Global two-wheeler suspension market is projected to witness a CAGR of 4.9% during the forecast period 2024–2031, growing from USD 2.01 billion in 2023 to USD 2.95 billion in 2031. Increased traffic dynamics and the craze for two-wheeler motorcycles and scooters are fueling the market growth.
Furthermore, the increased penetration of two-wheeler brands and companies in foreign lands is garnering market growth. The growth is attributed to the increased demand for two-wheelers from Asian economies like India and China. The roads in these countries are usually full of traffic and hence, the lack of space pushes end-users to adopt the two-wheeler technology. Higher reliability, safety, mileage, maneuverability, easy parking options, convenience, and affordability are some of the major growth drivers for the two-wheeler suspension market. The major moto brands are unraveling new suspension technology that allows the rider to get ultimate comfort while saving the Moto component from getting damaged.
In July 2023, BMW GmBH introduced its new next-generation electronic suspension “SAF Next”. The suspension is expected to be installed first in the company’s R1300 GS. The suspension comes with two spring rates and provides seat height adjustment to the rider.
Real-Time Adjustments and Machine Learning-Driven Suspensions to Fuel the Market
The growth is driven by higher motorcycle exports, brand awareness, different motorcycle segments, and comfort ride demand. New electric and hybrid 2-wheelers are coming with a sophisticated suspension that offers a comfortable ride. Lower per capita income in the developing Southeast Asian nations contributes to the growth. Two-wheelers are the main mode of transportation for the citizens of these countries. Moreover, motorcycle suspension parts are in high demand as they support the bike’s body to provide the highest level of comfort and a jerk-free ride. Hence, new vendors are experimenting with existing suspension technology and improving it to the highest level. The latest addition to moto suspensions is the integration of smart technology.
For instance, in July 2023, Hero launched the Xtreme 160R with upgraded suspension. It introduced a new set of 37mm upside-down (USD) forks on the front while retaining an adjustable 7mm Showa rear mono-shock. The new combination will provide improved handling and steering control in the XTreme 160R.
Increasing Moto Sport and Rising Traffic to Propel Market Growth
The growth of the two-wheeler suspension system market is attributed to the changed consumer behavior and increased fuel prices. Furthermore, the rising population and traffic levels are fueling the popularity of motorcycles among the public. Higher reliability, comfort, and handling make motorcycles an effective way of transport in dense population areas. Increasing focus on motorcycle adventures and road trips among the youth segment is estimated to fuel the demand for motorcycles and scooters in the coming years. Also, the demand for scooters is significantly increasing owing to their easy handling, good stability, and low-price range as compared to conventional motorcycles. The electric scooters are upgrading their suspension with the latest developments.
For instance, in March 2023, Ola recalled its S1 scooter to fix the front fork suspension issue while offering a free upgrade. The EV manufacturer invited its customers to schedule an appointment at the nearest Ola Experience center to get the update.
Get Research report: https://www.marketsandata.com/industry-reports/two-wheeler-suspension-market
Government Subsidies and Higher Investments to Flourish Market Growth
The government’s subsidies to electric moto manufacturers along with the advanced moto parts manufacturers are garnering market growth. The government adds the importance of suspension in its road and vehicle safety guidelines. Furthermore, the government is discarding vehicles with old suspensions and pushing manufacturers to comply with the latest additions. The number of accidents due to failed suspensions has increased over the years. Furthermore, the government subsidizing the electric two-wheeler is increasing the sales of motorcycles, scooters, and mopeds. The increased sales of these vehicles are contributing to the increasing demand for advanced vehicles. While many countries are limiting the subsidies, some nations are still widening the subsidy access to their citizens.
For instance, in August 2023, the Indonesian government expanded public access to USD 458 as a subsidy to buy an electric motorcycle after the lack of sales. The Southeast Asian nation, with a population of 270 million people and one of the largest users of motorcycles in the world, has received 2,429 applications, which is 1.2% below the 200,000 unit target for the year.
Telescopic Suspension is the Leading Segment of the Market
Based on product type, the telescopic front suspension segment performs significantly well. The factors attributed to the exceptional performance are its lightweight and advanced design that absorbs major jerks and heavyweight. The rest of the vehicle is cut from point to point and all the vehicle’s energy is absorbed by the fork, extending the life of various components. The forks are better because air is compressible, and the energy absorbed goes into the compressed air. While rear suspensions are majorly used to keep the bike on the ground and maintain traction, telescopic suspensions help deliver stability, control, and smooth rides. It comprises two sections including the outer tube and inner tube. The system works with fork oil to deliver resistance to the spring. Modern-age motorcycles are using this type of suspension for better design and vehicle control.
For instance, in November 2023, Honda introduced its CB350 motorcycle with a new fuel tank, mudguards, and shrouded RSU telescopic front suspension. These advanced suspensions help the motorcycle to carry the weight while letting it maintain its retro look.
Asia-Pacific Dominate Two-Wheeler Suspension Market
The high population density, low prices of motorcycles and scooters, and increasing traffic make two-wheelers the most popular mode of transportation in Asia-Pacific. The growth is attributed to the presence of alternate manufacturers and their high production capacity to produce automotive parts. The region is home to many original equipment manufacturers (OEMs) and aftermarket dealers, which adds to the high demand for 2-wheeler suspension systems in countries such as China and India. Also, the increasing number of start-up companies are introducing electric two-wheelers, adding value to the regional market. The native automotive players are experimenting with the suspension system of their flagship rides.
For instance, In July 2023, Japan’s Yamaha Corporation updated its Tracer9 GT with KYB’s (KYB Corporation) semi-active suspensions. The upgrade was made to deliver better performance and smooth ride as it is a grand tourer. The suspension is semi-active and adjusts to the suspension settings to lower pitch or squat to keep things stable.
Download Free Sample : https://www.marketsandata.com/industry-reports/two-wheeler-suspension-market/sample-request
Future Market Scenario (2024–2031F)
· Better mileage, convenience, comfort, faster mobilization, and easy handling make two-wheelers the first choice. The adoption of these vehicles fuels the two-wheeler suspension market.
· Electric two-wheelers are getting popular among customers due to their lower emissions; government subsidies and affordability are also helping the market grow.
· Collaboration between brands and automotive parts companies is increasing the sales of two-wheeler suspension systems. The major focus on smooth trails is reshaping the market dynamics.
· The presence of OEM retailers, repairing facilities, and third-party companies together provides a long list of options for consumers.
Report Scope
“Two-Wheeler Suspension Market Assessment, Opportunities, and Forecast, 2017–2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global two-wheeler suspension market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
Trending Reports:
https://www.marketsandata.com/industry-reports/doppler-ultrasound-market
https://www.marketsandata.com/industry-reports/intraocular-lens-market
