Shock Absorber Oil market size was valued at USD xx million in 2024 and is projected to grow at a CAGR of 3.7% during the forecast period. As the German vehicle fleet ages, there is an increasing need for maintenance and repairs, including the replacement of shock absorbers and their associated oil.
• The Italy Shock Absorber Oil market is projected to witness growth at a CAGR of 2.9% during the forecast period, with a market size of USD xx million in 2024.
• The Russia Shock Absorber Oil market is projected to witness growth at a CAGR of 2.5% during the forecast period, with a market size of USD xx million in 2024.
• The Spain Shock Absorber Oil market is projected to witness growth at a CAGR of 2.6% during the forecast period with a market size of USD xx million in 2024
• The Luxembourg Shock Absorber Oil market is projected to witness growth at a CAGR of 3.6% during the forecast period, with a market size of USD xx million in 2024.
• The Portugal Shock Absorber Oil market is projected to witness growth at a CAGR of 3.3% during the forecast period, with a market size of USD xx million in 2024.
• The Greece Shock Absorber Oil market is projected to witness growth at a CAGR of 3.8% during the forecast period, with a market size of USD xx million in 2024.
• The Rest of Europe's Shock Absorber Oil market is projected to witness growth at a CAGR of 2.2% during the forecast period, with a market size of USD xx million in 2024.

Asia Pacific Shock Absorber Oil Market Analysis

According to Cognitive Market Research, the global Shock Absorber Oil market size was estimated at USD xx Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD xx million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Shock Absorber Oil market size was valued at USD xx million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period. Rapid urbanization and infrastructure development projects.
• The Japan Shock Absorber Oil market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD xx million in 2024.
• The India Shock Absorber Oil market had a market share of USD xx million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period. Advancements in shock absorber technology, such as the development of electronically controlled suspension systems, are contributing to the growth of the shock absorber oil market.
• The South Korean Shock Absorber Oil market is projected to witness growth at a CAGR of 6.1% during the forecast period, with a market size of USD xx million in 2024.
• The Australian Shock Absorber Oil market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD xx million in 2024.
• The South East Asia Shock Absorber Oil market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD xx million in 2024.
• The Rest of Asia Pacific Shock Absorber Oil market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD xx million in 2024.

South America Shock Absorber Oil Market Analysis

According to Cognitive Market Research, the global Shock Absorber Oil market size was estimated at USD xx Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD xx million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Shock Absorber Oil market size was valued at USD xx million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. Brazil is undergoing rapid urbanization, leading to a surge in demand for vehicles for commuting, transportation of goods, and personal use.
• Argentina's Shock Absorber Oil market had a market share of USD xx million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. Argentina has been experiencing a steady increase in automobile sales in recent years, fueled by economic growth and rising consumer confidence.
• Colombia Shock Absorber Oil market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD xx million in 2024.
• Peru Shock Absorber Oil market is projected to witness growth at a CAGR of 4.6% during the forecast period, with a market size of USD xx million in 2024.
• Chile Shock Absorber Oil market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD xx million in 2024.
• The Rest of Latin America's Shock Absorber Oil market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD xx million in 2024.

Middle East Shock Absorber Oil Market Analysis

According to Cognitive Market Research, the global Shock Absorber Oil market size was estimated at USD xx Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD xx million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.

• The GCC Countries Shock Absorber Oil market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD xx million in 2024. With rising incomes and a growing middle class, vehicle ownership rates have been on the rise in the GCC.
• The Egypt Shock Absorber Oil market is projected to witness growth at a CAGR of 5.0% during the forecast period, with a market size of USD xx million in 2024.
• The South Africa Shock Absorber Oil market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD xx million in 2024. South Africa's road infrastructure can be challenging, leading to premature wear and tear on vehicle components, including shock absorbers.
• The Turkey Shock Absorber Oil market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD xx million in 2024.
• The Nigeria Shock Absorber Oil market is projected to witness growth at a CAGR of 3.8% during the forecast period, with a market size of USD xx million in 2024.
• The Rest of the MEA Shock Absorber Oil market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD xx million in 2024.

Shock Absorber Oil Market Analysis

Shock Absorber Oil Market Type Segment Analysis

According to Cognitive Market Research, mineral oil type is likely to dominate the Shock Absorber Oil Market over the forecast period. This is the traditional type of shock absorber oil that has been used for many years. Mineral oils are derived from crude oil and are typically less expensive than synthetic oils. They offer adequate performance for most vehicles under normal driving conditions but may not provide the same level of protection and performance as synthetic oils.

The Synthetic Oil Type is the fastest-growing segment in the Shock Absorber Oil Market. This type of oil is chemically engineered to provide superior performance and durability compared to mineral oils. Synthetic oils offer better resistance to extreme temperatures, reduced viscosity variations, and improved protection against oxidation and corrosion. They are generally more expensive than mineral oils but are often preferred for high-performance vehicles and demanding driving conditions.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Shock Absorber Oil Industry. Request a Free Sample PDF!

Shock Absorber Oil Market Application Segment Analysis

According to Cognitive Market Research, the Automobile segment holds the largest share of the market. The global automotive industry continues to expand, driven by factors such as increasing urbanization, rising disposable incomes, and advancements in technology. This growth directly translates into higher demand for shock absorbers and, consequently, shock absorber oil.

In the Shock Absorber Oil Market, the Motorcycle sector has been expanding at a rapid pace. The growth of the motorcycle market, especially in developing countries, directly impacts the demand for shock absorber oil. As more people purchase and use motorcycles, the need for maintenance and replacement of components, including shock absorber oil, increases.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Shock Absorber Oil Distribution Channel Segment Analysis

Shock Absorber Oil Market Distribution Channel Segment Analysis

According to Cognitive Market Research, The Offline segment holds the largest market share. Customers frequently like to personally inspect things before purchase, particularly when it comes to automotive parts. Offline dealers can offer experienced advice and recommendations tailored to the customer's vehicle and driving conditions. Customers may often get shock absorber oil from offline locations without having to wait for shipping.

In the Shock Absorber Oil market, the rapidly growing sector is the Online category. Consumers benefit from the convenience and accessibility of online purchasing, which allows them to buy shock absorber oil from the comfort of their own homes. Online shops frequently provide competitive prices since their overhead costs are lower than those of traditional brick-and-mortar stores. Online marketplaces offer a broader range of shock absorber oil options, allowing customers to select from a variety of brands, kinds, and viscosities.

• Online
• Offline

Shock Absorber Oil End-user Segment Analysis

Shock Absorber Oil Market End-user Segment Analysis

According to Cognitive Market Research, the OEM segment dominates the market. OEMs have a major presence in the shock absorber oil industry. They are manufacturers who provide components directly to automobile manufacturers for assembly. OEMs frequently design proprietary shock absorber oil formulas to match the specific needs of their suspension systems. These formulations may include performance-enhancing additives like anti-wear agents, viscosity modifiers, and antioxidants.

Aftermarket supplier is projected to be the fastest-growing segment in the Shock Absorber Oil market. These suppliers specialize in producing and selling shock absorber oil for the aftermarket. They provide a diverse assortment of items to meet the needs of various vehicle types and performance levels. Distributors and retailers, including automobile parts stores and online merchants, buy shock absorber oil from OEMs and independent suppliers and sell it to consumers. They play an important role in reaching a large customer base.

• OEM
• Aftermarket supplier

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Sumedha Gosavi

Research Associate at Cognitive Market Research

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