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Published by linker 5
Posted on February 16, 2021
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
Drivers
Restraints
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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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