Future Market Insights has released a new market study on “Motorcycle Suspension System Market: Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2028”, which studies the global Motorcycle Suspension System market and offers deep dive analysis for the next ten years. The report evaluates all the key macro-economic factors projected to support the growth of the global as well as regional markets. The report on Motorcycle Suspension System also presents the challenges or restraints in the global market along with the latest trends and perceptive opportunities for all the market participants across the value chain.
The global Motorcycle Suspension System market was valued at US$ 1,269.4 Mn in 2013 and is anticipated to be valued at US$ 1,479.1 Mn by 2018 end. The market is expected to grow at a prominent CAGR of 4.4% between 2018 and 2028 and is estimated to reach a global value of US$ 2,284.1 Mn by 2028 end. Furthermore, the global Motorcycle Suspension System market is estimated to create an incremental $ opportunity of US$ 804.9 Mn over the forecast period.
Motorcycle Suspension System Market Dynamics
The lifespan of a Motorcycle Suspension System depends on the driving conditions of the two wheeler and road infrastructure. In good road conditions, Motorcycle Suspension System exhibits an operational lifespan of five to seven years. However, regular maintenance is required such as replacement of rubber seal and oil changes. On the flip side, in bad road conditions, the total operational life of Motorcycle Suspension System declines and regular maintenance is required, which in turn boosts the aftermarket segment in the global market. Road conditions in Poland, Indonesia, Vietnam, Brazil and Philippines are poor; therefore, in these countries, the potential for the aftermarket segment is projected to be medium to high in the global Motorcycle Suspension System market.
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Two wheelers, especially motorcycles and bikes, find a wide range of applications in logistics and e-commerce sectors at present in almost all Asian countries. They have been increasingly used for operations such as shipping and transportation of mobile goods. The growing output of the e-commerce industry is expected to be one of the most significant drivers for the sale of motorcycles and will, in turn, fuel the growth of the Motorcycle Suspension System market. Additionally, the availability of auto-loans to purchase these transportation units is also expected to boost sales across the APEJ region over the forecast period. These factors will directly propel the demand for Motorcycle Suspension System in the automotive industry. Also, the growing consumer inclination towards safety and comfort while driving or traveling in a vehicle is estimated to remain one the most lucrative drivers for the ascendant growth of the global Motorcycle Suspension System market.
Motorcycle Suspension System Market Forecast
By region, the APEJ region is estimated to dominate the global Motorcycle Suspension System market. The APEJ Motorcycle Suspension System market is expected to gain 30 BPS between 2018 and 2028. Moreover, the region is estimated to remain a high growth market throughout the forecast period. It is projected to grow with a CAGR of 4.5% over the forecast period, primarily owing to the increasing production of two wheelers.
By motorcycle type, in terms of volume and value, the standard segment is estimated to lead the global Motorcycle Suspension System market throughout the forecast period. For the scooters segment, Europe is one of the most lucrative regions as the region accounts for almost 46% of motorcycle sales. The standard Motorcycle Suspension System market is expected to create an incremental $ opportunity of US$ 437.2 Mn between 2018 and 2028 in the global Motorcycle Suspension System market.
By product type, in terms of volume, the rear suspension segment is estimated to be pegged at 45,329.7 ‘000 units in 2018. This segment is expected to grow with a CAGR of 3.7% between 2018 and 2028 in the global Motorcycle Suspension System market. The front suspension segment is projected to create an incremental $ opportunity of US$ 361.2 Mn over the forecast period.
By technology segment, FMI forecasts that the active/semi-active Motorcycle Suspension System segment is projected to reach US$ 267.3 Mn in 2028 from US$ 185.5 Mn in 2018, representing a compound annual growth rate (CAGR) of 3.7% from 2018 to 2028.
By sales channel, the OEM Motorcycle Suspension System segment represents US$ 1,039.5 Mn or a 67.6% share as of 2018 and is estimated to expand with a CAGR of 4.7% to reach US$ 1,575.9 Mn in 2028, or a 69.0% share of the global Motorcycle Suspension System market. The aftermarket segment is estimated to grow with a prominent CAGR in countries with poor or moderate road infrastructure.
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Motorcycle Suspension System Market Competitive Landscape
Some of the prominent market participants involved in the manufacture of Motorcycle Suspension System, which have been included in the study, are Gabriel India Ltd., ZF Friedrichshafen AG, SHOWA CORPORATION, KYB Corporation, Duro Shox Pvt Ltd., Progressive Suspension, Inc., BMW Motorrad, BITUBO S.r.l., Öhlins USA, TFX Suspension Technology, K-Tech Suspension Limited, Nitron Racing Shocks, Marzocchi Moto and WP-Group, among others.