Mechanical Performance Tuning Components Market Size [2031]

Report Description

Mechanical Performance Tuning Components Market Outlook 2031

The global mechanical performance tuning components market size was valued at USD 198.26 Billion in 2022 and is likely to reach USD 274.94 Billion by 2031, expanding at a CAGR of 3.7% during 2023 – 2031. The market's growth is attributed to rising stringent emission regulations and growing adoption of all-terrain vehicles (ATV) and utility-terrain vehicles (UTV).

Increasing adoption of utility-terrain vehicles (UTV) and all-terrain vehicles (ATV) is expected to boost the demand for mechanical performance tuning components. Tuning increases the performance of an ATV from different traction and acceleration by changing the spring and the flyweight, which enhances the demand for tuning components in utility-terrain vehicles (UTV) and all-terrain vehicles (ATV). Therefore, growing adoption of ATVs and UTVs is estimated to boost the market. For instance,

• As per a report, the all-terrain and utility-terrain vehicle market is projected to grow at a CAGR of 9.6% and is expected to reach USD 19.3 billion in 2030.

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Mechanical performance tuning is modifying a vehicle to optimize it for a different set of performance and requirements. Tuning is a wide variety of adjustments and modifications of an engine that involve revising some of the design decisions taken during the development of the engine. Tuning components provide higher engine performance and dynamic handling characteristics.

Engine, transmission, fuel system, brake, body & suspension, and exhaust mufflers are some of the types of tuning components. Tuning components are used in passenger vehicles, light commercial vehicles, and heavy commercial vehicles to enhance the performance of vehicles.

Rising stringent emission regulations are projected to drive the market. Tuning of the vehicles includes adjustment of the carburetor and ignition system, which enhances the engine efficiency and reduces the emissions from vehicles. Thus, increasing stringent emission regulation is estimated to enhance the market.

The COVID-19 pandemic hampered the demand for the mechanical performance tuning components. The rise in the severity of COVID-19 infection encouraged governments worldwide to impose social distancing and lockdowns, which created a shortage of raw materials and manpower, hindering the production of tuning components.

Moreover, the disruption supply chain and the closure of the international border led automotive manufacturers to close down their manufacturing and assembly plants further. This impeded the demand for mechanical performance tuning components as they are used in vehicles to enhance power and efficiency.

Impact of Artificial Intelligence (AI) on Mechanical Performance Tuning Components

The growing technological advancements and introduction of artificial intelligence create an immense opportunity in the market. The integration of AI in vehicle tuning brought a paradigm shift. AI in vehicle tuning saves time and optimizes the performance of vehicles by analyzing vast amounts of data in real-time, allowing more accurate and efficient tuning.

Artificial intelligence in tuning provides optimal suspension settings by continuously monitoring road conditions and adjusting the suspension settings in real-time. AI-enabled tuning systems can monitor various engine parameters such as temperature, pressure, and fuel mixture, to ensure optimal performance. AI-powered tuning systems can track potential issues before they become major problems by applying or using predictive analytics.

Mechanical Performance Tuning Components Market Dynamics

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Major Drivers

Growing automobile industry is expected to boost the demand for mechanical performance tuning components. Tuning components are widely used in the automobile industry to tune and remap engine speed, fuel efficiency, torque, and handling. It also tunes the vehicle's brakes, suspension, and electronic control unit (ECU), which increases its demand in the automobile sector. For instance,

• According to the European Automobile Manufacturers Association, 85.4 million motor vehicles were produced around the world in 2022, an increase of 5.7% compared to 2021.

Increasing adoption of electric cars is projected to drive the market. PID tuning is utilized in electric vehicles to increase the range and lifespan of the EV by managing the state of charge and the temperature of the battery.

PID tuning also optimizes the power conversion and the cooling system of EVs, which enhances the demand for mechanical performance tuning components. Therefore, growing demand for electric cars is propelling the market. For instance,

• According to the International Energy Agency, 26 million electric cars were present on the road in 2022, 60% up from 2021.

Existing Restraints

The limitation involved with ECU tuning is expected to restrict the demand for mechanical performance tuning components. ECU tuning can damage the engine or other components as it increases the stress and strain on the engine and its parts, such as the injectors, pistons, valves, and turbochargers.

Moreover, high cost of tuning is projected to hamper the market. Tuning involves upgrading various components, such as the turbocharger, intercooler, and exhaust system, which makes the tuning process expensive.

Emerging Opportunities

Increasing investment in R&D activities to develop and launch new tuning components for different categories of vehicles creates an immense opportunity in the market. For instance, on October 24, 2023,

Hendrickson a manufacturer of air suspension systems and components for heavy-duty trucks and trailers announced the launch of new air and mechanical suspensions for trailers to cater to local terrain.

Scope of the Mechanical Performance Tuning Components Market Report

The report on the market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Mechanical Performance Tuning Components Market Segment Insights

Product Type Segment Analysis

Based on product type, the mechanical performance tuning components market is categorized into engine, transmission, fuel system, brake, body & suspension, and exhaust mufflers. The engine tuning segment accounted for a major share of the market in 2022 due to its ability to improve fuel efficiency, and safety and decrease emissions.

Engine tuning is essential for every vehicle as it helps in customizing the engine for better efficiency and performance. It increases horsepower and torque, improves fuel efficiency, enhances engine sound, and increases engine lifespan, which increases its demand in vehicles.

The body & suspension segment is projected to grow at a considerable pace during the assessment period owing to its potential to offer improved handling, increased stability, and enhanced comfort. Body and suspension tuning provide improved handling as it ensures that tires are connected to roads in any situation, which reduces handling problems in vehicles.

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Vehicle Type Segment Analysis

In terms of vehicle type, the global market is segregated into passenger vehicles and commercial vehicles. The commercial vehicle segment dominated the market in 2022 and is expected to continue its dominance throughout the projection period due to increasing industrialization and growing logistics and transportation industry.

Tunning components are utilized in commercial vehicles to provide extra power and extra race as they are involved in heavy-duty work. Tuning in commercial vehicles optimizes ignition timing that prevents wasteful fuel burning, which increases the adoption of tuning components for commercial vehicles.

The passenger vehicle segment is estimated to grow at a robust pace in the coming years owing to rising disposable income, evolving customer preferences, greater security, and technologically advanced features. Tuning components are used in passenger vehicles to modify or customize a car to optimize it for a different set of performance requirements. It enhances vehicle performance and handling which provide better fuel economy and smoother response.

Regional Outlook

Based on region, the mechanical performance tuning components market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a large share of the market in 2022 due to rising emission regulations, growing automobile industry, and the presence of major market players such as Donaldson Company, Inc., Tenneco Inc., BorgWarner Inc., and Honeywell International Inc.

Moreover, increasing adoption of electric vehicles in the region is propelling the need for mechanical performance tuning components as these components are utilized to tune EVs to increase their range and lifespan. For instance,

• According to the International Energy Agency, 1 million electric vehicles were sold in the US in 2022 and is expected to reach 2.46 million in 2028

The market in Asia Pacific is projected to expand at a high CAGR during the forecast period owing to increasing popularity of motorsports, stringent emission regulations, and rising disposable incomes. Moreover, growing automobile industry in the region is estimated to boost the demand for mechanical performance tuning components as these components are used in automobiles to enhance vehicle performance and handling. For instance,

• According to a report published by the Ministry of Heavy Industries of India on February 17, 2023, India aims to double its auto industry size to ₹15 lakh crores by 2024

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