UK Shock Absorber Market , By Installed Vehicles

Growth Outlook

• The UK Shock Absorber Market , By Installed Vehicles market is on a steady long-term growth path. Segment value stands at roughly USD 446 Mn in 2021 and is projected to reach USD 760 Mn by 2030 — a gain of about 70% over the forecast period, translating to a CAGR in the mid-single digits.
• The UK Shock Absorber market has witnessed tremendous demand in recent years, driven by the increasing need for replacement parts in the automotive sector. Shock absorbers are a crucial component of vehicle suspension systems, responsible for controlling the impact and vibrations caused by uneven surfaces.
• What the regional split looks like (2021): D-Segment leads, holding roughly 38% of segment value — the single largest regional share. C-Segment is the second-largest contributor. B-Segment, E-Executive Segment and A-Segment make up the remainder, in descending order.
• By 2030, D-Segment alone is expected to reach USD 304 Mn, with C-Segment at USD 222 Mn.

Market Dynamics

The UK Shock Absorber market has witnessed tremendous demand in recent years, driven by the increasing need for replacement parts in the automotive sector. Shock absorbers are a crucial component of vehicle suspension systems, responsible for controlling the impact and vibrations caused by uneven surfaces. As such, they play a vital role in ensuring a safe and comfortable driving experience for vehicle occupants. One of the main drivers of demand for shock absorbers in the UK is the significant number of vehicles in operation. The country has a large and well-developed automotive industry, with an estimated 40.4 million cars registered for use on the roads in 2020. With such a significant number of vehicles, the demand for shock absorbers remains consistently high, as these components are subject to regular wear and tear and require replacement over time. Another factor contributing to the demand for shock absorbers in the UK is the increasing average age of vehicles on the roads. According to a report by the Society of Motor Manufacturers and Traders (SMMT), the average age of cars in the UK is now 8.4 years, with many vehicles staying on the road for longer due to improved durability and reliability.

As these cars age, their shock absorbers are more likely to fail, resulting in increased demand for replacement parts. The popularity of electric and hybrid vehicles in the UK has also led to a surge in demand for shock absorbers, although the impact on the overall market remains relatively small. As these vehicles have different suspension systems and components, it has created a niche market for specialized shock absorbers, specifically designed for electric and hybrid models. In addition to the replacement market, the demand for shock absorbers in the UK is also driven by the production and sale of new vehicles. The country has a well-established automotive manufacturing sector, with brands such as Jaguar, Land Rover, and Mini producing vehicles with high-quality suspension systems. Moreover, the market has seen a rising trend towards premium and luxury vehicles, which typically have more advanced and costly shock absorbers, further contributing to market demand. Overall, the demand for shock absorbers in the UK remains strong and is expected to continue rising in the future.

With a large number of vehicles in operation, aging car population, and a thriving automotive industry, the market for shock absorbers is likely to remain a profitable and attractive one for manufacturers and suppliers.

Research Methodology

Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2024.