The Motorcycle Suspension Systems market will be worth US$2381.6
DUBAI, United Arab Emirates, March 01, 2022 (GLOBE NEWSWIRE) — Future Market Insights (IMF) expects the motorcycle suspension systems market to reach ~US$ 2,381.6 Mn by the end of 2029 and should grow to 4.7% CAGR in the forecast period of 2022-2029.
According to the changing consumer buying behavior, the motorcycle suspension system is gaining stature as a key performance indicator of motorcycles. The growth of the motorcycle suspension systems market is directly linked to the production and the road fleet of two-wheelers.
|Motorcycle Suspension System Market Value (2021A)||US$1,655.2 million|
|Motorcycle Suspension Systems Market Estimate (2022E)||US$1,727.4 million|
|Motorcycle Suspension System Market Forecast (2029F)||US$2,381.6 million|
|CAGR Value (2022-2029)||4.7%|
|Share of collective value: top 3 countries (2022E)||44%|
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The Motorcycle Suspension Systems Market Is Expected To Reach US$2,381.6 million by the end of 2029 and is expected to grow at around 4.7% CAGR over the forecast period 2022-2029. The increasing use of motorcycles for recreational purposes leads to an increasing demand for shock absorbers for long-distance riding.
Key points of the motorcycle suspension systems market
- Establishing long-standing direct sales and supply agreements with automotive OEMs is a key winning strategy for players in the motorcycle suspension systems market.
- A suspension system is one of the few noticeable components and is gradually proving to be one of the deciding factors when buying a motorcycle.
- Nowadays, suspension systems are marketed as USPs of vehicles in new launches and advertisements by key players.
- The increase in recreational activities including off-road biking is an unprecedented opportunity for market players to launch specific suspension systems to gain competitive advantages.
- Increased traffic congestion is an unavoidable condition that leads to long switching times. This, in turn, is a key factor responsible for the inclination of customers towards motorcycles and is subsequently expected to contribute to the growth of the motorcycle suspension systems market in the coming years.
- In the current scenario, scooters are trendy compared to conventional motorcycles, due to their easy handling, good stability and low price. Scooters are preferred by all age groups, especially senior citizens, teenagers, and women.
- Motorcycle passive suspension system technology is expected to remain popular worldwide in the motorcycle suspension system market.
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|Historical data available for||2014-2021|
|Market analysis||US$ Mn for value and units for volume|
|Key regions covered||North America, Latin America, Western Europe, Eastern Europe, Asia and Pacific excluding Japan, Middle East and Africa, Japan|
|Main countries covered||United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain Italy, Poland, Russia, South Korea, ASEAN, India, China, Australia and New Zealand, GCC countries, South Africa, Turkey|
|Key Segments Covered||Product type, sales channel, technology, motorcycle type and region|
|Profiled Key Companies||• Gabriel India Limited
• ZF Friedrichshafen AG
• SHOWA COMPANY
• KYB Corporation
• Duro Shox Pvt Ltd
• BMW Group
• WP AG
• Nitron Racing shock absorbers
• Marzocchi Moto
• Öhlins race
• K-Tech Limited Suspension
• Progressive Suspension, Inc.
• TFX suspension technology
• BITUBO Srl
|Report cover||Market forecasts, company share analysis, competitive intelligence, DROT analysis, market dynamics and challenges, and strategic growth initiatives|
ASEAN countries become a growth pole for market players
The motorcycle suspension systems market is quite consolidated, with key market players such as Gabriel India Limited, ZF Friedrichshafen AG, Showa Corporation, KYB Corporation, and BMW Group accounting for a major share of the total market value.
The participation of local companies with technical license agreements with foreign brands has contributed significantly to the development of the market for the production and assembly of motorcycles in ASEAN countries.
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Major players in the motorcycle suspension systems market are targeting ASEAN countries to gain a competitive edge in Asia-Pacific. Regions such as North America and Europe have a strong preference for sport and cruiser unicycles over standard unicycles. Manufacturers can develop suspension systems targeting the premium motorcycle segment in these regions.
Rising demand for motorcycles in tier 2 cities and rural areas in developing countries in Southeast Asia and Eastern Europe is expected to fuel the growth of the motorcycle suspension systems market. Introduction of latest advanced features like electronically controlled suspension systems in conventional motorcycles and scooters is accelerating the current market scenario.
Discover FMI’s extensive ongoing automotive coverage
Motorcycle Shock Absorbers Market – Motorcycle shock absorbers have gone through a number of transitions since their invention, especially in recent years. Essential for comfort and a smooth ride as well as control enhancements, motorcycle shock absorbers are expected to see high demand in the years to come.
ABS Automotive Engine Market – Anti-lock Braking System (ABS) is an automotive braking system widely used as a major safety in automobiles that helps the vehicle maintain steering control and prevents the wheels from locking up.
Motorcycle Lighting Market – Motorcycle lighting involves the use of lighting devices for the purpose of providing visibility for motorcyclists traveling in a dark environment. The lighting solution also helps alert other drivers, drivers and pedestrians to its presence in low light and bad weather conditions.
Motorcycle Stop Start System Market – Motorcycle stop start system is an anti-idling technology based on the collaborative combination of brake, battery management and engine.
Global Automotive Wiper Motor Market – The automotive industry has witnessed rapid growth owing to the growing demand for passenger cars from Brazil, India, and China. The growth of the automotive industry largely depends on the financial flexibility choices present in different regions.
Motorcycle Fuel Hose Market – A motorcycle fuel hose is a flexible hollow tube structure with a circular cross section that is primarily designed to transport fuel from the carburetor to the engine facilitating the fuel combustion process.
Motorcycle Sensors Market – Although the trend of introducing automotive safety features in motorcycles is not entirely new, the growing concerns over driver safety are triggering the growth of the motorcycle sensors market.
Motorcycle Hub Motors Market – The major growth driver for the Motorcycle Hub Motors market is the changing preference of the general population for electric vehicles due to the awareness of Co2 emissions and their effects on Health and global warming, coupled with strict government regulations aimed at controlling CO2 emissions has triggered sales of electric motorcycles, in turn creating demand for motorcycle hub motors.
Motorcycle Side Box Market – Motorcycle side box is used as luggage box made of fiber, aluminum alloy and other materials. Standard cyclists, who travel the long distance or cycle tourism, are also installed in the side box and put the necessary luggage in the box. On many stalled bikes, a three-sided box is fitted, one on the rack and two more to the right and left of the bikes.
Motorcycle Exhaust Mounting Brackets Market – Motorcycle Exhaust Mounting Brackets are the components of motorcycle exhaust systems used to connect the exhaust system to the chassis. Motorcycle Exhaust Mounting Brackets are used to effectively hang or mount exhaust system components such as mufflers, exhaust pipes and exhaust manifolds among others.
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