The Two-wheeler suspension system market is anticipated to expand its roots at an average CAGR of 4.9% between 2023 and 2033. The market is expected to have a market share of US$ 2.61 Billion by 2033 while it is likely to be valued at US$ 1.65 Billion in 2023.
The rising traffic on the road, high vehicle population, and technological advancements are anticipated to flourish the market performance during the forecast period. Furthermore, the advanced facilities setting up their feet in emerging economies are also gaining high revenue through vehicle export.
The better mileage, convenience, comfort, fast mobilization, and easy handling make two-wheelers the first choice. The affordable prices of these vehicles and their suspension help the market thrive its way.
Electric two-wheelers are getting popular among customers due to their low emissions; government subsidies and affordability, which in turn, help the market grow.
Collaboration between brands and automotive parts companies is also increasing the sales of two-wheeler suspension systems. Furthermore, the vital focus on smooth trails is also reshaping the market dynamics.
The presence of OEM retailers and repairing facilities and third-party companies together provide a long list of options for consumers.
Key Points covered:
- 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 the 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.
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 collaborate with other companies to increase their supply chain and distribution channel.
Key Players Working in the Two-Wheeler Suspension System Market
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 Market Developments:
- BMW Group with its BMW Motorrad has introduced the suspensions with optimal on all road experience. These suspensions involve a 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.