Global Motorcycle Oxygen Sensor Market 2017-2021
About Motorcycle Oxygen Sensor
The auto industry is increasingly being driven by changing consumer needs that pertain to the increasing purchasing power in the economy. Automakers are predisposed to develop different categories of two-wheelers that cater to the needs of a diverse market. Progressive growth of technology has driven OEMs to equip two-wheelers with high-performance engines with sophisticated controls, sensors, and electronic control units (ECUs) for optimizing performance. Modern two-wheelers are equipped with sensors that relay information regarding the output to the ECU. The ECU acts like the brain of the system and optimizes performance accordingly.
Technavio’s analysts forecast the global motorcycle oxygen sensor market to grow at a CAGR of 14.01% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global motorcycle oxygen sensor market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Motorcycle Oxygen Sensor Market 2017-2021
Technavio recognizes the following companies as the key players in the global motorcycle oxygen sensor market: Delphi, DENSO and Robert Bosch.
Other Prominent Vendors in the market are: HYUNDAI KEFICO, NGK Spark Plugs, Pucheng Sensors and United Automotive Electronic Systems.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rising penetration of fuel injected low powered motorcycles in emerging countries. Emerging countries are dominated by commuter motorcycles that are not equipped with fuel injection systems. Fuel injection systems add to the overall cost of the motorcycles and make them less attractive to the cost-sensitive market of emerging countries.”
According to the report, one driver in the market is rising levels of road congestions following increased urbanization. Road congestion is a major factor hampering the convenience of commuting on the road. Many metropolitan cities in the world experience excess traffic during rush hours, forcing a high load on the city's public transportation systems and heavy traffic on the roadways due to the inflow of a large number of passenger cars. Motorcycles are compact and can be used to negotiate tough traffic conditions. In addition, the comparatively lightweight construction and fuel efficiency make the two-wheelers more economical and convenient than public transportation systems. Hence, progressing levels of road congestions will result in increasing the sales of motorcycles.
Further, the report states that one challenge in the market is rising popularity and subsequent sales of electric two-wheelers. Rising levels of pollution from vehicles using internal combustion engines and fluctuating fuel prices have induced government bodies to push toward green modes of transportation, promoting sales of electric vehicles. Increasing dependence of nations on petroleum-based fuels result in a high cost to the government bodies for importing the needed fuel amounts and meeting demand. For instance, the Indian government is planning to limit the import of petroleum-based fuels and focus on developing alternative fuels like bio-compressed natural gas, methanol, and ethanol for meeting the current demand. The growing dependency on petroleum-based fuels resulted in the import of crude oil worth about $96.52 billion in India in 2015.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit-https://www.technavio.com/report/global-automotive-electronics-global-motorcycle-oxygen-sensor-market-2017-2021
Delphi, DENSO, Robert Bosch, HYUNDAI KEFICO, NGK Spark Plugs, Pucheng Sensors and United Automotive Electronic Systems.
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