Dublin, Sept. 17, 2024 (GLOBE NEWSWIRE) -- The "Two Wheeler Accessories - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Two Wheeler Accessories was estimated at US$12.1 Billion in 2023 and is projected to reach US$18.2 Billion by 2030, growing at a CAGR of 6.1% from 2023 to 2030.
Technological advancements have significantly impacted the development and functionality of two wheeler accessories. Innovations in materials science have led to the production of lighter, stronger, and more durable protective gear. Smart helmets equipped with Bluetooth connectivity, built-in cameras, and heads-up displays enhance rider safety and convenience. Advanced suspension systems and performance parts improve ride quality and handling. The integration of GPS and IoT technologies in navigation systems and anti-theft devices offers enhanced security and functionality.
Furthermore, advancements in LED and laser lighting provide better visibility and aesthetics, contributing to safer night riding. These innovations are transforming two wheeler accessories into sophisticated and multifunctional components.
Why Is There an Increasing Demand Across Various Markets?
The demand for two wheeler accessories is increasing across various markets due to several factors. In developed markets, the emphasis on safety and performance drives the adoption of advanced protective gear and performance-enhancing accessories. The growing popularity of motorcycle touring and adventure riding boosts the demand for luggage systems, navigation aids, and comfort accessories. In emerging markets, the rising disposable incomes and the increasing use of motorcycles and scooters as primary transportation modes fuel the demand for practical and safety-oriented accessories.
Additionally, the trend towards personalization and customization of vehicles enhances the demand for aesthetic and functional accessories. The increasing awareness of road safety and the implementation of stricter safety regulations also drive the market growth.
What Are the Key Growth Drivers in the Two Wheeler Accessories Market?
The growth in the two wheeler accessories market is driven by several factors. The increasing focus on rider safety and the implementation of stringent safety regulations are major drivers. The rising disposable incomes and the growing culture of biking as a lifestyle contribute to market expansion. Technological advancements that enhance the functionality, safety, and aesthetics of accessories also boost demand. The growing popularity of motorcycle touring and adventure riding drives the need for specialized accessories.
Additionally, the trend towards customization and personalization of two wheelers encourages the adoption of various aesthetic and performance-enhancing accessories. The expansion of the two wheeler market, particularly in emerging economies, further propels the demand for accessories.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Protective Gears segment, which is expected to reach US$10.5 Billion by 2030 with a CAGR of a 6.5%. The Fittings / Lights segment is also set to grow at 6.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $3.2 Billion in 2023, and China, forecasted to grow at an impressive 9.7% CAGR to reach $4.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Two Wheeler Accessories Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as GIVI Srl, Harley-Davidson, Inc., Hero MotoCorp Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 246 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $12.1 Billion |
| Forecasted Market Value (USD) by 2030 | $18.2 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- World Market Trajectories
- Global Economic Update
- Two Wheeler Accessories - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
FOCUS ON SELECT PLAYERS (Total 46 Featured):
- GIVI
- Harley-Davidson
- Hero MotoCorp Ltd.
- OM Steel Industries
- Omax Autos Ltd.
- Orion Motors India
- Osram Licht AG
- Steelbird Hi-Tech India Ltd. (SBHT)
- Studds Accessories Ltd.
- TVS Motor Co., Ltd.
- Vega Auto Accessories Pvt., Ltd.
- Yamaha Motor Co., Ltd.
- YF Protector Co. Ltd.
MARKET TRENDS & DRIVERS
- Increasing Focus on Rider Safety and Comfort
- Growth in Motorcycle Touring and Adventure Riding
- Technological Advancements in Accessory Design
- Rising Adoption of Smart and Connected Accessories
- Expansion of Aftermarket Segment
- Demand for Customization and Personalization
- Growth in E-Commerce and Online Retail Channels
- Increasing Disposable Incomes in Emerging Markets
- Development of Lightweight and Durable Materials
For more information about this report visit https://www.researchandmarkets.com/r/8l5sgu
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