The two-wheeler suspension system market is anticipated to grow at a CAGR of 4.9% from 2023 to 2033, with its value increasing from USD 1.65 billion in 2023 to USD 2.61 billion by 2033. This growth is driven by factors such as rising traffic, the expanding vehicle population, and advancements in technology. Moreover, emerging economies are generating more revenue from vehicle exports as advanced manufacturing facilities are established.
Two-wheelers are increasingly preferred for their superior fuel efficiency, convenience, comfort, quick mobility, and ease of handling. The affordability of both these vehicles and their suspension systems further supports market growth.
The growing popularity of electric two-wheelers, driven by their low emissions, government incentives, and cost-effectiveness, also contributes to the expansion of the market. Collaborations between brands and automotive parts manufacturers are bolstering sales of two-wheeler suspension systems. Additionally, the focus on providing smooth riding experiences is transforming market trends.
Consumers benefit from a variety of choices, thanks to the presence of OEM retailers, repair centers, and third-party companies, all of which are fueling market expansion.
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Key Takeaways from the Two Wheeler Suspension System Market Report:
- The United States market leads the two wheeler suspension system market in terms of market share in North America. This region is expected to hold a market share of 4.8% by 2023. The growth in this region is attributed to increased traffic, people getting aware of sustainable ways of transport, high affordability, and brands.
- Germany’s two wheeler suspension system market is another significant market in Europe region. The market holds a market share of 2.1% in 2023. The growth is attributed to the collaboration between automotive brands and part manufacturers along with the government working on electric two wheelers.
- China two wheeler suspension system market thrives at a CAGR of 5.4% during the forecast period. The growth is attributed to the big two-wheeler vehicle population, average per capita income, and high traffic.
- The telescopic front suspension system leads the component type segment as it holds a market share of 40.6% in 2023. The growth is attributed to the high response and enhanced shock control.
- Based on the vehicle type, the motorcycle segment leads as it holds a significant global share of 58.2% in 2023.
Competitive Landscape:
The key vendors work on key elements like reliability, high safety, comfort, and long shelf life. Furthermore, the electric vehicle suspension is being designed differently. Key competitors merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Leading Key Players:
- Showa Corporation
- Gabriel India Limited
- KYB Corporation
- Duro Shox Pvt Ltd
- BMW Group
- WP AG
- Nitron Racing Shocks
- Marzocchi Moto
- Öhlins Racing
- K-Tech Suspension Limited
- Progressive Suspension, Inc.
- TFX Suspension Technology
- BITUBO S.r.l.
- ZF Friedrichshafen AG
- Diamond International Pvt. Ltd.
- Ridon Auto Parts Co.
- Badve Engineering Group
- Zedling Suspension
Recent Developments:
- BMW Group with its BMW Motorrad has introduced the suspensions with optimal on all road experience. These suspensions involve duolever, single-sided swing arm, telelever, dynamic ESA, WAD spring element, and USD fork.
- Duro Shox Pvt Ltd has launched their two & three-wheeler shock absorber with attractive design and effective spring control.
Two Wheeler Suspension System Market Segmentation:
By Product Type:
- Telescopic Front Suspension
- Rear Suspension
- Mono Shocks
- Dual Shocks
By Sales Channel:
- OEM
- Aftermarket
By Vehicle Type:
- Motorcycles
- Scooters
- Mopeds
By Region:
- North America
- The United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- The United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- Middle East Asia
- GCC Countries
- Israel
- South Africa
- Rest of Middle East Asia (MEA)
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