LONDON--(BUSINESS WIRE)--The global motorcycle anti-lock braking systems (ABS) market is expected to grow at a CAGR of more than 36% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global motorcycle ABS market for 2017-2021. The market is further categorized into two types of ABS, comprising of one-channel ABS and multiple-channel ABS product segments. The multiple-channel ABS dominated the market in 2016, with close to 74% of the market share.
“ABS is a preferred feature by touring motorcycle riders as it provides effective braking, stability, and safety during emergency situations. ABS offers safety features, such as emergency braking, and certain add-on features for motorcycles, which makes them more viable for touring purposes. They are widely embraced in the Americas and Europe where touring motorcycle penetration is high,” says Raj Gaurav Singh, a lead automotive electronics research expert from Technavio.
Technavio’s research analysts segment the global motorcycle ABS market into the following regions:
- Americas
- APAC
- EMEA
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Motorcycle ABS market in the Americas
The US and Canada were the major contributors to the motorcycle ABS market in the Americas in 2016. These countries are witnessing an increasing demand for heavyweight motorcycles due to the rising population of baby boomers in the region.
The motorcycle market in North America is driven by senior motorcyclists. The average age of a motorcyclist in North America is around 48 years, and around 35% of the motorcyclist population in the region is between 51 and 65 years of age. In addition, 13% of motorcycle owners ride for more than 300 days per year. All these factors trigger the need for a comfort level in motorcycles in North America, and this is expected to be the driving force for market growth during the forecast period.
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Motorcycle ABS market in APAC
The market in APAC is still in its nascent stage due to the lack of awareness and vendors and lower adoption of heavyweight motorcycles. However, APAC will be the fastest growing market for motorcycle ABS during the forecast period owing to numerous favorable factors. In terms of market share, APAC is expected to outpace the Americas and EMEA by 2021.
India and China dominate the motorcycle market in APAC, but these countries have a high concentration of commuter level motorcycles, which have negligible adoption of ABS currently. Countries, such as Japan, Australia, and New Zealand are witnessing the increasing adoption of ABS primarily due to the increasing adoption of heavyweight motorcycles.
Motorcycle ABS market in EMEA
In 2016, the European market for motorcycle ABS was dominated by France, Germany, the UK, Spain, and Italy primarily due to the increased penetration of heavyweight motorcycles in these regions. These regions are witnessing higher demand for motorcycles with ABS owing to the safety benefits it provides to the rider. Furthermore, the European legislation has mandated ABS systems for all the motorcycles with engine displacement of above 125cc since 2016, which has further intensified the ABS adoption in other segments of motorcycles.
“Heavyweight motorcycle sales are expected see an upward trend in Europe, owing to the predicted uptick in the GDP rate during the forecast period. This will have a positive influence on the ABS market in Europe. The other factor that will influence the wide adoption of ABS in Europe is the expected legislation push, which will mandate motorcycles with engine displacement of above 50cc to install ABS from 2019,” says Raj.
The top vendors in the global motorcycle ABS market as highlighted in this market research analysis are:
- Bosch
- Continental
- ZF TRW
- BWI Group
- Honda Motor Group
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