PUBLISHER: Market Research Future | PRODUCT CODE: 1499365
PUBLISHER: Market Research Future | PRODUCT CODE: 1499365
Global Motorcycle Parts and Accessories Market Research Report by Motorcycle Type, By Product Type, Motorcycle Accessories {Seat & Seat Covers, Storage, Protective Gears, Handlebars, Frames & fitting, Electrical & Electronics, Backrests, Engine Guard, Windshield, Others), By Distribution Channel (Brick & Mortar Stores, E-commerce Marketplace, Direct-to-Consumer, Online Retailer), By End-Users (OEM, Aftermarket) and By Region -Forecast Till 2032
The Motorcycle Parts and Accessories Market was valued at USD 3,326.60 million in 2022. The global motorcycle parts and accessories market is expected to increase from USD 3,490.66 million in 2023 to USD 5,497.14 million by 2032, with a compound yearly growth rate (CAGR) of 5.2% throughout the forecast period. Motorcycle parts and accessories are components and systems that are developed, manufactured, and integrated to create motorcycles with the appropriate aesthetics, performance, and cost. It contains body components such as the engine and engine parts, suspension parts, battery and battery parts, tank, exhaust, brakes and brake parts, and dashboard. Accessories include seat and seat covers, storage, protective gear, handlebars, frames and fittings, electrical and electronics, backrests, engine guards, windshields, and other items.
The rapid pace of urbanization, combined with increasing urban traffic congestion, drives demand for motorcycle components and accessories. As cities expand, traffic congestion becomes more severe, making motorcycles an increasingly popular means of transportation due to their flexibility and efficiency on congested roadways. Motorcycles provide an effective way for commuters to navigate traffic bottlenecks and get to their destinations quickly. This urbanization-driven boom in motorcycle usage creates a greater need for parts that improve performance, safety, comfort, and aesthetics. As urban riders look to improve their commuting experiences, accessories for storage, navigation, communication, and protection become more popular. The demand for dependable and high-quality parts that address urban mobility issues drives the motorcycle parts and accessories industry, where innovation and adaptation are critical in addressing the demands of a growing urban context.
Market Segment insights
The Motorcycle Parts and Accessories Market is segmented by motorcycle type, including Bagger, Cruiser, Touring, and Others.
The market is segmented by product type (Motorcycle Parts {Body Parts, Engine & Engine Parts, Suspension Parts, Battery & Battery Parts, Tank, Exhaust, Brakes & Brake Parts, Dashboard, Others} and Motorcycle Accessories {Seat & Seat Covers, Storage, Protective Gears, Handlebars, Frames & Fittings, Electrical & Electronics, Backrests, Engine Guard, Windshield, Others).
The market is segmented based on end users, with OEM and Aftermarket categories. The Motorcycle Parts and Accessories Market is segmented into four distribution channels: brick and mortar stores, e-commerce marketplaces, direct-to-consumer, and online retailers.
The market is divided into two segments based on the sales channel: OEM and aftermarket.
Regional insights
In 2022, the North American motorcycle parts and accessories market accounted for around 61.2%. It is predicted to increase at a considerable CAGR throughout the study period. Demand for electric motorcycles has increased significantly in North America's motorcycle parts and accessories market. This shift could be attributed to a variety of factors pushing the adoption of electric motorcycles in North America. Concerns about sustainability, along with a desire to reduce carbon emissions, have prompted consumers to investigate cleaner transportation options. Electric motorcycles provide environmentally beneficial solutions with zero carbon emissions.
The European motorcycle parts and accessories sector has seen a significant increase in demand for electric motorcycles. This is due to a mix of reasons such as stricter pollution standards, advancements in electric car technology, and more environmental awareness. As European countries focus on sustainability and decreasing carbon emissions, people are increasingly turning to electric motorcycles as an environmentally beneficial and effective method of transportation.
Yamaha Motor Company Ltd, Suzuki Motor Usa, LLC, RevZilla, Triumph Motorcycles, Kawasaki Heavy Industries, Ltd, Harley Davidson, Vega Auto Accessories Ltd, Studds Accessories Ltd, Motorsport Aftermarket Group, Indian Motorcycle International, LLC, Steelbird, YF Protector Co. Ltd, AltRider LLC, Cobra USA Inc., and Rizoma S.r.l. are the market's major players.