Global Two-wheeler Ignition Switch Market 2019-2023 | 8% CAGR Projection Through 2023 | Technavio

The global two-wheeler ignition switch market is expected to post a CAGR of almost 8% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio announced its latest market research report titled global two-wheeler ignition switch market 2019-2023. (Graphic: Business Wire)

Asia accounts for a significant share of the global two-wheeler sales. Despite the increase in road congestion and sluggish development of road infrastructure, the sale of two-wheelers has been growing steadily in Asian countries. Countries such as China, India, and others are seeing a surge in the demand for two-wheelers owing to the growing demands for daily commuting. Therefore, the increase in the sales of two-wheelers in Asia will have a positive impact on the growth of the global two-wheeler ignition switch market.

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As per Technavio, the development of the keyless ignition system in two-wheelers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Two-Wheeler Ignition Switch Market: Development of Keyless Ignition System

Several two-wheeler manufacturers have started offering keyless ignition systems as an option in some of their two-wheeler models. Keyless ignition systems improve convenience and safety in two-wheelers and enable locking and unlocking of the steering lock as well as the fuel filler cap. Currently, the penetration of keyless ignition systems in the two-wheeler market is low as only a few luxury two-wheeler models come equipped with this feature. With the growing demand for convenience, safety and security in two-wheelers, the adoption of keyless ignition systems will increase during the forecast period.

“Many premium motorcycle makers are shifting their manufacturing plants to Asian countries. In addition, the development of a biometric-based ignition system will further boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Two-Wheeler Ignition Switch Market: Segmentation Analysis

This market report segments the global two-wheeler ignition switch market by type (key-enabled ignition switch and keyless ignition switch) and geography (Americas, APAC, and EMEA).

The APAC region led the market in 2018, followed by the Americas and EMEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the strong economic growth in developing countries such as China and India.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

• Geographic comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Vendor classification
• Market positioning of vendors

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus 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 consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200115005021/en/

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