LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global motorcycle rear and front wheel lift-up control market to grow at a CAGR of more than 11% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global motorcycle rear and front wheel lift-up control market for 2017-2021. The report also lists OEMs and aftermarket as the two major end-user segments, of which OEM’s accounted for close to 85% of the market share in 2016.
According to Amey Vikram, a lead analyst at Technavio for automotive electronics research, “The adoption of motorcycle rear and front wheel lift-up control systems during the forecast period can also be attributed to the legislation push for ABS in some big markets such as Europe and India. Motorcycle rear and front wheels LUC systems are widely preferred by sports bike riders, as they provide stability to the vehicle during acceleration, leaning, and sudden braking situations.”
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global motorcycle rear and front wheel lift-up control market:
- Integration of various safety functions in ABS and TCS leading to a bundled good
- Increasing sales of ultra-luxury motorcycles
- Growing popularity of motor sport in developing economies
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Integration of various safety functions in ABS and TCS leading to a bundled good
The integration of traction control system (TCS) with other safety functions will be the driving force for its adoption in the maximum segment of motorcycles. For instance, by incorporating pressure sensors along with speed sensors, anti-lock braking system (ABS) enables rear wheel lift-up mitigation. This has solved the problem of rear wheel lifting during emergency brakes, which is experienced by many motorcycles owing to significant wheel-load changes. Similarly, by incorporating it with the acceleration sensor, ABS provides the benefit of mitigating backward sliding on sloping roads. Bosch developed the ninth-generation ABS with both these functions.
“The integration of ABS, TCS, and electronic stability control into one unit made the braking system of motorcycles more efficient. The market is likely to see more integration during the forecast period,” says Amey.
Increasing sales of ultra-luxury motorcycles
Currently, rear and front wheel lift-up protection control has the highest adoption rate in the ultra-luxury and sports motorcycle segment due to the high costs associated with the technology. Also, this segment is not price-sensitive, so the advances in TCS and ABS will be more in this segment as compared to others. For instance, OEMs such as BMW, Triumph, Ducati, Kawasaki, Yamaha, and MV Agusta have already incorporated TCS in their premium segment motorcycle variants.
The growing awareness of the comfort level and heritage of ultra-luxury motorcycles have encouraged consumers around the world to purchase more of them. These motorcycles are more powerful and efficient than traditional motorcycles and have incorporated TCS. Superior performance and long-term value are expected to help boost the sales of ultra-luxury and luxury motorcycles.
Growing popularity of motor sport in developing economies
The popularity of automotive racing is beneficial for enhancing the racing culture, and this is crucial for the adoption of sports motorcycles. Automotive racing is primarily concentrated in the US and other developed countries such as Italy, France, Spain, the UK, and Japan. However, it is rapidly gaining traction in China, India, and the UAE. This trend is encouraging OEMs to invest in various racing championships in these countries.
Many Indian companies, such as Reliance and Mahindra, are focusing on sponsoring teams for international events, like Grand Prix and F1, to tap into the growing popularity of these championships in the country. Motorsport Asia has been organizing several championships, such as the Asian Touring Car Championship, Porsche Carrera Cup Asia, and Formula BMW Asia, for the last eight years. Such events have attracted the attention of major OEMs like Renault and Mahindra.
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