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