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How has the Motorcycle Suspension System Market Performed in the Recent Past
Growing two-wheeler sales coupled with worsening transport infrastructure and growing fuel prices around the world are expected to bolster the growth of the motorcycle suspension systems market. A recent study released by Fact.MR estimates that the factors will aid the growth of the global motorcycle suspension system market which is anticipated to cross the US$ 1.5 million valuation mark in 2020.
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Innovative and advanced suspension system designs are expected to play a key role in fuelling the growth of the market. Growing awareness about road safety coupled with an increasing demand for comfort while riding has prompted manufacturers to develop enhance suspension designs that aid in enhancing the performance of vehicles as well. One of the key focus areas that manufacturers are eyeing is the development of lightweight suspension systems. For instance, Showa launched the new dual blending valve front fork suspension system to replace the full cartridge fork assembly. The cost-effective blending valve offers performance similar to cartridge type assembly while reducing the overall weight of the suspension system by approximately 250 grams.
On similar lines, Australian company Motorcycle Innovations announced the successful production of a new suspension system which leverages the two-wheeled-in-line vehicle geometry. The newly developed suspension system delivers the perfect blend of performance and stability and will replace the traditional telescopic forks. The new suspension system will function by keeping the front wheel in line with the suspension geometry, unlike the traditional telescopic fork system that creates slop and flexes. Another key development in the segment is BMW Motorrad’s Duolever front suspension system. The technology that forms the basis of the Duolever front suspension system provides a superior road grip which, in turn, helps in improving the riding accuracy and precision.
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Motorcycle Suspension System Market – Segmentation
The motorcycle suspension system market has been segmented on the basis of product type, sales channel, motorcycle type, region, and technology.
On the basis of product type, the market has been divided into front suspension and rear suspension.
Based on the sales channel, the motorcycle suspension system market has been divided into OEM and aftermarket. On the basis of motorcycle type, the market can be divided into standard, sports, cruiser, mopeds, scooters, and others.
Based on technology, the motorcycle suspension system market can be divided into mono and twin.
Based on the region, the market has been divided into Latin America, North America, Eastern Europe, Japan, MEA, Western Europe, and Japan.
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Motorcycle Suspension System Market Remains Highly Consolidated with Leading Players Holding the Bulk of Market Share
The Fact.MR report opines that the motorcycle suspension system market is highly consolidated with leading suspension system manufacturers holding the bulk of the market share. The report estimates that the leading market players account for over 50% of the motorcycle suspension system market share. Innovative product launches, improved performance, and development of lightweight suspension systems are the key strategies being followed by leading market players. Further, key market players intent to invest in APEJ anticipating a comprehensive increase in the demand for two-wheelers in the region. Introduction of technology to streamline supply chain and effectively reach out to consumers are some of the other strategies being adopted by leading market players.
The Fact.MR report tracks the motorcycle suspension system market for the period 2018-2028. According to the report, the motorcycle suspension system market is projected to grow at 4.4% CAGR through 2028.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/03/25/2006286/0/en/Electric-Vehicle-Sound-Generator-Sales-Majorly-Buoyed-by-Pedestrian-Safety-Concerns-Adoption-in-LCVs-Pegged-at-14-CAGR-by-2029-Says-a-New-Fact-MR-Study.html
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