LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global motorcycle seats market to post a CAGR of close to 6%, according to their latest market research report.
The integration of advanced heated seats in heavy-duty cruisers is one of the major trends being witnessed in the global motorcycle seats market. The motorcycle market is witnessing high demand due to the availability of new models integrated with advanced safety, convenience and comfort systems.
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In this report, according to Technavio analysts, one of the key factors contributing to the growth of the global motorcycle seats market is the increasing congestion and overcrowding in cities:
Global motorcycle seats market: Increasing congestion and overcrowding in cities
The motorcycle industry is expected to witness a huge upsurge in demand over the forecast period which will lead to a consequent increase in demand for motorcycle seats. APAC accounts for more than 80% of motorcycle sales around the world. Motorcycles are a convenient alternative to public transport in the region and are used to carry out business activities. The growth in urban traffic has increased congestion on the road which leads to increasing popularity of motorcycles as a means of transportation.
According to a senior analyst at Technavio, “The lack of a proper public transport infrastructure in developing economies, coupled with rapid economic growth, has led to an increase of vehicles on the road leading to traffic congestion. In such a scenario, motorcycles emerge as a more affordable and faster alternative to negotiate the daily commute to and from work.”
Global motorcycle seats market: Market segmentation and analysis
This market research report segments the global motorcycle seats market by application (mid-premium motorcycles, commuter motorcycles, and premium motorcycles), and geography (APAC, the Americas, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The mid-premium motorcycle segment dominated the market in 2017, with a market share of more than 53%, followed by the commuter and the premium motorcycles segment. However, the market share of the mid-premium segment is expected to witness a significant increase of close to 16% while the commuter segment will see a decline of more than 20% in its market share by 2022. The increase in disposable income facilitated by a growing economy can be held responsible for this upgrade in favor of the mid-premium and the premium motorcycle segments.
In 2017, APAC accounted for the major share in the global motorcycle seats market, accounting for close to 92% of the total market share, followed by the Americas and EMEA. The market share of all the three regions is expected to remain steady over the forecast period, with very small variations.
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