Global Two-wheeler Starter Motor Market 2019-2023
About this market
Improvement in performance of low-displacement two-wheelers to drive growth in the market. Two-wheeler manufacturers are developing and launching new and powerful models of scooters and motorcycles to penetrate and utilize the higher purchasing power of the population in the emerging markets in APAC. They will be performing certain changes in the internal components like starter motors to improve performance. Technavio’s analysts have predicted that the two-wheeler starter motor market will register a CAGR of almost 8% by 2023.
Increasing popularity of two-wheeler events and activities
The increasing popularity of motorcycles events and two-wheeler touring activities is expected to drive the sales and production of two-wheelers in mature two-wheeler markets like Europe. Exhibitions are used as an effective way by two-wheeler manufacturers to showcase new vehicle models or certain technological innovations, which may incite future purchases.
Growth of the motorcycle and scooter rental market
The increasing launch of rental services for motorcycles and scooters poses a significant challenge to the sales of two-wheelers as potential buyers do not need to invest significant funding in purchasing a two-wheeler, but they can rather spend a fraction of the cost to hire a scooter or a motorcycle for fulfilling their need for commute. Two-wheelers are mainly used for commuting over short distances, which can be fulfilled by renting a vehicle.
For the detailed list of factors that will drive and challenge the growth of the two-wheeler starter motor market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Varroc Group and Zhejiang Haiwei Electric Appliances the competitive environment is quite intense. Factors such as the increasing popularity of two-wheeler events and activities and the improvement in performance of low-displacement two-wheelers, will provide considerable growth opportunities to two-wheeler starter motor manufactures. BRISE Starter Motors & Alternators, Lucas TVS, Mitsuba, Varroc Group, and Zhejiang Haiwei Electric Appliances are some of the major companies covered in this report.
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