The suspension system on a motorcycle has two purposes: it improves handling and braking performance and protects the rider from noise, vibrations, and bumps, all while enhancing comfort and safety. A typical motorcycle has two or one shock absorber on the swing arm for the rear suspension and two fork tubes for the front suspension. It is anticipated that the motorcycle suspension market would grow rapidly in the near future.
Global Motorcycle Suspension System Market Driving Factors and Challenges
The significant rise in the number of suspension replacements for historic cars is expected to fuel growth in the motorbike suspension systems industry. Additionally, factors including population expansion, rising per capita income, and increased demand for high-power motorcycles have a beneficial effect on the motorcycle suspension systems industry. However, it's predicted that market growth would be constrained by the high cost of replacement and maintenance during the duration of the forecast. Furthermore, the adoption of lightweight components in passive suspension systems is expected to present many opportunities for market expansion.
A significant challenge for the motorbike suspension system is the expensive cost of developing intricate designs and high-performing electrical parts. Advances in vehicle technology allowed for the use of robust, lightweight, energy-efficient, and trustworthy electrical components that could work optimally with minimal power loss. The increased comfort and relaxation of the voyage can be attributed in large part to these factors. Because system designers and developers are always working on new technologies, a lot of automobile systems are being electrified.
Impact of COVID-19 on Global Motorcycle Suspension System Market
The COVID-19 outbreak has harmed the automotive, transportation, and other related businesses. The global spread of the COVID-19 virus, which provoked lockdowns, has resulted in an unprecedented number of border closures around the world. This disruption in the global supply chain has had a negative impact on the automobile sector. People's capacity to travel was hampered by the spread of this pandemic. When wage cuts or job losses were considered, consumer purchasing power was also reduced. Limitations on the number of workers at the production site also had an effect on the supply side of the market. Each of the aforementioned factors has had a negative impact on the motorcycle suspension market.
Motorcycle Suspension System Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Bayerische Motoren Werke AG, Duroshox Pvt. Ltd., Endurance Technologies Ltd., Fox Factory Holding Corp., Hero MotoCorp Ltd., K Tech Suspension Ltd., KYB Corp., Matris Srl, Mupo Srl, Nitron Racing Systems Ltd., Penske Racing Shocks, PIERER Mobility AG, Tenneco Inc., ZF Friedrichshafen AG.
Global Motorcycle Suspension System Market Segmentation:
By Product Type: Based on the Product Type, Global Motorcycle Suspension System Market is segmented as; Front Suspension, Telescopic Fork, Rear Suspension, Dual Shocks, Others.
By Sales Channel: Based on the Sales Channel, Global Motorcycle Suspension System Market is segmented as; OEM, Aftermarket.
By Technology: Based on the Technology, Global Motorcycle Suspension System Market is segmented as; Consumer Electronics, Automotive, Industrial, Healthcare, Aerospace & Defence.
By Motorcycle Type: Based on the Motorcycle Type, Global Motorcycle Suspension System Market is segmented as; Standard, Cruiser, Sports, Scooter, Mopeds, Others.
By Region: This report also provides the data for key regional segments of North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.