The global two wheeler aftermarket components & consumables market share is anticipated to attain a valuation of US$ 29.3 billion in 2023 and is expected to reach US$ 58 billion by 2033, trailing a CAGR of 7% during the forecast period.
The Two Wheeler Aftermarket Components & Consumables Market is witnessing robust growth driven by several factors including increasing motorcycle and scooter ownership, rising demand for customization and performance enhancement, and the need for regular maintenance and replacement of components and consumables. Two-wheelers, including motorcycles and scooters, are popular modes of transportation globally, particularly in urban areas where they offer convenience, affordability, and agility in navigating through traffic.
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As the number of two-wheelers on the road continues to grow, so does the demand for aftermarket components and consumables such as tires, brakes, filters, lubricants, batteries, and various replacement parts. Riders often seek aftermarket solutions to upgrade their vehicles’ performance, enhance aesthetics, or replace worn-out parts with higher-quality alternatives. Moreover, the aftermarket offers a wide range of options for customization, allowing riders to personalize their vehicles according to their preferences and riding style.
Additionally, regular maintenance and servicing are essential for ensuring the safety, reliability, and longevity of two-wheelers, driving demand for consumables such as engine oil, spark plugs, air filters, and brake pads. Independent repair shops, online retailers, and specialty stores play a crucial role in supplying aftermarket components and consumables to meet the diverse needs of two-wheeler owners.
Furthermore, technological advancements in aftermarket components, such as improved materials, advanced manufacturing techniques, and innovative designs, are contributing to market growth by offering higher performance, durability, and reliability compared to OEM (original equipment manufacturer) parts. As the aftermarket continues to evolve, driven by changing consumer preferences, technological innovation, and regulatory requirements, the Two Wheeler Aftermarket Components & Consumables Market is expected to expand further, presenting opportunities for manufacturers, retailers, and service providers to cater to the needs of two-wheeler enthusiasts and riders worldwide.
Key Takeaways
- India two wheeler aftermarket components & consumables industry is projected to expand with a CAGR of 7.3% during the forecast period.
- The demand for two wheeler aftermarket components & consumables in China is expected to capture a CAGR of 7.2% from 2023 to 2033.
- By product type, the consumable segment is estimated to secure a CAGR of 7.5% during the forecast period.
- North America is anticipated to expand with a CAGR of 6.9% between 2023 and 2033.
The rising shift of aftermarket toward online sales channels and growing demand for replacement parts is expected to drive market growth during the forecast period –Anticipated by an FMI Analyst.
Competitive Landscape
The market for two wheeler aftermarket components & consumables is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.
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Key Segments Profiled in the Two-wheeler Aftermarket Components & Consumables Market
By Two-Wheeler Type:
- Standard Motorcycle
- Cruiser Motorcycle
- Sports Motorcycle
- Standard Scooter
- Maxi Scooter
- Mopeds
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
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and 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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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