Impact of COVID 19-Global Automotive Performance Tuning Market Research Report 2020

Automotive performance tuning is widely employed to increase vehicle efficiency and enhance vehicle performance. Automotive performance tuning is a replacement of vehicle parts; mostly engine parts are replaced for performance tuning to increase the power of an engine.
Major vehicle manufacturers carry out numerous tests including tuning services to enhance vehicle performance. Tuning service is highly important to boost the life of engine parts. Increase in demand for used vehicles, which require major changes for improving the performance of used vehicles, is projected to boost the automotive performance tuning market across the globe.

Key Drivers of Automotive Performance Tuning Market

Rise in demand for high performance vehicles is offering opportunities to automotive repair & maintenance service providers to enhance performance and vehicle engine efficiency. Rise in disposable income and reduction in tax rates on sports vehicles and premium cars are prompting consumers to enhance the performance of their vehicles with performance tuning services. Rise in consumer preference for high-power engines and fuel-efficient vehicles is estimated to boost the automotive performance tuning market across the globe.
Rise in government initiatives for the reduction of vehicle emission across North America and Europe is projected to fuel the use of automotive performance tuning services in these regions, which in turn is likely to boost the automotive performance tuning market in these regions. Major original equipment manufacturers are introducing light weight vehicles to increase vehicle fuel efficiency and these original equipment manufacturers have advanced testing facilities for performance tuning to check performance and fuel-efficiency of their vehicles, which further propels the global automotive performance tuning market.

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Europe & Asia Pacific to hold significant share of global automotive performance tuning market

Europe is projected to account for a significant share of the global automotive performance tuning market due to stringent rules and regulations regarding vehicle emission norms enacted across the region. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers who have major facilities that undertake research & development regarding the engine tuning system, which is likely to propel the automotive performance tuning market across the globe.
Followed by Europe, Asia Pacific is projected to account a significant share of the global automotive performance tuning market due to an increase in sale of vehicles across the region. Growing demand for tuning of vehicle to increase vehicle fuel efficiency across Asia Pacific is likely to drive the automotive performance tuning market in the region.

Key Players Operating in Automotive Performance Tuning Market

The global automotive performance tuning market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the automotive performance tuning market are: