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The motorcycle instrument cluster market share is expected to increase by 6.36 million units from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 3.01%.
This motorcycle instrument cluster market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the motorcycle instrument cluster market segmentation by type (hybrid, digital, and analog) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The motorcycle instrument cluster market report also offers information on several market vendors, including Backcountry.com LLC, Cluster Repairs UK, Comoto Holdings Inc., Continental AG, Dime City Cycles Inc., Embien Technologies Pvt. Ltd., Galaxy Indicators India Pvt. Ltd., JPM Group, Marelli Holdings Co. Ltd., Minda Corp. Ltd., MTA Spa, Nippon Seiki Co. Ltd., Pricol Ltd., Robert Bosch GmbH, Super Bright LEDs Inc., Suprajit Engineering Ltd., Texas Instruments Inc., and VVDN Technologies Pvt. Ltd among others.
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The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the motorcycle instrument cluster market.
Key Motorcycle Instrument Cluster Market Driver
The declining prices of LCD/TFT displays and OLED devices are an advantage for the motorcycle instrument cluster market as automotive OEMs can easily introduce the same in the mass market in developed regions such as North America and Europe at least by the end of the forecast period. Hardware cost remains a primary concern for automotive OEMs in the two-wheeler and four-wheeler industries. When any new technology is adopted in the consumer electronics segment, its volume grows, which leads to a reduction in its prices and benefits related industries, which, thus, allows OEMs to adopt new technologies in a cost-effective manner. The cost of LCD panels has been declining owing to their adoption in smartphones. This has allowed suppliers to reduce the cost of LCD displays, thereby reducing the overall cost of the human-machine interface (HMI) system. The anticipated decline in the costs associated with the development and production of fully digital instrument clusters is an indicator that hybrid displays will become more affordable and find significant penetration in the mass market by the end of the forecast period. As the prices of LCD/TFT displays continue to fall, the penetration of high-end instrument clusters, such as fully reconfigurable digital clusters and hybrid clusters, is expected to increase in the global motorcycle market.
Key Motorcycle Instrument Cluster Market Trend
Multilayer displays that enable further developments in digital instrument clusters will fuel the global motorcycle instrument cluster market's growth. 3D graphics interfaces are gaining popularity among customers as they allow a more precise view of the information on the instrument cluster. The more realistic these 3D graphics are the higher customer satisfaction. Therefore, vendors are working continuously to develop displays that allow realistic 3D graphics, and this is a crucial driver for the adoption of the digital instrument cluster in the automotive market, including in motorcycles. Multilayer display technology is the latest addition to digital instrument clusters, which provides a 3D graphics experience without the need for glasses or complicated eye-tracking or detection capabilities. Multilayer display technology creates a sense of depth using two high-fidelity digital displays layered on top of each other. Visteon and Delphi are prominent vendors that have introduced multilayer display technology into the motorcycle digital instrument cluster market. The multilayer displays that have been developed are of the same size as the earlier flat single-layer display but stack two displays with a lower resolution of 1440 x 540 pixels, which are 8 mm apart. In addition, experiencing 3D graphics without glasses is the USP of this type of display, which will drive demand from a wider customer segment.
Key Motorcycle Instrument Cluster Market Challenge
The unpopularity of instrument clusters among motorcycle enthusiasts is the major challenge to the global motorcycle instrument cluster market's growth. Motorcycling is considered more than just a means to commute in many regions of the world. It is perceived as a lifestyle option, which is reflected in various rider groups and communities globally. The Harley Owners Group is one of the largest motorcycle communities and is the fastest-growing group of its kind. A significant section of motorcycle enthusiasts has not accepted the emergence of electronic content in motorcycles as they consider these technologies to deprive motorcyclists of the pure riding pleasure offered by such advanced vehicles. These advanced instrument cluster technologies and innovative functions are perceived to diminish the actual essence of motorcycling riding that existed when motorcycles were merely raw mechanical machines. Performance bikes were designed to give a sense of adventure when coupled with the skills of the rider. However, the emergence of new technologies in the motorcycle space may diminish these attributes for the motorcycling community. Technologies that enhance safety with throttle mapping, enhanced braking, and vehicle intelligence are not considered to contribute to the skills and expertise of the rider. The acceptance of the innovations and developments in motorcycle instrument clusters is uncertain among motorcycle enthusiasts.
This motorcycle instrument cluster market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global motorcycle instrument cluster market as a part of the global automotive components and accessories market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the motorcycle instrument cluster market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the motorcycle instrument cluster market encompasses successful business strategies deployed by the key vendors. The motorcycle instrument cluster market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The motorcycle instrument cluster market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the motorcycle instrument cluster market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global auto components market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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81% of the market’s growth will originate from APAC during the forecast period. China, India, Indonesia, and Thailand are the key markets for the motorcycle instrument cluster market in APAC. Market growth in this region will be slower than the growth of the market in other regions.
The declining prices of LCD/TFT displays and OLED will facilitate the motorcycle instrument cluster market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 had an adverse influence on the growth of the automobile industry in APAC. As a result, governments of the countries, including India, China, and Japan, were obliged to impose nationwide lockdowns in 2020. The pandemic further resulted in the temporary closure of several vehicle manufacturing units in APAC, leading to a decline in the production of two-wheelers and other ancillary automotive components, such as motorcycle instrument clusters in APAC. Therefore, in 2020, the increase in the number of COVID-19 cases negatively affected the growth of the regional motorcycle instrument cluster market in APAC. However, in 2021, the initiation of vaccination campaigns in APAC, as well as an increase in investment inflows from government and private sources into the automotive industry, led to the reopening of motor vehicle manufacturing plants in APAC. As a result of these factors, the growth of the motorcycle instrument cluster market in APAC is expected to increase during the forecast period.
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The motorcycle instrument cluster market share growth by the Hybrid segment will be significant during the forecast period. The demand for hybrid instrument clusters in motorcycles is expected to accelerate owing to the wider use of this type of cluster by motorcycle OEMs for product differentiation across several motorcycle variants in the highly competitive market. The adoption of motorcycle hybrid instrument clusters is increasing as motorcycle OEMs consider it a point of differentiation in the highly competitive motorcycle market, particularly in APAC.
This report provides an accurate prediction of the contribution of all the segments to the growth of the motorcycle instrument cluster market size and actionable market insights on the post-COVID-19 impact on each segment.
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Motorcycle Instrument Cluster Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.01% |
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Market growth 2022-2026 |
6.36 million units |
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Market structure |
Fragmented |
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YoY growth (%) |
2.96 |
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Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
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Performing market contribution |
APAC at 81% |
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Key consumer countries |
US, China, India, Indonesia, and Thailand |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Backcountry.com LLC, Cluster Repairs UK, Comoto Holdings Inc., Continental AG, Dime City Cycles Inc., Embien Technologies Pvt. Ltd., Galaxy Indicators India Pvt. Ltd., JPM Group, Marelli Holdings Co. Ltd., Minda Corp. Ltd., MTA Spa, Nippon Seiki Co. Ltd., Pricol Ltd., Robert Bosch GmbH, Super Bright LEDs Inc., Suprajit Engineering Ltd., Texas Instruments Inc., and VVDN Technologies Pvt. Ltd |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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