The global automotive tuner market is anticipated to attain a valuation of US$ 6.4 billion in 2023 and is projected to reach US$ 12 billion by 2033, trailing a CAGR of 6.4% during the forecast period.
The automotive tuner market caters to enthusiasts and consumers seeking to enhance the performance, appearance, and customization of their vehicles. Tuning involves modifying various components of a vehicle, including the engine, suspension, exhaust system, and exterior aesthetics, to achieve desired performance and styling enhancements. As automotive enthusiasts seek to personalize their vehicles and improve driving dynamics, the demand for aftermarket tuning products and services continues to grow, driven by several key factors.
Key Drivers Fueling Growth in the Automotive Tuner Market:
- Performance Enhancement: Enthusiasts and performance-oriented consumers seek aftermarket tuning solutions to unlock additional horsepower, torque, and overall performance from their vehicles. Tuning upgrades such as engine remapping, turbocharger kits, high-flow exhaust systems, and performance air intakes allow drivers to optimize engine performance and achieve higher levels of acceleration, speed, and responsiveness.
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- Customization and Personalization: The desire for individuality and self-expression drives demand for automotive tuning products and accessories that allow vehicle owners to personalize the appearance and styling of their vehicles. Tuner enthusiasts customize their vehicles with aftermarket body kits, aerodynamic enhancements, custom wheels, paint schemes, and interior upgrades to create unique and eye-catching vehicles that reflect their personal taste and style preferences.
- Motorsports and Track Performance: Motorsports enthusiasts and amateur racers invest in aftermarket tuning solutions to improve the handling, stability, and track performance of their vehicles. Tuner upgrades such as suspension upgrades, brake kits, lightweight wheels, and aerodynamic enhancements enhance vehicle dynamics and cornering capabilities, allowing drivers to achieve faster lap times and better on-track performance in competitive racing events and track days.
- Technological Advancements: Advances in automotive technology and engineering drive innovation in the automotive tuner market, resulting in cutting-edge performance upgrades and tuning solutions. Digital tuning tools, engine management systems, and software-based tuning solutions enable precise calibration and optimization of engine performance parameters, maximizing power output and drivability while ensuring engine reliability and durability.
- Popularity of High-Performance Vehicles: The growing popularity of high-performance vehicles, sports cars, and enthusiast-focused models creates a lucrative market for aftermarket tuning products and services. Tuning companies and aftermarket manufacturers cater to enthusiasts of popular performance vehicles, including muscle cars, sports sedans, hot hatches, and exotic supercars, offering a wide range of tuning upgrades and customization options to enhance vehicle performance and aesthetics.
Key Takeaways
- United States automotive tuner market is expected to grow with a CAGR of 6.1% during the forecast period.
- The market in China is expected to grow with a CAGR of 6.5% during the forecast period.
- By component type, the hardware segment is projected to grow with a significant CAGR of 6.7% during the forecast period.
- The market in India is expected to grow with a CAGR of 6.4% throughout the forecast period.
“The utilization of advanced engine technology and increasing affordability of aftermarket components is expected to drive market growth during the forecast period,” comments an FMI Analyst
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Competitive Landscape
The automotive tuner market is intensely competitive, with several key industry players investing heavily in providing these services.
The key industry players are Roo Systems, EFI Live, Magic Motorsports, Edge Products, Derive Systems, Cobb Tuning, Alientech SRL, Diablo Sport, Mountune, Autotuner, AEM Electronics, Hypertech Inc., HP Tuners, Flashtec SA, Jet Performance Products.
Key industry players are utilizing organic growth strategies like acquisitions, mergers, tie-ups, and collaboration to bolster their product portfolio. This is expected to propel the global automotive tuner market.
- In April 2023, Mountune unveiled the launch of the mountune N1 engine series, a range of high-performance long-block crate engines particularly engineered for motorsport enthusiasts and professional race teams.
- In April 2022, Motul, a well renowned oil & lubricants company, initiated a technical partnership with Mountune USA.
- In May 2023, ABT Sportsline, a well-known tuner specializing in Audi and VW Group vehicles, unveiled the limited edition ABT RS6 Legacy Edition (LE).
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Key Segments Profiled in the Automotive Tuner Market Survey
Component Type:
- Hardware Component
- Software
By Vehicle Type:
- Passenger Car
- LCV
- HCV
By Fuel Type:
- Gasoline
- Diesel
By Sales Channel:
- Direct Sales
- Third Party Online Channel
- Independent Stores/Shops
- Other Sales Channel
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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