Latest News - Motorcycle Instrument Cluster Market: Automotive is expected to lead the End-user segment during 2024-2028

The Motorcycle Instrument Cluster Market is being driven by Economies of scale benefits owing to declining prices of LCD/TFT displays

The Motorcycle Instrument Cluster Market is expected to grow at a CAGR of 4.02% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 270.8 million. In the Motorcycle Instrument Cluster Market, the adoption of 3D graphics interfaces is on the rise due to their ability to offer a more precise and realistic presentation of cluster information. This enhanced visual experience significantly boosts customer satisfaction. Vendors are investing heavily in the development of advanced display technologies, such as multilayer displays, to deliver authentic 3D graphics without the need for glasses or complex eye-tracking systems. The multilayer display technology employs two high-definition digital displays stacked on top of each other to create a sense of depth, thereby setting a new standard for digital instrument clusters in the automotive industry. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Automotive
  • Construction and mining
  • Others
• Type
  • Hybrid
  • Digital
  • Analog
• Vehicle Types
  • Commuter Bikes
  • Sports Bikes
  • Touring Bikes
• Product Feature
  • Speedometer
  • Fuel Gauge
  • Connectivity
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • UK
  • South America
    • Brazil
  • Middle East and Africa
    • UAE

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Economies of scale benefits owing to declining prices of LCD/TFT displays
• Increasing congestion and overcrowding in cities driving motorcycle sales
• Increasing number of electronic components in motorcycles

However, the market also witnesses some limitations, which are as follows:

• Unpopularity of instrument clusters among motorcycle enthusiasts
• Connected technologies causing rider distraction
• Development of fully integrated heads-up-display (HUD) connected helmets

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Market Scope in Motorcycle Instrument Cluster Market Research Report

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Research Analysis Overview

The Motorcycle Instrument Cluster Market is witnessing significant growth due to the increasing demand for high-tech instrument panels from motorcyclists. These advanced instrument clusters come with various displays, personalized features, and connectivity options that enhance the riding experience. Bike makers are incorporating GPS navigation, Bluetooth, and other connected Motorcycle technology into their dashboard-type devices. Digital displays with touchscreens are becoming increasingly popular, providing motorcyclists with real-time information on engine temperature, fuel level, RPM, speed, and battery voltage indicators. Traditional analog gauges for temperature, fuel, and tachometer are still in use but are gradually being replaced by their digital counterparts. Moreover, the market for motorcycle instrument clusters is expected to grow with the increasing motorcycle production volumes. These advanced instrument clusters offer features such as GPS, odometer, and indicators for various warning signals. The integration of these features into motorcycle instrument clusters is expected to provide a more enjoyable and safer riding experience for motorcyclists.

Market Research Overview

The global automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers of these components and equipment. Key growth drivers in the automotive parts and equipment industry include the surge in electronic components utilization in automobiles. The increasing sales of electric vehicles, motorcycles, and passenger cars have significantly boosted the demand for electronic control units (ECUs) and other electrical components over the past decade. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/