The ever-evolving Coronavirus (COVID-19) has caused interruptions in supply chains of companies in the Motorcycle Accessories Market. Through careful analysis of the COVID-19, our analysts at Fact.MR offer you a bird’s eye view of the current on goings of top tier companies in the Motorcycle Accessories Market. Learn how leading companies are striking potential partnership agreements to generate sales in the Motorcycle Accessories Market.
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Evolving culture of the motorcycle industry, along with interest of riders in framing their unique identity, has led the modification trend, wherein aftermarket-produced motorcycle accessories are increasingly sought-after. Modifications in motorcycles range from moderate to extreme, with typical modifications involving frames & fittings, electrical & electronics, and handle accessories.
The motorcycle accessories market will record an above-average 4.6% volume CAGR
during the forecast period, 2018 to 2026, according to a recently published Fact.MR report. Proliferation of aftermarket products is considered to be a boon for growth of the motorcycle accessories market, despites its consequential complexities for manufacturers, suppliers, and owners alike.
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Global Motorcycle accessories market segmentation and forecast
The global Motorcycle accessories market is segmented on the basis of product type, motorcycle type, sales channel and region.
On the basis of product type, the global motorcycle accessories market is segmented into
- Handle Accessories
- Frames & Fittings
- Electrical & Electronics
- Protective Gears
- Bags & Carriage Frames
- Seat Covers and Security Systems.
Based on Motorcycle type, the market is segmented into
- Conventional
- Cruiser
- Sports
- Sports
- Off-road.
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Sales of motorcycle accessories for conventional motorcycles will exceed 400,000 thousand units in 2018. This number will remain substantially higher than sales for cruiser, sports, and off-road motorcycles combined.
Female Riders to Aid Transformation in Motorcycle Industry, Thereby Augmenting Demand for Motorcycle Accessories
Female riders are aiding transformation of the motorcycle industry, and women ridership is on the rise despite decline in the traditional motorcycle brands. In the U.S. alone motorcycle registrations closed in on 8.4 million in 2017, and many of the registrations belonged to women, according to Motorcycle Industry Council. The rise in female riders have paved lucrative avenues for stakeholders in the motorcycle accessories market, in terms of design and innovation.
India is envisioned to outgrow China in the motorcycle accessories market, with 1% difference in CAGR through 2026. Growth in India is underpinned primarily by availability of facilitated vehicle finance options and foray of fuel-efficient motorcycles. Gradual decline in motorcycle sales in China against the backdrop of curbs on petrol-based motorcycles, has led the country to witness a shift from its pervasive dominance to the second place, following India. However, difference between revenue shares of India and China will remain insignificant, according to the study.
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