Market Trends of Motorcycle Advanced Rider Assistance System Industry
This section covers the major market trends shaping the Motorcycle Advanced Rider Assistance System Market according to our research experts:
Growing Motorbike Recreational Travel
Constantly rising recreational activity and travel via motorbike is an immense opportunity for the rider assistance system market. Motorcycle travel is on the rise in several countries like Italy, Slovakia, France, among few others. The countryside roads present in these places offer excellent riding pleasure to the motorcyclists and are a huge factor contributing to the sales of high-end motorbikes. Manufacturers like Aprilia, Piaggio, BMW, Ducati, Yamaha, etc., are providing numerous rider assistance and safety systems as standard equipment across their motorbikes product range.
Japan recorded a huge number of 333,740 units of motorcycles production only in the category of over 250 CC (Cubic Capacity) engines in 2019, indicating the high demand for performance bikes in the country. The demand for high-performance bikes is an indicator of increased demand for safety and rider assistance systems installed in these vehicles.
The United States is another huge market for motorbike sales, and consequently, the Rider Assistance systems sales as the majority of vehicles sold in the country are equipped with the latest technology and features in terms of safety and assistance systems. Harley-Davidson recorded the highest unit sales in the United States in 2020, among other makers like Honda, Yamaha, Kawasaki, etc.
Asia-Pacific Is Expected To Witness Higher Growth
With the increasing awareness and acceptance of safety technology by governments and customers, the automotive industry in India is evolving faster than before, with active mandates on safety features. For instance, India is a huge market for motorcycles due to the consumer preference for fuel-efficient motorcycle riding over four-wheelers.
The majority of motorcycles used in India do not possess any assistance systems for rider safety. The new emission standards set by the Indian government and increased awareness of rider safety among the buyers is an important growth factor for the rider assistance market in India. Also, the high figures of domestic motorcycle sales at 17.42 million units in FY2020 and 15.12 million units in FY2021, indicate the huge potential in the Indian market.
China is the world's largest automobile hub and recorded immense motorcycle and scooter sales figures in both 2020 and the beginning of 2021. The sales went up to 3.7 million units of motorcycles in just the first quarter of 2021, indicating the huge demand for safety and rider assistance systems in the Chinese national market.
On the other hand, Japan is home to some of the biggest two-wheeler brands like Honda, Suzuki, Yamaha, and Kawasaki. The high-performance motorcycles manufactured by these brands are major users of different rider assistance systems provided by manufacturers, worldwide.
