Increased Cycling Events to Propel the Sales in Two Wheeler Accessories Aftermarket, over 60% of The Share to be Acquired by The Protective Gear Category, Says Future Market Insights, Inc.

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Oct 10, 2022, 20:30 ET

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 expected to rise up to a 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 and motorbikes has surely created a 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 semi-urban population's preference for automobiles and technology has altered as their purchasing power has expanded. As a result, there are now more two-wheelers than ever in rural and semi-urban regions of both developed and developing countries. In the next few years, the global market for two-wheeler accessories is predicted to grow steadily. During the projection period, this will have a direct beneficial influence on the worldwide two-wheeler accessories 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 parts and accessories. Such breakthroughs are expected to occur over the forecast period.

India and China are the top two significant lucrative regions of this market. India is a significant market for two-wheelers. TVS Motors, Yamaha, and Hero Motocorp are among the biggest motorcycle manufacturers in India. As a result, the country's market is expanding faster. OEMs are working on extending their two-wheeler accessory product line. Electric two-wheeler sales are 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 for two-wheeler accessories.

Key Takeaways from the Market Study

In 2022, the global two wheeler accessories aftermarket is estimated to have a global market size of US$ 8 Bn.
In 2022, the 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 market share of 36% in 2022.
By 2032, India is expected to account for more than half of all sales in the Pacific and South Asia.
During the period 2022-2032, the Chinese region is predicted to develop significantly at a CAGR of 9.6%.
Between 2022 and 2032, the Japanese aftermarket for two-wheeler accessories is predicted to expand by around US$1.3 billion.

"The growing number of motorcycle and cycle riding enthusiasts, together with increased awareness of road safety in various nations throughout the world, is expected to boost the market from 2022 to 2032." comments a Future Market Insights analyst.

Browse Detailed Summary of Research Report with TOC: https://www.futuremarketinsights.com/reports/two-wheeler-accessories-aftermarket

Competitive Landscape

AGV Sports Group, TVS Motor Company, Yamaha Motor Company Ltd., Hero Motocorp Ltd., Harley Davidson, Vega Auto Accessories Ltd., Studds Accessories Ltd., OM Steel Industries, Osram Licht AG, Steelbird Hi-Tech India Pvt. Ltd., YF Protector Co. LtdAlpinestars USA Inc. and AltRider LLC are some of the prominent companies within this market.

In 2021, Hero Motocorp will establish three new facilities in India's Dharuhera, Gurugram, and Haridwar to increase production capacity. These factories will focus on serving global business (GB) markets across the world in addition to producing for the Indian domestic market.
In 2021, Yamaha Motor Company, Honda, Piaggio & C SpA, and KTM AG signed a memorandum of intent to form a partnership to develop swappable batteries for motorcycles and light electric vehicles. The mission of the Consortium is to provide standardized technical standards for the swappable battery system for L-category vehicles such as motorcycles, mopeds, tricycles, and quadricycles.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global two wheeler accessories aftermarket, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

Key Segments Covered In The Two Wheeler Accessories Aftermarket Report

Two Wheeler Accessories Aftermarket By Product:

Handle Accessories

Handlebars
Grips

Electrical & Electronics

Lightings
Horns

Frames & Fittings

Crash Protection
Windshield
Foot Pegs

Protective Gear

Helmets
Professional Body Wear

Bags & Carriage Frames
Exhaust Accessories
Seat Covers
Security Systems

Two Wheeler Accessories Aftermarket By Two wheeler type:

Standard Motorcycle
Cruiser Motorcycle
Sports Motorcycle
Standard Scooter
Maxi Scooter
Mopeds

Two Wheeler Accessories Aftermarket By Sales Channel:

Online Two Wheeler Accessories Aftermarket
Authorized Outlets Two Wheeler Accessories Aftermarket
Independent Outlets Two Wheeler Accessories Aftermarket

Two Wheeler Accessories Aftermarket By Region:

North America Two Wheeler Accessories Aftermarket
Latin America Two Wheeler Accessories Aftermarket
Europe Two Wheeler Accessories Aftermarket
South Asia and Pacific Two Wheeler Accessories Aftermarket
East Asia Two Wheeler Accessories Aftermarket
Middle East & Africa Two Wheeler Accessories Aftermarket

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Table of Content

1. Executive Summary

1.1. 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

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation / Development Trends

4. Key Success Factors

4.1. Product Adoption / Usage Analysis

4.2. Product USPs / Features

4.3. Strategic Promotional Strategies

5. Global Two Wheeler Accessories Aftermarket Demand Analysis 2017 – 2021 and 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

5.3. Y-o-Y Growth Trend Analysis

6. Global Two Wheeler Accessories Aftermarket - Pricing Analysis

6.1. Regional Pricing Analysis By Product Type

6.2. Global Average Pricing Analysis Benchmark

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About the Automotive at Future Market Insights

The automotive team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

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Two Wheeler Chain Sprocket Kit Market Size : is projected to register a CAGR of 12% during the forecast period, up from US$ 4.87 Bn in 2021, to reach a valuation of US$ 17 Bn by 2032.

Two Wheeler Crash Guard Market Share : is a type of accessory utilized to protect the two wheeler body parts and components at the time of drop when it is parked or is in its low speed. Two wheeler crash guard prevents the plastic and fiber body parts and components, engine case at the time of two wheeler crash.

Two Wheeler Backrest Market Growth : adds additional comfort, luxury and styles to the vehicle. Act of personalizing a motorcycle to add something extra from the standard cost and urge to make the vehicle stand out individually from the ordinary is resulting in increased number of modification instances.

ABOUT FUTURE MARKET INSIGHTS, INC.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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SOURCE Future Market Insights, Inc.