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Two-wheeler Ignition Switch Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

  • Published: Jul 2022
  • Pages: 128
  • SKU: IRTNTR73845
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The two-wheeler ignition switch market share is expected to increase to USD 221.48 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.58%.

This two-wheeler ignition switch market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers two-wheeler ignition switch market segmentations by type (key-enabled and keyless) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The two-wheeler ignition switch market report also offers information on several market vendors, including Honeywell International Inc., JPM Group, JS Enterprises, Minda Corp. Ltd., Minda Industries Ltd., Sandhar Technologies Ltd., Sonu Auto Electronics, and Zadi SPA among others.

What will the Two-wheeler Ignition Switch Market Size be During the Forecast Period?

Two-wheeler Ignition Switch Market Size

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Two-wheeler Ignition Switch Market: Key Drivers, Trends, and Challenges

The integration of ignition switch with other features is notably driving the two-wheeler ignition switch market growth, although factors such as recalls from faulty ignition switches add to manufacturing costs, which may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the two-wheeler ignition switch industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Two-wheeler Ignition Switch Market Driver

The integration of ignition switch with other features is one of the factors driving the two-wheeler ignition switch market growth. Primarily, the integration of ignition switch with multiple features will prove beneficial for manufacturers in terms of costs as well as favor consumers. For instance, the increasing popularity of integrating the immobilizer with the ignition switch supports the two-wheeler ignition switch market in terms of value. An immobilizer improves the security system of two-wheelers as it enables engine ignition only with the authorized key. Significantly, the immobilizer detects the personal code when the ignition key is turned on and requests for the second code that gets changed and stored onto the key every time it is used. Once the second code is retrieved from the key, both codes need to match with the one stored in the immobilizer. Such factors will drive the market growth during the forecast period. 

Key Two-wheeler Ignition Switch Market Trend

The development of keyless ignition system in two-wheelers is one of the key two-wheeler ignition switch market trends contributing to the market growth. There is increasing popularity of keyless ignition systems and the growing need for safety and security in two-wheelers. Also, as the technology matures the OEMs such as Ducati, BMW Motorrad, and KTM are expected to equip more models with the keyless system in the near future. Currently,  keyless ignition systems are provided as an optional feature in most two-wheeler models. Moreover, technological innovations are expected to make two-wheelers operate with smartphone and smartwatch, with integrated display units in key fobs depicting vehicle information such as fuel level and tire pressure. Such technological innovations will propel the market growth during the forecast period.

Key Two-wheeler Ignition Switch Market Challenge

Recalls from faulty ignition switches add to manufacturing costs, which may impede the two-wheeler ignition switch market growth. Defective components or improper assembly have prevailed in the automotive industry, which has led to product recalls. These moves are initiated to preempt damage and injury to the product and user. Additionally, product recalls add to the costs of manufacturers and suppliers involved in the upstream value chain of a manufactured product. However, add-on costs accruing from recalls of defective products challenge manufacturers and adversely affect the market they operate in. Therefore, product recalls adding to the costs of two-wheeler ignition switch manufacturers will challenge the global two-wheeler ignition switch market during the forecast period.

This two-wheeler ignition switch 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.

Parent Market Analysis

Technavio categorizes the global two-wheeler ignition switch market as a part of the global motorcycle 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 two-wheeler ignition switch market during the forecast period.

Who are the Major Two-wheeler Ignition Switch Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Honeywell International Inc.
  • JPM Group
  • JS Enterprises
  • Minda Corp. Ltd.
  • Minda Industries Ltd.
  • Sandhar Technologies Ltd.
  • Sonu Auto Electronics
  • Zadi SPA

 

This statistical study of the two-wheeler ignition switch market encompasses successful business strategies deployed by the key vendors. The two-wheeler ignition switch market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Honeywell.com - The company offers two-wheeler ignition switches with multiple position key switch options that can easily be integrated into specific application designs.
  • Jpmgroup.co.in - The company offers two-wheeler ignition switches as an intelligent automotive product providing efficient powering and performance.
  • Jse.ind.in - The company offers two-wheeler ignition switches that are made using quality grade materials like aluminum, rubber and stainless steel for long life and durability.

To make the most of the opportunities and recover from 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 two-wheeler ignition switch 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.

Two-wheeler Ignition Switch Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the two-wheeler ignition switch 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.

Which are the Key Regions for Two-wheeler Ignition Switch Market?

Two-wheeler Ignition Switch Market Market segmentation by region

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87% of the market's growth will originate from APAC during the forecast period. China, India, Thailand, and Indonesia are the key markets for the two-wheeler ignition switch market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Advancements in technology and mass production systems are the points of investment for market incumbents, which will facilitate the two-wheeler ignition switch 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 Impact and Recovery Analysis

In 2020, the COVID-19 pandemic negatively impacted the regional two-wheeler ignition switch market. However, with the lifting of lockdown restrictions and the reluctance of people to use public transport for their safety against the disease, the sales of two-wheeled vehicles increased in Q4 2021. This has positively impacted the regional two-wheeler ignition switch market, which is expected to grow during the forecast period.

What are the Revenue-generating Type Segments in the Two-wheeler Ignition Switch Market?

Two-wheeler Ignition Switch Market Segmentation

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The two-wheeler ignition switch market share growth by the key-enabled segment will be significant during the forecast period. The increasing demand for two-wheelers will significantly impact the prospects of the key-enabled segment in the global two-wheeler ignition switch market during the forecast period. Moreover, technological advancements in ignition switches to enhance vehicle security are also driving the two-wheeler ignition switch market by the key-enabled segment. Thus, technological developments and design changes in key-enabled ignition switches will boost this segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the two-wheeler ignition switch market size and actionable market insights on post COVID-19 impact on each segment.

 

Two-wheeler Ignition Switch Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.58%

Market growth 2022-2026

$ 221.48 million

Market structure

Concentrated

YoY growth (%)

4.75

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 87%

Key consumer countries

US, China, India, Thailand, and Indonesia

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Honeywell International Inc., JPM Group, JS Enterprises, Minda Corp. Ltd., Minda Industries Ltd., Sandhar Technologies Ltd., Sonu Auto Electronics, and Zadi SPA

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 forecast period.

Customization purview

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What are the Key Data Covered in this Two-wheeler Ignition Switch Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive two-wheeler ignition switch market growth during the next five years
  • Precise estimation of the two-wheeler ignition switch market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the two-wheeler ignition switch industry across APAC, Europe, North America, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of two-wheeler ignition switch market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Type

    • 5.1 Market segments
      • Exhibit 24: Chart on Type - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Type - Market share 2021-2026 (%)
    • 5.2 Comparison by Type
      • Exhibit 26: Chart on Comparison by Type
      • Exhibit 27: Data Table on Comparison by Type
    • 5.3 Key-enabled - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Key-enabled - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Key-enabled - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Key-enabled - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Key-enabled - Year-over-year growth 2021-2026 (%)
    • 5.4 Keyless - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Keyless - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Keyless - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Keyless - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Keyless - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Type
      • Exhibit 36: Market opportunity by Type ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 India - Market size and forecast 2021-2026
      • Exhibit 66: Chart on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.10 Thailand - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Thailand - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Thailand - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Thailand - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Thailand - Year-over-year growth 2021-2026 (%)
    • 7.11 US - Market size and forecast 2021-2026
      • Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.12 Indonesia - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Indonesia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Indonesia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Indonesia - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Indonesia - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 Honeywell International Inc.
              • Exhibit 89: Honeywell International Inc. - Overview
              • Exhibit 90: Honeywell International Inc. - Business segments
              • Exhibit 91: Honeywell International Inc. - Key news
              • Exhibit 92: Honeywell International Inc. - Key offerings
              • Exhibit 93: Honeywell International Inc. - Segment focus
            • 10.4 JPM Group
              • Exhibit 94: JPM Group - Overview
              • Exhibit 95: JPM Group - Product / Service
              • Exhibit 96: JPM Group - Key offerings
            • 10.5 JS Enterprises
              • Exhibit 97: JS Enterprises - Overview
              • Exhibit 98: JS Enterprises - Product / Service
              • Exhibit 99: JS Enterprises - Key offerings
            • 10.6 Minda Corp. Ltd.
              • Exhibit 100: Minda Corp. Ltd. - Overview
              • Exhibit 101: Minda Corp. Ltd. - Business segments
              • Exhibit 102: Minda Corp. Ltd. - Key news
              • Exhibit 103: Minda Corp. Ltd. - Key offerings
              • Exhibit 104: Minda Corp. Ltd. - Segment focus
            • 10.7 Minda Industries Ltd.
              • Exhibit 105: Minda Industries Ltd. - Overview
              • Exhibit 106: Minda Industries Ltd. - Product / Service
              • Exhibit 107: Minda Industries Ltd. - Key offerings
            • 10.8 Sandhar Technologies Ltd.
              • Exhibit 108: Sandhar Technologies Ltd. - Overview
              • Exhibit 109: Sandhar Technologies Ltd. - Business segments
              • Exhibit 110: Sandhar Technologies Ltd. - Key news
              • Exhibit 111: Sandhar Technologies Ltd. - Key offerings
              • Exhibit 112: Sandhar Technologies Ltd. - Segment focus
            • 10.9 Sonu Auto Electronics
              • Exhibit 113: Sonu Auto Electronics - Overview
              • Exhibit 114: Sonu Auto Electronics - Product / Service
              • Exhibit 115: Sonu Auto Electronics - Key offerings
            • 10.10 Zadi SPA
              • Exhibit 116: Zadi SPA - Overview
              • Exhibit 117: Zadi SPA - Product / Service
              • Exhibit 118: Zadi SPA - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 119: Inclusions checklist
                • Exhibit 120: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 121: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 122: Research methodology
                • Exhibit 123: Validation techniques employed for market sizing
                • Exhibit 124: Information sources
              • 11.5 List of abbreviations
                • Exhibit 125: List of abbreviations

              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.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Two-wheeler Ignition Switch Market market growth will increase by $221.48 mn during 2022-2026.
              The two-wheeler ignition switch market market is expected to grow at a CAGR of 5.58% during 2022-2026.
              Technavio has segmented the two-wheeler ignition switch market market by type (Key-enabled and Keyless) and geography (APAC, Europe, North America, South America, and Middle East and Africa).
              Honeywell International Inc., JPM Group, JS Enterprises, Minda Corp. Ltd., Minda Industries Ltd., Sandhar Technologies Ltd., Sonu Auto Electronics, Zadi SPA are a few of the key vendors in the two-wheeler ignition switch market market.
              APAC will register the highest growth rate of 87% among the other regions. Therefore, the two-wheeler ignition switch market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the two-wheeler ignition switch market market growth are:
              • Integration of ignition switch with other features
              • Development of keyless ignition system in two-wheelers
              The two-wheeler ignition switch market market vendors should focus on grabbing business opportunities from the key-enabled segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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