Two-wheeler TFT Display Market: Current Analysis and Forecast (2023-2030)
Emphasis on Vehicle Type (Motorcycle and Scooter); Display Size (Less than 6-inches and more than 6-inches); and Region/Country
The Two-Wheeler TFT Display Market was valued at USD 369.54 million in 2022 and is expected to grow at a CAGR of 12.76% during the forecast period (2023-2030) due to the enhanced functionalities and user experience. Two-wheeler manufacturers are increasingly adopting TFT displays to deliver enhanced functionalities and user experience versus traditional LCD instrumentation. Unlike segmented LCD screens, high-resolution TFT displays support continuous motion graphics and custom interface layouts across a single unified display. This enables original equipment manufacturers (OEMs) to consolidate multiple information feeds and deliver an intuitive, visually appealing consolidated dashboard. For instance, in July 2022, Ather Energy, a scooter company has launched Ather 450 X in India with 7” inch TFT water-resistant, dust proof IP65 rating touchscreen display supporting turn-by-turn navigation via smartphone pairing, as well as missed call and new message alerts for maximum convenience on the move. Such rich user experiences are driving consumer demand and flourishing the demand for the TFT display market.
Furthermore, next-generation thin film transistor technology facilitates rugged yet lightweight and energy-efficient displays. At under 500 grams with backlight power consumption of 3W, the 7” TFT panel equipping the Ather 450 X model helps minimize overall vehicle weight and battery load. This will be especially crucial as the two-wheeler market migrates towards electric drive trains over the next decade. For instance, in 2022, according to BloombergNEF, over 30% of two-wheelers sold globally could be electric by 2030 compact displays will be vital for maximizing electric range, while still delivering sophisticated interfaces via ever-improving graphics controllers and software. Therefore, the growing necessities for the enhanced functionalities and user experience propels the demand for two-wheeler TFT display market.
Some of the major players operating in the market include Robert Bosch GmbH, Continental AG, Visteon Corporation, Magneti Marelli , Nippon Seiki Co., Ltd., Pricol Limited, Panasonic Automotive Systems, YAZAKI Corporation, Sharp Corporation, and Qualcomm Technologies, Inc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst vehicle type, the motorcycle segment dominated the market in 2022.”
Based on vehicle type, the market is bifurcated into motorcycles and scooters. The motorcycle segment dominated the market in 2022 and is expected to show the same fashion in the forecast period. The major factors contributing to the growth of the segment followed by the better performance and speed. Manufacturers have responded to this growing demand by introducing technologically advanced models with improved features, aesthetics, and safety measures. Additionally, the increasing popularity of motorcycle touring and adventure riding. Many riders are now seeking long-distance travel and off-road experiences, fueling the demand for high displacement bikes that can handle diverse terrains.
“Amongst display size, the less than 6-inches segment generated the highest revenue in 2022.”
Based on display size, the market is bifurcated into less than 6-inches and more than 6-inches. The less than 6-inch segment holds a significant market share in 2022 and is expected to showcase the same trend in the forecast period due to the growing sales of medium and high displacement bikes that comes with most advance features like traction control, ABS, and ABS cornering with TFT screen for rider safety and security. Moreover, these advanced TFT displays are designed to be highly customizable. The ability to tailor the display according to individual needs adds a sense of exclusivity and uniqueness to the biking experience, attracting enthusiasts who value personalization and cutting-edge technologies.
“Asia Pacific dominated the market for Two-wheeler TFT Display market in 2022.”
The Asia Pacific Two-wheeler TFT Display market dominated the market and is expected to behave in the same fashion in the forecast period. The growth is primarily driven by increasing population and demand for transportation, technological advancements, and growing urbanization. The Asia Pacific region is the home of 60% of the world’s population dominated by China and India. With urban areas becoming densely populated, traffic congestion has become a major issue. Two-wheelers offer a convenient and efficient mode of transportation, especially for short distances, allowing individuals to maneuver through traffic more easily. For instance, in 2023, according to the report by MotorCycles Data, 14.3-million-unit sales in 2022 increase of 9.2% compared to 2021, and during the first nine months 2023 sales have been 11 million (+7.0%) the fastest regional growth in the World.
Two-wheeler TFT Display Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Two-wheeler TFT Display market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Two-wheeler TFT Display Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Two-wheeler TFT Display market were the three major steps undertaken to create and analyze the adoption of two-wheeler TFT display in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global two-wheeler TFT display market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the Two-wheeler TFT Display market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the two-wheeler TFT Display market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report such as vehicle type and display size. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the two-wheeler TFT display market. Further, we conducted factor analysis using dependent and independent variables such as type, and display size of the two-wheeler TFT display market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Two-wheeler TFT Display market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Two-wheeler TFT Display market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Two-wheeler TFT Display market across the major markets domestically.
- All percentage shares, splits, and breakdowns of market segments and sub-segments.
- Key players in the global two-wheeler TFT display market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Two-wheeler TFT Display market, data was split into several segments & sub-segments after studying various parameters and trends in the areas of vehicle type and display size in the global two-wheeler TFT display market.
The main objective of the Two-wheeler TFT Display Market Study
The current & future market trends of the global Two-wheeler TFT Display market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the two-wheeler TFT display market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
- Segments in the study include areas of type and display size.
- Define and analyze the regulatory framework for the two-wheeler TFT display
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the two-wheeler TFT display market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profile of the two-wheeler TFT display market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry
Frequently Asked Questions FAQs
Q1: What is the current market size and growth potential of the global Two-wheeler TFT Display market?
Q2: What are the driving factors for the growth of the global Two-wheeler TFT Display Market?
Q3: Which segment has the largest share of the global Two-wheeler TFT Display market by Vehicle Type?
Q4: What are the emerging technologies and trends in the global Two-wheeler TFT Display market?
Q5: Which region will dominate the global Two-wheeler TFT Display market?
Q6: Who are the key players operating in the global Two-wheeler TFT Display market?
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