Nov 27, 2017   SOURCE: BusinessWire

Global Motorcycle Cruise Control Market - Need for Fuel Efficiency to Boost Growth | Technavio

Technavio market research analysts forecast the global motorcycle cruise control market to grow at a CAGR of close to 16% during the forecast period, according to their latest report.

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Technavio has published a new market research report on the global motorcycle cruise control market ...

Technavio has published a new market research report on the global motorcycle cruise control market from 2017-2021. (Graphic: Business Wire)

The market study covers the present scenario and growth prospects of the global motorcycle cruise control market for 2017-2021. The report also lists OEMs and the aftermarket as the two main end-users, of which the aftermarket accounted for close to 78% of the market share in 2016.

According to Ganesh Subramaniam, a lead analyst at Technavio for automotive electronics research, “The global motorcycle cruise control market is expected to grow at a steady rate during the forecast period, owing to the increased riding pleasure after installing cruise control. The growth of the global market is attributed to the increased sales of mid-segment and premium motorcycles due to growing preference for touring and adventure motorcycles.”

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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global motorcycle cruise control market:

  • Increased electrification of mechanical components
  • Increasing demand for fuel-efficient motorcycles
  • Increasing touring customer segment

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Increased electrification of mechanical components

Electronic components help in increasing the efficiency and riding experience in a motorcycle. This key factor is enabling rapid electrification of components, which were earlier being used mechanically. Electrification of these features forms the basis for electronic cruise control due to its objective of providing consistent speed by automatically adjusting to any change in traffic on the road. This acts as a driver for the adoption of cruise control in motorcycles.

The technological development of vehicle speed sensors gave birth to ABS, which monitors vehicle speed through vehicle speed sensor and regulates braking pressure appropriately. The development of electronic components, such as direct fuel injection and ride-by-wire technology, gave way to motorcycle cruise control. Electronic fuel injection helps in improving the fuel efficiency by electrifying fuel injection into the combustion chamber of the engine. Technavio expects these developments to drive the adoption of electronic cruise control among OEMs and the aftermarket.

Increasing demand for fuel-efficient motorcycles

With the continuous increase in fuel prices, fuel economy plays a key role, particularly for long-distance travel. Cruise control can improve the fuel economy by limiting the amount of fuel the engine receives and reducing the gasoline consumption, which is wasted on acceleration and deceleration. Due to the benefits of fuel efficiency, the demand for motorcycle cruise control is increasing among OEMs, which augurs well for the growth of the market.

“Motorcycle cruise control maintains a consistent speed, which helps in increasing fuel efficiency. Cruise control helps in managing the engine fueling in the most optimum way to ensure that only the required amount of fuel is used to maintain a specific speed. When going uphill on a steep, the cruise control allows more fuel inside the engine to generate more power to keep a steady speed. While going downhill, it cuts the fuel supply accordingly to keep up the steady speed,” says Ganesh.

Increasing touring customer segment

The increasing focus of consumers on mid-segment and premium motorcycles is attributed to the comfort level offered by these motorcycles. This is a major driver for the global motorcycle cruise control market.

Motorcycle cruise control helps the rider maintain a consistent speed by fueling the engine. It prevents issues such as high fatigue and wrist cramps caused by continuous acceleration and deceleration, thus providing comfort to the rider, especially over long-distance travel. This also helps to increase the safety of the rider as fatigue can lead to accidents.

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