LONDON--(BUSINESS WIRE)--The global motorcycle transmission control unit market is expected to grow by USD 108.32 million during 2019-2023. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
Automotive manufacturers are incorporating automatic transmission in high-performance electric motorcycles that are equipped with direct drive transmission functionality. This cannot be achieved in pure electric motorcycles as they are bound by mile range. As a result, manufacturers are looking for alternatives to overcome this drawback. For instance, in 2015, Suzuki developed hybrid motorcycles with semi-automatic transmission to overcome the challenge. This model allows the rider to switch between hybrid and full-electric modes. Hybrid motorcycles with semi-automatic transmission will gain traction in the market as they offer increased fuel efficiency and produce fewer emissions, such as Honda Motor's hybrid scooter PCX 125. Thus, the development of hybrid motorcycles will boost the growth of the motorcycle transmission control unit market during the forecast period.
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As per Technavio, the increase in electrification of mechanical components used in motorcycles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2019-2023.
Motorcycle Transmission Control Unit Market: Increase in Electrification of Mechanical Components Used in Motorcycles
Continuous innovations in motorcycle components and intense competition in the market are propelling the demand for ICE-powered motorcycles. ICE-powered motorcycles not only improves the riding experience but also boost the efficiency of motorcycles. The electrification of motorcycle transmission is gaining huge traction in the premium segment. However, the penetration rate of automation in transmission system is expected to gradually increase in all the segments. For instance, the adoption of anti-lock braking system (ABS) is increasing in all segments due to the growing popularity of vehicle speed sensors. Consequently, the adoption of semi-automatic and automatic motorcycles along with motorcycle TCU is increasing. Thus, the increase in electrification of mechanical components used in motorcycles is expected to showcase a positive outlook during the forecast period.
"Although the supply chain and production process of motorcycles is experiencing disruptions amid COVID-19, initiatives such as ‘A bike plan’ in Denmark are expected to keep encouraging people to travel by bike instead of using the public transportation system. Similarly, micro mobility solutions are gaining traction as an alternative to public transportation in various countries. Connected and automated vehicles (CAV) are being deployed in metropolitan cities to deliver medical emergency aid packages and more. Hence, industry leaders are continuing to implement innovative strategies to provide safe solutions to their customers,” says a senior analyst at Technavio.
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Motorcycle Transmission Control Unit Market: Segmentation Analysis
This market research report segments the motorcycle transmission control unit market by application (single-clutch transmission and dual-clutch transmission) and geographic landscape (Americas, APAC, and EMEA).
EMEA led the motorcycle transmission control unit market in 2019 and is expected to dominate the market over the forecast period. However, the Americas region is expected to register the highest incremental growth due to factors such as the increasing demand for premium motorcycles in the region and growing adoption of motorbike tourism.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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