India Two Wheeler Brake System Market to Grow at 17% CAGR till 2024
Rising
two wheeler production aimed at catering growing demand for two-wheelers due to
their
higher fuel efficiency and increasing traffic congestion, especially by four
wheelers, to drive India two wheeler
brake system market through 2024
According
to TechSci Research report, “India
Two Wheeler Brake System Market By Vehicle Type, By Capacity, By Brake
Type, By Demand Category, Competition, Forecast & Opportunities, 2014 –
2024”, two wheeler brake system market in India is projected to grow
at a CAGR of more than 17% during 2019-2024, backed by rising production of two wheelers in the
country. Moreover, growing two wheeler sales, owing to their easy maneuverability
and lower carbon emissions, is expected to fuel the market. Rising demand for two
wheeler taxis, growing traffic congestion, and poor road infrastructure in tier
2 and tier 3 cities are boosting the demand for two wheelers, consequently positively
influencing the country’s two wheeler brake system market during the forecast
period.
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Two Wheeler Brake System Market"
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With a two-third share in India
two wheeler brake system market, motorcycle segment dominated the market in
2018 and is expected to maintain its market dominance in coming years, owing to
infrastructure development
and better road connectivity in tier-2 cities. On account of growing
per capita income and increasing inclination of consumers towards small and
easy maneuverable automobiles, two
wheeler brake system market is expected to register growth during the forecast
period. Prominent brake system manufacturers such as Rico, Endurance, ASK, Brembo
and Nissin are continuously enhancing and expanding their product offerings to
boost their customer base. On the other hand, many Chinese and small-scale two wheeler
brake system manufacturers are intensifying their business operations by enhancing
the quality of their products by investing in research & development and
expanding their portfolio. Several companies are also investing intensively in
order to provide their customers with more affordable and premium two wheeler
braking systems.
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“Growing presence of various companies such as Endurance,
ASK, Brembo, Rico and Nissin coupled with their continued research & development
to manufacture premium and more sophisticated two wheeler braking systems is
expected to intensify the two wheeler brake system market in India. Moreover, rising
average selling price of two wheeler brake systems and growing sales of two wheelers
are anticipated to boost revenue of India two wheeler brake system market
players during the forecast period.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“India Two Wheeler Brake System Market By Vehicle
Type, By Capacity, By Brake Type, By Demand Category, Competition, Forecast
& Opportunities, 2014 – 2024” has analyzed
the potential of two wheeler
brake system market in India and provides statistics and information on
market size, shares and trends. The report will suffice in providing the
intending clients with cutting-edge market intelligence and help them in taking
sound investment decisions. Besides, the report also identifies and analyses
emerging trends along with essential drivers and key challenges faced by the two
wheeler brake system market across the country.
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