Fact.MR reveals Revenues from Crash Protection to be 1.5X Higher than Lightings in Motorcycle Accessories Market
UNITED STATES, September 14, 2021 /EINPresswire.com/ — Fact.MR’s Motorcycle Accessories market report forecasts a positive outlook through 2021. Leisure activities like bike racing and stunts among Indian youth to create a hype for the product. Increased improvement in product features like helmets integrated with Bluetooth capability increased the popularity among the consumers.
China being the epicentre for the motorcycle accessories market, the stringent rules from the government because of increased pollution to hamper the growth. Low cost, energy efficiency, and no license registration are some of the factors that are impacting positively on the market.
Helmets and the batteries are on the top among the accessories, being the most popular among the youth due to the safety and aesthetic they provide. Protective gears to be the most popular component through 2021 and beyond.
“Rising demand for premium motorcycles is compelling prominent motorcycle accessories manufacturers to introduce state-of-the art and high-quality accessories, complete with advanced automation, thereby uplifting expansion prospects for the market in the long run,” says a Fact.MR analyst.
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Key Takeaways
• Introduction of new BS IV engines in India will enhance the sales of conventional motorcycles, creates new opportunities for motorcycle accessories market.
• Europe and North-America to remain the epicentre of motorcycle accessories, owing to increased motorcycle sales.
• Increased pollution and tailpipe emission to decelerate the sales of conventional vehicles in APAC region.
• Cruiser bike sales to grow in 2021 and beyond.
• Manufacturers to invest more in R&D and product development activities for leisure accessories.
• Independent outlets to dominate the motorcycle accessories through 2026.
• Motorcycle Accessories Market- Prominent Drivers
• Increasing consumer demand and cost-effective combustible engines to increase popularity among millennials.
• Manufacturing companies focusing on advanced technology and product development to raise the product demand.
• Motorcycle Accessories Market- Key Restraint
• Stringent rules and regulations from the government regarding the safety of passengers and riders might restrain the product growth.
• Due to the low cost and less pollution, electric bikes are preferred over conventional bikes, hampering the growth.
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
On the basis of sales channel, the market is segmented on the basis of Specialized Outlets, Independent Outlets and Online.
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Competitive Landscape
Some prominent key players profiled by Fact.MR includes TVS Motor Company, Yamaha Motor Company Ltd., Hero Motocorp Ltd., Harley-Davidson Inc., Vega Auto Accessories Pvt. Ltd., Omax Auto Ltd., OM Steel Industries, AGV Sports Group and Steelbird Hi-Tech India Pvt. Ltd among others.
New innovations and product offerings from the key players are generating the revenue for the motorcycle accessories. For instance, in October 2020, Hero MotoCorp launched a new variant of its 125-cc bike Glamour with new features like USB charger attached to the handlebar.
Additionally, new mergers between key players are paving their way for a sustainable growth. Like, in February 2021, Hero MotoCorp set up a new vertical dedicated to drive its new business of Harley-Davidson products and accessories distribution in India.
More Valuable Insights on Motorcycle accessories market
Fact.MR, in its new offering, presents a comprehensive analysis of the global motorcycle accessories market. The study divulges essential insights on the motorcycle accessories market on the basis of the product type (handle accessories, handle bars and grips), electrical and electronics (lighting and horns), frames and fitting (crash protection, windshield, foot pegs), protective gears, helmets, professional body wears, bags & carriage frames, exhaust systems, seat covers, security systems), two wheeler type (conventional, cruiser, sports and off-road), distribution channel (specialized outlets, independent outlets, online), and across six major regions.
Key Questions Covered in the Report
• How will the global motorcycle accessories market grow through 2026?
• Which segment to hold a lucrative share in the sales channel segment?
• Which regions might witness the demand maturing in the forecast period?
• What will be the impact of Covid-19 on the motorcycle accessories market?
• Which are the prominent motorcycle accessories manufacturers?
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Explore Fact.MR’s Coverage on the Automotive Domain
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