Witnessing an average 5.5% annual increase in the revenues, the global demand for automotive performance tuning and engine mapping services is likely to expand at a healthy pace in 2019. As indicated by a new research intelligence of Future Market Insights (FMI), the market for automotive performance tuning and engine mapping services will possibly attain its peak growth rate – reflecting a promising outlook for the course of coming years.
According to FMI’s analysis, increasing inclination toward high performance gains in vehicles will be the key influencer, boosting revenues of the automotive performance tuning and engine remapping services market. However, the report opines that the global landscape of automotive performance tuning and engine remapping services is a low-volume market, as the performance tuning and engine remapping services are highly specialized and involve only a selective range of vehicles.
Moreover, inadequate awareness about performance tuning and engine remapping services among a considerable customer population will also continue to position it as a niche market over the next few years.
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Passenger Vehicles & LCVs Have Taken over Racing Cars
Surpassing traditional applicability in auto racing, automotive performance tuning and engine remapping services have been gathering impressive traction in the passenger and commercial vehicles sectors. The report points to prominent application of automotive performance tuning and engine remapping services in passenger vehicles and LCVs, accounting for nearly 70% share of the overall global demand. While racing applications seem to be limited, FMI’s analysis suggests that the key focus area of automotive performance tuning and engine remapping service providers as well as customers will be to attain fuel economy.
With more than half of the total revenues generated through automotive performance tuning and engine mapping services, the report envisages that diesel vehicles will continue to attract higher value to the market, over their petrol counterparts. While a majority of customers seek services for the stage I of tuning, FMI’s research finds that OBD (on-board diagnostics) ports will remain a preferred tuning method used by service providers.
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Led by the UK, Europe to Remain Global Hub for Vehicle Performance Tuning
Europe, the base for a large number of automotive performance tuning and engine remapping service providers, is likely to hold a prominent share in global market. The report also attributes Europe’s market primacy to the relatively high number of enthusiasts opting for performance tuning and engine remapping services for their personal vehicles, particularly in the UK.
Besides Europe, North America, East Asia, and Oceania, particularly the countries such as the US, China, and Australia will be the lucrative regional pockets for investors in the automotive performance tuning and engine remapping services industry. On the other side, a sizeable chunk of South Asia’s commercial vehicles sector is inclining toward achieving high performance, creating potential opportunities for automotive performance tuning and engine remapping services providers in the region.
Vendor Insights: Automotive Performance Tuning and Engine Remapping Services Market
The global automotive performance tuning and engine remapping services market is a fragmented landscape, with prominent market participants accounting for less than 6% share of the overall market. The automotive performance tuning and engine remapping services market is dominated by small-scale players operating at a country level. The market thus has a limited number of globally operating players.
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The report has covered in-depth company profiles and their recent strategic developments, intending to help participants understand the overall competition scenario. Some of the profiled companies include Quantum Tuning, RS Tuning, Turbo Dynamics, EcuTek Technologies Ltd., Roo Systems, ABT Sportsline GmbH, Tuning Works Inc., Shift Performance, Layton Remaps, and TuneOTronics among others.