Press release
Motorcycle Accessories Market is Set to Experience Revolutionary Growth by 2026
Motorcycle Accessories Market
Motorcycle accessories, apart from increasing aesthetic appeal, also ensure better performance, safety and security. Global motorcycle accessories market is projected to register a CAGR higher than 5% by 2020 and decline a bit on long term projections till 2026.A variation in CAGR is evident across geographies and clusters, subjected to penetration of products launched by established motorcycle accessories suppliers and cyclicity of product launched by local and regional player in respective geography.
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Improved economic outlook across the globe resulted into substantial increase in purchasing power of consumers over the past few years. Consequently, several industry verticals reported an increase in overall demand for respective products, and automotive industry is no different. However, different trends in sales reported across sub-segments within the automotive sector, but motorcycle sales has always remained impressive, particularly in high potential markets. Growth in global motorcycle market ascertained the growth of allied industries such as motorcycle component and accessories.
Key Companies-
Motorcycle Accessories Market: Key Players
Some of the Key players operating into the global motorcycle accessories market are
Akropovic
Bajaj Auto Limited
Suzuki
Honda Motor Company Limited
KTM Company
Loncin Motorcycle
Ducati Motor Holding S.p.A
Hero Motocorp Limited
Chongqing Lifan Industry (Group) Company Limited
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
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Motorcycle Accessories Market: Drivers and Restraints
Perpetual growth in motor cycle sales coupled with new variants of motor cycle introduced by manufacturers catalyzed the growth of motorcycle accessories market, which grew at a CAGR of over 4% in past five years. Expansion of European and American motorcycle manufacturers in emerging markets also contributed to the demand for motorcycle accessories. Technology advancement led to wider adoption of accessories across target customer base.Increasing consumers demand for motorcycle is one of the factor fuelling the demand for motorcycle accessories. Furthermore, development of cost effective combustible engines along with increasing popularity of motorcycles among youths is expected to boost overall sales of motorcycle accessories worldwide.
Worldwide sales of motorcycle in the developed as well as developing countries is projected to augment the demand for motorcycle accessories over the forecast period. With more manufactures focusing on technology and product development, the demand for motorcycle accessories is expected to showcase a promising future throughout the forecast period.
Consumers preference for aftermarket can hinder the sales for OEM (Original Equipment Market), as is one of the big challenge for the growth of the motorcycle accessories market.
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Motorcycle Accessories Market: Segmentation
On the basis of product type
Protective Gear
Frames and Fittings
Lighting
Headlights
Flashers
Bags & Luggage
Batteries
Others
On the basis of motorcycle type
Standard
Cruiser
Sport bikes
Touring
Dual-purpose
Scooters, mopeds
On the basis of distributional channel
Multi brand Retail
Organized Retail Outlet
Independent Outlets
Single Brand Retail
e-Retail
On the basis of market type
Original Equipment Market (OEM)
Aftermarket
On the basis of geography
North America
Latin America
West Europe
Eastern Europe
Middle East & Africa
Asia Pacific excluding Japan
Japan
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