The Japanese aftermarket for two-wheeler accessories is predicted to expand by around $1. 3 billion between 2022 and 2032, a 7% CAGR during the forecast period! As you can see Thailand leads this growth with Vietnam coming in second place while Indonesia accounts for most of its volume output–nearly 50%.
NEWARK, Del. , Oct. 10, 2022 /PRNewswire/ — During the forecast period 2022-2032, the two wheeler accessories aftermarket is expected to grow at a value of 8. 6% CAGR, according to Future Market Insights. By the year 2032, the particular global market for 2 wheeler add-ons is expected to rise up to the market valuation of US$ 41. 07 Bn .
It’s difficult to imagine life without motorbikes these days, and nearly every household owns at least one. The increased interest in motorcycles plus motorbikes has surely created a safe haven for the car sector while also benefiting the particular two wheeler accessories aftermarket. Since simply owning a bike isn’t enough; they require flawless administration, including the removal associated with faulty parts, desire for bike frills offers developed.
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The particular semi-urban population’s preference with regard to automobiles and technology has altered as their purchasing power has expanded. As the result, there are now more two-wheelers than ever in rural and semi-urban regions of both developed plus developing countries. In the next few years, the global market regarding two-wheeler components is expected to grow steadily. Throughout the projection period, this will have a direct beneficial influence on the worldwide two-wheeler add-ons aftermarket.
The availability of two-wheeler accessories on different e-commerce platforms, as well as the creation of novel attachments with greater durability, are projected to boost market sales. These websites offer a diverse selection of products, allowing consumers to compare and select the best bike components and components. Such breakthroughs are anticipated to occur more than the forecast period.
India plus China are the top two significant lucrative regions associated with this market. India is a significant market intended for two-wheelers. TVS Motors, Yamaha, and Hero Motocorp are usually among the biggest motorcycle manufacturers in Indian . As a result, the country’s market will be expanding faster. OEMs are working upon extending their two-wheeler accessory product line. Electric two-wheeler sales are usually expanding in China as a more environmentally friendly mode of transportation. Rising urbanization, low affordability, and a rising population may all contribute to the growth of the aftermarket to get two-wheeler accessories.
Key Takeaways from the Marketplace Study
- In 2022, the global two wheeler accessories aftermarket is estimated to have a global market size of US$ 8 Bn .
- In 2022, the particular protective gear category by product type is expected to occupy a 65% market share.
- By two-wheeler type, the standard motorbike is projected to hold a global marketplace share associated with 36% in 2022.
- By 2032, Of india is expected to account pertaining to more than half of all product sales in the particular Pacific plus South Asia .
- During the time period 2022-2032, the Chinese region is forecasted to develop significantly in a CAGR of 9. 6%.
- Between 2022 and 2032, the Japanese aftermarket meant for two-wheeler accessories is predicted to increase by close to US$1. 3 billion .
“The growing number associated with motorcycle plus cycle riding enthusiasts, together with increased awareness of road safety in various nations throughout the world, is usually likely to boost the market from 2022 to 2032. ” comments a Future Market Information analyst.
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Competitive Landscape
AGV Sports Group, TELEVISIONS Motor Company, Yamaha Motor Company Ltd., Hero Motocorp Ltd., Harley Davidson , Vega Auto Accessories Limited., Studds Add-ons Ltd., OM Steel Industries, Osram Licht AG, Steelbird Hi-Tech India Pvt. Ltd., YF Protector Co. LtdAlpinestars USA Incorporation. and AltRider LLC are some of the prominent companies within this particular market.
- In 2021, Hero Motocorp will establish three new facilities inside India’s Dharuhera, Gurugram, and Haridwar in order to increase production capacity. These factories will focus about serving worldwide business (GB) markets across the world in addition to producing for the Indian domestic marketplace.
- In 2021, Yamaha Motor Company, Honda, Piaggio & C SpA, and KTM AG signed a memorandum of intent to form a partnership to create swappable batteries for motorcycles and light electric vehicles. The mission from the Consortium is to provide standardized technical standards designed for the swappable battery system for L-category vehicles such as motorcycles, mopeds, tricycles, plus quadricycles.
More Valuable Ideas
Future Market Observations , in its new offering, presents an unbiased analysis of the particular global 2 wheeler add-ons aftermarket, presenting historical evaluation from 2017 to 2021 and prediction statistics just for the period of 2022-2032.
Key Segments Covered In The Two Wheeler Accessories Aftermarket Report
2 Wheeler Components Aftermarket Simply by Product:
- Handle Accessories
- Handlebars
- Grips
- Electrical & Electronics
- Lightings
- Horns
- Frames & Fittings
- Crash Protection
- Windshield
- Foot Pegs
- Protective Equipment
- Helmets
- Professional Body Wear
- Bags & Carriage Frames
- Exhaust Accessories
- Seat Covers
- Security Systems
Two Wheeler Accessories Automotive aftermarket By Two wheeler type:
- Standard Motorcycle
- Cruiser Motorbike
- Sports Motorcycle
- Standard Scooter
- Maxi Mobility scooter
- Mopeds
2 Wheeler Add-ons Aftermarket By Sales Channel:
- Online Two Wheeler Components Aftermarket
- Authorized Outlets 2 Wheeler Accessories Aftermarket
- Independent Outlets Two Wheeler Add-ons Aftermarket
2 Wheeler Components Aftermarket Simply by Region:
- North America Two Wheeler Accessories Aftermarket
- Latin America Two Wheeler Accessories Automotive aftermarket
- Europe Two Wheeler Accessories Aftermarket
- South Asian countries and Pacific Two Wheeler Accessories Aftermarket replacement
- East Asia Two Wheeler Accessories Aftermarket
- Middle East & Africa 2 Wheeler Add-ons Aftermarket
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Table of Content
1 . Executive Summary
one 1. Global Market Outlook
1. 2 . Demand Side Trends
1 ) 3. Supply Side Trends
1. 4. Analysis and Recommendations
2. Market Overview
2. 1 . Market Coverage / Taxonomy
2. second . Market Definition / Scope / Limitations
a few. Key Marketplace Trends
3. one Key Styles Impacting the Market
3. 2 . Product Innovation / Development Trends
4. Important Success Factors
four. 1. Product Adoption / Usage Analysis
4. second . Product USPs / Features
4. three or more. Strategic Promotional Strategies
5. Worldwide Two Wheeler Accessories Aftermarket replacement Demand Evaluation 2017 – 2021 plus Forecast, 2022 – 2032
5. 1. Historical Market Volume (‘000 Units) Analysis, 2017 – 2021
5. 2 . Current and Future Market Volume (‘000 Units) Projections, 2022 – 2032
five. 3. Y-o-Y Growth Trend Analysis
6. Global Two Wheeler Accessories Auto aftermarket – Pricing Analysis
6. 1 ) Regional Prices Analysis By Product Type
6. second . Global Average Pricing Analysis Benchmark
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About the Automotive at Long term Market Insights
The automotive team from Future Marketplace Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results in order to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly within 50+ nations for more than a decade. The team provides a brief analysis associated with key trends including competitive landscape, profit margin, plus research development efforts.
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Two Wheeler Backrest Market Growth : adds additional comfort, luxury and styles to the vehicle. Act associated with personalizing a motorcycle in order to add something extra from the standard cost and urge to make the automobile stand out individually from the ordinary is resulting in increased number of modification instances.
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