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, February 2, 2023 /EINPresswire.com/ — The latest report, titled ‘Global Car Tuning Market,’ comprises a profound analysis of the fundamental parameters contributing to the global Car Tuning market scenario. Increasing use of automotive tuning & repair services and rising demand for high-performance vehicles are among the major factors driving market revenue growth. Over recent years, boom in automobile production and sales, rising disposable incomes of the population, growing demand for luxury sports cars such as crossover SUVs, especially among car enthusiasts, and advances in car tuning techniques have driven market revenue growth to a significant extent. 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.
The research report provides the reader with an in-depth interpretation of the Car Tuning market dynamics, including the crucial drivers, opportunities, threats, and challenges. The report also describes the key business strategies, demand and supply ratios, leading regions, and the renowned market players, in a nutshell, offering a futuristic outlook of the overall Car Tuning industry. The market intelligence report is a prototype of the 360° overview of the global Car Tuning industry, shedding light on the estimated market value, share, growth trends, gross revenue, competitive overview, prominent manufacturers and buyers, available product types, and end-use applications.
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The global Car Tuning industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The Leading Market Contenders Listed 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, Tuning Works
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.
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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)
Middle East & Africa
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Besides offering a vivid depiction of the global Car Tuning business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2028).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
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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Car Tuning Market: A Comprehensive Overview of the Industry’s Players and Trends