According to the recent study, the motorcycle suspension system market is expected to register moderate growth during the forecast period owing to the increasing frequency of suspension replacement, growing population, and increased demand for comfort is expected to drive the growth of the market.
Proliferating Two-Wheeler Sales to fuel Growth of the OEM Manufacturing Units
A notable rise in the sales of two-wheelers around the world is propelling the growth of OEM manufacturing units in the motorcycle suspension system market. Lower fuel emissions, increasing efficiency, relative affordability, and convenient maneuverability are some of the vital reasons that have been instrumental in the burgeoning sales of two-wheelers around the world. The expanding two-wheeler market is anticipated to aid OEM manufacturers in gaining more than half of the motorcycle suspension system market share.
Another vital reason behind the substantial rise in revenue generated by OEMs is the presence of leading multinational OEM brands in developing regions. Further, the per capita rise in the disposable income of the population in the region is causing a surge in the demand for high-powered scooters and motorcycles. The growth of the electric bike sector in the European region is also estimated to boost the demand for motorcycle suspension systems.
OEMs continue to bank on using passive suspension systems in two-wheelers owing to their simple design and durability. Demand for independent front suspension is estimated to remain high in the foreseeable future owing to the system providing an assortment of benefits such as better handling, steering, cornering, and stability while providing more comfort while riding the bike. In addition to this, its lightweight components do not add additional mass to the vehicle.
APEJ to Remain at the Forefront of the Motorcycle Suspension System Market Growth
Bolstering industrial production, developing economies, and a steady proliferation of the automotive industry in APEJ are estimated to drive the growth of the motorcycle suspension system market in the region. The factors are anticipated to make APEJ the biggest market for the motorcycle suspension system market both in terms of volume and value. The motorcycle suspension system market in the Western European region is expected to steadily gain traction on the back of anticipated growth in the manufacturing and evolving automotive sector in the area. The motorcycle suspension system market is expected to grow at a moderate rate in the other regions around the world.
India and ASEAN are expected to outpace North America and Eastern Europe in terms of the development of production facilities in the region. Owing to this, the growth of the motorcycle suspension system market in these regions is estimated to be slower than the proliferation of the market in the other areas around the world.
Leading Players look to Focus on Expansion in the Aftermarket
The motorcycle suspension system market remains highly consolidated with the top leading players accounting for 60% to 70% of the market share. Companies continue to focus on launching innovative products to gain an edge over their contenders in the motorcycle suspension system market. In addition to this, leading players are working towards expanding their market presence in the aftermarket especially targeting the South East Asian zone due to an assortment of lucrative opportunities on offer in the region. Other strategies followed by companies to expand their footprint in the motorcycle suspension system market include extending their services worldwide to capitalize on the growing demand. For instance, Indian-based motorcycle suspension system manufacturers plan to substantially increase exports to Australia, Europe, and North America to leverage the growing demand for suspension systems in these regions.
Some of the key players operating in the motorcycle suspension system market are Duro Shox Pvt. Ltd., BMW Motorrad, Gabriel India Ltd., KYB Corporation, Progressive Suspension Inc., Nitron Racing Shocks, ZF Friedrichshafen AG, SHOWA Corporation, K-Tech Suspension, Inc., WP-Group, Ohlins USA, Nitron Racing Shocks, BITUBO S.r.l., Tractive Suspension, ABE Bike Engineering, RST Suspension, Traxxion Dynamics, Mupor Srl, and Marzocchi Moto.
Additional Questions Answered in the Report
Apart from the aforementioned insights, the report answers the following vital questions about the motorcycle suspension system market:
- How has the motorcycle suspension system market performed in the recent past?
- How will the motorcycle suspension system market fare in the foreseeable future both in terms of value and volume?
- What are the key trends that impact the growth of the motorcycle suspension system market?
- What are the vital market dynamics prevalent in the motorcycle suspension system market?
- What are the key micro and macroeconomic industry facets that influence the motorcycle suspension system market growth?
- What are the key challenges that the motorcycle suspension market is facing?
- What are the lucrative opportunities on offer in the motorcycle suspension system market?
- What strategies do leading market players follow to maintain their consolidation in the motorcycle suspension system market?
- What level of competitiveness is prevalent in the motorcycle suspension system market and how has it changed during the years?
The recently released study by Fact.MR titled ‘Motorcycle Suspension System Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018-2028’ provides in-depth and valuable insights into the motorcycle suspension system market. The report offers a comprehensive assessment of all the different market segments which include market dynamics, competition analysis, value chain, pricing analysis, industry growth analysis, and thorough analysis on the regional growth of the market on the basis of different segments. A detailed opportunity assessment has also been included in the report in addition to the profiling of leading players operating in the motorcycle suspension system market.
Motorcycle Suspension System Market – Executive Summary
The executive summary of the report provides brief yet affluent information of the market which helps readers familiarize with the motorcycle suspension system market. A brief market overview along with market analysis and exclusive recommendations from Fact.MR analysts have been included in the report. The report has been segmented into different chapters to help readers develop a holistic understanding of the motorcycle suspension system market. A thorough forecast of the motorcycle suspension market has also been provided in the report. The report on the motorcycle suspension system market also sheds light on key trends, insights, opportunities, restraints, drivers, threats, and challenges in the market. Each section of the report provides a detailed qualitative and quantitative assessment of the different market segments.
Motorcycle Suspension System Market – Segmentation
The motorcycle suspension system market has been segmented on the basis of product type, sales channel, motorcycle type, region, and technology. On the basis of product type, the market has been divided into front suspension and rear suspension. Based on the sales channel, the motorcycle suspension system market has been divided into OEM and aftermarket. On the basis of motorcycle type, the market can be divided into standard, sports, cruiser, mopeds, scooters, and others. Based on technology, the motorcycle suspension system market can be divided into mono and twin. Based on the region, the market has been divided into Latin America, North America, Eastern Europe, Japan, MEA, Western Europe, and Japan. Each of the segments has been thoroughly analyzed and the report offers a detailed analysis of the past along with an accurate and authentic forecast of the performance of each category identified under each segment. Volume, value, and Y-o-Y growth of each of the listed segments has been provided in the report.
Motorcycle Suspension System Market – Competitive Landscape Assessment
A detailed competitive landscape assessment of the motorcycle suspension system market has been provided towards the end of the report. All the leading players operating in the market are identified under this section with a detailed profile view of each of the companies highlighting their strengths, weaknesses, product portfolio, market presence, global footprint, the revenue share of the market, and notable business developments. The information provided under this section can help stakeholders and business professionals streamline their strategies to gain maximum profitability by tapping into the extensive consumer bases of leading market players.
Motorcycle Suspension System Market – Research Methodology
The robust and elaborate research methodology employed during the compilation of the report has been thoroughly explained under this section. A two-step research process involving primary and secondary research phases was followed to unravel the detailed insights presented in the report. Thorough company case studies coupled with interviews with industry savants formed the basis of primary research while secondary research was conducted by studying trade journals, paid sources, company press releases, and other industry publications. Results from both the phases of research were triangulated to create an authentic and accurate forecast of the motorcycle suspension system market.
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