The engine tuner market size has also seen significant growth. It is projected to rise from $3.37 billion in 2023 to $3.58 billion in 2024, growing at a CAGR of 6.2%. The growth is driven by the increasing demand for high-performance vehicles, rising interest in performance enhancement, stronger demand for vehicle customization, stringent environmental regulations reducing emissions, and the desire for improved power and fuel economy.
The engine tuner market is forecasted to grow to $4.57 billion by 2028, with a CAGR of 6.3%. This growth is driven by higher automotive sales, increased availability of plug-and-play tuners, rising awareness of engine performance tuning, the demand for fuel efficiency, and the increasing desire for high-performance vehicles. Trends include technological advancements, the expansion of EV tuning solutions, and weight reduction techniques.
Major Driver In The Engine Tuner Market
The rising demand for renewable energy sources is anticipated to propel the growth of the energy meters market going forward. Renewable energy sources, which include solar, wind, and hydroelectric power, are becoming increasingly important due to climate change concerns and the push for energy independence. Energy meters are crucial for monitoring energy production and usage in renewable energy systems, allowing users to optimize their consumption. According to GreenMatch, renewable energy sources represented approximately 13.1% of total primary energy consumption in the U.S. and around 21.5% of utility-scale electricity generation in 2022, with projections showing wind and solar contributing 16% to total electricity generation in 2023. The energy meters market is projected to grow from USD 2.64 billion in 2023, USD 3.10 billion in 2024, to USD 6.18 billion by 2028.
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Engine Tuner Market Competitive Landscape
Holley Performance Products Inc., AEM Electronics, Motec Systems USA, Cobb Tuning, Alientech SRL, Hondata Inc., Quantum Tuning, APR LLC, Vivid Racing, Dinan Engineering, Superchips Ltd., Diablo Sport, Revo Technik, RaceChip Chiptuning GmbH & Co. KG, EcuTek Technologies Ltd., Hypertech Inc., Autotuner, EFI Live, Flashtec SA, JR Auto Performance, Magic Motorsports, Roo Systems, Roush Performance, Tactrix Inc.
Key Engine Tuner Market Trend
Companies in the engine tuner market are focusing on engine management solutions to optimize vehicle performance, fuel efficiency, and emissions control. These solutions use advanced algorithms and real-time data analysis to adjust engine parameters like ignition timing, fuel injection, and boost levels. In October 2023, HP Tuners, a US-based performance tuning company, introduced the CORE ECU and VCM Live software for high-performance tuning, particularly for Gen 3 and Gen 4 LS engines. The CORE ECU features advanced control, data logging, and customization software.
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Global Engine Tuner Market Segmentation
The engine tuner market covered in this report is segmented –
1) By Component Type: Hardware Component, Software Component
2) By Fuel Type: Gasoline, Diesel
3) By Application: Passenger vehicle, Commercial Vehicle
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
By Geography:The regions covered in the engine tuner market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the engine tuner market in 2023.
The Engine Tuner Global Market Report 2024 furnishes information about the global engine tuner market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
