LONDON--(BUSINESS WIRE)--The global two-wheeler electric fuel injection (EFI) systems market is expected to grow at a CAGR of close to 7% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global two wheeler EFI systems market for 2016-2020. Based on key stakeholders, the market is segmented into OEMs and aftermarket segments. OEMs are expected to dominate the global two-wheeler EFI systems market with a market share of 97% by 2020.
According to Siddharth Jaiswal, a lead automotive electronics research analyst at Technavio, "Stringent emission standards across the world are driving the adoption of electric fuel injectors in two-wheelers. These regulations have played a vital role in driving innovations in technology and have encouraged manufacturers to develop low-cost electric fuel injector systems."
Technavio’s research study segments the global two-wheeler EFI systems market into the following regions:
|Key geography||Market share 2015 (%)|
APAC: largest two-wheeler EFI systems market
The demand for two-wheeler EFI systems in APAC is expected to grow at a CAGR of close to 8%. Although countries such as China and India account for over 70% of the two-wheeler market globally, declining growth rates during the forecast period are expected as the penetration rate of EFI in two-wheelers will increase. This means the market will eventually be directly correlated to two-wheeler production, with diminishing influence of adoption rates. “China is expected to become one of the largest electric two-wheeler markets by 2020, which will have an impact on the overall EFI market in the APAC region,” says Siddharth.
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Global two-wheeler electronic fuel injection market in the Americas
Technavio expects the demand for EFI systems in the Americas to grow at a CAGR of over 2%, owing to the standards laid down by the US EPA to control two-wheeler emissions and aftermarket players offering advanced EFI systems to enhance the performance of engines.
In 2015, the US two-wheeler industry witnessed its 5th consecutive year of slight increase in sales. This was due to the growing demand for motorcycles. According to the motorcycle industry council (MIC), the sales figure for street, dual-sport, and off-road motorcycles was recorded at 500,687 in 2015. This reflected a growth rate of 3.45% from the previous year, with 483,526 motorcycles sold in 2014.
BMW Motorrad USA set a new all-time year-end sales record with 16,330 units sold in 2015, recording a growth of 9.3% as compared to the previous year. 2015 was also a year of expansion for the Italian motorcycle manufacturer Ducati, as North America witnessed a growth of 14% as compared to 2014. Even the Japanese manufacturer Yamaha recorded a growth of 28% in the first half of 2015, showing immense potential for growth in the American motorcycle market.
Global two-wheeler electronic fuel injection market in EMEA
Technavio expects the demand for EFI systems in the EMEA region to grow at a CAGR of almost 2%, owing to the motorcycle emission standards laid by the EU commission and because of the aftermarket that performs engine tuning for professional motorcyclists.
European two-wheelers, especially motorcycles, have seen technological advancements in the field of safety and performance. With time, the EU commission has made various crash avoidance measures mandatory in two-wheelers, like helmets, ABS, and day-time running lights among others.
An increasing number of people in Europe are turning to motorcycles and scooters to combat urban congestion. The European Commission is planning to introduce a new legislation for the two-wheeler industry by 2020, and in the meanwhile have updated Euro 3 emissions standards to more stringent Euro 5 standards.
The top vendors in the global two-wheeler EFI systems market highlighted in the report are:
- Omnitek Engineering Corp. (OMTK)
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