Motorcycle adaptive cruise control: Key market research findings
- Expansion of the touring motorcycle segment drives growth in the market
- Americas dominates the market geographically
- Key vendors – McCruise, Rostra Precision Controls, Murph’s Kits, and Juliano’s Hot Rod Parts
Technavio’s market research analysts predict the global motorcycle adaptive cruise control market to grow at a CAGR of more than 9% between 2016 and 2020. Much of this market’s growth is driven by the expansion of the customer segment for touring motorcycles. Motorcycle adaptive cruise control mechanisms allow riders to let go of the throttle and yet, maintain a consistent speed by fueling the engine steadily. During 2015, the Americas accounted for almost 62% of the overall market share owing to the presence of a large number of ultra-luxury and touring motorcycles in the region.
The new market research report from Technavio presents a breakdown and analysis of the global motorcycle adaptive cruise control segments based on the motorcycle type.
“The latest trend in the market is the rising demand for ultra-luxury and luxury motorcycles. The machines in these segments are more powerful and efficient compared to traditional motorcycles. The growth in the sale of touring motorcycles is directly proportional to the demand for ultra-luxury motorcycles with adaptive cruise control in the market,” says Siddarth Jaiswal, Lead Analyst, Automotive, Technavio Research.
The ultra-luxury segment accounted for around 75% of the overall market space in 2015 to become the primary revenue generator in the global motorcycle adaptive cruise control market. Adaptive cruise control mechanisms are expensive and offer the advantage of automatically monitoring and maintaining motorcycle travel speeds. The growing emphasis on speed limits on highways is expected to boost growth in the motorcycle adaptive cruise control market for ultra-luxury motorcycles during the forecast period.
The key vendors in the market include McCruise, Rostra Precision Controls, Murph’s Kits, and Juliano’s Hot Rod Parts. Due to its expertise in cruise control products and a broad product portfolio, McCruise leads the adaptive cruise control industry and has a strong presence in the cruise control aftermarket. The company also offers to ship their products worldwide, which results in its higher market penetration.
A more detailed analysis is available in the Technavio report, Global Motorcycle Adaptive Cruise Control Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
