MR Dampers Market Size, Share, Growth, And Industry Analysis, By Type (Active Damper and Semi Active Damper), By Application (Automotive, Industrial Suspension and Others), Regional Forecast To 2031

Updated On: 15 April 2024

MR Dampers Market Report Overview

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global mr dampers market size was USD 52 million in 2022 and market is projected to touch 93.01 Million by 2031, exhibiting a CAGR of 6.5% during the forecast period.

A magnetorheological liquid is used by an MR damper to regulate its damping ratio. It is a kind of viscous damper. Iron particles embedded in the solution, which is often oil-based, are present. The fluid's viscosity rises whenever a magnetic force is added since the aligned particles bind to the field. Due to the fact that it inhibits the fluid from passing through the damper's valves too readily, the rise in viscosity enables improved dampening effectiveness. Due to the greater degree of flexibility they provide compared to conventional hydraulic dampers, the dampers are frequently employed in vehicle industries. With increased control over the way the car responds to various driving situations, the ride quality may be more individually tailored.

MR dampers are utilized in many different industries, such as the automotive, aviation, and civil works, to give the best vibrations and impact protection. Due to the rising demand for more sophisticated and effective suspension systems across a spectrum of uses, the MR industry is expanding. The need is also being fueled by an increase in infrastructure projects, an increase in infrastructure demand, and a desire to reduce the environmental effect of building and commuting. The market for dampers is expanding as a result of both technological developments as well as the creation of more affordable production techniques.

COVID-19 Impact: Disruptions in the International Supply Network Caused a Decrease in Demand for MR

The COVID-19 epidemic, which has impacted numerous MR-using businesses, has had an effect on the market for MR. Due to interruptions in international supply networks, decreased production, and a fall in consumer spending, the epidemic decreased need for the dampers in 2020. The market is anticipated to rebound, though, as the world begins to recover from the outbreak, as businesses begin to produce again and consumption for dampers grows.

Latest Trends

"R&D Spending to Create Lightweight Components to Lower Emissions"

In order to increase the effectiveness and functionality of these dampers, lower costs, and broaden their range of uses in various sectors, there is constant research and improvement in the MR dampers sector. For instance, to decrease the total mass of the dampers, which can aid increase fuel efficiency and decrease emissions, the dampers are being built utilizing lightweight components such as carbon fiber, aluminum, and magnesium.

MR Dampers Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Active Damper and Semi Active Damper

• By Application Analysis

Based on application, the market can be divided into Automotive, Industrial Suspension and Others

Driving Factors

"Industry is Growing Due to Rising Demand in Seismic Zones and the Automotive Sector"

Rising need for high-performance automobiles is being seen in emerging market economies, especially in Latin America and Asia Pacific. Demand for MR is also rising for projects involving infrastructure construction such as bridges, roadways, and high rises, particularly in seismic zones in which dampers can help enhance the safety and sturdiness of constructions during seismic events as well as other environmental catastrophes. These factors will aid in expanding the MR dampers market growth during the forecast period.

"Benefits Offered by MR in Vehicles Compared to Traditional make them a Better Alternative"

MR dampers can offer more vibration and impact protection than traditional dampers, which improves management, convenience, and safety during the ride. These dampers not only produce powerful vibrations but are also very adjustable, enabling accurate real-time modulation of the damping force. This gives the damper the ability to quickly adapt to altering road or environmental factors, further improving vehicle handling.

Restraining Factors

"Lack of Awareness and Standardization are Factors Interrupting the Industry Expansion "

Since MR dampers are a fairly new concept, some sectors and geographical areas might not be as familiar with or knowledgeable about their advantages and potential uses. Furthermore, the dampers are not currently standardized, which might make it challenging for businesses to compare their goods and guarantee interoperability with other systems. These dampers are also more costly than standard dampers, which may prevent them from being widely used in various sectors and purposes.

MR Dampers Market Regional Insights

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"Presence of Key Players and Growth of the Automotive Sector are Driving the Regional Market"

The MR dampers market share during the predicted period is anticipated to be led by North America. As a result of significant high-performance aerospace and automotive industry demands in the area, as well as the existence of key market competitors. In addition, the market is being driven by the significant growth in the automotive sector for sophisticated suspension systems. The region's market for dampers is also being influenced by the expanding infrastructural development projects underway in the region.

Key Industry Players

"Key Players Focus on Partnerships and Investing in R&D to Gain a Competitive Advantage"

The MR industry's competitors are making a variety of moves to strengthen their competitive position in the market. Businesses are investing in R&D to increase the dampers' performance and effectiveness as well as to develop innovative products for novel uses. In order to expand their network infrastructure and penetrate new markets, market participants are also forging strategic alliances and partnerships with other businesses. Additionally, organizations are providing value-added services to their customers including setup, upkeep, and repairs, which can strengthen client relationships and boost client retention.

List of Market Players Profiled

• BWI Group (China)
• LORD Corporation (U.S.)
• Arus MR Tech (India)

Report Coverage

This report covers the MR dampers Market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.