LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global motorcycle start-stop system market to reach 3.52 million units by 2021, growing at a CAGR of close to 13% over the forecast period, according to their latest report.
The research study by Technavio on the global motorcycle start-stop system market for 2017-2021 provides a detailed industry analysis based on the motorcycle type (commuter motorcycles and premium commuter motorcycles) and geography (India and ROW).
|In 2016, India accounted for 100% of the sales volume in the global motorcycle start-stop systems market with Hero MotoCorp being the only vendor to fit their best-selling motorcycle Hero Splendor with the system. Post-2017, Hero is planning to expand its reach in the international market. Also, other major motorcycle manufacturers such as Honda and Yamaha Motor Corporation have plans to launch their models with start-stop systems in developing economies such as India, Vietnam, Thailand, and Brazil.|
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Technavio analysts highlight the following three factors that are contributing to the growth of the global motorcycle start-stop system market:
- Rise in commuter motorcycle sales indicating rising need for fuel efficiency
- Urban parcel delivery: redefining last-mile distribution
- Stringent emission regulations for motorcycles
Rise in commuter motorcycle sales indicating rising need for fuel efficiency
India and China account for roughly 60% of the global two-wheeler market. Countries such as the UK are witnessing rising commuter motorcycles and scooters sales. The rising adoption of motorcycles is indicative of the increasing amount of road congestion and the volatile nature of fuel prices, which are likely to intensify over the forecast period.
“In India, Hero Splendor, equipped with the start-stop system, sold around 2.5 million units during 2015-2016. Also, Honda, TVS, and Bajaj are in the process of testing and releasing this technology during the forecast period,” says Siddharth Jaiswal, a lead analyst at Technavio for automotive electronics research.
Urban parcel delivery: redefining last-mile distribution
The constantly evolving demographic and retail trends have complicated parcel delivery in urban areas and have led to the development of new strategies to ensure parcel delivery in jam-packed city centers. For instance, a Coca-Cola bottling company in Rio De Janeiro use fleets of motorcycles to make the final delivery to the consumer, in order to overcome the restrictions on parking. This is a win-win situation, as it ensures both the quick delivery in crowded city centers and also reduces carbon emissions by as much as 50%. We believe that distribution/logistics changes like this will create a high demand for motorcycles with start-stop systems.
Stringent emission regulations for motorcycles
“Countries around the world are quickly introducing emission norms to combat pollution and global warming. Economies such as those in Europe and South Asia are enforcing stringent emission norms for motorcycles as well as other vehicles that were earlier exempted from the norms,” says Siddharth.
India, which is the largest market for motorcycles in the world, finalized the Bharat Stage IV (BS IV) standards for two wheelers in July 2014. The new regulation not only restricts the HC+NOx values to 23%-60% but also specifies independent NOx standards for two wheelers. BS IV also establishes the first ever evaporative emission standard for two wheelers.
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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.
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