A recent market study published by Future Market Insights on the two wheeler components & consumables aftermarket includes global industry analysis for 2016-2020 and opportunity assessment for 2021-2031, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical and current growth parameters of the two wheeler components & consumables aftermarket, the growth prospects of the market are obtained with maximum precision.
As per Future Market Insights, the two wheeler components & consumables demand is expected to rise at a year-on-year (YoY) growth of 6.7%, reaching US$ 26.1 Bn in 2021. Increasing demand from motorcycle segment will drive the two wheeler components & consumables market at 7.8% CAGR over the forecast period from 2021 to 2031.
What is the Impact of COVID-19 on Two Wheeler Components & Consumables Aftermarket?
Lockdown imposed across various countries has negatively impacted the market. Limited production and supply-chains disruption due to travel restrictions negatively affected sales opportunities. Despite the difficult situation, economies are steadily recovering from the effect of COVID-19 induced slowdown. Some of the leading companies already have recommenced their production activities. Against this backdrop, the pandemic is unlikely to have a long-term effect on the two wheeler components & consumables aftermarket.
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Key Points Covered in Two Wheeler Components & Consumables Aftermarket:
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on XYZ and How to Navigate
- Recommendation on Key Winning Strategies
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Key Takeaways from Two Wheeler Components & Consumables Aftermarket Study
- Standard motorcycle segment is projected to hold over 26% volume share of the global market in 2021 and will continue exhibiting robust demand for consumables.
- Demand for consumables is set to hold over 60% of the market share in terms of value by the end of forecast period.
- South Asia & Pacific is expected to remain a primary market backed by rising demand for two wheelers in the region. It is expected to account for over 34% of the market share in 2021.
- Online sales channels segment is set to surge at CAGR of approximately 8.1% over the coming decade.
- India is emerging as a key market, totaling US$ 4.5 Bn in 2021 and it is forecast to register 9.4% CAGR in the forecast period.
“Increasing adoption of two wheelers, especially across India, China, and Germany, has compelled the manufacturers to form strategic alliances with local distributors and independent dealers to strengthen their position in the industry. This will continue fuelling the demand in the market,” says a Future Market Insights analyst.
he market players featured in the report are ZF Friedrichshafen AG, Holley Performance Products, Exide Technologies, Advance Auto Parts, Harley Davidson, Tenneco, Inc., FastBikeGear, Bajaj Auto, Gabriel India Limited, Showa Corporation, KYB Corporation, TVS Motor Company, Foshan Xinmatuo Motorcycle Parts Industrial Company, Hero Motocorp Ltd., Yamaha Motor Company Ltd., Hella KGaA Hueck & Co, OSRAM Licth AG, BMW Group, BITUBO S.r.l.
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Two Wheeler Components & Consumables Aftermarket by Category:
By Two Wheeler Type:
- Standard Motorcycle
- Cruiser Motorcycle
- Sports Motorcycle
- Standard Scooter
- Maxi Scooter
By Product Type:
- Fuel Injector
- Fuel Filter
- Air Filter
- Brake Pads
- Brake Shoes
- Brake Caliper
- Accelerator & Brake Cable
- Electric Starter Motor
- Clutch Plate
- Chain & Sprocket
- Headlight Bulb
- Turn Indicator Bulb
- Spark Plugs
- Ignition Coil
- Shock Absorber
- Exhaust Muffler
- Washing Shampoo
- Cleaning Polish
- Engine Oil
By Sales Channel:
- Authorized Dealers
- Independent Dealers