LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global motorcycle oxygen sensor market to grow to 21.9 million units by 2021, at a CAGR of more than 14% over the forecast period, according to their latest report.
The research study by Technavio on the global motorcycle oxygen sensor market for 2017-2021 provides detailed industry analysis based on the application (entry-level, mid-size, and full-size segment) and geography (APAC, the Americas, and Europe).
The motorcycle oxygen sensor market is set to grow at an impressive CAGR of over 22% through the forecast period. The impressive growth of the motorcycle market in the region is directly impacting the high adoption of oxygen sensors in APAC.
Looking for more information on this market? Request a free sample report
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.
Technavio analysts highlight the following three factors that are contributing to the growth of the global motorcycle oxygen sensor market:
- Rising levels of road congestion following increased urbanization
- Low penetration of premium motorcycles in emerging countries
- Progressing stringency of emission norms for two wheelers
Rising levels of road congestion following increased urbanization
Road congestion is a major factor hampering the convenience of commuting on the road. Motorcycles are a feasible solution for navigating tough traffic conditions. The growing need for economic and personal mobility is largely driving the market for motorcycles and subsequently fuel injected motorcycles with oxygen sensors.
“The increasing trend of commuter motorcycles being upgraded with fuel injection systems to comply with emission standards and increase the fuel-efficient will drive the market for motorcycle oxygen sensors in commuter motorcycles,” says Praveen Kumar, a lead analyst at Technavio for automotive electronics research.
Low penetration of premium motorcycles in emerging countries
The swiftly growing economy and increasing purchasing power of the growing middle class in APAC is driving the sales of premium motorcycles in the region. Premium motorcycles come fully equipped with fuel injection systems for increasing performance, controlling emissions, maintaining high acceleration, and justifying the premium price tag of the vehicle. China and India are the most promising markets for motorcycles, and a rise in sales of premium motorcycles in the region will provide a huge boost to the oxygen sensor market.
Progressing stringency of emission norms for two wheelers
“Rising levels of vehicular emissions have driven the governing bodies in emerging countries to make their two-wheeler emission standards more stringent, which will drive the manufacturers to equip motorcycle fuel injection systems with advanced oxygen sensors,” says Praveen.
Entry-level motorcycles are equipped with advanced oxygen sensors to maintain a check on exhaust gases. Also, India is planning to implement Bharat Stage VI by 2020, which will further impact the oxygen sensor market.
Browse Related Reports:
- Global Automotive Center Airbag Module Market 2017-2021
- Global Two-wheeler Throttle by Wire System Market 2017-2021
- Global Portable Wheel Load Scale System Market 2017-2021
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like auto accessories, automotive manufacturing, and wheels and tires. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
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, resellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
