Global Self-Stabilizing Vehicles Market to witness a CAGR of 6.7% during 2018-2024

Industry : Press Releases Date : August 7th, 2018
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Global Self-Stabilizing Vehicles Market

The global self-stabilizing vehicles market is expected to witness a CAGR of 6.7% from 2018 to 2024. Demand for better stability in autonomous and non-autonomous two wheelers is expected to propel the growth of the market over the forecast period. Moreover, Increasing demand for this technology due to growing incidences of accidents is likely to give impetus to the market from 2018-2024.

Self-stabilizing vehicles employ the use of a balance system linked to a steering & propulsion system. This system effectively controls the lean angle of a two wheeler to prevent it from falling over. Moreover, these vehicles can also be fully-enclosed in order to protect the rider. Self-stabilizing technology & features are also being incorporated in electric vehicles by major companies.

Control Moment Gyroscope (CMG) Technology: High potential market for self-stabilizing market

Control moment gyroscope technology segment is expected to generate the highest revenue over the forecast period. Self-stabilizing bikes use advanced gyro technology to control the tilt angle of a two wheeler, the growth of self-stabilizing technology in bikes is likely to augment the market share of control moment gyroscope (CMG) during 2018-2024. However, major companies may develop or opt for a proprietary technology alternative to gyroscope technology.

Self-stabilizing vehicles market – Regional insight

North America accounted for the largest share of the global market in 2017 and the trend is likely to continue over the forecast period. This can be attributed to an existing market for segways, and self-balancing bicycles in this region. Moreover, the launch of self-stabilizing motorbikes in this region is expected to further augment the growth of the market during 2018 to 2024. Asia-Pacific is expected to experience a significant CAGR over the forecast period, owing to huge automotive industry in the region.

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Key findings from the report:

  • The global self-stabilizing vehicles market is likely to experience a CAGR of 6.7% from 2018-2024
  • The motorbike segment is expected to experience the fastest CAGR over the forecast period
  • The control moment gyroscope (CMG) segment accounted for the largest share of the revenue of the global self-stabilizing vehicle market in 2017
  • North America held the largest share of the industry in 2017, and is expected to register a significant CAGR over the forecast period
  • Some of the key companies operating in the market include Honda Motor Co., Ltd.; Lit Motors; BMW AG; San Diego Tech Company Gyrobike; Segway; LittleBig Bikes; Strider Sports International, Inc.; Lingyun Intelligent Technology Co Ltd.; Toyota Motor Corporation; and Airwheel Technology Holding Co., Ltd., among others

The report segments self-stabilizing vehicles market on the basis of technology, vehicle type, propulsion, body in white(BIW), and region.

Global Self-Stabilizing Market, By Technology

  • Control Moment Gyroscope (CMG)
  • Mass Balancing
  • Steering Control
  • Reaction Wheel 

Global Self-Stabilizing Market, By Vehicle Type

  • Motorbike
  • Bicycle
  • Scooters 

Global Self-Stabilizing Market, By Propulsion

  • Electric
  • Non-Electric 

Global Self-Stabilizing Market, By Body in White (BIW)

  • Fully-enclosed
  • Standard 

Global Self-Stabilizing Market, By Region                                                                                                                                               

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Middle East and Africa (MEA)
  • Central and South America

Global Self-Stabilizing Vehicles Market to witness a CAGR of 6.7% during 2018-2024