Two Wheeler Sensors Market Forecast and CAGR
According to latest research by Fact.MR, two wheeler sensors market is set to witness a lucrative growth during 2021-2031. The two wheeler sensors demand is expected to grow between CAGR of 7% to 9% during 2021-2031. The increasing adoption of advanced features in the two wheeler has enhanced the demand for sensors. Though due to COVID-19 pandemic the overall sales were hampered and the demand drastically declined during 2020. However, it is estimated that the market will show positive growth from 2021 onwards.
What is Driving Demand for Two Wheeler Sensors?
The growing production and sales of motorcycles and scooters is the key factor driving the demand for two wheeler sensors. The rise in the demand for electric scooters have also benefitted the market.
Moreover, the rising customer preference for efficiency, safety and control is pushing the demand for the two wheeler sensors in the automotive sector. These sensors are used in various applications to enhance the efficiency of the two wheeler.
The high-end and performance motorcycle have higher adoption of sensors, as compared to standard or city-ride motorcycles. Therefore, growing penetration of these motorcycles will develop the market in coming years
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Position Sensors are Likely to Augment Two Wheeler Sensors Sales
In recent years, there is a wide application of position sensors in the automobiles. Position sensors is mainly used in measuring the positions in automobiles such as chassis, safety & control etc. Besides these applications, position sensors also have significant use in brake position sensing, clutch position sensing, accelerator position sensing, gear shift position sensing, headlight position sensing and seat position sensing. Due to the high end application of position sensors, the demand is reaching new heights.
East Asia & South Asia Demand Outlook for Two Wheeler Sensors
The East Asia & South Asia is expected to hold significant share and witness a steady growth in two wheeler sensors market. East Asia which comprises of leading two wheeler market, China, the high demand and production of two wheelers have boosted the two wheeler sensors sales in China.
China and Japan manufacturers in the sensors space are investing in large numbers to produce advanced sensors through high end use of technology and expertise. In South Asia, India is the most prominent market for motorcycle and scooter sensor, India being a key two wheeler production and sales hub, is estimated to grow at a significant rate during the forecast period
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Europe Sales Outlook for Two Wheeler Sensors
The demand for motorcycle and scooter sensors is expected to have substantial growth in the near future due to the growing production and sales of two wheelers. Due to the strict emission norms, government initiatives, technological innovation and strategic partnership, the sensor manufacturers are expanding their business which will provide a major push to the growth of two wheeler sensors.
Who are the Key Manufacturers of Two Wheeler Sensors?
Some of the leading manufacturers in motorcycle sensors are
- Sensata Technologies,
- Magneti Marelli S.p.A
- Vitesco Technologies
- Denso Corporation
- Shenzhen Ninghui Technology Ltd
- Ruian Chenho Auto Electronic Co.Ltd
- ZF Friedrichshafen AG
- Pucheng Sensors (Shanghai) Co. Ltd.
- Hyundai Kefico Corporation
- Infineon Technologies AG
- Methode Electronics Automotive Group.
Many leading manufacturers are continuously investing on the manufacturing capabilities & strategic acquisitions to offer latest technologies, better quality and delivery system in the motorcycle and scooter sensors market.
Manufacturing companies are making high use of innovation and expanding their manufacturing operations and supply network.
The manufacturers are engaged in the expansion of their product portfolio and customer base expansion by bringing the mix of technology, efficiency and customization in their business.
An Adaptive Approach to Modern-day Research Needs
Two Wheeler Sensors Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Product Type
- Coolant Temperature Sensor
- Throttle Position Sensor
- Air Temperature Sensor
- Engine Rotation Sensor
- Oxygen Sensor
- Position Sensor
- Knock Sensor
- Speed Sensor
- Pressure Sensor
By Vehicle Type
- Fuel Injection
- Brake System
By Sales Channel
- Original Equipment Manufacturers
- North America
- East Asia
- South Asia & Pacific
- Latin America
- Middle East and Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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