Overview of the global motorcycle cruise control market
According to Technavio’s market research analysis, the rising demand for fuel-efficient motorcycles will be one of the major factors that will have a positive impact on the growth of the global motorcycle cruise control market growth till 2021. With the increasing fuel prices and the need to reduce overall costs, there is a growing demand from the consumers for fuel-efficient motorcycles. This need will fuel the growth of the cruise control market since the adoption of cruise control can significantly reduce the consumption of fuel economy by limiting the amount of fuel the engine accepts and reducing gasoline consumption that is wasted on acceleration and deceleration. Our market research analysts predict that this market will grow at a CAGR of close to 16% by 2021.
Advancements in regulations and infrastructure to combat speed limit violations is one of the key trends that will gain traction in the growth in the forthcoming years. To reduce the mortality rate due to road accidents, several governments across the world are focusing on introducing new regulations. Countries are including strict penalties such as high cash fines, imprisonment, and driving license cancellation to prevent speed limit violations. Moreover, they are using infrastructure including loop detectors, closed-circuit TV cameras, and video image processors to control traffic and detect violations. With advancements in regulations and infrastructure, the adoption of cruise control in motorcycles will increase in the coming years, fueling market growth.
Competitive landscape and key vendors
The motorcycle cruise control market consists of few international and regional players. Since the international players are expanding their presence in major regions, the local vendors are finding it hard to compete with them especially based on factors such as quality, features, safety, and price.
The leading vendors in the market are –
Motorcycle Cruise Controls
Juliano’s Hot Pod Parts
Segmentation by end-user and analysis of the motorcycle cruise control market
During 2016, the aftermarket motorcycle cruise control market segment accounted for the major shares of the motorcycle cruise control market. The high demand for entry-level premium motorcycles, the need for controlling speed, and the preference for fuel-efficient vehicles, will be the major factors contributing to the growth of the aftermarket motorcycle cruise control market segment in the coming years.
Geographical segmentation and analysis of the motorcycle cruise control market
This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the motorcycle cruise control market throughout the forecast period. Factors such as the growing demand for touring and cruiser motorcycles and the rise in speed limit violation detections, will drive the need for the adoption of motorcycle cruise control in this region.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global motorcycle cruise control market?
What are the key market trends impacting the growth of the global motorcycle cruise control market?
What are the challenges to market growth?
Who are the key vendors in the global motorcycle cruise control market?
What are the market opportunities and threats faced by the vendors in the global motorcycle cruise control market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global motorcycle cruise control market?
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