The Motorcycle Instrument Cluster Market Share is expected to increase by 3.14 million units from 2019 to 2024, at an accelerated CAGR of 1.75%, according to the recent market study by Technavio.
Highlights-
- Driver- Declining prices of LCD/TFT display to drive the market.
- Trend- Growing popularity of 3D graphics interfaces is expected to be a key trend of the market.
- Key Companies- Continental AG, Dakota Digital Inc., JPM Group, KKR & Co. Inc., Marelli Holdings Co. Ltd., Nippon Seiki Co. Ltd., Pricol Ltd., Robert Bosch GmbH, Texas Instruments Inc., and Visteon Corp. among others.
- Key Region & Countries- India, China, Indonesia, Thailand, US, and Taiwan are the leading countries of the market. APAC is expected to garner significant business opportunities for the vendors during the forecast period.
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Learn More about Key Driver & Trend of the Market-
- Motorcycle Instrument Cluster Market Driver:
- Declining prices of LCD/TFT display:
The declining prices of LCD/TFT display and OLED are an advantage for the motorcycle instrument cluster market as the OEMs can easily introduce the same in the mass market, at least by the end of the forecast period in developed regions such as the Americas and Europe. The anticipated decline in costs associated with the development and production of fully digital instrument clusters is an indicator that hybrid displays will be affordable and significantly penetrate 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 motorcycles market.
- Motorcycle Instrument Cluster Market Trend:
- Growing popularity of 3D graphics interfaces:
The 3D graphics interfaces are gaining popularity among customers as they allow a more precise view of the cluster information. The more realistic these 3D graphics are, the more is the customer satisfaction. Therefore, vendors are working continuously to develop displays that allow realistic 3D graphics, and this is the crucial driver for the adoption of the digital instrument cluster in the automotive market. The multilayer display technology is the latest addition to the digital instrument cluster, which provides a 3D graphics experience without glasses or complicated eye-tracking or detection. The multilayer display technology creates a sense of depth using two high-fidelity digital displays layered on top of each other.
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Vendor Insights-
The motorcycle instrument cluster market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
- Continental AG- The company's instrument cluster offerings have a high-value appearance in terms of color, brightness, and surfaces with 2D and 3D dials. The company provides electronic instrument clusters for motorcycles. The product portfolio ranges from single gauges to fully-fledged clusters or colored display controllers.
- Dakota Digital Inc.- The company offers a line of products such as MLX-8414 2014 -2020 Replacement Touring Gauges, MLX-8600 Series 6 Gauge Dresser Pack, MLX-2000 Series 4-1/2'' tank Mounted Gauges for Road King/Softail/Deuce/Dyna, and MLX-3000 Series 3-3/8''Replacement gauges for Sportster/Dyna/Softail/ Rocker among others.
- JPM Group- The company manufactures a line of automotive parts, castings, and electronic and energy parts such as heater control panels, CNG cylinders, and door latches among others. The company also provides instrument clusters for light duty two wheelers.
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Regional Market Outlook
93% of the market's growth will originate from APAC during the forecast period. India, China, Indonesia, Thailand, and Taiwan are the key markets for motorcycle instrument clusters in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America.
The rising use of motorcycles for personal transport and the increasing demand for heavyweight motorcycles will facilitate the motorcycle instrument cluster market growth in APAC over the forecast period.
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Motorcycle Instrument Cluster Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 1.75% |
Market growth 2020-2024 |
3.14 mn units |
Market structure |
Fragmented |
YoY growth (%) |
-20.45 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 93% |
Key consumer countries |
India, China, Indonesia, Thailand, US, and Taiwan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Continental AG, Dakota Digital Inc., JPM Group, KKR & Co. Inc., Marelli Holdings Co. Ltd., Nippon Seiki Co. Ltd., Pricol Ltd., Robert Bosch GmbH, Texas Instruments Inc., and Visteon Corp. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization preview |
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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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
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Website: www.technavio.com/
SOURCE Technavio
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