Tag: Motorcycle Market

According to the new market research report “Connected Motorcycle Market by Hardware (Embedded, Tethered), Calling Service, Communication Type (V2V, V2I), Network Type (C-V2X, DSRC), End-User (Private, Commercial), Service, Motorcycle Type, Application, Propulsion & Region – Global Forecast to 2027″, published by MarketsandMarkets, the global Connected Motorcycle Market size is projected to grow from USD 55 million in 2021 to USD 757 million by 2027, at a CAGR of 54.7%.

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Factors such as rising premium motorcycle sales around the world, growing demand for motorcycle safety and driver assistance along with growing demand for usage-based insurance and infotainment systems in motorcycles will boost the demand for the Connected Motorcycle Market. The upcoming regulations for rider safety in motorcycles in countries around the world will also boost the market.

Commercial segment is estimated to account for the largest market during the forecast period

Commercial users of connected motorcycles include fleet managers, insurance providers, and other service providers. All these stakeholders rely on real-time vehicle data collected using a tracking device. For instance, a tracking device in a vehicle can be installed under the bonnet or on the windscreen. It collects vehicle data for analysis by a network provider. The network provider then provides information to the insurance provider.  Vodafone Automotive offers usage-based insurance for vehicles in partnership with Generali Group. These insurers also offer additional value-added services such as theft alerts, crash assistance, roadside recovery, and emergency services including eCall and bCall. Usage-based insurance reduces the cost of premiums while offering easy claims. An accident/crash scene can be accurately reconstructed using the collected data. Hence, it helps reduce the number of false claims. Companies like Hertz Ride, Bikesbooking, Eagle Rider, Riderly, MdorNomad, RentaRide, Edelweissbike, Indian Motorcycle, and RetroVentures provide motorcycle leasing services for private individuals and corporations. They use connected vehicle features for their ride-hailing services. Many logistics companies also use connectivity services on their motorcycles to enable location tracking and vehicle dynamics for their delivery personnel. This leads to a rise in demand for connected motorcycles in the commercial vehicle sector.

Vehicle telematics provides new revenue opportunities for OEMs and other third-party service providers. The on-board sensors collect essential vehicle information such as speed, riding mode, trip information, and parking locations. OEMs analyze this data and profile riders according to their driving behavior. This data can ease the warranty claim process. OEMs now have the facility to void the warranty if the rider has intentionally violated warranty regulations by overspeeding and using wrong driving modes. OEMs can inform the rider about upcoming service maintenance to avoid costly repairs. This data is also useful for other third-party service providers. Service providers can offer tailored services for individual riders after analyzing the vehicle data. More such implications would boost the demand for connectivity services in motorcycles during the forecast period. E-commerce companies will also be prominent consumers of connected motorcycles due to their door-to-door delivery services in many populated countries. Companies like Amazon and Walmart have already been using some aspects of connected technology in motorcycles.

eCall is estimated to account for the largest market size during the forecast period

The eCall system comprises components such as positioning system (GPS [global positioning system]/GLONASS [global navigation satellite system]), communication system (GSM [global system for mobile communications]), and electronic control units. Once the vehicle sensors detect a crash or collision, the system automatically dials the emergency number and contacts the nearest emergency call center. The systems also collect a minimum set of data such as time of the accident, accurate position, and description of the crashed vehicle. The eCall function can be manually triggered in case the rider wants to contact the emergency center. The system is expected to increase the chances of survival in case of fatal crashes. The eCall service providers must comply with the data privacy regulations. According to upcoming EU regulations, the European eCall services will be activated only in case of an accident. Hence, the systems cannot track the vehicle all the time. The eCall services would be beneficial for motorcyclists, which are accident-prone road users.

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“Asia is expected to be the fastest-growing market during the forecast period.”

The Asia Pacific region comprises major motorcycle markets such as China, India, Indonesia, the Philippines, and Vietnam. The region accounted for more than 90% of the global motorcycle sales in 2020. As two-wheelers are a preferred mode of transportation due to affordability and low maintenance, Asian countries such as India, Thailand, Indonesia, and Vietnam have a high motorcycle penetration. Mid and budget-segment motorcycles dominate the market in these countries. However, with a steady increase in disposable income and rising demand for high-performance motorcycles, the region has attracted a number of premium motorcycle manufacturers.

The region is home to some of the most innovative motorcycle manufacturers, such as Honda, Kawasaki, Yamaha, and Suzuki. These OEMs are taking active participation in the Connected Motorcycle Consortium to develop connectivity services for motorcycles. They have already launched bestselling motorcycles in the budget segment with connectivity features. The region is also home to some of the top connected motorcycle software providers in the world. Companies like Delphi Automotive, Infineon Technologies, and KPIT have been working to develop automotive technologies including connected mobility and autonomous technology. This has increased the demand for connected mobility devices in the APAC region. Increasing collaborations to provide a safe and comfortable riding experience will boost the adoption of connected motorcycles in the region.

The high sales volume of motorcycles would drive the growth of the Connected Motorcycle Market in the Asia Pacific region. With a small percentage of motorcycles becoming connected over the years, the Asia Pacific market would easily surpass other markets due to high sales of two-wheelers in the coming years. Also, international motorcycle manufacturers have entered this regional market and introduced sports and adventure motorcycles with high displacement engines. Increasing millennial preference for high-performance motorcycles and changing lifestyles would boost the market growth in this region.

Key Market Players:

The Connected Motorcycle Market is dominated by Major OEMs including Yamaha (Japan), Suzuki (Japan), Kawasaki (Japan), BMW (Germany), and Harley Davidson (US) and component manufacturers include Bosch (Germany) and Continental AG (Germany). Many software providers, including Starcom Systems (UK), KPIT (India), and e-Novia (Italy), work with platform providers like IBM (US) and Amazon AWS (US) and network providers like Vodafone (UK) and Verizon (US) to develop product and service offerings for the connected motorcycle ecosystem. They have initiated partnerships to develop their connected motorcycle technology and provide finished products to their respective customers for the Connected Motorcycle Market.

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Electric Scooter and Motorcycle Market by Vehicle Type (E-Scooter/Moped & E-Motorcycle), Battery (Sealed Lead Acid & Li-Ion), Distance Covered, Voltage (36V, 48V, 60V & 72V), Technology (Plug-in & Battery), Vehicle Class, Region – Global Forecast to 2027

According to the new market research report “Electric Scooter and Motorcycle Market by Vehicle Type (E-Scooter/Moped & E-Motorcycle), Battery (Sealed Lead Acid & Li-Ion), Distance Covered, Voltage (36V, 48V, 60V & 72V), Technology (Plug-in & Battery), Vehicle Class, Region – Global Forecast to 2027″, published by MarketsandMarkets, the global Electric Scooter and Motorcycle Market size is projected to grow from 861 thousand units in 2020 to reach 5,948 thousand units by 2027, at a CAGR of 31.8%.

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54 – Figures
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Factors such as growing demand for energy-efficient commuting and governments supporting electric two-wheelers through subsidies & tax rebates have compelled two-wheeler OEMs to explore beyond the use of conventional internal combustion engines (ICE) in two-wheelers.

Growing concerns over increased pollution by the automotive industry is the prime reason government bodies are promoting electric two-wheelers over conventional ones. They have recognized the need for promoting energy-efficient vehicles to reduce the increasing pollution. To attract and encourage people to buy electric two-wheelers, government bodies of different countries are introducing lucrative schemes and incentives that include formidable discounts, free electricity (initially), and free public charging stations.

Asia Pacific is expected to be the largest market in the forecast

Large sales production and sales volumes in China, growing demand for affordable electric scooters for short-distance commuting in developing economies, and governments promoting electric two-wheelers are expected to drive the Asia Pacific market during the forecast period. China’s rapidly growing economy is driving the expansion of advanced technologies to improve electrification in the country. China has spent approximately USD 2.4 billion till 2020 to improve the charging facility infrastructure in the country. The Indian government is taking initiatives such as FAME-II, offering subsidies, and tax exemptions to buyers to promote electric two-wheelers in the country.

Europe is expected to be the second-largest market during the forecast

The Electric Scooter and Motorcycle Market in Europe is projected to be the second-largest during the forecast period. The Netherlands, which focuses a lot on greener vehicles, is estimated to be the largest market in Europe in 2020. The increasing concerns over carbon emissions due to conventional ICE two-wheelers and the efficiency of electric two-wheelers have led the European authorities to develop a large charging infrastructure network that has propelled the growth of the Electric Scooter and Motorcycle Market. Moreover, Europe is home to many leading electric two-wheeler manufacturing companies, such as Piaggio (Italy), Energica Motor Company (Italy), KTM (Austria), Silence (Spain), GOVECS (Germany), and Askoll (Italy).

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The below 75 miles segment is expected to be the largest segment in the forecast

The below 75 miles segment is estimated to dominate the global Electric Scooter and Motorcycle Market, as the majority of the electric scooters/mopeds have a range of up to 75 miles. Asia Pacific is leading the segment of below 75 miles range in 2020 due to the dominance of electric scooters/mopeds over electric motorcycles, especially in China. These scooters/mopeds are used daily to commute and have a range below 75 miles on a single full charge. Yadea, NIU, and Xinri are major manufacturers of electric two-wheelers in China, providing electric scooters with a traveling range of below 75 miles. Hero Electric, Ampere, and Okinawa are the Indian companies offering electric scooters with this range.

The Electric Scooter and Motorcycle Market is dominated by established players such as Yadea Group Holdings Ltd. (China), Jiangsu Xinri E-Vehicle Co., Ltd. (China), NIU International (China), Silence Urban Ecomobility (Spain), and Hero Electric (India).

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