The two wheeler accessories aftermarket is led by India, projecting a 9.70% CAGR until 2033. The pro, Nov. 09, 2023 (GLOBE NEWSWIRE) -- In 2023 and 2033, respectively, the two wheeler accessories aftermarket is expected to be worth US$ 19,987.20 million and US$ 45,608.96 million. Sales of two wheeler accessories aftermarket are anticipated to grow at a CAGR of 8.60% over the projection period. As the popularity of electric two-wheelers rises, so does the need for speciality accessories to meet the specific requirements of electric riders. Examples of these accessories include improved battery packs, portable chargers, and regenerative braking systems.
The integration of technology into two wheelers opens doors for smart accessories. GPS navigation systems, connected helmets with heads up displays, and theft prevention devices are areas ripe for innovation. As environmental consciousness grows, there is an opportunity for accessories such as sustainable, biodegradable seat covers and eco-friendly cleaning products that resonate with eco conscious riders.
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Offering tailor made accessories and customization services, such as paint jobs or personalized leather seats, can cater to the desire for individuality among riders. The aftermarket can explore recycling and upcycling options for old accessories, contributing to sustainability and reducing waste.
Key Takeaways:
- The two wheeler accessories aftermarket is led by the India, projecting an 9.70% CAGR until 2033.
- Germany is at the forefront, anticipating 8.30% CAGR growth by 2033.
- United States is poised for an 8.00% CAGR by 2033.
- The protective gear segment is set to dominate with a market share 30.0% through 2023.
- FMI predicts the standard motorcycle segment to hold a market share of 30.5% in 2023.
“The two wheeler accessories aftermarket is a dynamic sector, offering riders a diverse range of customizations, from safety gear to aesthetic enhancements, catering to their unique needs and preferences,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
How Key Players Are Revolutionizing the Two Wheeler Accessories Aftermarket?
In the fast paced world of two wheeler accessories, key players are at the forefront of a revolution. They are reshaping the aftermarket with innovation and customer centric strategies. These industry leaders are embracing technological advancements, offering a wide range of high quality, customizable accessories that cater to diverse consumer preferences.
Key players are streamlining distribution channels, enhancing e commerce platforms, and creating robust supply chains to meet the growing demand efficiently. They also invest in R&D, developing innovative safety and style solutions, from smart helmets to advanced riding gear.
By focusing on sustainability, quality, and affordability, they are making two wheelers safer, more stylish, and personalized for every rider, setting new industry standards and redefining the two wheeler accessories landscape.
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Two Wheeler Accessories Aftermarket Report Coverage:
| Attribute | Details | |
| Estimated Size in 2023 | US$ 19,987.20 million | |
| Projected Valuation in 2033 | US$ 45,608.96 million | |
| Value-based CAGR 2023 to 2033 | 8.60 % | |
| Forecast Period | 2023 to 2033 | |
| Historical Data Available for | 2018 to 2022 | |
| Analysis | Value in US$ million | |
| Key Regions Covered |
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| Key Segments Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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Product Portfolio:
- TVS Motor Company, a renowned name in the automotive industry, offers a diverse portfolio of innovative two wheelers. With a legacy of engineering excellence, TVS Motor Company combines style, performance, and reliability, catering to the needs of a global audience.
- Yamaha Motor Company Ltd. symbolizes innovative design and precision engineering in motorcycles. With a commitment to delivering exhilarating experiences, Yamaha product range blends technology and passion, crafting motorcycles that stand out on the road.
- Hero Motocorp Ltd. is a leading player in the two wheeler industry, focusing on creating affordable, high quality motorcycles. Their commitment to sustainability and innovation is reflected in their versatile lineup, making them the preferred choice for riders seeking efficiency and reliability.
More Insights Available:
Future Market Insights offers an unbiased analysis of the two wheeler accessories aftermarket, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the two wheeler accessories aftermarket, the report is segmented on the basis of 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 and Security Systems), two wheeler type (Standard Motorcycle, Cruiser Motorcycle, Sports Motorcycle, Standard Scooter, Maxi Scooter and Mopeds), Sales Channel (Online Two Wheeler Accessories Aftermarket, Authorized Outlets Two Wheeler Accessories Aftermarket and Independent Outlets Two Wheeler Accessories Aftermarket) across 7 major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East & Africa).
Two Wheeler Accessories Aftermarket Segmentation:
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
By Two Wheeler Type:
- Standard Motorcycle
- Cruiser Motorcycle
- Sports Motorcycle
- Standard Scooter
- Maxi Scooter
- Mopeds
By Sales Channel:
- Online
- Authorized Outlets
- Independent Outlets
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
Author By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Explore Future Market Insights, Inc. Extensive Coverage in Automotive Domain:
- Two Wheeler Aftermarket Components & Consumables Market Outlook: The global market is expected to attain a valuation of US$ 29.3 billion in 2023 and is projected to reach US$ 58 billion by 2033, trailing a CAGR of 7% from 2023 to 2033.
- ASEAN Automotive Aftermarket Growth: It is expected to expand its roots at a steady CAGR of 8.5% during the forecast period.
- Automotive Coolant Aftermarket Forecast: As per the latest market research conducted by FMI, is expected to record a CAGR of 4% from 2023 to 2033.
- APEJ Automotive Aftermarket Revenue: FMI forecasts revenue growth to expand from US$ 150 billion in 2023 to US$ 264 billion by 2033
- Motorcycle Lead Acid Battery Market Overview: The market is anticipated to rise from US$ 5.4 billion in 2023, projected to surpass US$ 9.1 billion by 2033.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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