Thursday, 10 December 2020 09:00 AM
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Market players are focusing on investing heavily in South Asia & Pacific region to attain maximum revenue in the coming years.
DUBAI, UAE / ACCESSWIRE / December 10, 2020 / According to Future Market Insights (FMI), the global two wheeler suspension system market is slated to expand at a CAGR of 4.4% in the forecast period, 2020 to 2030. Rising traffic congestion problems owing to growing car ownership has prompted vehicle owners to explore more fuel and cost-efficient personal means of transport, resulting in mushrooming motorbike sales. This is stirring sales prospects for two-wheeler suspension system. However, a notable drop was foreseen due to COVID-19 following a declining output.
"Increased investments in motorbikes owing to their high fuel economy and easy maneuverability are expected to push the two-wheeler suspension systems market forward, particularly in developing markets." says an FMI analyst.
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Key Highlights
- North America to remain dominant despite COVID-19 scenario in the global market.
- Mono shock rear suspension systems will foresee wide adoption due to greater stability and maneuverability than dual shock suspensions.
- Motorcycles vehicle type is expected to grow at a CAGR of 5% over the forecast period.
- Aftermarket sales will be gaining traction in the global market due to the constant need for after sales maintenance.
Drivers
- Rising traffic congestion problems experienced owing to increasing four-wheeled automobile ownership, obligating consumers to opt for quicker mobility alternatives such as two-wheeler is contributing to the market growth.
- Prolific growth in E-Commerce industry encouraging manufacturers to have diversify their product lines to incorporate two-wheelers suspension systems, thus driving market growth.
- Steady expansion of two-wheeler ownership as a result of rising fuel and gasoline prices complimenting market growth.
Restraints
- High cost associated with the system can act as a deterrent in the global market.
- Risk of breakdown might pose a challenge to the markets expansion.
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COVID-19 Impact on the Market
COVID-19 has notably impacted development prospects for the two wheeler suspension system market. On the other hand, recent months have been recognized favorable for market expansion. The production cycles across different markets are steadily returning to normalcy. However, as growth is anticipated to remain positive, sluggishness will endure by the end of 2021, as market player's tackle with addressing vast demand-supply imbalances.
Competitive Landscape
Key companies operating in the global two wheeler suspension system market are Showa Corporation, KYB Corporation, ZF Friedrichshafen AG, Gabriel India Limited, Endurance Technologies Limited, WP Suspension GmbH, BMW Group, Duro Shox Private Ltd, Ohlins Racing, Marzocchi Motor, Nitron Racing Shocks, Progressive Suspension, Inc., K-Tech Suspension Limited, BITUBO Srl and TFX Suspension Technology.
Market players are engaged on extending their geographical footprint by increasing their contract acquisitions, partnerships, collaborations and production capacities. In addition, they are presenting tailor-made products according to consumers need, therefore pulling in a wider clientele.
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About the Study
The study offers readers a comprehensive assessment of the two wheeler 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 type (telescopic front suspension & rear suspension), vehicle type (motorcycles, scooters & mopeds) and sales channel (OEM & aftermarket), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact
Mr. Abhishek Budholiya
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Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
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Report: https://www.futuremarketinsights.com/reports/two-wheeler-suspension-system-market
Press Release Source: https://www.futuremarketinsights.com/press-release/two-wheeler-suspension-system-market
SOURCE: Future Market Insights
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