According to a new market research report published by Credence Research “Global Motorcycle Suspension System Market (Motorcycle Type (Standard Bike, Sports, Cruiser, Scooters and Others); Product types (Front Suspension System and Rear Suspension System); Technology( Active and Passive); Sales Channels (OEMs and Aftermarket) – Growth, Future Prospects and Competitive Analysis,2019 – 2027”, the overall motorcycle suspension system worldwide was valued at US$1.52 Bn in 2018 and is set to grow with a CAGR of 4.8% during the forecast period.
Market Insights
The key factor that drives the growth of motorcycle suspension system market includes the high consumption of two-wheelers and increased demand for comfort in the motor bikes. The several OEMs manufactures are majorly adopting the suspension system to provide the comfort and the safety to the motor bikes. They are more affordable than the four-wheelers or other vehicles. Thus, this rapidly expanding the two-wheelers sales is escalating the growth of motorcycle suspension system market. In addition, the growing disposable income in emerging countries such as India, China, and others are likely to promote the growth of motorcycle suspension system market.
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Moreover, the stability, comfort, performance, and safety offered by the motorcycle suspension system are propelling the growth of motorcycle suspension system market worldwide. However, the increasing motorbike prices are hampering the growth of motorcycle suspension system market, especially in the low and medium economical countries. Furthermore, the integration of new and advanced electronic technologies in motorcycles are projected to serve numerous opportunities in the market in the upcoming years.
The motorcycle suspension system market is segmented on the basis of motorcycle type, product type, technology, and sales channels. Based on the technology, the global motorcycle suspension system market is bifurcated into passive and active. The passive suspension system is majorly used across the vehicles to control the vertical motion of the vehicles. The improved comfort and road holding offered by the passive technologies are augmenting the market growth in this segmented. Furthermore, by sales channels, the market is segmented into OEMs and Aftermarket. Additionally, on the basis of product types, the market is subdivided into a front suspension system and a rear suspension system.
Asia Pacific holds the largest market share of approximately 48% in the motorcycle suspension system market. The growing adoption and implementation of advanced motorcycle suspension system in the sports and race bikes are driving the growth of motorcycle suspension system in Asia Pacific region. The presence of major manufacturing and high consumption of motor bikes in Asia Pacific is contributing to the growth of the motorcycle suspension system market in this region. Furthermore, Europe holds the second largest market share in the motorcycle suspension system market owing to the high demand of motor bikes and motorcycle safety systems.
The key players in the global motorcycle suspension system market incudes SHOWA CORPORATION, Nitron Racing Shocks, BMW Group, TFX Suspension Technology, ZF Friedrichshafen AG, BITUBO S.r.l., RST Suspension, Mupor Srl., Traxxion Dynamics, Mupor Srl, WP AG, SHOWA CORPORATION, Nitron Racing Shocks, BMW Group, WP AG, and others.
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By Motorcycle Type Segment (2017–2027; US$ Bn)
- Standard Bike
- Sports
- Cruiser
- Scooters
- Others
By Product Types Segment (2017–2027; US$ Bn)
- Front Suspension System
- Rear Suspension System
By Technology Segment (2017–2027; US$ Bn)
- Active
- Passive
By End User Segment (2017–2027; US$ Bn)
- OEMs
- Aftermarket
By Geography Segment (2017–2027; US$ Bn)
- North America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America
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