Global Hydraulic (Industrial) Shock Absorbers Market – Introduction
- Industrial or hydraulic shock absorbers are used as hydraulic devices to slow down moving loads with minimal machine load. The speed slows down as the shock absorber is compressed.
- Hydraulic shock absorbers are designed to absorb 100% of shocks without any vibrations.
- Industrial or hydraulic shock absorbers work through a series of throttle bores or metering holes by restricting the flow of oil. The industrial shock absorber works on the principal of converting kinetic energy into thermal energy. In addition, when the piston rod is pushed into the cylinder, oil is displaced through the metering hole or throttle bore which are gradually closed off. Gradually, the speed decreases as the industrial shock absorber is compressed, providing the lowest possible reaction force.
- Industrial or hydraulic shock absorbers are highly suitable for reducing maintenance cost of machines in automotive, aerospace and defense, mechanical, and other industries, due to its light weight, faster speed, and easy installation.
- Hydraulic shock absorbers are designed to improve material handling applications with smoother operation and operator comfort. Some of the features of hydraulic shock absorbers include stopping any type of motion such as rotary, rolling, free-falling, sliding, and straight-line.
- Industrial shock absorbers are used to increase the life of machines or equipment, and also to provide a safe and healthy working environment for employees.
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Global Hydraulic (Industrial) Shock Absorbers Market – Dynamics
Key Drivers of the Hydraulic (Industrial) Shock Absorbers Market
- The global hydraulic (industrial) shock absorbers market is projected to expand in the near future due to the growth in the global automotive industry in developed and developing countries. Additionally, increasing demand for comfort in automobiles and for automobiles is projected to drive the growth of the industrial shock absorbers market over the next few years. Besides, hydraulic shock absorbers are used to enhance the controllability and drivability of luxury vehicles in rough road conditions.
- Furthermore, rising automation in factories, automotive, medical, and pharmaceutical industries is expected to drive the demand for hydraulic shock absorbers globally.
- The growing packaging and material handling industry across the world is projected to drive the growth of the hydraulic shock absorbers market.
North America to Hold Significant Share of the Global Hydraulic (Industrial) Shock Absorbers Market
- North America is anticipated to constitute significant share of the global hydraulic (industrial) shock absorbers market during the forecast period due to expansion in automotive, and aerospace and defense industries in the region.
- Manufacturing industries in developed and developing countries are focusing on manufacturing components and parts using hydraulic (industrial) shock absorbers so as to provide a high operational safety margin. This in turn is one of the major factors expected to drive the global hydraulic (industrial) shock absorbers market in the next few years.
- The hydraulic (industrial) shock absorbers market in Europe is expected to expand significantly due to the rising growth of pharmaceutical and automotive sectors in the region.
- Asia Pacific is expected to witness significant growth in this market because of the rising automation in pharmaceutical & medical sectors.
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Global Hydraulic (Industrial) Shock Absorbers Market –Competition Landscape
Key Players Operating in the Global Market
The global hydraulic (Industrial) shock absorbers market is highly concentrated with the top manufacturers accounting for approximately 35% to 40% share. Key players operating in the global hydraulic (Industrial) shock absorbers market include:
- ACE Controls Inc.
- BIBUS AG
- Modern Industries, Inc.
- Universal Power Conversion, Inc.
- Weforma Dämpfungstechnik GmbH
- Slam Proof Ltd.
- Parker Hannifin Corporation.
- KYB Corporation.
- Pennar Industries Limited
- ZIMMER GROUP
Global Hydraulic (Industrial) Shock Absorbers Market – Research Scope
The global hydraulic (industrial) shock absorbers market can be segmented based on:
- Product type
- Thread size
- Distribution channel
Global Hydraulic (Industrial) Shock Absorbers Market, by Product Type
Based on product type, the global hydraulic (industrial) shock absorbers market can be divided into:
- Adjustable Shock Absorber
- Non-adjustable Shock Absorber
Global Hydraulic (Industrial) Shock Absorbers Market, by Thread Size
On the basis of thread size, the global hydraulic (industrial) shock absorbers market can be classified into:
- Miniature shock absorber
- Mega-Line shock absorber
- Heavy shock absorber
Global Hydraulic (Industrial) Shock Absorbers Market, by Distribution Channel
In terms of distribution channel, the global hydraulic (industrial) shock absorbers market can be classified into:
- Direct Sales (OEM)
- Indirect Sales
Global Hydraulic (Industrial) Shock Absorbers Market, by Application
Based on application, the global hydraulic (industrial) shock absorbers market can be categorized into:
- Plastic Bottle Making
- Blow Molding
- Automotive Manufacturing
- Assembly Line Conveyors
- Pick & Place Robotics
- Material Handling
- Overhead crane
Global Hydraulic (Industrial) Shock Absorbers Market, by Industry
In terms of industry, the global hydraulic (industrial) shock absorbers market can be divided into:
- Aerospace and defense
- Factory Automation
Global Hydraulic (Industrial) Shock Absorbers Market, by Region
Based on region, the global hydraulic (industrial) shock absorbers market can be split into:
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.