A notable rise in the sales of two-wheelers around the world is propelling the growth of OEM manufacturing units in the motorcycle suspension system market. Lower fuel emissions, increasing efficiency, relative affordability, and convenient maneuverability are some of the vital reasons that have been instrumental in the burgeoning sales of two-wheelers around the world. The expanding two-wheeler market is anticipated to aid OEM manufacturers in gaining more than half of the motorcycle suspension system market share.
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Another vital reason behind the substantial rise in revenue generated by OEMs is the presence of leading multinational OEM brands in developing regions. Further, the per capita rise in the disposable income of the population in the region is causing a surge in the demand for high-powered scooters and motorcycles. The growth of the electric bike sector in the European region is also estimated to boost the demand for motorcycle suspension systems.
OEMs continue to bank on using passive suspension systems in two-wheelers owing to their simple design and durability. Demand for independent front suspension is estimated to remain high in the foreseeable future owing to the system providing an assortment of benefits such as better handling, steering, cornering, and stability while providing more comfort while riding the bike. In addition to this, its lightweight components do not add additional mass to the vehicle.
Bolstering industrial production, developing economies, and a steady proliferation of the automotive industry in APEJ are estimated to drive the growth of the motorcycle suspension system market in the region. The factors are anticipated to make APEJ the biggest market for the motorcycle suspension system market both in terms of volume and value. The motorcycle suspension system market in the Western European region is expected to steadily gain traction on the back of anticipated growth in the manufacturing and evolving automotive sector in the area. The motorcycle suspension system market is expected to grow at a moderate rate in the other regions around the world.
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India and ASEAN are expected to outpace North America and Eastern Europe in terms of the development of production facilities in the region. Owing to this, the growth of the motorcycle suspension system market in these regions is estimated to be slower than the proliferation of the market in the other areas around the world.
The motorcycle suspension system market remains highly consolidated with the top leading players accounting for 60% to 70% of the market share. Companies continue to focus on launching innovative products to gain an edge over their contenders in the motorcycle suspension system market. In addition to this, leading players are working towards expanding their market presence in the aftermarket especially targeting the South East Asian zone due to an assortment of lucrative opportunities on offer in the region.
Other strategies followed by companies to expand their footprint in the motorcycle suspension system market include extending their services worldwide to capitalize on the growing demand. For instance, Indian-based motorcycle suspension system manufacturers plan to substantially increase exports to Australia, Europe, and North America to leverage the growing demand for suspension systems in these regions.
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