A rise in demand for high-power engines & fine-tuned engines, implementation of advanced techniques for improving fuel consumption, and improved engine management systems drive the Asia-Pacific automotive performance tuning and engine remapping services market. Based on country, Japan held the largest share in 2021.
Portland, OR, Jan. 31, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Asia-Pacific automotive performance tuning and engine remapping services market garnered $4.31 billion in 2021 and is estimated to generate $ 8.69 billion by 2031, manifesting a CAGR of 7.4% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
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Report coverage & details :
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $4.31 Billion |
| Market Size in 2031 | $8.69 Billion |
| CAGR | 7.4% |
| No. of Pages in Report | 202 |
| Segments Covered | Product type, vehicle type, tuning stage, and country |
| Drivers |
The rise in demand for high-power engines & fine-tuned engines
Implementation of advanced techniques for improving fuel consumption Improved engine management systems |
| Opportunities |
Growing popularity for customized commercial vehicles & passenger cars
The rise in aftermarket maintenance & service |
| Restraints |
Additional stress on the engine due to Engine remapping
Legal restrictions on vehicle modification |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic hurt the growth of the Asia-Pacific automotive performance tuning and engine remapping services market, owing to automotive manufacturers closing manufacturing and assembly plants across the Asia-pacific.
- The coronavirus outbreak has made automotive component manufacturers adjust their operations, owing to disruptions created by the pandemic to automotive, transportation, tourism, and several other industries.
- Post-pandemic, the increase in demand for personal transportation and the rise in demand for vehicles with higher performance; creates immense opportunities for automotive service companies including automotive performance tuning and engine remapping.
- The Asia-Pacific automotive performance tuning and engine remapping services market has a high scope of growth opportunities in the future due to factors such as restarting the demand for automotive components to improve the vehicles stuck during the Covid-19 restrictions.
The research provides detailed segmentation of the Asia-Pacific automotive performance tuning and engine remapping services market based on product type, vehicle type, tuning stage, and country. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on product type, the interior segment held the highest share in 2021, accounting for more than one-fourth of the Asia-Pacific automotive performance tuning and engine remapping services market, and is expected to continue its leadership status during the forecast period. However, the detuning segment is expected to register the highest CAGR of 8.4% from 2022 to 2031.
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Based on vehicle type, the passenger vehicle segment accounted for the highest share in 2021, contributing to more than 50% of the Asia-Pacific automotive performance tuning and engine remapping services market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the motorcycle segment is expected to manifest the highest CAGR of 8.7% from 2022 to 2031.
Based on the tuning stage, the stage 1 segment accounted for the highest share in 2021, holding more than 45% of the Asia-Pacific automotive performance tuning and engine remapping services market, and is expected to continue its leadership status during the forecast period. However, the stage 3 segment is estimated to grow at the highest CAGR of 9.1% during the forecast period.
Based on country, Japan held the largest share in 2021, contributing to nearly one-fourth of the Asia-Pacific automotive performance tuning and engine remapping services market share, and is projected to maintain its significant share in terms of revenue in 2031. In addition, Indonesia is expected to manifest the fastest CAGR of 8.4% during the forecast period.
Leading market players of the Asia-Pacific automotive performance tuning and engine remapping services market analyzed in the research include Blitz Co., Ltd., CODE 6 Tuning, DK Tuning, DNA Tuning Malaysia, Dynamic Performance System, ECU-TECH AUSTRALIA, EPG Group, HKS Co., Ltd., JUN Auto (Tanaka Industrial Co., Ltd.), KS Motorsport, Mines Co. Ltd., Powerhouse Amuse Co., Ltd, Quantum Tuning, Roo Systems, VAG Singapore Pte Ltd., and Wolf Moto.
The report provides a detailed analysis of these key players in the Asia-Pacific automotive performance tuning and engine remapping services market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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