LONDON--(BUSINESS WIRE)--May 17, 2018-- market research analysts forecast the to grow at a CAGR of close to 7% during 2018-2022. The growing availability of advanced suspension systems and components in aftermarket is a key trend which is expected to have a significant impact on the growth of the market.
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Technavio has published a new market research report on the global motorcycle semi-active suspension system market from 2018-2022. (Graphic: Business Wire)
The motorcycle aftermarket is witnessing the emergence of new players that have increased their product portfolio. The aftermarket players in developed economies are known for offering innovative and technologically advanced solutions, and they have further increased their portfolio of solutions. Even developing and emerging economies are witnessing the emergence of new aftermarket players that are now offering products and solutions other than conventional ones.
In this report, Technavio researchers identify the ride handling benefits of the advanced electronic suspension system as a key factor contributing to the growth of the global motorcycle semi-active suspension system market:
Ride handling benefits of the advanced electronic suspension system
The global motorcycle industry has evolved over the years in terms of motorcycle design, applications, fit, and functional capabilities. This can be attributed to growing electrification of systems and components. The use of electronic content per motorcycle has led to higher performance, better fuel efficiency, and lower exhaust emissions. This is evident in the use of electronic content in motorcycle’s suspension system, which has led to improved ride dynamics.
The increased electrification of the suspension system and setups have made them more efficient compared with the mechanical ones. Electronic suspension systems used in motorcycles use different types of sensors, electronic control units (ECUs), and damping valves and work in synchronization with ABS and TCS. Thus, modern suspension systems have become more flexible in their setup and overall functioning.
According to a senior analyst at Technavio for research, “The use of different sensors such as acceleration sensor helps the suspension system to continuously analyze real-time data for superior riding comfort. With such suspension setups, the scalability of modern motorcycles has increased along with increased value proposition.”
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global motorcycle semi-active suspension system market - segmentation and analysis
The OEM segment accounted for the largest share of the global motorcycle semi-active suspension system market in 2017, with a market share of 80%. The market share is expected to increase by a further 2% by 2022.
Based on geography, EMEA dominated the market accounting for 46% share of the market in 2017, followed by the Americas and APAC. APAC is expected to witness the fastest growth increasing its market share by 2% over the forecast period.
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SOURCE: Technavio Research
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PUB: 05/17/2018 03:06 PM/DISC: 05/17/2018 03:06 PM