The two wheeler accessories aftermarket is predicted to be valued at US$ 19,987.20 million in 2023 and US$ 45,608.96 million by 2033. Over the projection period, sales in the two wheeler accessories aftermarket are expected to increase at a CAGR of 8.60%. With the surge in electric two wheelers, there is a growing demand for specialized accessories like portable chargers, enhanced battery packs, and regenerative braking systems to cater to the unique needs of electric riders.
The integration of technology into two wheelers opens doors for smart accessories. GPS navigation systems, connected helmets with heads up displays, and theft prevention devices are areas ripe for innovation. As environmental consciousness grows, there is an opportunity for accessories such as sustainable, biodegradable seat covers and eco-friendly cleaning products that resonate with eco conscious riders.
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Offering tailor made accessories and customization services, such as paint jobs or personalized leather seats, can cater to the desire for individuality among riders. The aftermarket can explore recycling and upcycling options for old accessories, contributing to sustainability and reducing waste.
Key Takeaways from the Two Wheeler Accessories Aftermarket
- The two wheeler accessories aftermarket is led by the India, projecting an 9.70% CAGR until 2033.
- Germany is at the forefront, anticipating 8.30% CAGR growth by 2033.
- United States is poised for an 8.00% CAGR by 2033.
- The protective gear segment is set to dominate with a market share 30.0% through 2023.
- FMI predicts the standard motorcycle segment to hold a market share of 30.5% in 2023.
“The two wheeler accessories aftermarket is a dynamic sector, offering riders a diverse range of customizations, from safety gear to aesthetic enhancements, catering to their unique needs and preferences.”
How Key Players are Revolutionizing the Two Wheeler Accessories Aftermarket?
In the fast paced world of two wheeler accessories, key players are at the forefront of a revolution. They are reshaping the aftermarket with innovation and customer centric strategies. These industry leaders are embracing technological advancements, offering a wide range of high quality, customizable accessories that cater to diverse consumer preferences.
Key players are streamlining distribution channels, enhancing e commerce platforms, and creating robust supply chains to meet the growing demand efficiently. They also invest in R&D, developing innovative safety and style solutions, from smart helmets to advanced riding gear.
By focusing on sustainability, quality, and affordability, they are making two wheelers safer, more stylish, and personalized for every rider, setting new industry standards and redefining the two wheeler accessories landscape.
Key Companies Profiled
- TVS Motor Company
- Yamaha Motor Company Ltd.
- Hero Motocorp Ltd.
- Harley Davidson
- Vega Auto Accessories Ltd.
- Studds Accessories Ltd.
- OM Steel Industries
- Osram Licht AG
- AGV Sports Group
- Steelbird Hi- Tech India Pvt. Ltd.
- YF Protector Co. Ltd
- Alpinestars USA Inc.
- AltRider LLC.
- Cobra USA Inc.
- Motorsport Aftermarket Group
- Rizoma S.r.l
- Scorpion Sports Inc.
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Product Portfolio
- TVS Motor Company, a renowned name in the automotive industry, offers a diverse portfolio of innovative two wheelers. With a legacy of engineering excellence, TVS Motor Company combines style, performance, and reliability, catering to the needs of a global audience.
- Yamaha Motor Company Ltd. symbolizes innovative design and precision engineering in motorcycles. With a commitment to delivering exhilarating experiences, Yamaha product range blends technology and passion, crafting motorcycles that stand out on the road.
- Hero Motocorp Ltd. is a leading player in the two wheeler industry, focusing on creating affordable, high quality motorcycles. Their commitment to sustainability and innovation is reflected in their versatile lineup, making them the preferred choice for riders seeking efficiency and reliability.
Key Segments Covered in The Two Wheeler Accessories Aftermarket Report
Two Wheeler Accessories Aftermarket by Product:
- Handle Accessories
- Handlebars
- Grips
- Electrical & Electronics
- Lightings
- Horns
- Frames & Fittings
- Crash Protection
- Windshield
- Foot Pegs
- Protective Gear
- Helmets
- Professional Body Wear
- Bags & Carriage Frames
- Exhaust Accessories
- Seat Covers
- Security Systems
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By Sales Channel:
- Online
- Authorized Outlets
- Independent Outlets
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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