Two-wheeler Stability Control Market Introduction
The two-wheeler stability control system prevents the wheel of a two-wheeler from slipping sideways, while turning or cornering. The stability control system is also referred to as anti-skid control system. This technology has major application in four-wheelers too. However, the market for stability control for two-wheelers is expanding at a rapid pace, owing to a rise in the accident rates of two-wheelers and enactment of stringent standards on two wheeler manufacturers to equip their vehicles with advanced safety systems such as stability control. Two wheeler stability control is a technology that prevents a two-wheeler from skidding sideways and helps stabilize the two-wheeler while turning or cornering.
Two-wheeler Stability Control Market – Competitive Landscape
Robert Bosch GmbH first developed the stability control system for two wheelers. Since then, various others players have entered in the market owing to significant demand for the system. Other potential players operating in the two-wheeler stability control market are Continental AG and DENSO CORPORATION.
Robert Bosch GmbH
Robert Bosch GmbH has developed two-wheeler stability control system that helps the biker, during accelerating and braking. The two-wheeler stability control system offers support by monitoring an all-inclusive key data of two-wheeler such as acceleration, lean angle, and torque. In 2013, two-wheeler stability control system first installed in two KTM brand models by Robert Bosch GmbH.
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Two-wheeler Stability Control Market Dynamics
Rise in road fatalities and adoption of the system
According to the Insurance Institute for Highway Safety and U.S. National Highway Traffic Safety Administration (NHTSA), in the last decade, one-third of lethal accidents could be prevented by the usage of the stability control technology. In the U. S., stability control for new cars has been mandatory since 2012. Prior to the U. S., in 2011, Canada had implemented some stringent norms to curb road fatalities, which mandated all new vehicles produced or sold in Canada to have stability control as a basic unit. Following the action in two major countries in North America, the European Union has adopted the same regulation for members of European Union since 2014. Major steps have been taken for mandating stability control system for the two wheelers, as stability control is compulsory for four-wheel vehicles in several countries across the world.
Increase in safety standards and rising concern towards vehicle safety
Safety systems and advanced driver assistance systems are presently being installed with primary components such as cameras and sensors. These safety systems examine road conditions, alert drivers about possible risks, and thus help avert accidents. There has been an increase in users in developed countries who are choosing advanced safety systems, such as adaptive cruise control and stability control, as the preferred advanced driver assistance system solution for their two wheelers. In developed countries, consumers can opt for two wheelers incorporated with advanced technology, as spending power of consumers in those countries is considerably high.
Rising demand for the motorcycles
Preference for motorcycles among consumers is higher, as they are more fuel-efficient, powerful, and can be driven on varied road conditions. Consequently, the motorcycle segment held a notable share of the two-wheeler stability control market during the forecast period. And with rising demand of the market is likely to propel the two-wheeler stability control market.
Introduction of the more advanced technology via conventional system
The electronic stability control segment is likely to lead the market during the forecast period, owing to higher overall effectiveness and high preference for safety. The additional cost of components of the electronic stability control is likely to hamper the market in some regions; however, the segment is likely to expand at a rapid pace during the forecast period owing to its multiple advantages.
Developing and undeveloped economies likely to hamper the two-wheeler stability control market
The market in India, Brazil, and ASEAN countries and underdeveloped countries in Africa is likely to expand at a sluggish pace, as consumers in these countries still prefer the cost-effective products ignoring other aspects such as safety systems. This is primarily due to the lower purchasing power parity and mindset of consumers in those countries.
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Two-wheeler Stability Control Market Segmentation
Based on type, two-wheeler stability control market is segmented as:
- Electronic Stability Control System
- Conventional Stability Control System
Based on vehicle type, two-wheeler stability control market is segmented as:
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