The two-wheeler suspension system market is expected to grow at a CAGR of 4.9% from 2023 to 2033, with the market value projected to increase from USD 1.65 billion in 2023 to USD 2.61 billion by 2033.
The market’s growth is driven by rising traffic, a growing vehicle population, and technological advancements. Additionally, emerging economies are seeing increased revenue through vehicle exports as advanced facilities establish themselves.
Two-wheelers are becoming the preferred choice due to their better mileage, convenience, comfort, fast mobility, and easy handling. Affordable prices of these vehicles and their suspension systems further contribute to market growth.
Electric two-wheelers are gaining popularity among consumers due to their low emissions, government subsidies, and affordability, which in turn supports market expansion. Collaboration between brands and automotive parts companies is also boosting the sales of two-wheeler suspension systems. The focus on smooth riding experiences is reshaping market dynamics as well.
Consumers have a wide range of options due to the presence of OEM retailers, repair facilities, and third-party companies, all contributing to the market’s growth.
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Key Takeaways from the Two Wheeler Suspension System Market Report:
- The United States market leads the two wheeler suspension system market in terms of market share in North America. This region is expected to hold a market share of 4.8% by 2023. The growth in this region is attributed to increased traffic, people getting aware of sustainable ways of transport, high affordability, and brands.
- Germany’s two wheeler suspension system market is another significant market in Europe region. The market holds a market share of 2.1% in 2023. The growth is attributed to the collaboration between automotive brands and part manufacturers along with the government working on electric two wheelers.
- China two wheeler suspension system market thrives at a CAGR of 5.4% during the forecast period. The growth is attributed to the big two-wheeler vehicle population, average per capita income, and high traffic.
- The telescopic front suspension system leads the component type segment as it holds a market share of 40.6% in 2023. The growth is attributed to the high response and enhanced shock control.
- Based on the vehicle type, the motorcycle segment leads as it holds a significant global share of 58.2% in 2023.
Competitive Landscape:
The key vendors work on key elements like reliability, high safety, comfort, and long shelf life. Furthermore, the electric vehicle suspension is being designed differently. Key competitors merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Leading Key Players:
- Showa Corporation
- Gabriel India Limited
- KYB Corporation
- Duro Shox Pvt Ltd
- BMW Group
- WP AG
- Nitron Racing Shocks
- Marzocchi Moto
- Öhlins Racing
- K-Tech Suspension Limited
- Progressive Suspension, Inc.
- TFX Suspension Technology
- BITUBO S.r.l.
- ZF Friedrichshafen AG
- Diamond International Pvt. Ltd.
- Ridon Auto Parts Co.
- Badve Engineering Group
- Zedling Suspension
Recent Developments:
- BMW Group with its BMW Motorrad has introduced the suspensions with optimal on all road experience. These suspensions involve duolever, single-sided swing arm, telelever, dynamic ESA, WAD spring element, and USD fork.
- Duro Shox Pvt Ltd has launched their two & three-wheeler shock absorber with attractive design and effective spring control.
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Two Wheeler Suspension System Market Segmentation:
By Product Type:
- Telescopic Front Suspension
- Rear Suspension
- Mono Shocks
- Dual Shocks
By Sales Channel:
- OEM
- Aftermarket
By Vehicle Type:
- Motorcycles
- Scooters
- Mopeds
By Region:
- North America
- The United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- The United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- Middle East Asia
- GCC Countries
- Israel
- South Africa
- Rest of Middle East Asia (MEA)
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