Two Wheeler Accessories

Two Wheeler Accessories

Global Two Wheeler Accessories Market to Reach US$18.2 Billion by 2030

The global market for Two Wheeler Accessories estimated at US$12.1 Billion in the year 2023, is expected to reach US$18.2 Billion by 2030, growing at a CAGR of 6.1% over the analysis period 2023-2030. Protective Gears, one of the segments analyzed in the report, is expected to record a 6.5% CAGR and reach US$10.5 Billion by the end of the analysis period. Growth in the Fittings / Lights segment is estimated at 6.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$3.2 Billion While China is Forecast to Grow at 9.7% CAGR

The Two Wheeler Accessories market in the U.S. is estimated at US$3.2 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.2 Billion by the year 2030 trailing a CAGR of 9.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.2% and 4.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR.

Global Two Wheeler Accessories Market - Key Trends & Drivers Summarized>Why Are Two Wheeler Accessories Important for Riders?

Two wheeler accessories are essential for enhancing the safety, comfort, and functionality of motorcycles and scooters. These accessories range from protective gear like helmets, gloves, and jackets to practical additions such as luggage carriers, phone mounts, and GPS systems. They also include performance-enhancing components like exhaust systems, suspension kits, and lighting upgrades. For riders, accessories are crucial not only for personal safety and convenience but also for customizing their vehicles to meet specific needs and preferences. The increasing focus on road safety and the growing culture of biking as a lifestyle contribute to the rising importance of two wheeler accessories.

What Technological Innovations Are Shaping Two Wheeler Accessories?

Technological advancements have significantly impacted the development and functionality of two wheeler accessories. Innovations in materials science have led to the production of lighter, stronger, and more durable protective gear. Smart helmets equipped with Bluetooth connectivity, built-in cameras, and heads-up displays enhance rider safety and convenience. Advanced suspension systems and performance parts improve ride quality and handling. The integration of GPS and IoT technologies in navigation systems and anti-theft devices offers enhanced security and functionality. Furthermore, advancements in LED and laser lighting provide better visibility and aesthetics, contributing to safer night riding. These innovations are transforming two wheeler accessories into sophisticated and multifunctional components.

Why Is There an Increasing Demand Across Various Markets?

The demand for two wheeler accessories is increasing across various markets due to several factors. In developed markets, the emphasis on safety and performance drives the adoption of advanced protective gear and performance-enhancing accessories. The growing popularity of motorcycle touring and adventure riding boosts the demand for luggage systems, navigation aids, and comfort accessories. In emerging markets, the rising disposable incomes and the increasing use of motorcycles and scooters as primary transportation modes fuel the demand for practical and safety-oriented accessories. Additionally, the trend towards personalization and customization of vehicles enhances the demand for aesthetic and functional accessories. The increasing awareness of road safety and the implementation of stricter safety regulations also drive the market growth.

What Are the Key Growth Drivers in the Two Wheeler Accessories Market?

The growth in the two wheeler accessories market is driven by several factors. The increasing focus on rider safety and the implementation of stringent safety regulations are major drivers. The rising disposable incomes and the growing culture of biking as a lifestyle contribute to market expansion. Technological advancements that enhance the functionality, safety, and aesthetics of accessories also boost demand. The growing popularity of motorcycle touring and adventure riding drives the need for specialized accessories. Additionally, the trend towards customization and personalization of two wheelers encourages the adoption of various aesthetic and performance-enhancing accessories. The expansion of the two wheeler market, particularly in emerging economies, further propels the demand for accessories.

Select Competitors (Total 46 Featured) -

• GIVI Srl
• Harley-Davidson, Inc.
• Hero MotoCorp Ltd.
• OM Steel Industries
• Omax Autos Ltd.
• Orion Motors India
• Osram Licht AG
• Steelbird Hi-Tech India Ltd. (SBHT)
• Studds Accessories Ltd.
• TVS Motor Co., Ltd.
• Vega Auto Accessories Pvt., Ltd.
• Yamaha Motor Co., Ltd.
• YF Protector Co. Ltd.

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