DUBAI, United Arab Emirates, March 30, 2022 (GLOBE NEWSWIRE) — As per Future Market Insights evaluation, the Two Wheeler Equipment Aftermarket is projected to be valued at US$ 17.1 Bn in 2021, increasing at a CAGR of 8.6% over the forecast interval of 2021-2031.
Attribute | Particulars | |
Base Yr Worth (2020A) | US$ 15.8 Bn | |
Estimated Yr Worth (2021E) | US$ 17 Bn | |
Projected Yr Worth (2031F) | US$ 38.8 Bn | |
Worth CAGR (2021-2031) | 8.60 | % |
Collective Worth Share: High 3 Nations (2021E) | 53.10 | % |
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Rising site visitors points on roads on account of congestion brought on by four-wheelers or heavy automobiles is anticipated to stay a key issue driving the expansion of the 2 wheeler equipment aftermarket all through the forecast interval.
The continuing disaster brought on by COVID-19 pandemic has brought about extreme influence on the worldwide financial system. It has resulted in full shutdown of the availability chain networks and manufacturing actions. This has subsequently affected the 2 wheeler equipment aftermarket inflicting a major fall available in the market progress.
Nonetheless, two wheeler equipment aftermarket is anticipated to get well sharply because the financial exercise resumes submit the containment of pandemic.
Two wheeler equipment are more and more adopted the world over. Demand is anticipated to stay excessive particularly in North American and European international locations. It has been noticed that there’s Improve in bike touring since previous few years, which has boosted using bikes for leisure and leisure functions. This in flip, will result in excessive demand for 2 wheeler equipment.
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Scope of the Report
Attribute | Particulars |
Forecast Interval | 2021-2031 |
Historic Information Out there for | 2016-2020 |
Market Evaluation | USD Million for Worth and ‘000 Items for Quantity |
Key Areas Lined | North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Center East & Africa |
Key Nations Lined | US, Canada, Mexico, Brazil, Germany, U.Okay., France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, ASEAN, Oceania, GCC Nations, Turkey and South Africa |
Key Segments Lined | Product Sort, Two Wheeler Sort, By Gross sales Channel, And Area |
Key Corporations Profiled |
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Report Protection | Market Forecast, Firm Share Evaluation, Competitors Intelligence, DROT Evaluation, Market Dynamics and Challenges, and Strategic Progress Initiatives |
Customization & Pricing | Out there upon Request |
Key Takeaways of Two Wheeler Equipment Aftermarket Research
On the idea of gross sales channel, impartial shops section is estimated to account for a major share within the world two wheeler equipment aftermarket because the variety of impartial restore retailers are rising globally.
Primarily based on two wheeler kind, commonplace bike section is anticipated to take care of its dominance over the forecast interval.
In line with the evaluation, China will proceed registering excessive progress at 9.6% CAGR, accounting for optimum gross sales in East Asia two wheeler aftermarket.
South Asia & Pacific is anticipated to trip on excessive demand in India, which can account for practically half of gross sales in two wheeler equipment aftermarket by way of 2031.
Gross sales in Japan two wheeler equipment aftermarket will whole US$ 1.3 Bn by 2031.
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Two wheeler equipment aftermarket is anticipated to be an opportunistic market within the forecast interval owing to extend in gross sales of equipment by way of on-line platforms and comfort provided by on-line distribution channels. Producers are specializing in analysis & improvement for superior merchandise with greater sturdiness and improved life cycle to realize aggressive edge. These elements are anticipated to positively affect demand for 2 wheeler equipment through the forecast interval, subsequently pushing gross sales in two wheeler equipment aftermarket.
Aggressive Panorama
The 2 wheeler equipment aftermarket is reasonably fragmented, by which the main gamers account for practically half of the market share. The penetration of small regional gamers makes this market extra aggressive.
Among the key gamers available in the market are TVS Motor Firm , Yamaha Motor Firm Ltd, Hero Motocorp Ltd, Harley- Davidson Inc, Vega Auto Equipment Pvt. Ltd, Studds Equipment Ltd, Om Metal Industries, Osram Licht AG, AGV Sports activities Group, GIVI Srl, Steelbird Hello- Tech India Pvt. Ltd, YF Protector Co. Ltd, Foshan Xinmatuo Bike Elements Industrial Firm, Akrapovic d.d, Aplinestars USA Inc, AltRider LLC, Barracudamoto S.r.l, Cobra USA Inc., EMGO Worldwide Ltd., Jiangmen Pengchang Helmets Ltd., Motorsport Aftermarket Group, RIVCO Merchandise Inc., Rizoma S.r.l, Scorpion Sports activities Inc. amongst others. These gamers have greater shares within the world market, and have longstanding relationships with plenty of distributors, giving them an higher hand amongst their friends.
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Two Wheeler Rental Market
Renting a two wheeler could be thought of as an extension to the automobile rental system, whereby the lessee of two wheelers leases it to prospects on per-day foundation. Renting of such transportation automobiles has grown significantly over time, particularly inside the working-class inhabitants who require two wheelers on a direct foundation.
Two Wheeler Gas Injection System Market
The widespread demand for 2 wheelers now a days has been driving the marketplace for the worldwide two wheeler gas injection system market. Rising air air pollution within the Asian areas and the introduction of the brand new applied sciences resembling digital gas injection system has raised up the alternatives for the worldwide two wheeler gas injection system market.
Two Wheeler Anti-Lock Braking System Market
Comprising a hydraulic management unit, grasp cylinder meeting, energy booster, and digital management models, anti-lock braking methods are gaining reputation as an vehicle security system owing to the enhancements it makes to the braking efficiency.
Two Wheeler Fenders Market
Though two wheeler fenders are usually not important for the essential functioning of a automobile, they proceed to be an vital aftermarket security accent. The 2 wheeler fenders market is rising at a wholesome tempo with main market gamers introducing progressive designs and supplies to fabricate two wheeler fenders.
Two Wheeler Seats Market
A two wheeler seat, also called a saddle in some elements of the world, is nothing however a provision for the rider and passenger to sit down on. The seat connected to a two wheeler is sturdy in building, light-weight and capable of assist the load of the rider.
Two Wheeler Handlebars Market
Two wheeler handlebars are part of the steering mechanism. These are rods that facilitate the driving force in steering a automobile/two wheeler. Handlebars can be found in numerous sizes, shapes, and designs.
Two Wheeler Chain Sprocket Equipment Market
The 2 wheeler chain sprocket package market is projected to register a CAGR of 12% through the forecast interval, up from US$ 4.87 Bn in 2021, to achieve a valuation of US$ 17 Bn by 2032.
Two Wheeler Electrical Starter Magnet Market
Two wheeler electrical starter magnet market is prone to report a promising CAGR 10.6% through the forecast interval. The market is at the moment valued at US$ 36.96 Bn and is prone to attain US$ 93 Bn by 2032.
Two Wheeler Footrest Market
A non-moving piece of steel or rubber which typically is utilized by a pillion rider to relaxation his/her foot is called two wheeler footrest. Footrest in two wheelers is normally used for the comfort, security and luxury.
Wiper Blade Market
Evaluation on the wiper blade market reveals that the trade is anticipated to progress at round 6% CAGR from 2021 to 2031. Elevated demand for automobiles and the introduction of rear wipers in new vary of automobiles is projected to spice up the market.
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