Motorcycle Suspension System Market Overview:
As per MRFR analysis, the Motorcycle Suspension System Market Size was estimated at 10.25 (USD Billion) in 2022. The Motorcycle Suspension System Market Industry is expected to grow from 10.63(USD Billion) in 2023 to 14.7 (USD Billion) by 2032. The Motorcycle Suspension System Market CAGR (growth rate) is expected to be around 3.67% during the forecast period (2024 - 2032).
Key Motorcycle Suspension System Market Trends Highlighted
The Motorcycle Suspension System Market is experiencing changes occasioned by the increased use of advanced suspension technologies, and motorcycles demand from emerging markets. This has been majorly driven by electronic suspensions, which have led to better control and comfort of motorcycles; this is accompanied by other factors, such as a rise in adventure motorcycles that require stronger suspensions for off-road terrains.
In addition, emerging opportunities are found in sensors and connectivity integration into suspension systems to allow data collection and remote monitoring. A rise in electric motorcycle adoption also presents an opportunity for the design of specialized suspension systems that can handle the unique dynamics associated with these vehicles.
Recent changes include a surge in aftermarket sales as customers seek to improve performance and personalize their suspension systems. There is also an increased focus on sustainable suspended systems that adopt materials and manufacturing processes with less environmental impact.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Motorcycle Suspension System Market Drivers
Rising Popularity of Adventure Motorcycles
Adventure motorcycles have gained immense popularity in recent years due to their versatility and ability to handle both on-road and off-road conditions. These motorcycles often come equipped with advanced suspension systems that provide a comfortable and controlled ride even on rough terrain. The increasing demand for adventure motorcycles is expected to drive the growth of the Motorcycle Suspension System Market in the coming years.
Technological Advancements in Suspension Systems
The motorcycle suspension system market is constantly evolving with the introduction of new technologies. Manufacturers are focusing on developing suspension systems that offer improved performance, comfort, and durability. Some of the key technological advancements in motorcycle suspension systems include the use of electronically controlled suspensions, semi-active suspensions, and air suspensions. These advancements are expected to drive the growth of the Motorcycle Suspension System Market in the coming years.
Increasing Demand for High-Performance Motorcycles
High-performance motorcycles offer a thrilling and adrenaline-pumping riding experience. These motorcycles often come equipped with sophisticated suspension systems that provide excellent handling and stability at high speeds. The growing demand for high-performance motorcycles is expected to drive the growth of the Motorcycle Suspension System Market in the coming years.
Motorcycle Suspension System Market Segment Insights:
Motorcycle Suspension System Market Type Insights
The Motorcycle Suspension System Market is segmented by Type into Front Suspension System and Rear Suspension System. The Front Suspension System segment accounted for a larger market share in 2023 and is expected to continue to dominate the market throughout the forecast period. This is due to the increasing demand for motorcycles with better handling and stability, which can be achieved with a high-quality front suspension system. The Rear Suspension System segment is also expected to grow at a significant rate during the forecast period due to the increasing popularity of off-road motorcycles and the growing demand for motorcycles with comfortable riding experience.In terms of revenue, the Front Suspension System segment is expected to generate higher revenue than the Rear Suspension System segment in 2023. This is due to the higher cost of front suspension systems, which are typically more complex and require more components than rear suspension systems. The Rear Suspension System segment is expected to generate significant revenue in the coming years as the demand for motorcycles with comfortable riding experience continues to grow. Overall, the Motorcycle Suspension System Market is expected to grow at a significant rate during the forecast period, driven by the increasing demand for motorcycles with better handling, stability, and comfort.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Motorcycle Suspension System Market Technology Insights
The Motorcycle Suspension System Market is segmented by technology into conventional suspension, electronic suspension, air suspension, and semi-active suspension. In 2023, the conventional suspension segment held the largest market share, accounting for over 60% of the global market revenue. The electronic suspension segment is expected to grow at the highest CAGR during the forecast period, owing to the increasing adoption of advanced suspension systems by motorcycle manufacturers. Conventional suspension systems are the most common type of suspension system used in motorcycles.They are relatively simple and inexpensive to manufacture, and they provide a good level of performance for most riding conditions. Electronic suspension systems are more advanced than conventional suspension systems, and they offer a number of advantages, including the ability to adjust the suspension settings on the fly. Air suspension systems are similar to electronic suspension systems, but they use air pressure to adjust the suspension settings. Semi-active suspension systems are the most advanced type of suspension system available, and they offer the best possible performance for riding in a variety of conditions.
Motorcycle Suspension System Market Motorcycle Type Insights
The Motorcycle Suspension System Market is segmented based on Motorcycle Type into On-Road Motorcycles, Off-Road Motorcycles, and Scooters and Mopeds. The On-Road Motorcycles segment held the largest market share in 2023 and is expected to continue to dominate the market throughout the forecast period. This dominance can be attributed to the increasing popularity of on-road motorcycles, particularly in developing countries. The growing demand for high-performance motorcycles and the increasing number of adventure riders are also contributing to the growth of this segment.The Off-Road Motorcycles segment is expected to witness significant growth during the forecast period. This growth is driven by the increasing popularity of off-road motorcycle racing and the growing number of off-road motorcycle enthusiasts. The increasing demand for lightweight and durable suspension systems for off-road motorcycles is also contributing to the growth of this segment. The Scooters and Mopeds segment is expected to grow at a steady pace during the forecast period. The increasing demand for scooters and mopeds as a convenient and affordable mode of transportation is driving the growth of this segment.The increasing number of scooter and moped manufacturers is also contributing to the growth of this segment.
Motorcycle Suspension System Market Application Insights
The Motorcycle Suspension System Market is segmented into application segments, including road racing, off-road racing, track racing, commuting, and touring. Among these segments, road racing is expected to hold the largest market share in 2023, owing to the increasing popularity of motorcycle racing events worldwide. The off-road racing segment is also expected to witness significant growth due to the rising popularity of adventure sports and off-road riding enthusiasts. The commuting segment is expected to grow steadily due to the increasing use of motorcycles as a mode of transportation in urban areas.The touring segment is also expected to experience growth due to the increasing popularity of motorcycle touring as a leisure activity.
Motorcycle Suspension System Market Regional Insights
The Motorcycle Suspension System Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, APAC held the largest market share in 2023 and is expected to continue its dominance during the forecast period. The growth in the APAC region can be attributed to the rising demand for motorcycles in countries such as India and China. North America and Europe are also significant markets for motorcycle suspension systems due to the presence of established motorcycle manufacturers and a large base of riders. The South American and MEA regions are expected to witness steady growth in the market over the coming years due to the increasing popularity of motorcycles in these regions.In terms of regional revenue, North America is expected to generate USD 2.6 billion in 2024, followed by Europe with USD 2.2 billion. APAC is expected to account for USD 4.5 billion in revenue in the same year. South America and MEA are projected to contribute USD 0.8 billion and USD 0.6 billion, respectively, to the Motorcycle Suspension System Market revenue in 2024.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Motorcycle Suspension System Market Key Players And Competitive Insights:
The Motorcycle Suspension System Market industry is fiercely competitive, with a handful of leading players dominating the market share. These major players invest heavily in research and development to stay ahead of the curve and introduce innovative products that cater to the evolving needs of customers. The competitive landscape is characterized by strategic partnerships, mergers and acquisitions, and aggressive marketing strategies to gain a competitive edge.
One of the leading Motorcycle Suspension System Market players is Ohlins Racing AB, a Swedish company renowned for its premium suspension systems for motorcycles and other vehicles. Ohlins Racing AB has a strong global presence and caters to a wide range of customers, including professional racers, motorcycle enthusiasts, and OEMs. The company's products are known for their exceptional performance, durability, and adjustability, making them a preferred choice among demanding riders.Another key player in the Motorcycle Suspension System Market is KYB Corporation, a Japanese company that specializes in the production of hydraulic components, including suspension systems for motorcycles. KYB Corporation has a long history in the industry and has established a reputation for reliability and innovation. The company's motorcycle suspension systems are designed to provide a smooth and comfortable ride while also offering excellent handling and control. KYB Corporation has a wide customer base, including motorcycle manufacturers, aftermarket suppliers, and individual riders.
Key Companies in the Motorcycle Suspension System Market Include:
- Marzocchi Pompe S.p.A.
- WP Suspension
- Showa Corporation
- KYB Corporation
- Fox Factory, Inc.
- Kayaba Industry Co., Ltd.
- Penske Racing Shocks
- JRi Shocks LLC
- Sachs AG
- ZF Friedrichshafen AG
- Risse Racing Suspension
- Andreani Group spa
- Ohlins Indonesia PT
- Mupo do Brasil Componentes Automotivos LTDA
Motorcycle Suspension System Market Industry Developments
The Motorcycle Suspension System Market is expected to reach a value of USD 14.7 billion by 2032, exhibiting a CAGR of 3.67% during the forecast period of 2024-2032. The increasing popularity of adventure motorcycles and the growing demand for high-performance suspension systems are key factors driving market growth. Recent developments include the launch of electronically adjustable suspension systems by major manufacturers such as Ohlins and KYB. These systems allow riders to fine-tune their suspension settings on the fly, enhancing both comfort and handling. Additionally, the growing adoption of electric motorcycles is expected to create new opportunities for suspension system manufacturers as these vehicles require specialized suspension components.
Motorcycle Suspension System Market Segmentation Insights
-
Motorcycle Suspension System Market Type Outlook
- Front Suspension System
- Rear Suspension System
-
Motorcycle Suspension System Market Technology Outlook
- Conventional Suspension
- Electronic Suspension
- Air Suspension
- Semi-Active Suspension
-
Motorcycle Suspension System Market Motorcycle Type Outlook
- On-Road Motorcycles
- Off-Road Motorcycles
- Scooters and Mopeds
-
Motorcycle Suspension System Market Application Outlook
- Road Racing
- Off-Road Racing
- Track Racing
- Commuting
- Touring
-
Motorcycle Suspension System Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
10.25 (USD Billion) |
| Market Size 2023 |
10.63 (USD Billion) |
| Market Size 2032 |
14.7 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.67% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Marzocchi Pompe S.p.A., WP Suspension, Showa Corporation, KYB Corporation, Fox Factory, Inc., Kayaba Industry Co., Ltd., Penske Racing Shocks, JRi Shocks LLC, Sachs AG, ZF Friedrichshafen AG, Risse Racing Suspension, Andreani Group spa, Ohlins Indonesia PT, Mupo do Brasil Componentes Automotivos LTDA. |
| Segments Covered |
Type, Technology, Motorcycle Type, Application, Regional |
| Key Market Opportunities |
1 Growing Demand for Premium Motorcycles2 Technological Advancements in Suspension Systems3 Rising Electric Motorcycle Sales4 Expanding Aftermarket for Suspension Upgrades5 Increased Focus on Motorcycle Safety |
| Key Market Dynamics |
Rising demand for premium motorcycles Growing popularity of adventure touring Increasing focus on safety and comfort Advancements in suspension technology Growing presence of electric motorcycles |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global motorcycle suspension system market is projected to reach a valuation of USD 14.7 billion by 2032, expanding at a CAGR of 3.67% from 2024 to 2032.
The Asia-Pacific region is expected to dominate the global market throughout the forecast period, owing to the increasing production and sales of motorcycles in countries such as India, China, and Japan.
Key growth factors for the global motorcycle suspension system market include rising demand for motorcycles, increasing awareness of safety features, and technological advancements in suspension systems.
The aftermarket segment is expected to account for a larger revenue share in the global motorcycle suspension system market as riders seek to upgrade or replace their existing suspension systems for enhanced performance and comfort.
Major players in the global motorcycle suspension system market include KYB Corporation, Showa Corporation, ZF Friedrichshafen AG, Ohlins Racing AB, and WP Suspension.
Emerging trends in the global motorcycle suspension system market include the adoption of electronically controlled suspension systems, the integration of sensors for real-time data collection, and the use of lightweight materials for improved performance.
The COVID-19 pandemic had a short-term negative impact on the motorcycle suspension system market due to disruptions in production and supply chains. However, the market is expected to recover and continue its growth trajectory in the post-pandemic period.
Challenges faced by the global motorcycle suspension system market include intense competition, stringent safety regulations, and fluctuations in raw material prices.
The future growth of the global motorcycle suspension system market is expected to be driven by increasing demand for high-performance motorcycles, technological advancements, and rising disposable income in emerging economies.
The global motorcycle suspension system market is projected to reach a size of approximately USD 12.5 billion by the end of 2027, representing a CAGR of around 3.2% during the forecast period from 2023 to 2027.
