The automotive performance tuning and engine remapping services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Performance Tuning And Engine Remapping Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive performance tuning and engine remapping services market size has grown strongly in recent years. It will grow from $5.02 billion in 2023 to $5.44 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to rise in enthusiast culture, motorsports influence, customization demand, shift towards turbocharged engines, competition and performance enhancement..
The automotive performance tuning and engine remapping services market size is expected to see strong growth in the next few years. It will grow to $7.22 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to rising popularity of aftermarket upgrades, focus on fuel efficiency and performance balance, shift towards turbocharged and supercharged engines, increased motorsports participation, market expansion in emerging economies.. Major trends in the forecast period include rise in demand for tuning specialists, development of aftermarket performance parts, focus on fuel efficiency and power, integration of diagnostic tools, shift towards turbocharged and supercharged engine..
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The growing demand for classic cars is expected to propel the growth of the automotive performance tuning and engine remapping services market going forward. Classic car refers to an older car that is considered to be of historical or cultural significance or that has a certain level of rarity or desirability. Automotive performance tuning and engine remapping services are used on classic cars to improve performance, fuel economy, and drivability. For instance, in October 2022, according to Classic.com Inc., a US-based provider of insights on classic cars, in the US the classic car auction listing increased by 39.9% from 18,507 in 2021 to 25,892 in 2022 and the dollar volume generated from the auction increased by 31.4% from $960.9 million in 2021 to $1.3 billion 2022. Therefore, the growing demand for classic cars will drive the automotive performance tuning and engine remapping services market.
Market Trends –
Major companies operating in the automotive performance tuning and engine remapping services market are increasing their focus on developing performance-upgraded vehicles to maximize their revenues in the market. Performance-upgraded vehicles refer to automobiles that have undergone aftermarket modifications to enhance their overall performance, including aspects like speed, power, handling, and agility. For instance, in May 2023, ABT Sportsline, a Germany-based motor tuning company, launched the ABT RS6 Legacy Edition, which is a modified version of the Audi with several performance upgrades, such as a more powerful engine, an improved suspension, and better brakes. A 4.0-liter engine powers the ABT RS6 Legacy Edition twin-turbocharged V8 engine tuned to produce 760 horsepower and 980 lb-ft of torque with the company’s in-house ABT POWER R technology, representing a significant increase compared to the standard RS6 Avant, which has 600 horsepower and 590 lb-ft of torque. Additionally, the car has a lowered suspension by 1.5 inches, which enhances its handling and gives it a more aggressive stance.
The automotive performance tuning and engine remapping services market covered in this report is segmented –
1) By Service: Engine Tuning, Suspension Tuning, Transmission Tuning, Interior Tuning, Exterior Tunning
2) By Fuel Type: Petrol, Diesel
3) By Sales Channel: Original equipment manufacturer (OEM), Aftermarket
4) By Application: Passenger Cars, Light Commercial Vehicles (LCV), Motorcycle, Heavy Commercial Vehicles, Off-Highway Vehicles
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Regional Insights –
North America was the largest region in the automotive performance tuning and engine remapping services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive performance tuning and engine remapping services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the automotive performance tuning and engine remapping services market report are Volkswagen Group, The Mercedes-Benz Group AG, Bayerische Motoren Werke AG (BMW), K&N Engineering Inc., Roush Enterprises Inc., AEM Performance Electronics, Revo Technik, COBB Tuning, Forge Motorsport, Hennessey Performance Engineering, Quantum Tuning Ltd., Powerteq LLC, Skunk2 Racing, HP Tuners, AMS Performance, EcuTek Technologies Ltd., RENNtech Inc., JF Automotive, RS Tuning, Burger Motorsports LLC, EVolve Automotive Inc., Evolution Racewerks, VF Engineering LLC, Hondata, K-Tuned, Shark Werks Inc., Regal Tuning
Table of Contents
1. Executive Summary
2. Automotive Performance Tuning And Engine Remapping Services Market Report Structure
3. Automotive Performance Tuning And Engine Remapping Services Market Trends And Strategies
4. Automotive Performance Tuning And Engine Remapping Services Market – Macro Economic Scenario
5. Automotive Performance Tuning And Engine Remapping Services Market Size And Growth
…..
27. Automotive Performance Tuning And Engine Remapping Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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