Growing two-wheeler sales coupled with worsening transport infrastructure and growing fuel prices around the world are expected to bolster the growth of the motorcycle suspension systems market. A recent study released by Fact.MR estimates that the factors will aid the growth of the global motorcycle suspension system market which is anticipated to cross the US$ 1.5 million valuation mark in 2020.
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Innovative
and advanced suspension system designs are expected to play a key role
in fuelling the growth of the market. Growing awareness about road
safety coupled with an increasing demand for comfort while riding has
prompted manufacturers to develop enhance suspension designs that aid in
enhancing the performance of vehicles as well. One of the key focus
areas that manufacturers are eyeing is the development of lightweight
suspension systems. For instance, Showa launched the new dual blending
valve front fork suspension system to replace the full cartridge fork
assembly. The cost-effective blending valve offers performance similar
to cartridge type assembly while reducing the overall weight of the
suspension system by approximately 250 grams.
On similar lines,
Australian company Motorcycle Innovations announced the successful
production of a new suspension system which leverages the
two-wheeled-in-line vehicle geometry. The newly developed suspension
system delivers the perfect blend of performance and stability and will
replace the traditional telescopic forks. The new suspension system will
function by keeping the front wheel in line with the suspension
geometry, unlike the traditional telescopic fork system that creates
slop and flexes. Another key development in the segment is BMW
Motorrad’s Duolever front suspension system. The technology that forms
the basis of the Duolever front suspension system provides a superior
road grip which, in turn, helps in improving the riding accuracy and
precision.
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Booming Two-wheeler Sales to Prove a Vital Revenue Pocket for the Market
Recent
times have seen a comprehensive increase in the sales of two-wheelers
around the world which, in turn, is boosting the demand for suspension
systems. A substantial increase in the demand for two-wheelers can be
attributed to the absence of last mile connectivity to rural areas. In
addition to this, the relative affordability of two-wheelers makes this
form of transportation an attractive option for consumers which has
given rise to a trend of having multiple two-wheelers in a single
household. Further, increasing traffic congestion is making commutation
lengthy when opting for traveling in four-wheelers. Owing to these
factors and the growing prices of fuel, consumers are gradually shifting
to using two-wheelers for their commute. Another key factor that is
causing a burgeoning in the demand for two-wheelers are the added
features to improve the overall performance of these vehicles. Improved
mileage, low maintenance cost, and larger fuel tanks are some of the
value-added features that are luring in an increasing number of new
consumers.
Motorcycle Suspension System Market Remains Highly Consolidated with Leading Players Holding the Bulk of Market Share
The
Fact.MR report opines that the motorcycle suspension system market is
highly consolidated with leading suspension system manufacturers holding
the bulk of the market share. The report estimates that the leading
market players account for over 50% of the motorcycle suspension system
market share. Innovative product launches, improved performance, and
development of lightweight suspension systems are the key strategies
being followed by leading market players. Further, key market players
intent to invest in APEJ anticipating a comprehensive increase in the
demand for two-wheelers in the region. Introduction of technology to
streamline supply chain and effectively reach out to consumers are some
of the other strategies being adopted by leading market players.
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