Global sales of two wheeler components & consumables are set to be valued at over US$ 26.1 Bn in 2021, as per Future Market Insights (FMI). The market is poised to expand at over 7.8% CAGR due to the growing sales of two wheelers worldwide.
According to Future Market Insights, increasing adoption of two wheelers for personal use is setting the demand high for aftermarket components and consumables for two wheelers. Sales of two wheelers are increasing at a robust pace across developing countries such as India, Indonesia, Vietnam, and Brazil.
Coupled with this, the increasing demand for components and consumables for two wheelers in China, Japan, the U.S. and Germany will create lucrative growth opportunities for the market. As per the study, Asia Pacific will hold the largest share of 57.1%, followed by Europe with 21.8% through 2031.
Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-11733
The two wheeler components & consumables aftermarket observed slight decline in sales volume in 2020 due to the outbreak of COVID-19. Demand from major countries waned due to implementation of lockdown by governments, however, the generated demand was somehow fulfilled by the local suppliers who stockpiled before the pandemic.
Demand for two wheeler components & consumables has been increasing from standard motorcycles segment due to the growing popularity of standard bikes for personal use.
Key manufacturers are expected to invest heavily for market expansion and focus on research and development related to two-wheeler components and consumables to gain competitive edge.
Key Takeaways from Two Wheeler Components & Consumables Aftermarket Study
“Increasing adoption of two wheelers, especially across India, China, and Germany, has compelled the manufacturers to form strategic alliances with local distributors and independent dealers to strengthen their position in the industry. This will continue fuelling the demand in the market,” says a Future Market Insights analyst.
Who is Winning?
The two wheeler components & consumables aftermarket is highly fragmented. Key players will account for around 15-20% of the market share.
In order to gain competitive edge, these companies are likely to invest in new technological advances for the growth of their distribution networks.
Some of the key players in this industry include but are not limited to ZF Friedrichshafen AG, Holley Performance Products, Exide Technologies, Advance Auto Parts, Harley Davidson, Tenneco, Inc., FastBikeGear, 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 Licth AG, BMW Group, BITUBO S.r.l.
Download PDF Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-11733
Two Wheeler Components & Consumables Aftermarket by Category
By Two Wheeler Type:
By Product Type:
By Sales Channel:
By Region:
Pre-Book Report@ https://www.futuremarketinsights.com/checkout/11733
Key Points Covered in Two Wheeler Components & Consumables Aftermarket
Top Reports Related To Automotive Market Insights
Automotive Pump Market : The automotive pump market is expected to witness a significant growth in 2021, thanks to the implementation of various carbon emission norms across various countries. A study by Future Market Insights (FMI) on automotive pump market has forecast it to reach US$ 106.0 Mn by the end of 2031, growing at a CAGR of 6.1% over the forecast years (2021-2031).
Aircraft Cabin Interior Market : According to Future Market Insight’s (FMI), the global aircraft cabin interior market is forecast to grow at 2.70% in 2021, overcoming the uncertainty about market recovery and performance during a global pandemic. FMI also predicts that the aircraft cabin interior market will exceed the overall market valuation of US$ 14.5 Bn by the end of 2021.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact
Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/two-wheeler-aftermarket-components-market
Press Release Source: https://www.futuremarketinsights.com/press-release/two-wheeler-aftermarket-components-market
Overview and Scope Automated machine learning (AutoML) is the process of applying machine learning to…
Overview and Scope A money transfer service is a financial service that allows individuals and…
Overview and Scope An extended stay hotel is an accommodation establishment designed to cater to…
Overview and Scope Enterprise architecture tools refer to software applications designed to support the practice…
Overview and Scope Vegan protein powders refer to plant dietary supplements that support hormone and…
Overview and Scope The radio frequency (RF) front end refers to the section of a…