Two Wheeler Accessories Market Size, Share, Growth, and Industry Analysis, By Type (Fittings, Lights, Battery, and Others), By Application (OEM and Aftermarket), and Regional Forecast By 2031

Updated On: 29 April 2024

Two Wheeler Accessories Market Report Overview

• 
• Request a Free sample to learn more about this report

The global two wheeler accessories market size was 10.50 billion in 2020. As per our research, the market is expected to reach USD 15328.8 million by 2031, exhibiting a CAGR of 4.3% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with two wheeler accessories experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Two-wheeler accessories are additional products or components designed to enhance the functionality, safety, comfort, and aesthetics of motorcycles and scooters. Ergonomic upgrades aim to enhance rider comfort, security systems offer theft prevention, and communication devices promote connectivity between riders. Performance upgrades and customization options allow riders to personalize their two-wheelers according to their preferences and style.

These accessories cater to a wide range of needs and preferences, allowing riders to customize their two-wheelers to suit their requirements. Whether it's enhancing safety, improving comfort, adding storage capabilities, or customizing the appearance, two-wheeler accessories play a vital role in enhancing the overall riding experience. From protective gear to performance enhancements, these accessories provide riders with the tools to make their rides safer, more enjoyable, and tailored to their individual preferences.

COVID-19 IMPACT: Increased Personal Transportation to Boost Demand Significantly

COVID-19 had a life changing impact globally. The two wheeler accessories market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for two wheeler accessories experienced an increased demand.

The global pandemic disrupted supply chains and manufacturing operations, impacting the availability and delivery of two-wheeler accessories. Restrictions, lockdowns, and reduced production capacities in various regions led to delays in production, transportation, and delivery of these accessories, causing supply shortages and logistical challenges.

The pandemic led to a surge in demand for personal transportation, including motorcycles and scooters, as people sought alternatives to public transportation. This increased demand also extended to two-wheeler accessories, as riders looked for safety gear, luggage systems, and other accessories to enhance their riding experience. The pandemic highlighted the importance of safety measures, including protective gear and equipment. This increased emphasis on safety likely resulted in a higher demand for helmets, riding gear, and other safety-related accessories. The market is anticipated to boost the two wheeler accessories market share following the pandemic.

LATEST TRENDS

"Smart Connectivity to Broaden Market Growth"

Two-wheeler accessories are increasingly incorporating smart connectivity features. These include Bluetooth-enabled helmet intercoms, GPS navigation systems, and smartphone integration for hands-free calling and music streaming. Such connectivity enhances the riding experience and convenience for riders. Manufacturers are incorporating advanced safety technologies into two-wheeler accessories. This includes the integration of features such as built-in airbags in riding jackets, smart helmets with communication systems and rearview cameras, and innovative braking systems to enhance rider safety.

With the growing popularity of electric motorcycles and scooters, there is a focus on developing accessories tailored specifically for electric two-wheelers. These accessories may include charging stations, portable battery packs, and specialized riding gear to cater to the unique requirements of electric vehicle riders. These latest developments are anticipated to boost the two wheeler accessories market share.

Two Wheeler Accessories Market Segmentation

• 
• Request a Free sample to learn more about this report

By Type

Based on type, the market is divided into fittings, lights, battery, and others.

Fittings holds a major share of the global market.

By Application

Based on application, the market is bifurcated into OEM and Aftermarket.

OEM as application holds a major share of the global market.

DRIVING FACTORS

"Comfort & Convenience to Boost Market Share"

Two-wheeler accessories that offer increased comfort and convenience are sought after by riders. Ergonomically designed seats, backrests, handlebar risers, windshields, and heated grips are accessories that enhance rider comfort during long rides or adverse weather conditions. Two-wheeler enthusiasts often seek accessories that allow them to customize their bikes and reflect their personal style. Custom decals, graphics, aftermarket exhausts, handlebar grips, and alloy wheels are popular accessories that enable riders to add a unique touch to their motorcycles.

"Safety & Connectivity to Boost Market Size"

Safety is a primary concern for riders, and accessories that enhance safety and protection are in high demand. Helmets, riding gear, armored jackets, gloves, and knee guards are examples of accessories that provide crucial protection to riders in case of accidents or falls. The integration of technology and connectivity features is driving the demand for accessories in the industry. Bluetooth-enabled helmet intercoms, GPS navigation systems, smartphone mounts, and wireless communication systems provide riders with enhanced connectivity, entertainment, and navigation options. These factors are anticipated to drive the two wheeler accessories market share.

RESTRAINING FACTORS

"Economic Challenges to Hamper Market Share"

Economic downturns, recessions, or fluctuations in disposable income can impact the purchasing power of consumers. During periods of financial instability, consumers may prioritize essential needs over discretionary purchases, which can lead to a decline in the demand for non-essential accessories. Price sensitivity among consumers can limit their willingness to spend on expensive two-wheeler accessories. High price points may deter potential customers, especially if they perceive the accessories as non-essential or if they have alternative, more affordable options available. The factors are anticipated to hinder the growth of the two wheeler accessories market share.

Two Wheeler Accessories Market Regional Insights

• 
• Request a Free sample to learn more about this report

"Asia-Pacific Dominates the Two Wheeler Accessories Market "

APAC is the major shareholder for the two wheeler accessories market share. his is primarily due to the high volume of two-wheeler sales in these regions. Motorcycles and scooters are widely used as affordable and efficient means of transportation, leading to a large consumer base for two-wheeler accessories. Additionally, the growing middle class, urbanization, and favorable government initiatives in these regions have further fueled the demand for motorcycles and associated accessories. North America is the second major shareholder for the two wheeler accessories market share.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• TVS Motor [India]
• AGV Sports Group [U.S.]
• GIVISrl [Italy]
• Steelbird Hi-Tech [India]
• YF Protector [China]
• Yamaha Motor [Japan]
• Hero Motocorp [India]
• Harley-Davidson [U.S.]
• Omax Auto [India]
• Studds Accessories [India]
• OM Steel Industries [India]
• OSRAM Licht [Germany]
• Foshan Xinmatuo Motorcycle Parts [China]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.