LONDON–(BUSINESS WIRE)–Technavio market research analysts forecast the global motorcycle twin cylinder engine market to grow at a CAGR of close to 17% during the forecast period, according to their latest report.
The report further segments the global motorcycle twin cylinder engine market by motorcycle engine design type (inline-twin cylinder, v-twin cylinder, and flat-twin cylinder) and by geography (the Americas, APAC, and EMEA).
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global motorcycle twin cylinder engine market:
- Rise in demand for mid-segment and premium bikes
- Easy financing and increasing disposable income
- Rising demand for air-cooled V-twin engines
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Rise in demand for mid-segment and premium bikes
High-powered motorcycles have the largest market share in Europe and the Americas. These motorcycles use twin cylinder engines higher than 200cc. Generally, the sales of low-powered motorcycles are high in emerging markets such as India, China, and Southeast Asia. High-powered motorcycles account only for 2% of the global sales in these developing countries. Therefore, there is scope for motorcycle manufacturers to expand their mid-segment and premium segment motorcycles in these emerging countries.
According to Ganesh Subramanian, a lead analyst at Technavio for automotive manufacturing research, “Factors such as urban mobility and electric mobility in these countries are prompting this premium brand to expand its segment. There was sustainable growth in the 200cc-500cc motorcycle segment in developing countries such as India and China. The increased sales in the mid-segment and premium segment can be accredited to the increasing demand among young entrepreneurs, affluent college goers and swelling growth of affluent class people.”
Easy financing and increasing disposable income
The Americas is a thriving market for the premium motorcycle manufacturers. The accessibility of these motorcycles in the Americas has been made easy with attractive financing options. Consequently, the market for bikes with engine capacity above 500cc is increasing. There are certain factors that are contributing to the growth of this premium segment. The primary factor are the financing options provided by several banks to enhance the accessibility of premium brands such as Triumph Motorcycles, Ducati Motor Holdings, and Harley-Davidson.
Big bike manufacturers are expanding their market in tier-1 and tier-2 cities. This has allowed them to reach out to the maximum number of customers. British superbike manufacturer Triumph Motorcycles plans to get closer to the customer by introducing small store concept in the interiors of the country. They are working on improving their dealership network and thereby reaching out to the maximum number of customers.
Rising demand for air-cooled V-twin engines
The air-cooled V-twin engine is well known for its numerous features. Its technology and design have changed rapidly with the change in market dynamics. This vulnerable V-twin engine is widely known for its advanced technology and enhanced benefits. Harley-Davidson has been using these air-cooled V-twin engines for many years and has stood out significantly in the market. The signature sound and the immediate low-end torque are characteristic of the Harley-Davidson motorcycle. This air-cooled engine utilizes electronic sequential port fuel injection instead of carburetors.
“The demand for V-twin engines has increased as it fulfills the requirements of strict exhaust emissions. Besides, the increased demand for the engine has increased the overall market share of Harley-Davidson that primarily uses this air-cooled twin engine. The efficiency is high because of low frictional power losses. Moreover, it gives high power for low and medium range of speeds,” says Ganesh.
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