Motorcycle Instrument Cluster Market to grow by USD 209.81 million from 2022 to 2027 \ Economies of scale benefit due to declining prices of LCD/TFT displays boosts the market growth - Technavio

NEW YORK, Aug. 25, 2023 /PRNewswire/ -- The motorcycle instrument cluster market size is set to grow by USD 209.81 million from 2022 to 2027, progressing at a CAGR of 3.23% during the forecast period. Discover Auto Parts & Equipment industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!

The motorcycle instrument cluster market covers the following areas:

Motorcycle Instrument Cluster Market Sizing
Motorcycle Instrument Cluster Market Forecast
Motorcycle Instrument Cluster Market Analysis

Company Landscape

The motorcycle instrument cluster market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. Some companies that are experts in the process industry are trying to increase their presence and market share by horizontally integrating with system integrators. End-users in discrete industries rely on their experiences from past purchases, based on which they maintain future relationships with companies. This enables global and established RPA companies to dominate local and regional companies in terms of quality, durability, reliability, and technological innovations. Hence, the competition among the companies in the global RPA market is expected to intensify during the forecast period.

• Backcountry.com LLC: The company offers motorcycle instrument clusters such as tachometer gauge, multifunction gauge, and one style gauge under its subsidiary called MotoSport LLC
• Continental AG: The company offers motorcycle instrument clusters such as 150cc, 500cc, and full LCD instrument clusters.
• Dime City Cycles Inc: The company offers motorcycle instrument clusters such as Acewell 4553 black speedo motorcycle gauges.

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Motorcycle Instrument Cluster Market - Market Segmentation

The motorcycle instrument cluster market report extensively covers market segmentation by End-user (automotive, construction and mining, and others), Type (hybrid, digital, and analog), and Geography (APAC, North America, Europe, South America, and the Middle East and Africa).

• The automotive segment is expected to have significant growth during the forecast period. The demand for this segment is fuelled by the consistent pursuit of technical advances by the automotive sector and the incorporation of smart technologies into motorcycles. For example, several manufacturers such as Yamaha and BMW Motorrad are dominating the market by producing cutting-edge and user-friendly clusters that provide features including GPS navigation, smartphone connectivity, and advanced diagnostics. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

Motorcycle Instrument Cluster Market - Regional Market Outlook

APAC is estimated to account for 70% of the market growth during the forecast period. Some of the main countries which are significantly contributing to the growth of the motorcycle instrument cluster market in the APAC region are China, India, and Japan. Factors such as affordability, convenience, and space-saving advantages are fuelling the demand for instrument clusters in China. Furthermore, there is an increasing preference for commuter and mid-segment motorcycles in countries such as India, China, and Indonesia. Hence, such factors are expected to drive market growth in the region during the forecast period.

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Companies Mentioned

• Backcountry.com LLC
• Cluster Repairs UK
• Comoto Holdings Inc.
• Continental AG
• Dime City Cycles Inc.
• Embien Technologies Pvt. Ltd.
• Galaxy Indicators India Pvt. Ltd.
• Infineon Technologies AG
• JPM Group
• Marelli Holdings Co. Ltd.
• Minda Corp. Ltd.
• MTA Spa
• Nippon Seiki Co. Ltd.
• Pricol Ltd.
• Robert Bosch GmbH
• Suprajit Engineering Ltd.
• Texas Instruments Inc.
• Visteon Corp.
• VVDN Technologies

What's New? 

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report! 

Motorcycle Instrument Cluster Market - Market Dynamics

Key Driver

Economies of scale benefit owing to declining prices of LCD/TFT displays driving the market growth during the forecast period. There is a growing concern regarding the hardware costs across OEMs in the two-wheeler and automotive industries. The increase in popularity of technology in consumer electronics leads to an increase in its volume resulting in price reduction and benefits from related industries. As a result, it enables OEMs to employ new technology cost-effectively. For instance, the cost of LCD panels has declined due to an increase in smartphones, resulting in overall cost reduction in human-machine interface (HMI) systems. Hence, such factors are expected to drive market growth during the forecast period.

Major Trend

Multilayer displays enabling further developments in digital instrument clusters is a primary trend in the market during the forecast period. 

Significant Challenge

The unpopularity of instrument clusters among motorcycle enthusiasts is a significant challenge impeding market growth during the forecast period. 

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Table of Contents

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

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