LONDON--(BUSINESS WIRE)--The global motorcycle immobilizer market is projected to grow to 634.34 thousand units by 2021, at a CAGR of almost 8% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global motorcycle immobilizer market for 2017-2021. Based on application, the market is divided into cruiser bikes, sports bikes, and commuter bikes segments.
|A motorcycle immobilizer is an electronic security device that is used to prevent theft of motorcycles. The global motorcycle market is witnessing an increase in the sales of premium bikes, especially from emerging markets, due to the rise in the number of high net worth individuals. This is expected to drive the market for motorcycle immobilizers through the forecast period.|
Technavio’s research study segments the global motorcycle immobilizer market into the following regions:
“The Americas occupied a majority 58% of the global motorcycle immobilizer market in 2016 and is expected to retain its dominance over the forecast period. The high number of premium motorcycles in the market sector drives the market dominance,” says Praveen Kumar, a lead analyst at Technavio for automotive electronics research.
The US leads the motorcycle immobilizer market in the Americas, due to the growing number of motorcycle thefts in large cities such as New York City. Also, there is a growth in the number of individuals choosing motorcycles for daily commutes, which will also impact the market growth.
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APAC is projected to grow swiftly over the forecast period, exhibiting a CAGR of over 11% through 2021. The quick growth will be fueled by the shifting focus of motorcycle manufacturers towards emerging economies such as China and India. Major brands such as TVS, Bajaj, and KTM are quickly increasing their penetration in these relatively young markets, which is directly impacting the rising adoption of motorcycle immobilizers. The Magnum RemusShield Finger Touch is a new motorcycle immobilizer, which works by blocking the engine sensor, cranking motor, fuel injection system, and ignition.
“The motorcycle immobilizer market in Europe is expected to be worth over 101 thousand units by 2021. Germany, Spain, and the UK are expected to be the largest revenue contributors to the market segment over the forecast period,” says Praveen.
The strong demand for powered two wheelers and the support for green mobility solutions across Europe is a testimony to the growing popularity of motorcycles. Powered two wheelers like mopeds, quadricycles, and motorcycles are also gaining popularity as they have low initial acquisition and running costs as compared to cars.
The top vendors in the global motorcycle immobilizer market highlighted in the report are:
- Delphi Automotive
- Mitsubishi Electric Corporation
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