Two Wheeler Switches Market
Two Wheeler Switches Market Analysis by Combinational/light Switch Modules, Ignitions, Brake Lights, and Reverse Lights for Motorcycles, Scooters, and Electric Bikes from 2022 to 2032
Analysis of Two Wheeler Switches Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Two Wheeler Switches Market Outlook (2022 -2032)
The fact that two-wheelers are more affordable than other vehicle kinds is the primary factor behind their rising popularity. Customers with lower income levels are drawn to the financing option because of how simple it is, making the dream of owning a car more attainable. Cost-effectiveness, in addition to affordability, is another element influencing the surge in two-wheeler purchases.
With rising fuel prices, bikes will continue to be cheap for Indian families. Also, compared to passenger automobiles, the cost of upkeep for bikes is far lower, and they also have higher gas mileage. Even motorcycles are excluded from toll taxes, which increases the cost-effectiveness of the system.
The driving motorcycle demand is a prime factor of growth in the switch market. The two-wheelers are occasionally upgraded as a result of technological improvement in order to outperform the competition. The anti-braking system technology, which was released in India in 2019, prevents cars from skidding when they suddenly apply the brakes. Moreover, it shortens the stopping distance and enhances steering control when the car is braking.
The slippery clutch technology preserves the motorbike gearbox and prevents your car from shaking or losing traction when you slow down. A large number of clients are also drawn in by the connectivity feature. The motorcycles are made smarter with features like smartphone charging ports, Bluetooth, and navigation.
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What are the drivers of demand in this market?
Increasing vehicle parc of commuter bikes and rising traffic congestion increases the demand for two-wheelers which in turn is expected to accelerate the growth of bike switches arcade. Rising demand for high mileage bikes owing to growing traffic congestion across the globe, mainly in metropolitan cities such as Tokyo, London, and New Delhi, etc., is an important factor that can propel the demand for new bikes which results in the growth of the market.
The government of many countries across the globe is introducing emission norms to reduce pollution and global warming which in turn stringent emission regulation for motorcycles that play a significant role in the growth of electric bikes and directly affect the market over the forecast period.
In urban areas, motorcycles are also used for delivery purposes, and owing to high traffic congestion, these businesses propel the demand for fuel-efficient bikes, which boosted the sale of bike switches. Furthermore, the advancement of technologies results in the electrification of mechanical components which leads to more electronic components & systems in two-wheelers such as seat opening switches. This factor is expected to drive the growth of the market in near future.
The main factors driving the global market are the requirement for high mileage due to traffic congestion and an increase in sales in many Asian countries, including China and India.
the electrical circuits or electro-mechanical components that comprise two-wheeler switches. These switches may operate the engine ignition, indicator, and horn on a two-illumination wheeler.
Region Wise Insights
Two wheeler switches market is correlated with the motorcycles market on a global level. Among all regions, the Asia Pacific region is dominating the motorcycles market, thus the region is anticipated to hold a prominent share in the market, owing to the high demand for motorcycles from countries such as India China, and ASEAN countries.
The revenue in the motorcycle industry is anticipated to cross a valuation of USD 88.24 billion in 2023. This size is estimated with consideration of an annual rate of 7.24% in the next four years 2023 to 2027. The industry in the Asian region is expected to hold a major share of USD 116.70 billion by end of 2027.
The rising women’s workforce participation and per-person disposable income are major drivers of demand for bikes in these countries. About 8 out of 10 major markets across the globe for these switches belong to the Asian region. It’s also expected that in the upcoming period, most of the revenue will be generated in India and China.
The prior two countries are the world’s largest manufacturers of motorcycles, offering plenty of opportunities for the progressive growth of the market in the forecast period. Eastern Europe and Latin America have also observed large populations of motorcycle users and stringent emission norms for motorcycles are the reason for the significant growth of the said market.
In contrast customers in developed regions such as Western Europe and North America prefer passenger cars over motorcycles owing to high disposable incomes which in turn, impede the growth of the market in the upcoming years. The same also holds true for the GCC countries, where the motorcycle market is largely overshadowed by the passenger car market.
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Segment wise Insights
Based on the product category, the market includes ignition switches, combinational/light switch modules, brake light switches, and reverse light switches. By 2027, the combinational/light switch module fragment, the largest segment, will rule the application market.
When changing lanes, the driver and other drivers of moving cars can avoid collisions thanks to the indicator system switches that come with light switches. As a result, an increase in the adoption of combinational/light switch modules for safety features is what is driving the segment's growth.
The parts for the ignition switches and brake light switches could expand quickly. This might be the case because the safety features heavily rely on these switches. Examples of some of the market participants identified in the Global two wheeler switches market include:
- DELTA INDIA ELECTRONICS PVT. LTD.
- MINDA INDUSTRIES LIMITED
- SONEN ENGINEERING SOLUTIONS
- Yamaha Motor Co. Ltd.
- BALAJI AUTOMOBILES
- Bajaj Auto ltd.
- Advanced Technocracy Inc.
- TVS
- Guangzhou Kadi Engine Parts Co., Ltd.
- Huangshan Benma Group Co., Ltd.
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Segmentation
-
By Vehicle Type :
- Motorcycles
- Standard
- Cruiser
- Sports
- Dirt
- Scooters
- Standard
- Maxi
- Electric
- Motorcycles
-
By Product Type :
- Combinational/light switch module
- Ignition switches
- Brake light switches
- Reverse light switches
-
By Sales Channels :
- Original Equipment Manufacturers (OEMs)
- Aftermarket
-
By Regions :
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Japan
- Middle East and Africa
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Vehicle Type 6.2. Product Type 6.3. Sales Channels 7. Global Market Analysis and Forecast, By Vehicle Type 7.1. Motorcycles 7.2. Scooters 7.3. Electric 8. Global Market Analysis and Forecast, By Product Type 8.1. Combinational/light switch module 8.2. Ignition switches 8.3. Brake light switches 8.4. Reverse light switches 9. Global Market Analysis and Forecast, By Sales Channels 9.1. Original Equipment Manufacturers (OEMs) 9.2. Aftermarket 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. Asia Pacific 10.6. East Asia 10.7. MEA 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 14. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 15. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 16. East Asia Sales Analysis and Forecast, by Key Segments and Countries 17. MEA Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Vehicle Type, Product Type, and Sales Channels for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. DELTA INDIA ELECTRONICS PVT. LTD. 20.2. MINDA INDUSTRIES LIMITED 20.3. SONEN ENGINEERING SOLUTIONS 20.4. Yamaha Motor Co. Ltd. 20.5. BALAJI AUTOMOBILES 20.6. Bajaj Auto ltd. 20.7. Advanced Technocracy Inc. 20.8. TVS 20.9. Guangzhou Kadi Engine Parts Co., Ltd. 20.10. Huangshan Benma Group Co., Ltd.
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List Of Table
Table 01: Global Market US$ Bn Forecast by Region
Table 02: Global Market US$ Bn Forecast by Vehicle Type
Table 03: Global Market US$ Bn Forecast by Product Type
Table 04: Global Market US$ Bn Forecast by Sales Channels
Table 05: North America Market US$ Bn Forecast by Country
Table 06: North America Market US$ Bn Forecast by Vehicle Type
Table 07: North America Market US$ Bn Forecast by Product Type
Table 08: North America Market US$ Bn Forecast by Sales Channels
Table 09: Latin America Market US$ Bn Forecast by Country
Table 10: Latin America Market US$ Bn Forecast by Vehicle Type
Table 11: Latin America Market US$ Bn Forecast by Product Type
Table 12: Latin America Market US$ Bn Forecast by Sales Channels
Table 13: Western Europe Market US$ Bn Forecast by Country
Table 14: Western Europe Market US$ Bn Forecast by Vehicle Type
Table 15: Western Europe Market US$ Bn Forecast by Product Type
Table 16: Western Europe Market US$ Bn Forecast by Sales Channels
Table 17: Eastern Europe Market US$ Bn Forecast by Country
Table 18: Eastern Europe Market US$ Bn Forecast by Vehicle Type
Table 19: Eastern Europe Market US$ Bn Forecast by Product Type
Table 20: Eastern Europe Market US$ Bn Forecast by Sales Channels
Table 21: Asia Pacific Market US$ Bn Forecast by Country
Table 22: Asia Pacific Market US$ Bn Forecast by Vehicle Type
Table 23: Asia Pacific Market US$ Bn Forecast by Product Type
Table 24: Asia Pacific Market US$ Bn Forecast by Sales Channels
Table 25: East Asia Market US$ Bn Forecast by Country
Table 26: East Asia Market US$ Bn Forecast by Vehicle Type
Table 27: East Asia Market US$ Bn Forecast by Product Type
Table 28: East Asia Market US$ Bn Forecast by Sales Channels
Table 29: MEA Market US$ Bn Forecast by Country
Table 30: MEA Market US$ Bn Forecast by Vehicle Type
Table 31: MEA Market US$ Bn Forecast by Product Type
Table 32: MEA Market US$ Bn Forecast by Sales Channels
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List Of Figures
Figure 01: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Vehicle Type
Figure 02: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 03: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channels
Figure 04: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Region
Figure 05: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Vehicle Type
Figure 06: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 07: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channels
Figure 08: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 09: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Vehicle Type
Figure 10: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channels
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 13: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Vehicle Type
Figure 14: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 15: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channels
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 17: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Vehicle Type
Figure 18: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 19: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channels
Figure 20: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 21: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Vehicle Type
Figure 22: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 23: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channels
Figure 24: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 25: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Vehicle Type
Figure 26: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 27: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channels
Figure 28: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 29: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Vehicle Type
Figure 30: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 31: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sales Channels
Figure 32: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
How much Growth will be achieved by the Market?
The market worth is likely to grow at 5.8% over the forecast years.
Why the market is projected to grow?
The rising traffic congestion in the cities is driving the market growth.
Where are the Most Opportunities for the Industry Players?
Manufacturers are likely to gain a majority of opportunities in the Asian Region.
Which countries in the Asian region are likely to hold a major share?
India is expected to owe major share in the forecast period.
Two Wheeler Switches Market