The motorcycle suspension system market is projected to expand at CAGR of 5% over the projected period, 2019-2029. The market growth can be primarily attributed to increase in preference towards motorcycles and scooters in contrast to four-wheelers as well as increasing prices of gasoline.
“New entrants at regional and global levels can attain rich benefits by centring on aftermarket sales and replacement, depending upon on the new trend of customizing and retrofitting motorcycles.” says an FMI analyst.
Motorcycle Suspension System Market – Key Highlights
- ASEAN nations will come out as a lucrative region for market players over the forecast period.
- Passive technology will remain lucrative throughout the forecast period in the global market.
- Scooters are likely to dominate the market owing to widely preferred by all age cohort, especially aged citizens, females, and teenagers.
- OEMs sales channels will remain key beneficiary among other channels throughout the forecast period.
Motorcycle Suspension System Market – Drivers
- Growing prices of natural gas and gasoline are acting as a driver for the global market throughout the forecast period.
- Presentation of advanced attributes, for instance, electronic controlled suspension systems in motorcycles and conventional scooters are fueling the market expansion.
- Increase in consumer inclination towards comfort and safety while traveling or driving in a vehicle will reflect lucrative growth prospects in the market.
Motorcycle Suspension System Market – Restraints
- Higher cost of replacements and the maintenance are projected to impede the market expansion
- Regular maintenance is essential such as oil changes and replacement of rubber seal are hamper the market expansion.
COVID-19 Impact on the Market
COVID-19 pandemic adversely impacted the motorcycle suspension system market by directly impacting production and demand by supply chain disruption, together with its financial consequences on firms. However, with letup in lockdown, players are choosing several measures to deal with the present scenario such as OEMs have establish disinfectant chambers at the plant, bring out mandatory use of PPE’s, begin periodic sanitization, in addition to made social distancing standards-imperative as directed by the Government. Furthermore, to determine the security of the prospective customers, dealerships and participants will embrace digitization.
Competitive Landscape
Key companies active in the global motor suspension system market are TFX Suspension Technology, BITUBO S.r.l., K-Tech Suspension Limited, SHOWA CORPORATION, BMW Group, Progressive Suspension, Inc.,Duro Shox Pvt Ltd., WP AG, Öhlins Racing, Marzocchi Moto, Nitron Racing Shocks, KYB Corporation, Gabriel India Limited and ZF Friedrichshafen AG. Market players are growing their product portfolio to fulfill all kinds of vehicles to improve their presence in the competitive automotive sector. Several players are using high tension raw materials to produce motorcycle shock absorbers with a purpose to enhance fuel economy and ride quality.
Request a report sample to gain comprehensive market insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-3105
About the Study
The study offers readers a comprehensive assessment of the motorcycle suspension system market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of Product (Front Suspension{Telescopic Fork and Others} and Rear Suspension{Dual Shocks, Mono Shocks and Others), Sales Channel(OEMs and Aftermarket), Technology(Passive and Active/Semi-active), Motorcycle (Standard, Cruiser, Sports, Scooter, Mopeds and Others), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).