Rising demand for high-performance vehicles, coupled with growing utilization of car tuning services, is expected to boost market growth
— Emergen Research
VANCOUVER, BC, CANADA, August 25, 2022 /EINPresswire.com/ — Car tuning, also referred to as automotive tuning, is the process of modifying a car to improve its performance based on specific user needs. Tuning improves engine function and provides better fuel economy and torque to the vehicle, enhancing its overall performance. Generally, car tuning involves the addition, replacement, or alteration of various automotive parts and systems. It thus helps to increase the vehicle’s power output and enhances its appearance altogether. Revenue growth of the global car tuning market can be further attributed to factors such as surging need growing demand for fuel-efficient, high-performance light and heavy commercial vehicles, increasing adoption of electric vehicles (EVs) due to stringent emission laws and rising prices of petrol, and surging need for automotive tuning and remapping services.
Emergen Research has published a new market research report titled Global car tuning Market Forecast to 2028 comprising statistical data represented in tables, pie charts, graphs, and figures to aid in easy understanding of the market. The research report provides a comprehensive assessment of the market and provides a futuristic perspective about the market trends, growth factors, facts, and industry validated market data. It provides an in-depth assessment of market size, market share, revenue growth, along with a comprehensive analysis of the competitive landscape with extensive profiling of the key competitors. Rising investments and technological advancements are expected to significantly drive the growth of the market throughout the forecast period.
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Some Key Highlights in the Report:
Among vehicle type segments, the global car tuning market is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The passenger vehicles segment is expected to reach the largest market share over the forecast period due to favorable factors. Rise in production and sales of passenger vehicles globally, increasing demand for car tuning and engine remapping services, expanding transportation & logistics sector, and growing need for high-performance vehicles are among the major factors boosting the growth of this segment.
Based on modification area, the global car tuning market is segmented into audio, interior, body tuning, engine tuning, suspension tuning, tires, and others. The engine tuning segment is expected to dominate other segments with the fastest revenue growth rate during the forecast period. Growth of this segment is mainly attributed to rising need for dynamic vehicle performance and improved fuel-efficiency, increasing use of engine tuning and remapping solutions such as chip installation, OBD (on-board diagnostics) tuning, tuning boxes, and advanced ECU remapping, and emergence of highly advanced engine tuning techniques such as EFI (electronic fuel injection) and EEPROM reprogramming.
North America was the most dominant regional market in the global car tuning market in 2020, accounting for the largest revenue share. Primary factors driving the revenue growth of this regional market are rapid adoption of advanced automotive technologies, rising focus on improving vehicle power and fuel economy, increasing use of automotive tuning & remapping services among car enthusiasts, and presence of top industry players such as COBB Tuning, Derive Systems, and AEM Electronics Inc., in the region.
The car tuning market in Asia Pacific is projected to register the fastest CAGR during the forecast period, owing to increasing production and sales of passenger and commercial vehicles, growing demand for car tuning services, and growing inclination towards vehicle personalization.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others. It also offers key insights into financial standing, market reach, global position, gross profit margins, and investment and funding initiatives.
Major Players/Manufacturers profiled in the report are:
Derive Systems, COBB Tuning, Alientech SRL, Roo Systems, EFI Live, Magic Motorsports, Edge Products LLC, Diablo Sport, Mountune, Autotuner, AEM Electronics Inc., Hypertech Inc., HP Tuners, Flashtec SA, Jet Performance Products Inc., Layton Remaps & Performance, EcuTek Technologies Ltd., TuneOTronics, Turbo Dynamics Ltd., RS Tuning Limited, and Tuning Works
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For the purpose of this report, the global car tuning market is segmented on the basis of fuel type, vehicle type, modification area, tuning stage, sales channel, and region:
Fuel Type Outlook (Revenue, USD Million; 2018–2028)
Vehicle Type Outlook (Revenue, USD Million; 2018–2028)
Light Commercial Vehicles
Heavy Commercial Vehicles
Modification Area Outlook (Revenue, USD Million; 2018–2028)
Tuning Stage Outlook (Revenue, USD Million; 2018–2028)
Sales Channel Outlook (Revenue, USD Million; 2018–2028)
The report sheds light on the region expected to dominate the car tuning market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the car tuning market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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The report further sheds light on the strength, weaknesses, opportunities, and threats faced by the companies in the global car tuning market and additionally measures the feasibility and investment return analysis in the report. Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market and covers the initial and future assessment of the COVID-19 impact on the market. The report is a qualitative and quantitative assessment of the global car tuning market that has been formulated by extensive primary and secondary research with the data further validated from industry experts and professionals.
Key Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8 year analysis of the Global car tuning Market
Critical assessment of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
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