Motorcycle Suspension System Market

Motorcycle Suspension System Market Snapshot (2023 to 2033)

The motorcycle suspension system market was valued at USD 486.7 million in 2022 and is likely to reach USD 499.8 million in 2023. Innovations and improvements in suspension system designs are anticipated to play a significant role in driving market expansion.

The motorcycle suspension system market is projected to expand at a CAGR of 6.05% between 2023 and 2033, totaling around USD 899.3 million by 2033.

The motorcycle suspension system market is estimated to register moderate growth during the forecast period owing to the increasing frequency of suspension replacement, growing population, and increased demand for comfort.

Asia Pacific market is expected to dominate the global motorcycle suspension system services in terms of revenue and is projected to grow significantly throughout the forecast period. As a demand-driven market, which depends on customer preferences across all regions, India, China, and South East Asian countries are expected to draw the key market share in the coming years.

Researchers of FMI have predicted a comparison and review analysis of the dynamics of the motorcycle suspension system industry which is driven by the strong growth forecast for the worldwide motorcycle suspension system market primarily due to an increase in motorcycle exports, more brand acceptance, attention to the youth market, and regulatory support in Asia Pacific excluding Japan.

Key reasons for this change in growth rate are due to its simple handling, high stability, and lower price range when compared to traditional bikes, scooters are currently popular. All age groups love scooters, but older people, youth, and women especially do.

By including equipment found in traditional bikes, such as disc brakes and ABS systems, OEM manufacturers are also concentrating on raising the overall quality of scooters. The Indian scooter market has also shown significant annual growth in recent years.

The provision of various types of bikes for rental reasons at tourist destinations is an ongoing trend that is gaining traction in several nations throughout the world. It is predicted that rising young interest in motorcycle road trips and adventures would drive up demand for motorcycles and scooters in the upcoming years.

Key Takeaways from the Market Study:

• The predicted size of the motorcycle suspension system market in 2022 was USD 486.7 million.
• Surge in the frequency of suspension replacement with population growth, resulting in to increase in demand for comfort raises the moderate growth of the market.
• Growth in the awareness of road safety, along with a rise in the desire for comfort while riding, has motivated the manufacturers for developing improved suspension designs that contribute to the improvement of vehicle performance.

Attributes	Details
Projected Forecast Value (2022)	USD 486.7 million
Projected Forecast Value (2023)	USD 499.8 million
Projected Forecast Value (2033)	USD 899.3 million
Growth rate	6.05% CAGR
Forecast period	2023 to 2033

Historical Analysis 2018 to 2022 vs. Forecast Outlook 2023 to 2033

The global motorcycle suspension system market expanded at a CAGR of 5.28% between 2018 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 6.05% between 2023 and 2033.

The surge in motorcycle exports, increased acceptance of the brand, focus on the youth segment, and policy support in Asia Pacific excluding Japan is a primary reason for the strong growth outlook for the global motorcycle suspension materials.

Owing to increasing disposable income and the lack of a well-established public transport system in rural areas, the demand for motorcycles and scooters has increased considerably.

The road infrastructure of rural areas is still in its primitive stage as compared to urban areas. Increasing motorcycle sales is anticipated to directly affect the demand for motorcycle suspension systems across the globe during the forecast period. Lengthy commutation time in countries, such as Brazil and Argentina, is another key factor responsible for the adoption of motorcycles by consumers.

Key Trends Influencing the Motorcycle Suspension System Market

Low Price of Scooters

Scooters are trending owing to their easy handling, good stability, and low-price range as compared to conventional motorcycles. Scooters are preferred by all age groups, especially aged citizens, teenagers, and females.

Improvement in the overall Quality of Scooters

OEM manufacturers are also focusing on improving the overall quality of scooters by providing similar features that are present in conventional motorcycles, such as disc brakes and ABS systems, etc. The Indian scooter market has recorded substantial yearly growth in recent years.

The ongoing trend gaining momentum in various countries across the globe is the availability of various types of bikes for rental purposes at tourism spots. Increasing traction towards motorcycle adventures and road trips among the youth segment is estimated to fuel the demand for Off-road motorcycles and scooters, among other segments, in the coming years. 

Region-Wise Insights

This section covers key motorcycle suspension systems market trends across various regions and countries. The countries profiled include the United States, Germany, Japan, China, India, and the United Kingdom.

Out of all aforementioned countries, China is expected to be the clear winner, expanding at a CAGR exceeding 7% from 2023 to 2033. This is attributed to high automotive production and the thriving of allied industries.

The United States is also a lucrative market. Commanding a market share of more than 35%, growth is likely to be stimulated by the rising adoption of electric motorbikes.

Region/Country	The United States
Key Growth Factors	High disposable personal income has led its consumers to venture more into leisure activities. Revolves more around conventional motorcycles and scooters. Growth of electric vehicles in the countries has been fuelled by rising income rates.
Key Statistic	Captured a market share of 35.2% in 2022.

Region/Country	North America
Key Growth Factors	Rising demand for activities such as travel, and motorsport. Owing to the rise in motorcycling clubs. Revolvement of cruiser motorcycles in the country was popularized by more demand for motorcycles.
Key Statistic	Forecasted a market share of 43.2% in 2022.

Region/Country	Europe
Key Growth Factors	It has a fair global market share. Moderate increase in sales over the forecast period.
Key Statistic	Anticipated to record a market share of 40.2% in 2022.

Region/Country	Germany
Key Growth Factors	Continues to remain strong on account of positive perception among end users.
Key Statistic	Estimated to record a 5.3% CAGR from 2023 to 2033.

Region/Country	The United Kingdom
Key Growth Factors	Wake of rising environmental restrictions and emission standards. Rising popularity of electric motorcycles in the region.
Key Statistic	Projected to expand at a market share of 6.72% in 2022.

Region/Country	China
Key Growth Factors	Dominant market for the motorcycle suspension system both in terms of volume and value. Development of production facilities in this region can be seen.
Key Statistic	Augmented to develop a 7.8% CAGR from 2023 to 2033.

Region/Country	India
Key Growth Factors	Bolstering industrial production, by developing economies, and a steady proliferation of the automotive industry.
Key Statistic	Registered to command 8.32% of the total market share in 2022.

Region/Country	Japan
Key Growth Factors	Leads to significant growth in the motorcycle suspension system market. Tenacious success can be found both in the domestic and international markets. Recognition for the products has fuelled a significant increase in their respective market share.
Key Statistic	Assumed to record 6.1% of the total market share in 2022.

Category-Wise Insights

The category-wise analysis provides insights on key market segments. In this section, the key segments covered include product type and sales channel. By product type, mono shock rear suspension systems accounted for 3/5th of the global revenue share in 2022.

By sales channel, the aftermarket segment is a preferred medium to avail motorcycle suspension systems. This segment accounts for 68% of all motorcycle suspension systems sales. The primary motivation factor for buyers is that the aftermarket is more affordable compared to OEMs.

Category	Product Type
Subcategory	Mono shock rear suspension
Key Growth Factors	Highly preferred. Owes to high maneuverability. Greater stability compared to dual shock suspensions.
Key Statistic	Accounted for 60% of the market share in 2022.

Category	Sales Channel
Subcategory	Aftermarket
Key Growth Factors	Increase in the demand for custom design and engineering with optional features in vehicles. Promotion of the trend of car customization. Growing trend of vehicle customization in developed countries is boosting aftermarket growth. Increasing replacement rates of suspension due to bad road conditions in different regions boosts market growth. Less expensive as compared to the original equipment manufacturer.
Key Statistic	Captured a market share of 68% in 2022.

Competitive Landscape

Growth in the number of acquisitions and expansion activities has been witnessed to improve the supply of components over the past few years. Several key players are also focusing on improving the efficiency of the suspension system. The emergence of various manufacturers has also been witnessed in the global business.

Some of the new developments are-

• In September 2018, the Öhlins Racing Company expanded its product portfolio by introducing a new trail fork and a rear air shock for mountain bikes.
• In March 2020: REE Automotive (REE) and KYB Corporation (KYB) announced a strategic partnership to develop suspension capabilities for future electric vehicle (EV) platforms.

Key Players	ZF Friedrichshafen AG
New Advancements	Stood its ground in a globally challenging and volatile market environment. Significantly expanded training offering. Two new training courses on transmission technology were added. The changes in the automotive market, the courses on high-voltage technology, driver assistance, and safety systems are becoming increasingly important.
Year/ Month	January 2023

Key Players	ZF Friedrichshafen AG
New Advancements	ZF planned to produce and sell products such as electric axle drives for new energy vehicles. The project, with state-of-the-art technologies, marked another milestone in the electrification of the Group.
Year/ Month	June 2023

Key Players	KYB Corporation
New Advancements	KYB Corporation and REE Automotive established a new strategic alliance to prepare for the future of transportation. The new alliance was meant to assist both businesses in creating a new, scalable electric vehicle platform for accommodating a range of automobile applications including sedans, SUVs, MUVs, etc.
Year/ Month	May 2023

Key Players	KYB Corporation
New Advancements	Continued to derive strength from its strong parentage of Japan-based KYB Corporation (KYB). Qualified and experienced local management, established track records. Operations in the construction equipment industry along with a diversified product portfolio and established relations with reputed clientele. The ratings also continued to consider its moderate scale of operations, comfortable capital structure, and adequate liquidity. The ratings, remained constrained on account of KCPL’s modest profitability. Remained susceptible to volatile raw material prices, small net worth base, and moderate debt coverage indicators.
Year/ Month	July 2023

Report Scope

Attribute	Details
Expected Market Value in 2023	USD 499.8 million
Projected Market Value in 2033	USD 899.8 million
Growth Rate	CAGR of 6.05% from 2023 to 2033
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	USD million for Value and Units for Volume
Key Regions Covered	North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa
Key Countries Covered	The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel
Key Segments Covered	Product Type, Sales Channel, Technology, Motorcycle Type, Region
Key Companies Profiled	Gabriel India Limited; ZF Friedrichshafen AG; SHOWA CORPORATION; 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.
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Motorcycle Suspension System Market by Category

By Product Type:

• Front Suspension
• Telescopic Fork
• Others
• Rear Suspension
• Dual Shocks
• Mono Shocks
• Others

By Sales Channel:

• OEM
• Aftermarket

By Technology:

• Passive
• Active/Semi-active

By Motorcycle Type:

• Standard
• Cruiser
• Sports
• Scooter
• Mopeds
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• The Middle East and Africa

Frequently Asked Questions

What is the expected market value as of 2023?

The 2023 market value is likely to total USD 499.8 million.

What is the expected value CAGR from 2023 to 2033?

Motorcycle suspension systems sales will rise at a 6.05% CAGR through 2033.

How did the market perform historically?

From 2018 to 2022, the market registered a 5.28% CAGR.

What is the United States’ market share?

The United States’ generated a 35.2% market share in 2022.

Who are some key motorcycle suspension system manufacturers?

ZF Friedrichshafen AG, KYB Corporation and SHOWA Corporation are key market players.