Motorcycle Accessories Market
Motorcycle industry is an exceptionally gigantic industry
and it is additionally having a developing business sector of motorcycle
accessories. Motorcycle
accessories market has witnessed notable development as of late
as the worldwide market of motorcycles has developed. These accessories are
those parts which a client can utilize or introduce on the bicycle as an extra
element to give solace, wellbeing, comfort and security. Motorcycle accessories
are in high demand from various vehicle types such as electric, hybrid,
military, and others. However, due to the imposition of stringent lockdown and
curfew regulations imposed on various nations, this market may witness
challenges in terms of revenue generation.
Motorcycle accessories are better as well as give
confirmation of wellbeing, security and better execution. The worldwide
motorcycle accessories market is expected to gain attractive revenues in the
coming years as the demand of motorcycles will be on the rise. Expanding
buyers' interest for motorcycles is one of the factors fuelling the demand for
motorcycle accessories. Besides, improvement of savvy burnable motors alongside
expanding prevalence of motorcycles among young people is required to support
general deals of motorcycle accessories around the world. Overall deals of
motorcycles created just as non-industrial nations are projected to expand the
interest for motorcycle accessories in future. Change in patterns and elements
with government standards in the motorcycle market can limit the worldwide
motorcycle accessories market.
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Motorcycle industry is a very huge industry and it is also
having a growing market of motorcycle accessories. Motorcycle accessories
market has shown decent growth in recent years as the global market of
motorcycles has grown. Motorcycles accessories is those parts which a customer
can use or install on the bike as an additional feature to provide comfort,
safety, convenience and security.
The growth in global motorcycle market has registered the
growth of associated industries like motorcycle accessories and its components.
Motorcycle accessories, not only have higher aesthetic appeal but it also give
assurance of safety, security and better performance. The global motorcycle
accessories market is subjected to show a decent growth in the coming years
during the forecast period as the demand of the motorcycles will be increasing.
There will be a variation in growth as it is apparent across regions and
clusters, on the basis of penetration of the products introduced by major
motorcycle accessories manufacturers/suppliers and the rationality of the
product introduced by the regional player in their respective regions. Change
in trends and dynamics with government norms in the motorcycle market can
restrain the global motorcycle accessories market.
Automobile industry is subjected to be a very big industry
as it has many segments into it, which includes passenger vehicles (Hatchbacks,
sedan, SUV/MUV etc.), Commercial vehicles, Military vehicles, motorcycles,
hybrid vehicles, electric vehicles etc. These classified segments has
particular sub segments like accessories. Motorcycle accessories market is
being segmented on the basis of motorcycle types, product/accessory types,
distribution channel, sales channel, and region.
Motorcycle accessories are being segregated on the types of
motorcycles such as Cruiser, Scooters, mopeds, Standard, Sport bikes, Touring,
Multi-purpose bikes, E-bikes (electronic bikes) etc. On the basis of
product/accessory type the market bifurcated into Batteries, Frames and
Fittings, Lighting (Headlights, Flashers), Protective Gear (Helmets, jackets,
gloves, knee and elbow guards, boots etc.), others. Helmets and batteries are
on the top among the motorcycle accessories as they are most useful for both
motorcycle and rider, both of these accessories provide safety and security to
both motorcycle and rider. Further, the motorcycle accessories market is being
divided on the basis of distributional channel which includes OES (Original
equipment supplier), E- retailer, Single retailer, Multi-brand retailer etc.
The Multi-brand retailer provide accessories of multiple brands under a single
roof. Single brand retailer sell only a particular brands products/accessories
of different motorcycle types. Based upon the sales channel the motorcycle
accessories market is further segmented into OEM (Original equipment
manufacturer) and aftermarket. The OEM manufactures products for a particular
brand and sell from only that channel. The demand of OEM motorcycle accessories
is proportional to the production of motorcycles. Whereas demand of aftermarket
motorcycle accessories totally depends upon the motorcycle in stock. Production
and stock are expected to grow due to rising standards of living in developing
nations. Following channels are the reason which can lead to growth of the
demand in the motorcycle accessories market hence, these channel make the
availability of accessories easy and reach to the customers.
On the basis of region the motorcycle accessories market is
segmented by Asia Pacific, Middle-East & Africa, North and Latin America,
and Europe. Asia Pacific region, is the major manufacturer and user of
motorcycle market and this will allow this region to have significant demand
and market share for motorcycles accessories across the globe.
Key Players for the motorcycle accessories market are Alpinestars
S.p.A, Bajaj Auto Limited, Akropovic, Honda Motor Company Limited, Suzuki, Hero
Motocorp Limited, Ducati Motor Holding S.P.A, KTM Company, Loncin Motorcycle,
Sena Technologies, Chongqing Lifan Industry (Group) BMW, Company Limited and
Dainese, Schuberth.
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