The ever-evolving coronavirus (COVID-19) has caused disruptions in the supply chains of companies in the motorcycle aftermarket. Through careful analysis of COVID-19, our Fact.MR analysts provide you with an overview of the news from leading companies in the motorcycle aftermarket. Find out how leading companies are entering into potential partnership agreements to drive sales in the motorcycle aftermarket.
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The changing culture of the motorcycle industry, along with the interest of bikers in defining their unique identity, has led to the trend of modification, in which aftermarket motorcycle accessories are increasingly becoming more sought after. Modifications to motorcycles range from moderate to extreme, with typical modifications involving frames and accessories, electrical and electronics, and grip accessories.
Motorcycle Accessories Market To Record 4.6% Above Average Volume CAGR
during the forecast period, 2018 to 2026, according to a recently released Fact.MR report. The proliferation of aftermarket products is seen as a boon to the growth of the motorcycle accessories market, despite the complexities it entails for manufacturers, suppliers and owners.
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Global Motorcycle Accessories Market Segmentation and Forecast
The global motorcycle accessories market is segmented on the basis of product type, motorcycle type, sales channel, and region.
On the basis of product type, the global motorcycle accessories market is segmented into
- Handle accessories
- Frames and fittings
- Electricity and electronics
- Protective equipment
- Transport bags and frames
- Seat covers and security systems.
Based on motorcycle type, the market is segmented into
- Off road.
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Sales of motorcycle accessories for conventional motorcycles will exceed 400,000 units in 2018. This number will remain significantly higher than sales of cruising, sport and off-road motorcycles combined.
Female Bikers Help Transform Motorcycle Industry, Increasing Demand For Motorcycle Accessories
Bikers are helping to transform the motorcycle industry, and the number of women is increasing despite the decline of traditional motorcycle brands. In the United States alone, motorcycle registrations reached 8.4 million in 2017, and many were owned by women, according to the Motorcycle Industry Council. The rise of female bikers has opened up lucrative avenues for players in the motorcycle accessories market, in terms of design and innovation.
India is expected to overtake China in the motorcycle accessories market, with a difference of 1% CAGR through 2026. Growth in India is mainly driven by the availability of facilitated vehicle financing options and the foray into of fuel efficient motorcycles. The gradual decline in motorcycle sales in China amid restrictions on gasoline-powered motorcycles has led the country to shift from its ubiquitous dominance to second place, after India. However, the difference between India’s and China’s income shares will remain insignificant, according to the study.
Read more trend reports and the like from Fact.MR – https://www.globenewswire.com/en/news-release/2019/02/19/1734278/0/en/Marine-Seats-Manufacturers-Reliance- on-Plastic -Continue-Despite-Growth-Environmental-Concerns-Trouve-Fait-MR-Etude.html
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