Report ID: 10347684 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Automotive Tuner Market is valued approximately USD XXX million in 2020 and is anticipated to grow with a healthy growth rate of more than 5.8 % over the forecast period 2021-2027. An automotive tuner, which consists of both hardware and software, is used to fine-tune a vehicle's output. Automotive tuners offer consumers a boost in engine efficiency and provide statistics on vehicle torque and horsepower. Automotive tuners are primarily used to improve the performance of vehicles by installing additional components, such as ECU software upgrades, that cause the vehicle to run more efficiently and produce more power than stock software or hardware. The growing market for high-performance vehicles presents opportunities for automobile repair and maintenance companies to improve vehicle performance and quality. Consumers are turning to automotive tuners to improve the value of their vehicles as disposable income rises and tax rates on sports cars and compact cars fall. Consumer demand for high-performance engines and fuel-efficient cars is expected to drive the global automotive turner market. The demand has been growing due to increased automotive demand and an emphasis on aftermarket and repair services. The demand will continue to expand as passenger vehicle rise. Automotive retail sales in India increased by 11.66 percent in September 2020, according to registration data published by the Federation of Automobile Dealers Association (FADA).
According to the India Brand Equity Foundation (IBEF), passenger vehicle sales in India reached 3,10,294 units in October 2020, representing a 14.9 percent growth over sales in October 2019. During the forecast timeframe, the rising demand for aftermarket vehicle services and solutions would also generate a favourable climate for car tuner sales. However, over the projected period of 2021-2027, the market's growth will be hampered by a shortage of legislation and common norms, as well as gradual convergence. Advancements in automotive turner, on the other hand, offer a lucrative prospect for the industry.
The main regions of Asia Pacific, North America, Europe, Latin America, and the Rest of the World are considered in the geographical overview of the global Automotive Tuner industry. Because of the steady rise in vehicle purchases, increasing vehicle parc, and increased demand for performance tuning and ECU mapping, North America is the leading region in terms of market share. Whereas, over the forecast period 2021-2027, Asia-Pacific is expected to have the highest CAGR as demand for technology for better car maintenance and growing willingness to invest on vehicle maintenance would generate lucrative growth opportunities for the Automotive Tuner market in the Asia-Pacific region.
Major market player included in this report are:
Derive Systems
Cobb Tuning
Alientech SRL
Roo Systems
EFI Live
Magic Motorsports
Edge Products
Diablo Sport
Mountune
AEM Electronics
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Component Type:
Hardware Component
Software
By Vehicle Type:
Passenger Car
LCV
HCV
By Fuel Type:
Gasoline
Diesel
By Sales Channel:
Direct Sales
Third Party Online Channel
Independent Stores/Shops
Other Sales Channel
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Automotive Tuner Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Report ID: 10347684 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
