Global Motorcycle Shock Absorbers Market is projected to grow at a CAGR of 2.39%
Knowledge Sourcing Intelligence announces the publication of a new report on “Global Motorcycle Shock Absorbers Market – Forecasts from2020 to 2025" to their offering.
A motorcycle shock absorber is one of the most essential components of the suspension systems of two-wheelers. Shock absorbers are hydraulic devices that are designed to absorb the shock impulses while riding a two-wheeler. The growing two-wheeler demand is driving the market growth in the next five years.
According to the report, the Global Motorcycle Shock Absorbers Market is projected to increase at a CAGR of 2.39% in the coming years.
Growing penetration of electric two-wheelers
The global motorcycle shock absorbers market is anticipated to witness a nominal growth throughout the course of the next five years. The major factors augmenting the market growth is the globally growing demand for two-wheelers especially in the developing economies due to the presence of highly congested roads. Furthermore, two-wheelers serve as an economical means of transport for short distances. The participation of key players in the market in the form of R&D investments to launch advanced products to cater to the growing consumer requirements also positively impacts the market growth throughout the forecast period. Moreover, the growing penetration of electric motorcycles globally also plays a significant role in shaping up the market growth during the coming years. The growing acceptance of two-wheeler ride-hailing services is also further widening up the opportunities for the manufacturers over the next five years as this has led to an upsurge in the demand for two-wheelers. However, the market is expected to be restrained by the fact that the trend of shock absorber repair is still high in the developing economies due to considerably lesser repair costs than replacement costs, thus the propensity of the consumers to spend on shocker replacement is less. Furthermore, the advent of COVID has led a temporary suspension of all sports events, thus a suspension in racing events and other motorsports events is projected to hamper the demand for customized suspension systems for these bikes, which, in turn, is projected to inhibit the market growth moderately during a short period of eight to ten months.
The global motorcycle shock absorbers market has been segmented on the basis of placement, distribution channel, and geography. By placement, the market has been classified into front and rear. By the distribution channel, the classification has been done into OEMs and aftermarket. Geographically, the market has been distributed into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
Geographically, the APAC region is anticipated to hold substantial market share during the next five years. The major factors that supplement the share of the region is the presence of the world’s highest populated countries such as India and China among others. The presence of a considerably large population base that falls under the low-income group further supplement the high adoption of two-wheelers across the APAC region. Furthermore, several initiatives by the governments across these countries regarding the promotion of electric two-wheelers also play a key role in augmenting the market growth in the region during the next five years. Furthermore, the growing middle–class population and the improvement in the standards of living of the people in these economies has led to an upsurge in the demand for high-end sports as well as cruiser bikes, thus positively impacting the growth in the coming years.
The major players covered as part of the report are SHOWA CORPORATION, Öhlins Racing, Nitron Racing Shocks, Duroshox, and WP Suspension among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-motorcycle-shock-absorbers
This report has segmented the global Motorcycle Shock Absorbers market on the basis following terms:
By Distribution Channel
- United Kingdom
Middle East and Africa
- Saudi Arabia
- South Korea
- North America
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