As per Future Market Insights, the global automotive performance tuning and engine remapping services market growth is estimated to attain a valuation of US$ 586.22 million in 2023. The market is expected to reach US$ 1,100 million by 2033, rising at a CAGR of 6.4%.
As Europe’s major stockholder, both the United Kingdom and Germany are seeing increased demand for passenger and light commercial vehicles. During the forecast period, the markets of the United Kingdom and Germany are expected to develop at CAGRs of 5.9% and 6.1%, respectively.
Manufacturers have been steadily expanding their consumer base in the United Kingdom in recent years. Within Germany, demand is likely to rise as the German automobile industry expands. As the number of vehicles on the road increases, drivers in the country are looking for high-performance vehicles.
Request a Sample of this Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-6443
The market growth is expected to be driven by increasing demand for high-powered and finely tuned engines, the implementation of advanced techniques to improve fuel consumption, and a reduction in operational costs. The market has promising growth opportunities due to the widespread popularity of customizing and remapping commercial and passenger vehicles, the increasing demand for aftermarket maintenance and service, and technological advancements aimed at enhancing the operational efficiency of vehicles.
In recent years, there has been a notable rise in consumer preference for high-power engines, particularly in diesel variants. Alongside this trend, consumers have become increasingly knowledgeable about the advantages and potential drawbacks of engine remapping. Due to this, the automotive performance tuning and engine remapping services industry is witnessing a significant rise in demand. Many new vehicle models now benefit from successful remapping services, effectively addressing issues related to exhaust gas recirculation (EGR) systems.
Vehicle owners are searching for automotive performance tuning and engine remapping services as a appropriate means to extend the lifespan of their vehicle engines. In general, ECU tuning is considered an affordable option. Market players are witnessing substantial revenue generation, particularly in the passenger and light commercial vehicle segments. Even with higher costs, consumers’ growing inclination to invest in high-performance vehicles, particularly luxury and high-end models, is creating new opportunities in the automotive performance tuning and engine remapping services market.
Key Takeaways
- United States automotive performance tuning and engine remapping services market is expected to grow with a CAGR of 6.2% during the forecast period.
- The market in China is expected to grow with a CAGR of 6.5% during the forecast period.
- By vehicle type, the passenger vehicle segment is projected to grow with a significant CAGR of 6.6% during the forecast period.
- The market in India is expected to grow with a CAGR of 6.3% throughout the forecast period.
“Rising consumer preference for high power engine and fine tuning of vehicles is expected to drive market growth during the forecast period,” comments an FMI Analyst
Get Your Report Customize, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-6443
Competitive Landscape
The automotive performance tuning and engine remapping services market is intensely competitive, with several key industry players investing heavily in providing these services.
The key industry players are Tuning works Inc., Quantum Tuning Ltd., Shift Performance, VIEZU Technologies LTD, ABT Sports line GmbH, Roo Systems, Turbo Dynamics Ltd, EcuTek Technologies Ltd., Emaps Performance, CODE 6 Tuning, LAYTON REMAPS & PERFORMANCE, Wolf Moto, Revolution Automotive, SLT Remapping & Diagnostics LTD.
Some recent developments in the market are:
Key industry players are utilizing organic growth strategies like acquisitions, mergers, tie-ups, and collaboration to bolster their product portfolio. This is expected to propel the global automotive performance tuning and engine remapping services market.
- In May 2023, ABT Sportsline, a renowned tuner specializing in Audi and VW Group vehicles, introduces the limited-edition ABT RS6 Legacy Edition (LE). With only 200 units available, this high-performance sports car combines striking design with practicality for everyday use, captivating automotive enthusiasts with its exceptional features.
- The “ABT China” joint venture, which was announced in February 2023, is gaining momentum. The first project of ABT China and GAC, the GAC Empow R x ABT co-brand version, has been officially launched at Auto Shanghai 2023, held from April 18-27, 2023.
- On March 23, 2022, ABT Sportsline achieved an impressive 450 horsepower from the iconic five-cylinder engine. The SUV coupé Formentor, representing the independent CUPRA brand, showcases a captivating blend of dynamic and elegant design that leaves a lasting impression even at a standstill.
Ask the Analyst:
https://www.futuremarketinsights.com/ask-question/rep-gb-6443
Key Segments Profiled in the Automotive Performance Tuning and Engine Remapping Services Industry Survey
By Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Fuel Type:
- Petrol
- Diesel
By Tuning Stage:
- Stage 1
- Stage 2
- Stage 3
By Tuning Method:
- OBD Ports
- Bench Tuning
By Application:
- Racing
- Fuel Economizing
- Performance Tuning
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
