LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global motorcycle tire pressure management system (MTPMS) market to grow at a stupendous CAGR of more than 29% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global MTPMS market for 2017-2021. Technavio analysts have presented the various facets of the market with a focus on identifying the key industry influencers.
The global MTPMS market is expected to grow at a considerable rate owing to the high proportion of under or over inflated tire pressure related accidents that are leading to growing popularity of such TPMSs among the motorcycle enthusiasts. In addition to this, advantages of the system such as longer tire life, high fuel efficiency, and reduced carbon emissions from vehicles are also fueling the growth of such systems in the market.
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 automotive analysts highlight the following three factors that are contributing to the growth of the global MTPMS market:
TPMS reduces maintenance cost of motorcycle
TPMS continuously monitors tire pressure and constantly notifies the rider. It has been found that a TPMS-fitted tire can result in fuel efficiency of 1.4% on an average depending upon the duration of travel and vehicle type. Considering current fuel costs of USD 3 to USD 10 per gallon in countries like the US, Europe, and China, a minimum of USD 900 is saved for a 100,000-mile drive.
Siddharth Jaiswal, a lead automotive electronics research analyst at Technavio, says, “MTPMS can be easily purchased in the aftermarket and has an average initial cost of around USD 150 to USD 250, which should not be a concern considering the benefits and savings it offers.”
Growing touring motorcycle market
The global sales of the touring segment motorcycles are on the rise. This is due to the increased preference for people to use motorcycles for long commutes mainly in North America and Europe. The increasing focus of consumers toward heavy weight motorcycles is attributed to the comfort and the safety level given by these motorcycles for long distance traveling.
“The customers also see comfort in the form of freedom and self-expression offered by heavy weight touring motorcycles. Therefore, motorcycle manufacturers engage with customers on a regular basis to avail feedback and design innovation,” adds Siddharth.
TPMS helps in reducing fuel consumption, carbon emissions, and tire wear
Advanced technologies are aimed at making motorcycle riding a safer, comfortable, and convenient experience in addition to making them eco-friendly in nature. Rolling resistance from tires plays an important role in delivering the optimum fuel efficiency and level of exhaust emission from the vehicle. It has been found out that lower pressure in the tire leads to high rolling resistance in the tire.
Therefore, a device that can monitor the tire pressure continuously becomes crucial for optimum fuel efficiency and lower emissions. TPMS is one of those systems that continuously monitor tire pressure to increase fuel efficiency by alerting the driver in case of underinflated tires.
- Schrader International
- Salutica Bernad (FOBO)
- Orange Electronic
- Doran Manufacturing
Browse Related Reports:
- Global Automotive Center Airbag System Market 2017-2021
- Global Motorcycle Brake by Wire (BBW) System Market 2017-2021
- Global Automotive Engine Actuators 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 engineering tools, tools and components, and unit operations. 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.
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, re-sellers, and end-users.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.