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WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 29, 2024 /EINPresswire / -- According to a recent report published by Allied market Research, titled,“Asia-Pacific Automotive Performance Tuning and Engine Remapping Services Market by Product type, Vehicle type, and Tuning stage: Opportunity Analysis and industry Forecast, 2022–2031,” the Asia-Pacific automotive performance tuning and engine remapping services market was valued at $4.31 billion in 2021, and is projected to reach $8.69 billion by 2031, registering a CAGR of 7.4% from 2022 to 2031.
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The rise in demand for high-power and fine-tuned engines and the growth in adoption of fuel consumption-improving technics are major factors that are anticipated to create demand for automotive performance tuning and engine remapping across the region during the forecast period. Moreover, market players operating in Asia-Pacific are introducing a new range of components related to performance tuning and ECU remapping for enhancing the performance and efficiency of vehicles that are expected to propel the growth of the market across the region during the forecast period.
Moreover, automobile design on demand and individualized car tuning are expected to become easier in South Korea, as the automotive sector has become the newest deregulation target to develop specialist vehicle fields and create a position in the auto market. In December 2013, the Ministry of Land, Infrastructure, and Transport(“MLIT”) of South Korea updated the“Regulations on Vehicle Structure and Device Changes”. These regulations ease out the domestic regulations related to automobile tuning by allowing free tuning of the vehicle. According to new regulation, vehicle tuning can be done without taking approval from the Korea Transportation Safety Authority (“KOTSA”).
The production and sale of passenger vehicles have seen a significant increase in developing Asian countries such as India, China, and Japan. For instance, in August 2021, Tata Motors, a leading automobile manufacturer recorded a 51% growth in passenger vehicle sales. In addition, vehicle components need to change over time, owning to reduced performance levels. Vehicle performance tuning helps to improve the inbuild power capacity of the vehicle to the maximum level. These factors are anticipated to supplement the demand for passenger vehicles performance tuning.
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However, the engine produces higher power when the engine control unit (ECU) is remapped. It may have an impact on the engine's and other components' long-term reliability as they are under high stress to create that extra level of power. As the engine's limiters have been removed, the tuning process is anticipated to certainly put the engine under extra stress. This is expected to eventually lead to more wear and tear, as well as an increased risk of engine failure due to higher stress. Moreover, incorrect ECU tuning can cause injector leaks, intake & exhaust system issues, and other issues. In addition, overpowering a vehicle's engine puts it under a considerable amount of stress, increasing pressure in the engine and wearing it out faster than non-remapped vehicles. Users increase the chance of early engine failure by attempting to exceed the manufacturer-designed limitations of their engine's performance or power. This factor is expected to hinder the growth of the market during the forecast period.
COVID-19 Impact Analysis :
The COVID-19 crisis is creating uncertainty in the market, massive slowing of the supply chain, falling business confidence, and increasing panic in the automotive sector. Governments of different regions have already announced a total lockdown and the temporary shutdown of industries, and the overall production process is adversely affected. The spread of the COVID-19 pandemic has negatively impacted the Asia-pacific automotive performance tuning and engine remapping services market owing to the lockdown imposed in the majority of countries across the globe.
Key Findings Of The Study :
By product type, the interior segment is anticipated to exhibit significant growth in the near future.
By vehicle type, the passenger vehicle system segment is anticipated to exhibit significant growth in the near future.
By tuning stage, the stage 1 segment is anticipated to exhibit significant growth in the near future.
By country, Indonesia is anticipated to register the highest CAGR during the forecast period.
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Key players operating in the Asia-pacific automotive performance tuning and engine remapping services market include Blitz Co., Ltd., CODE 6 Tuning, DK Tuning, DNA Tuning Malaysia, Dynamic Performance System, ECU-TECH AUSTRALIA, EPG Group, HKS Co., Ltd., JUN Auto (Tanaka Industrial Co., Ltd.), KS Motorsport, Mines Co. Ltd., Powerhouse Amuse Co., Ltd, Quantum Tuning, Roo Systems, VAG Singapore Pte Ltd., and Wolf Moto.
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About us :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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