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Global Motorcycle Traction Control System Market to Witness Growth Through 2020 Owing to Higher Adoption of Premium Motorcycles: TechnavioThe global motorcycle traction control system (TCS) market is expected grow at a CAGR of close to 9% during the forecast period, according to Technavio's latest report. In this report, Technavio covers the market outlook and growth prospects of the global motorcycle TCS market for 2016-2020. The report includes the entire range of motorcycle TCS available in the market. To calculate the market size, the report considers the unit shipment of motorcycle TCS across all regions. It also presents the vendor landscape and a corresponding detailed analysis of the top vendors operating in the market. In addition, the report discusses the major drivers influencing market growth and the challenges faced by vendors and the market as a whole. "The motorcycle traction control system is an add-on safety feature that complements the anti-lock braking system to offer higher stability, especially during the cornering and tilting of motorcycles. The TCS market is still in its nascent stage because this system is largely restricted to premium motorcycles that are used for touring and racing," says Siddharth Jaiswal, a lead automotive electronics research expert from Technavio. Technavio's automotive research analysts segment the global motorcycle TCS market into the following regions:
In 2015, with a market share of over 62%, the Americas dominated the global motorcycle TCS market, followed by EMEA at 30% and APAC with 8%. Americas: largest market for ultra-luxury and luxury motorcycles In 2015, the US and Canada were the major contributors to the TCS market in the Americas. These countries are witnessing a rise in demand for TCS owing to an increase in the adoption of ultra-luxury motorcycles and the aftermarket by luxury motorcycle riders. The Americas is the largest market in the world for ultra-luxury and luxury motorcycles, accounting for 65% of total motorcycles in these categories. Motorcycles in the Americas are primarily used for touring and pleasure riding. Top OEMs for TCS, such as BMW, are observing increasing sales in the US, and this will have a positive influence on the TCS market. BMW increased sales by 9.3% in 2015, while the overall motorcycle segment witnessed a 3.5% growth during the same period. In addition, it is vital to note that BMW Motorrad has TCS as a standard fitment in all its models. If legislationon mandatory anti-lock braking system (ABS (News - Alert)) is implemented, there will also be an increase in the adoption of ABS in the relatively smaller segment of commuter motorcycles (low-powered motorcycles) in the region, which will set an ecosystem for TCS. This will widen the TCS market as ABS and TCS share common components. Request a sample report: http://www.technavio.com/request-a-sample?report=52987 Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. EMEA: largest market for BMW Motorrad In 2015, France, Italy, Germany, Spain, and the UK were the major contributors to the motorcycle TCS market in Europe, owing to the penetration of strong heavyweight motorcycles. These countries are witnessing a rise in demand for TCS owing to the safety benefits offered by this technology. In addition, in Europe legislation effective from the end of 2016, mandates the use of ABS in motorcycles with an engine displacement of above 125cc. This will further prompt the adoption of TCS along with ABS in the other segments of motorcycles. Europe is home to BMW Motorrad which benefits the TCS market in this region as BMW has TCS as a standard stock fitment in all their variants. Europe is the largest market for BMW Motorrad, followed by the US. "Therefore, the legislation push and the positive environment for heavyweight motorcycles will significantly drive the market for TCS in Europe during the forecast period," says Sidddarth. APAC: rising per-capita income to boost adoption of heavyweight motorcycles Japan and China are the dominant countries in the motorcycle TCS market in APAC. The motorcycle TCS market in APAC is in its very nascent stage due to the lack of awareness and vendors' offerings, and less adoption of heavyweight motorcycles. However, this region is witnessing a demographic change in terms of rising per-capita income in countries such as Indonesia, China, and India, which is setting a platform for a flourishing market for heavyweight motorcycles. This factor makes this region an attractive market for TCS manufacturers and is evident with the entry of premium motorcycle makers such as Ducati, BMW, and MV Agusta in these countries over the past couple of years. China and India dominate the motorcycle market in APAC. However, low-powered motorcycles are primarily used in these countries. At present, these motorcycles have negligible adoption of TCS. In addition, in regions like Japan, Australia, and New Zealand there has been an increase in the adoption of TCS owing to the penetration of ultra-luxury motorcycles. In terms of demographics, Japan is ideal for heavyweight motorcycles as life expectancy of the country is highest among all regions (overall life expectancy is 84 years). Most of the riders are above 50 years of age and they seek comfortable riding experience. In addition, the average disposable income of Japan is higher than average of Organization for Economic Co-operation and Development (OECD), which is contributing to the adoption of heavyweight motorcycles. Japanese government is also mandating ABS in motorcycles from 2018, which will push the demand for TCS in other segments of motorcycles during the forecast period. The top vendors in the global motorcycle TCS market highlighted in the report are:
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Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected]. View source version on businesswire.com: http://www.businesswire.com/news/home/20160927005658/en/ |
