The global automotive performance tuning and engine remapping service market is predicted to grow at 6.3% CAGR throughout the period (2021-2031). A key factor enabling is high effectiveness of performance tuning and engine remapping in engine performance improvement, says ESOMAR-certified consulting firm Future Market Insights (FMI) in its study. Engine remapping increases power and torque by reprogramming vehicles electronic control unit. Automakers prefer performance tuning to cater the rising power demand thus driving the sales for automotive performance tuning and engine remapping service market.
According to the study, the vehicle owners are becoming more aware about the perks of engine remapping and are actively seeking high powered diesel engines. Such tendencies are driving the performance tuning and engine remapping service market demand.
“Soaring popularity of chip tuning among automotive enthusiasts and racers in developing nations is encouraging market players to collaborate with regulated remapping service dealers in developing countries. This partnership will elevate the market sale in long term,” remarks the FMI analyst.
Key Takeaways
- North America is forecast to show exception growth on the back of increasing tread of passenger vehicle customization.
- Thriving automotive industry in UK and Germany coupled with surging demand for high performance vehicles will drive the market sales.
- India automotive market is offering impressive growth opportunities with prospering luxury car customization sector.
- Proliferation of automotive manufacturing sector in China is propelling the automotive performance tuning and engine remapping service market growth to new heights.
- Consistent technological innovation and emergence of new market players will elevate the performance tuning and engine remapping service market growth.
Prominent Drivers
- Rising demand of high powered and fine-tuned engines will fuel the automotive performance tuning and engine remapping services market sales.
- Application of advance techniques for improving engine fuel consumption and to reduce operating cost will assist in improving market growth.
- Growing popularity of customizing and remapping commercial and passenger vehicles will significantly boost the market growth.
Key Restraints
- Automotive performance tuning and engine remapping services are very expensive. High cost of services will hamper the market growth.
- Engine remapping puts a lot of stress on the engine, severely affecting the fuel efficiency. Loss of mileage impedes the market growth.
- Large capital investment requirements for automotive performance tuning and engine remapping services deter the market growth.
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Competitive Landscape
Leading players profiled by FMI operating in automotive performance tuning and engine remapping service market include Tuning works Inc., ABT Sports line GmbH, Turbo Dynamics Ltd, Quantum Tuning Ltd., Emaps Performance, VIEZU Technologies LTD, Roo Systems, EcuTek Technologies Ltd., Shift Performance. According to FMI, automotive performance tuning and engine remapping service market is dominated by regional players offering cost effective services. With rising vehicles sales, many players are partnering with distributors to expand their supply chain and strengthen their market position.
More Insights on FMI’s automotive performance tuning and engine remapping service market
The latest market study on global automotive performance tuning and engine remapping service market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of vehicle type (Passenger cars, light commercial vehicles, heavy commercial vehicles), fuel type (petrol, diesel), tuning stage (stage 1, stage 2, stage 3), and across major regions (North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).