Monoshock suspension system Market was valued at more than USD 400 billion in 2020 and is expected to grow at a CAGR of around 5% from 2022-2028.
According to a new report published by UnivDatos Markets Insights, the Monoshock suspension system Market was valued at more than USD 400 billion in 2020 and is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into Motorcycle Type (Standard Motorcycles, Sports Motorcycles, Cruiser Motorcycles, Dirt bikes, and Others); Sales Channel (original equipment manufacturers (OEMs), aftermarket); Region/Country.
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The monoshock suspension system market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the monoshock suspension system market. The monoshock suspension system market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the monoshock suspension system market at the global and regional levels.
Market Overview
The Monoshock Suspension System Market is expected to grow at a steady rate of around 5% during the forecast period. Monoshock suspension systems are the type of suspension used in bikes to reduce the shock or dumping effect and to increase comfort while riding the bike. Moreover, the mono-shock suspension system provides great stability, during the leaps and landing of the bikes in off-roading activities, the introduction of emission norms to reduce pollution, and demand for the comfortable suspension in sports activities. In addition, the suspension system is designed with a single absorber that is large in size than a standard absorber. For instance, CFMoto, a Chinese manufacturer of ATVs, announced its plan to launch its products in the Indian market.
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Factors such as an increase in the production of bikes and the growing demand for comfortable bikes and increasing outdoor activities are some of the prominent factors that are positively influencing the market growth globally.
Some of the major players operating in the market include Öhlins Racing AB, AB SKF, Nitron Racing Systems Ltd, Bayerische Motoren Werke AG, Hagon Shocks Limited, Honda Motor Co., Ltd, Robert Bosch GmbH, Endurance Technologies Limited, TFX Suspension Technology, MH Suspension Ltd
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the automotive industry and has transformed the way industry is delivered. The monoshock suspension system market has been significantly affected during these times owing to the shutdown of production as well as import and export.
The global monoshock suspension system market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on motorcycle type, the market is segmented into standard motorcycles, sports motorcycles, cruiser motorcycles, dirt bikes, and others. Dirt bikes category to witness higher CAGR during the forecast period. The purpose of suspension is to absorb bumps and impacts while allowing the wheels to track against the ground. In addition, this is so important in terms of finding traction, both for motocross and off-road/enduro riding. For instance, the U.S holds multiple racing events across the year where participants compete for titles and rewards. World Off-Road Championship Series (WORCS) is one of the biggest racing events organized in the country
· Based on sales channel, the market is categorized into original equipment manufacturers (OEMs) and aftermarket. Among these, the OEMs to hold a significant share in the market in 2020. This is mainly due to the quality of the product provided by the OEMs, and they have a good pipeline of motorcycles with a quality suspension system. Moreover, OEMs are known for the originality of the products which is also a key factor driving the growth of the market.
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Monoshock suspension system Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market adoption of the Monoshock suspension system industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing prevalence of off-road recreational activities backed by growing disposable income and surging per capita spending of individuals in the emerging economies of the region is driving the growth of the market. In addition, the constant development of remote & hilly areas along with growth in recreational activities further accelerates the suspension system market growth in the region. Also, major players in the market continue to invest in organizing various championships for Powersports enthusiasts. For instance, The Yamaha Australian Off-Road Championship is Australia’s premier off-road racing competition. It is also primarily held over fourteen rounds throughout the year and runs in conjunction with other state off-road championships across Australia
The major players targeting the market include
· Öhlins Racing AB
· SKF
· Nitron Racing Shocks
· BMW AG
· Hagon Products Ltd
· Honda Motor Co., Ltd
· Robert Bosch GmbH
· Endurance Technologies Limited
· TFX Suspension Technology
· MH Suspension Ltd
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Monoshock suspension system market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the monoshock suspension system market?
• Which factors are influencing the monoshock suspension system market over the forecast period?
• What are the global challenges, threats, and risks in the monoshock suspension system market?
• Which factors are propelling and restraining the monoshock suspension system market?
• What are the demanding global regions of the monoshock suspension system market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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