Press release
Two Wheeler Accessories Market to Reach US$ 14.8 Bn Revenue Between 2020 and 2026
Two Wheeler Accessories Market 2022
PMR states that the global two wheeler accessories market is estimated to witness a healthy CAGR of 6.1% from 2018 to 2026. In 2017, the market was worth US$ 8.8 Bn and is projected to rise to a revenue of US$ 14.8 Bn by the end of 2026. This growth can be attributed to the increasing demand for two wheelers across the globe. Moreover, the advent of electric vehicles is anticipated to create new opportunities for the growth of the two wheeler accessories market in the coming years.
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Demand for Two Wheeler Accessories to Accelerate with Altering Automotive Purchase Preferences of the Global Semi-urban Population
The Two Wheeler Accessories Market is a rapidly growing market with immense potential. The Two Wheeler Accessories Industry comprises of products such as horns, headlamps, indicators, tail lamps, mirrors, seats, speedometers, fuel tanks and covers. The Two Wheeler Parts and Accessories Industry has been recording a healthy growth rate in the past few years on account of various factors such as increase in demand for two wheelers, rising income levels of people and changing lifestyles.
Key Companies-
• TVS Motor Company
• AGV sports group
• GIVISrl
• Steelbird Hi-Tech India Pvt. Ltd.
• Flying co., LTD.
• YF Protector Co. Ltd.
• Foshan Xinmatuo Motorcycle Parts Industrial Company
• Yamaha Motor Company Ltd.
• Hero Motocorp Ltd.
• Harley-Davidson, Inc.
• VEGA AUTO ACCESSORIES PVT. LTD.
• Omax Auto Ltd
• Studds Accessories Ltd.
• OM Steel Industries
• OSRAM Licth AG
List of factors tracked in the Automotive Industry Market Report -
• Automotive Industry GVA
• Automotive production outlook
• Automotive sales outlook
• Fleet on road outlook
• Automotive carbon emissions outlook
• Emissions & safety norms
• Installation rates of components / accessories
• Replacement rates of components / accessories
• Growth in aftermarket
Growth in service centers
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Research Methodology
PMR utilizes robust methodology and approach to arrive at market size and related projections. The research methodology for this report is based on 3 dimensional model. We conduct about 45-60 min duration detailed interviews with product manufacturers; apart from this we also collect market feedback from industry experts. To validate this data, we interact with senior panel members having more than 10 years of experience in relevant field. The panel members help in validating the findings and fill the gaps if any. In addition, we leverage on our existing pool of information, paid database and other valid information sources available in public domain. Usually industry interactions extend to more than 50+ interviews from market participants across the value chain.
Data Collection
PMR collects data from secondary sources including company annual reports_bk_01_01_2020, association publications, industry presentations, white papers, and company press releases apart from these we leverage over paid database subscriptions and industry magazines to collect market information and developments in exhaustive manner. After being done with desk research, detailed questionnaire and discussion guide is formulated to initiate primary research with key industry personnel; the discussion aims at collecting key insights, growth perspectives, prevalent market trends and quantitative insights including market size and competition developments. Both of these research approaches help us in arriving at base year numbers and market hypothesis.
Data Validation
In this phase, PMR validates the data using macro and micro economic factors. For instance, growth in electricity consumption, industry value added, other industry factors, economic performance, growth of top players and sector performance is closely studied to arrive at precise estimates and refine anomalies if any.
Data Analysis and Projection
Data analysis and projections were made based on proprietary research frameworks and statistical analysis, which was further validated from industry participants. These frameworks include Y-o-Y growth projections, macro-economic factor performance, market attractiveness analysis, key financial ratios, and others.
For public companies we capture the data from company website, annual reports_bk_01_01_2020, investor presentations, paid databases. While for privately held companies, we try to gather information from the paid databases (like Factiva) and based on the information we gather from databases we estimate revenue for the companies. In addition, the team tries to establish primary contact with the companies in order to validate the assumptions or to gather quality inputs.
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Key Questions Answered in This Report.
• What are the Roadblocks for Two Wheeler Accessories Suppliers?
• What are the Key Opportunities for Two Wheeler Accessories Manufacturers?
• How is Focus on Safety Influencing Two Wheeler Accessories Demand?
• What is the Regulatory Impact on Global Sales of Two Wheeler Accessories?
• Which Region Offers the Largest Opportunity for Sales of Two Wheeler Accessories?
• Where Does the U.S. Stand in the Market for Two Wheeler Accessories?
• What Is the Outlook for Two Wheeler Accessories Manufacturers in China?
• Why is Germany a Lucrative Market for Two Wheeler Accessories Manufacturers?
• Why Will Belgium Outpace Other European Markets for Two Wheeler Accessories?
• Why is There High Demand for Tires in Two Wheeler Accessories?
• Why are Sales of Two Wheeler Accessories Surging?
Related Reports:
Smart Bicycle Accessories Market -https://www.persistencemarketresearch.com/market-research/smart-bicycle-accessories-market.asp
According to the latest study by Persistence Market Research (PMR), the smart bicycle accessories market will grow at ~8% year-over-year to cross the one billion mark in 2019.
Automotive Exterior Accessories Market - https://www.persistencemarketresearch.com/market-research/automotive-exterior-accessories-market.asp
Automotive Exterior Accessories Market Segmented By Covers, Front Guards, Racks, Body Kits, Window Films Product Type in Passenger Car, LCVs, HCVs Vehicle Type, Available Online and Offline.
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Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
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