The demand for performance improvement of ageing vehicles is projected to drive the automotive tuner market. The global automotive tuner market is set to be valued at US$ 601.4 Mn in 2021, according to latest insights from Future Market Insights (FMI), an ESOMAR-certified research and consulting firm. It offers analysis in 20+ high-growth markets, providing detailed insights on Automotive Tuners market growth will evolve in the next decade.
The demand for automotive tuner decreased in the 2020 with effect if the COVID scenario and also effect the overall sales from the direct sales channel the third party online channel won’t affect slightly due to the economic crisis.
An increasing number of vehicle owners are spending on automating tuning to boost their vehicle performance. Considering this, the increasing sales of passenger vehicles in India, China, UAE, and other countries will create a conducive environment for automotive tuner sales. According to the report, passenger cars will account for maximum sales in the market.
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Key Takeaways
- Global automotive tuners market will rise at 5.8% CAGR between 2021 and 2031
- Steady sales of vehicles boosts growth in the U.S., sealing its dominance in the North America market
- Increasing vehicle production and focus on aftermarket and maintenance services have been driving growth in Germany and France
- After a period of negative growth, sales will recover in the U.K. market, enabling it to register 4.7% y-o-y growth in 2021
- Rising passenger vehicle sales will continue pushing growth in China. Also the increasing demand for aftermarket vehicle services and solutions will create a conducive environment for automotive tuner sales in the country
“The increasing demand for vehicle performance tuning or component tuning is creating growth opportunities for the market players. In the coming years, the market will gain from the rising demand for vehicular electronics, alongside focus on improving fuel-efficiency,” says FMI analyst.
Who is Winning?
The market is fragmented, with key players accounting for approximately one fifth of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares.
Automotive tuner market is likely to grow at a moderate pace during 2021-2031. As it is a growing market, companies are expected to concentrate on research and development activities.
Some of the key players in the market are Derive Systems, Cobb, Alientech SRL, Roo Systems, EFI Live, Magic Motorsports, Edge Products, Diablo Sport, Mountune, Autotuner, AEM Electronics, Hypertech Inc., HP Tuners, Flashtec SA, Jet Performance Products, etc.
Scope of the Report
| Attribute | Details |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2016-2020 |
| Market Analysis | USD Million for value and Units for Volume |
| Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa |
| Key Countries Covered | US, Canada, Mexico, Brazil, Germany, Italy, France, U.K., Spain, Russia, BENELUX, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Segments Covered | Component Types, Vehicle Type, Fuel Type, Sales Channel, and Regions |
| Key Companies Profiled | Derive Systems Cobb Tuning Alientech SRL Roo Systems EFI Live Magic Motorsports Edge Products Diablo Sport Mountune Autotuner AEM Electronics Hypertech Inc. HP Tuners Flashtec SA Jet Performance Products |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Key Questions Answered in the Report
- Which is the most lucrative market for automotive tuners? Europe currently leads the global market for automotive tuners. Sales in Europe will account for over 32.9% of total demand registered between 2021 and 2031.
- Which are the top-selling automotive tuners? Hardware component tuning component are highly sought-after for various applications. The demand for hardware component is expected to remain high in the near future, especially due to continuously increasing the demand for performance tuning and ECU mapping from the consumers in all regions.
- Which are some of the leading automotive tuner manufacturers? Some of the leading companies manufacturing Automotive Tuner are Derive Systems, Cobb, Alientech SRL, Roo Systems, EFI Live, Magic Motorsports, Edge Products, Diablo Sport, Mountune, Autotuner, AEM Electronics, Hypertech Inc., HP Tuners, Flashtec SA, Jet Performance Products, etc.
The post Rising Demand for High Performance Automobiles Driving Automotive Turner Market Growth: Future Market Insights appeared first on Industry News Analsis.
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