VALLEY COTTAGE, N.Y. Increasing global population along with intensifying preference towards private vehicles echo escalated traffic congestion, especially in countries, including Japan, India, and China. As such, individuals are turning to compact alternatives, such as motorcycles. Concerns apropos four-wheeler emissions are climbing, influencing automotive manufacturers to shift towards production of motorcycles for achieving reduced toxic emissions. Motorcycle suspension system are garnering significant traction among automotive sector as a fuel-effective component.
Millennial are significantly inclined towards two-wheelers during long trips, and performing recreational activities. Market players are leveraging the untapped opportunity by manufacturing customized motorcycle suspension system. Further, they are marketing motorcycle suspension system as USPs (Unique Selling Point) of two-wheelers during new launches to fetch larger number of customers.
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Asia Pacific exclusive Japan (APEJ), owing to rising disposable income in tandem with increased demand for motorcycles, is expected to maintain its hegemony throughout. Global motorcycle suspension system market is projected to progress at a promising CAGR of ~5% over forecast period (2019-2029), reaching ~US$ 2.4 Bn by 2029 end.
Surging Adoption in Scooters
Owing to easy handling, and good stability, scooters are outshining standard motorcycles in terms of adopting motorcycle suspension system, finds FMI. As compared to other two-wheeler motor vehicles, scooters are cheaper. In addition, intensifying trend of micro-mobility across the world are fueling production of compact two-wheelers, such as scooters. Against the backdrop of straightforward usage, scooters are prominent among individuals of every age cohort, particularly elderly, and teenagers, as well as females.
Preview Analysis of 2019 Analysis and Review of Motorcycle Suspension System Market by Motorcycle – Standard, Cruiser, Sports, Scooter, and Mopeds for 2019 – 2029:https://www.futuremarketinsights.com/reports/motorcycle-suspension-system-market
Consumers in developed and developing nations are following the trend of ‘private vehicle ownership’. Further, millennial prefer doing activities, such as relaxing, and entertainment, over outdoor activities – Cocooning trend. Realizing changing customers’ trend, vendors of motorcycle suspension system are channelizing product distribution towards scooter retailers.
Aftermarkets Benefit from Adverse Road Infrastructure
According to the World Economic Forum, countries in South Asia, Africa and Latin America are suffering the issue of adverse road conditions. In addition, APEJ currently holds lion’s share in motorcycle suspension system market, finds FMI. Working life of motorcycle suspension system linearly relies on operating status of vehicles, as well as lane conditions.
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Motorcycle suspension system deliver operational lifespan of 4-7 years, yet they require periodic maintenance, which includes oil refilling, and rubber seal replacement. Further, poor road infrastructure affect the shelf life of shock absorbers, increasing replacement rate of components. As such, sales of motorcycle suspension system are expected to boost via aftermarkets.
Analysts at FMI suggest that “In a bid to escape from traffic congestion, individuals are opting for two-wheelers that are compact, and fuel-efficient. Majority of individuals, particularly Gen Y cohort, are increasingly performing recreational activities, including off-lane biking, out of enthusiasm. Low initial and maintenance expenses associated with two-wheelers are driving the market of motorcycle suspension system.”
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