The two-wheeler aftermarket components and consumables market is poised for substantial growth, with a projected compound annual growth rate (CAGR) of 7%, reaching an estimated market value of USD 58 billion by 2033. This significant expansion is driven by the increasing use of two-wheelers, especially in urban areas where motorcycles and scooters are popular for their convenience and fuel efficiency. Additionally, the rising consumer demand for enhanced performance and customization is propelling the market, as riders seek high-quality replacement parts and consumables like tires, brake pads, and engine oils.
The growth of e-commerce platforms has also played a crucial role by making a wide array of aftermarket products more accessible to consumers. As a result, businesses in the two-wheeler aftermarket components and consumables market are well-positioned to take advantage of these trends, ensuring a dynamic and prosperous future.
The market is expected to benefit from the growing trend of customer customization, supported by increased design and manufacturing flexibility within the automotive industry. Poor road conditions and declining vehicle performance further create a favorable environment for the aftermarket components industry, leading to higher demand for repairs and maintenance.
Moreover, relatively low production costs and an increase in road accidents are contributing to market growth. The rising need for replacement parts offers promising opportunities for the expansion of the automotive aftermarket in the foreseeable future.
The market is undergoing a significant shift toward digitization, primarily driven by technological advancements. The aftermarket is increasingly moving to online platforms, prompting stakeholders such as OEMs, OESs, wholesalers, insurers, and workshops to adapt to the growing trend of online sales. Factors expected to drive market growth during the forecast period include:
- The adoption of advanced technology in manufacturing two-wheeler auto parts.
- The rise in consumer and passenger vehicle production.
- The digitalization of automotive repair and maintenance services.
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Key Takeaways from the Two Wheeler Aftermarket Components & Consumables Market Report:
- 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.
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.
Leading Key Players:
- ZF Friedrichshafen AG
- 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 Licht AG
- BMW Group
- BITUBO S.r.l.
Two Wheeler Aftermarket Components & Consumables Market Segmentation:
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
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