LONDON–The latest market research report by Technavio on the global motorcycle jacket turn light indicator (TLI) market predicts a CAGR of around 16% during the period 2017-2021.
The report segments the global motorcycle jacket TLI market by type (strap-on type motorcycle jacket TLI and motorcycle jacket TLI) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global motorcycle jacket TLI market, according to Technavio automotive researchers:
- Stringent safety regulations: a major market driver
- In 2016, Strap-on type motorcycle jacket TLI accounted for the largest share of the market
- In 2016, EMEA dominated the market accounting for a share of close to 67%
- Lumenus, Ryde Bright, Visijax, and CladLight are the leading players in the market
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Stringent safety regulations: a major market driver
Safety regulations are expected to become stringent in developed and economically strong nations. This is one of the major factors driving the global motorcycle jacket turn light indicator market. The safety of motorcycle commuters is of a rising concern across many nations, including Germany, the UK, France, the US, and Australia. These countries have been proactive about the safety regulations for the motorcycle riding as the sales of motorcycles in these regions basically comes from the performance category. Extensive targets have been set up by authorities for zero fatalities on the road for the motorcycle commuters by 2025.
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EMEA: largest motorcycle jacket turn light indicator market
Technavio researchers anticipate high growth for the global motorcycle jacket turn light indicator market in EMEA due to government regulations and higher disposable incomes in the region. The manufacturers of TLI and indicator lighting systems are placed well in the region.
According to Keerthi Balu, a lead analyst at Technavio for automotive electronics research, “EMEA is the major consumer in the global motorcycle jacket TLI market. Apart from motorcycle riding, wearable TLI system has various applications, such as bicycle riding at night, jogging, on road construction work, and maintenance work. Jacket TLI or the TLI strap increase the visibility of the rider by up to 46% during night time, due to which the number of accidents occurring at night due to poor motorcycle rider visibility, have reduced significantly.”
Competitive vendor landscape
The market is currently driven by innovation as the technology is still in the R&D stage. The vendors available and selling such products face the issue of standards and validations for their product. The product is unregulated and is available on the open market. The vendors that provide products in these domains will find it most easy and profitable to expand their product portfolio with TLI jacket. The industry is expected to grow at an exponential rate during the forecast period due to the strong global focus on motorcycle rider safety by enhancing their visibility. Lumenus, Ryde Bright, Visijax, and CladLight are the key vendors in the global motorcycle jacket turn light indicator market.
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