Global sales of Two Wheeler Aftermarket Components & Consumables Market are set to be valued at over US$ 55.33 Billion in 2031, as per Future Market Insights (FMI). The market is poised to expand at over 7.8% CAGR due to the growing sales of two wheelers worldwide.
The two-wheeler aftermarket components and consumables market refers to the sales of spare parts, accessories, and consumables for motorcycles, scooters, and other two-wheeled vehicles after the initial purchase of the vehicle. These components and consumables can include items such as tires, brakes, batteries, filters, lubricants, and other accessories.
The global two-wheeler aftermarket components and consumables market is expected to grow in the coming years, driven by a combination of factors including the increasing popularity of two-wheeled vehicles in developing countries, the growing demand for customization and personalization of vehicles, and the need for replacement parts and maintenance as vehicles age.
Request a Sample of this Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-11733
One of the major trends driving the growth of the two-wheeler aftermarket components and consumables market is the increasing availability of online sales channels, which make it easier for consumers to purchase spare parts and accessories from the comfort of their own homes. Additionally, there is a growing focus on sustainability, with an increasing number of consumers seeking out environmentally friendly products and materials.
Coupled with this, the increasing demand for components and consumables for two wheelers in China, Japan, the U.S. and Germany will create lucrative growth opportunities for the market. As per the study, Asia Pacific will hold the largest share of 57.1%, followed by Europe with 25.2% through 2031.
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.
Request for Customization:
https://www.futuremarketinsights.com/customization-available/rep-gb-11733
Who is Winning?
The two wheeler components & consumables aftermarket is highly fragmented. Key players will account for around 15-20% of the market share.
In order to gain competitive edge, these companies are likely to invest in new technological advances for the growth of their distribution networks.
Some of the key players in this industry include but are not limited to 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.
Two Wheeler Components & Consumables Aftermarket by Category
By Two Wheeler Type:
- Standard Motorcycle
- Cruiser Motorcycle
- Sports Motorcycle
- Standard Scooter
- Maxi Scooter
- Mopeds
Ask the Analyst:
https://www.futuremarketinsights.com/ask-question/rep-gb-11733
By Product Type:
- Components
- Fuel Injector
- Fuel Filter
- Air Filter
- Brake Pads
- Brake Shoes
- Brake Caliper
- Accelerator & Brake Cable
- Electric Starter Motor
- Clutch Plate
- Chain & Sprocket
- Battery
- Headlight Bulb
- Turn Indicator Bulb
- Spark Plugs
- Ignition Coil
- Shock Absorber
- Seat
- Exhaust Muffler
- Mirror
- Tires
- Consumables
- Washing Shampoo
- Cleaning Polish
- Coolant
- Engine Oil
By Sales Channel:
- Authorized Dealers
- Independent Dealers
- Online
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs