LONDON, May 23, 2017 (BUSINESS WIRE) — Technavio market research analysts forecast the global two-wheeler upside down forks market to grow at a CAGR of more than 6% during the forecast period, according to their latest report.
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The market study covers the present scenario and growth prospects of the global two-wheeler upside down forks market for 2017-2021. The report also lists entry-level, mid-size, and full size , as the three main segments, of which the full-size segment accounted for more than 61% of the market share in 2016.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global two-wheeler upside down forks market:
Low penetration of premium motorcycles in emerging countries
Two-wheeler markets in emerging countries are highly cost sensitive. Two-wheelers are mainly seen as an economical mode of convenient personal mobility. Hence, high-performance premium motorcycles with heavy price tags always had lesser demand compared to the cheap commuter-oriented motorcycles and scooters. However, premium motorcycle manufacturers have started to reorganize their two-wheeler production and manufacture high-performance vehicles with an economical price tag.
“Premium two-wheeler manufacturers like Harley-Davidson, BMW, and Aprillia have successfully penetrated the two-wheeler markets in emerging countries with their low-cost high-performance two-wheelers,” says Praveen Kumar, a lead research analyst at Technavio for automotive components research.
The improved employment opportunities in APAC followed by the rising spending power of the middle-class people are expected to drive the sales of premium motorcycles in emerging countries. The penetration of upside-down forks is high in the premium motorcycle segment as such motorcycles are meant to be ridden at high speeds. Hence, they require upside-down forks for increasing the ride stability.
Rise in the levels of road congestions following increased urbanization
Many metropolitan cities in the world experience heavy traffic congestions during rush hours. Motorcycles are compact and can be used to move through tough traffic conditions. Moreover, their comparatively lightweight construction and fuel efficiency make them more economical and convenient than availing public transportation systems. Hence, the progressing levels of road congestions are expected to increase the sales of motorcycles.
The progressing rates of urbanization is encouraging the people from rural areas to migrate to urban and semi-urban areas in search of better employment and educational opportunities. These people will require effective means of transportation within the city for their day-to-day affairs, and they are likely to choose, two-wheelers for commute-oriented purposes.
“The increasing trend of entry-level motorcycles being upgraded with upside-down fork systems for offering stability over different road terrains is expected to drive the market for two-wheeler upside-down forks in the commuter motorcycle segment,” says Praveen.
Increased convenience and ride handling capabilities
Upside-down forks were initially used in off-road motorcycles for increasing their ride quality over difficult terrains. Later they were adopted in road two-wheelers to increase their handling capabilities and performance.
Upside-down forks offer better maneuverability to the rider under high speed applications. It further increases the ride quality by effectively distributing the weight to the front part of the motorcycle. Hence, the makers of premium high-performance two-wheelers are increasingly using upside-down forks for the front suspension of their vehicles. Moreover, the positioning of the heavy slider, which has more diameter for letting the slider in, toward the front part of the motorcycle adds strength to the vehicle’s front portion and allows the rider to make quick turns.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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