Future Market Insights’ (FMI) recently published report on the global two wheeler suspension system market provides an unbiased yet exhaustive coverage on prevailing growth trends for the 2020-2030 forecast period. The study opines that the decline in demand for two wheeler suspension systems will be offset in the next couple of years due to growing preference toward personal mobility over public transport.
Despite COVID-19’s recessionary impact in the current year, manufacturers anticipate a surge in growth prospects, attributed to growing incidence of two-wheeler ownership, including scooters, bicycles and motorbikes. Hence, demand for suspension systems is likely to remain sustained in the remainder of the short-run forecast.
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- Global two wheeler suspension system market to register 4.4% value CAGR through 2030
- Mono shock rear suspension systems to surpass half-a-billion-dollar mark by 2020-end
- By vehicle type, motorcycle suspension systems to generate nearly 60% revenue by 2021
- Aftermarket sales to generate significant growth opportunities in the upcoming forecast period
- South Asia & Pacific to emerge as an attractive investment destination, with India emerging as a potential cash cow
“Increased investments in motorbikes due to their easy maneuverability and high fuel economy are anticipated to propel the two-wheeler suspension systems market forward, especially in emerging markets,” opines the FMI analyst.
COVID-19 Impact Analysis
The COVID-19 pandemic has massively disrupted the global automotive industry, leading to major supply chain impediments and decline in production targets due to government imposed shutdowns. This has significantly impacted growth prospects for the two wheeler suspension system market.
However, recent months have proven favorable for market growth. In India, for example, wholesale dispatches from two-wheeler companies to domestic market expanded by 14% in September 2020, attributed to inventory refilling by OEMs in wake of stabilizing supply chains.
Likewise, production cycles across other markets are gradually reverting to normalcy. However, while growth is expected to remain positive, sluggishness is expected to prevail until 2021-end, as manufacturers grapple with addressing vast supply-demand disequilibria.
The global two wheeler suspension system market is interspersed with the presence of numerous regional and global level players. Some prominent players include Showa Corporation, ZF Friedrichshafen AG, KYB Corporation, Endurance Technologies Limited, Gabriel India Limited, BMW Group, WP Suspension GmbH, Ohlins Racing, Duro Shox Private Ltd and Nitron Racing Shocks.
A combination of strategies, ranging from acquisitions, collaborations, capacity expansions and product launches characterize the aforementioned players’ expansion tactics. For instance, in May 2020, Endurance Technologies acquired a 100% stake in Italian company Grimeca for acquiring its braking solution business.
Around the same time, ZF Friedrichshafen AG closed its acquisition of WABCO in order to expand its commercial vehicle technology business, with the latter functioning as an independent unit of the company.
Regarding product development, WP Suspension GmbH announced the launch of its WP XPLOR 6500 Cartridge motorbike, equipped with a closed cartridge technology, providing reduced cavitation risk and high longevity to the ride.
More Insights on FMI’s Two Wheeler Suspension System Report
Future Market Insights, in its new report, offers an unbiased analysis of the global two wheeler suspension system market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the two wheeler suspension system on the basis of product type (telescopic front suspension & rear suspension), vehicle type (motorcycles, scooters & mopeds) and sales channel (OEM & aftermarket) across six prominent regions.
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Two Wheeler Suspension System Market- Report Scope
|Historical Data Available for||2015-2019|
|Market Analysis||US$ Mn for Value & Units for Volume|
|Key Regions Covered||North America, Latin America, Europe, South Asia & Pacific, East Asia, Middle East & Africa|
|Key Countries Covered||U.S., Canada, Mexico, Brazil, Germany, Italy, France, U.K., Spain, Russia, BENELUX, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Oceania, GCC, Turkey, Northern Africa & South Africa|
|Key Segments Covered||Product Type, Vehicle Type & Sales Channel|
|Key Companies Profiled||Showa Corporation, ZF Friedrichshafen AG, KYB Corporation, Endurance Technologies Limited, Gabriel India Limited, BMW Group, WP Suspension GmbH, Ohlins Racing, Duro Shox Private Ltd, Nitron Racing Shocks, Marzocchi Motor, K-Tech Suspension Limited, Progressive Suspension, Inc., TFX Suspension Technology and BITUBO Srl.|
|Report Coverage||Market Overview, Key Market Trends, Key Success Factors, Demand Analysis, Market Background, COVID-19 Impact Assessment, Segmental Analysis, Regional Profiling, Market Structure Analysis and Competitive Landscape|
|Customization & Pricing||Available upon Request|
Key questions answered in the report
- How will the two wheeler suspension systems market grow until 2030?The global two wheeler suspension system market is expected to reach US$ 2.3 Bn by 2030, owing to increasing two-wheeler ownership across emerging countries. However, a substantial blip was registered due to COVID-19 in the wake of declining output
- What drivers are likely to underpin the market growth?Growing traffic congestion problems due to rising car ownership has led vehicle owners to investigate more cost and fuel-efficient personal means of transport, leading to burgeoning motorbike sales. This is uplifting prospects for two-wheeler suspension system sales
- Which is the most lucrative two wheeler suspension system market?South Asia & Pacific is expected to attract maximum investment, particularly across India as it is the world’s largest two wheeler market. Hence, prominent manufacturers are expected to glean maximum revenue out of the South Asian economic giant in the forthcoming forecast period