Growing two-wheeler sales coupled with worsening transport infrastructure and growing fuel prices around the world are expected to bolster the growth of the motorcycle suspension systems market. A recent study released by Fact.MR estimates that the factors will aid the growth of the global motorcycle suspension system market which is anticipated to cross the US$ 1.5 million valuation mark in 2020.
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.
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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.
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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.
Recent times have seen a comprehensive increase in the sales of two-wheelers around the world which, in turn, is boosting the demand for suspension systems. A substantial increase in the demand for two-wheelers can be attributed to the absence of last mile connectivity to rural areas. In addition to this, the relative affordability of two-wheelers makes this form of transportation an attractive option for consumers which has given rise to a trend of having multiple two-wheelers in a single household. Further, increasing traffic congestion is making commutation lengthy when opting for traveling in four-wheelers. Owing to these factors and the growing prices of fuel, consumers are gradually shifting to using two-wheelers for their commute.
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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.
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