The global two-wheelers components and consumables market is expected to grow at a CAGR of over 8.0% over the forecast period of 2023-2028. Increasing demand for two-wheelers is one of the primary drivers for market expansion. As the demand for two-wheelers continues to grow, the demand for two-wheeler components also increases. This is because components are needed to manufacture and maintain these vehicles.
Moreover, the two-wheeler market is expected to grow due to factors such as increasing urbanization, rising disposable incomes, and improved infrastructure. This growth will lead to an increase in demand for components.
Furthermore, technological advancements, government regulations, and increasing competition are some other factors that are pushing global market growth. Advancements in technology have led to the development of new and better components that are more efficient and reliable. Consumers are increasingly demanding components that are technologically advanced and provide better performance. Governments around the world are implementing regulations aimed at reducing emissions and increasing fuel efficiency.
This has led to the development of new components that are more fuel-efficient and environmentally friendly. Additionally, as the two-wheeler market becomes more competitive, manufacturers are focusing on developing high-quality components that provide better performance and are more reliable. This competition is driving innovation and improving the quality of components.
Asia Pacific led the global market
Geographically, the global two-wheelers components and consumables market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific led the global market on the back of high two-wheelers sales in countries like India, Indonesia, and China in 2022. The increasing demand for electric two-wheelers is also driving the growth of the component market in the region. Moreover, Europe is a significant market for two-wheelers, particularly in countries like Italy, Spain, and France.
The region has strict regulations regarding emissions, which have led to the development of components that are more fuel-efficient and environmentally friendly. The growing popularity of electric two-wheelers is also driving the growth of the component market in this region.
Market Structure and Competition Landscape
The global two-wheelers components and consumables market is highly fragmented in nature. Some of the prominent players operating in the market include ZF Friedrichshafen AG, Showa Corp., Hero Motocorp Ltd., KYB Corp., Bajaj Auto, Gabriel India Ltd., TVS Motor Co., Yamaha Motor Company Ltd., Hella KGaA Hueck & Co., OSRAM Licht AG, BMW Group, Foshan Xinmatuo Motorcycle Parts Industrial Company, BITUBO S.r.l., MRF, Castrol Ltd.
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players.
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Market Scope and Report Overview
As per the deep-dive market assessment by RationalStat, the global two-wheelers components and consumables market has been analyzed on the basis of key market segments and geography/regions including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific. The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2028.
Market intelligence for the two-wheelers components and consumables market covers market sizes on the basis of market value (US$/EUR Million) and volume (‘000 units/tons/liters) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year analysis and its implications on the sector. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
Period Covered include data for 2019-2028 along with year-wise demand estimations
The two-wheelers components and consumables market report analyze the market on the basis of global economic situations, regional geopolitics, import-export scenarios, trade duties, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity addition, technological advancements, R&D investments, and new market entry, replacement rates, penetration rates, installed base/fleet size, global and regional production capacity, among others.
RationalStat offers market analysis and consulting studies on the basis of dedicated and robust desk/secondary research supported by a strong in-house data repository. In addition, the research leverages data based on the real-time insights gathered from primary interviews. Market estimations and insights are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.
The global two-wheelers components and consumables market report also cover value chain and supply chain analysis that provides in-depth information about the value chain margins and the role of various stakeholders across the value chain. Market dynamics provided in the market study include market drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period. In the competition analysis section, the global two-wheelers components and consumables market provide a detailed competition benchmarking analysis on the basis of market share of the leading companies/brands/producers/suppliers, market structure overview with detailed company profiles of more than 25 players with their financials, product/service offerings, major developments, business models, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.
Key Market Segmentation
RationalStat has segmented the global two-wheelers components and consumables market based on two-wheelers type, product type, sales channel, and region.
- By Two-Wheelers Type
- Standard Motorcycle
- Cruiser Motorcycle
- Sports Motorcycle
- Standard Motorcycle
- Others (Maxi Motorcycles, etc.)
- By Product Type
- Engine Components
- Drive, Transmission & Steering
- Suspension & Braking
- Cooling Systems
- Rubber Components
- Consumables and Misc.
- Engine Oil
- Washing Shampoo
- Cleaning Polish
- By Sales Channel
- Authorized Dealers
- Independent Dealers
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
- RationalStat utilizes surveys, questionnaires, focus groups, and one-to-one interviews with CXOs, industry partners, trade bodies, association members, ex-employees, and industry professionals to collect insights and quantitative/qualitative data specific to client needs. RationalStat quickly gets to the ‘why’ behind the ‘what’ demonstrated by secondary data.
- RationalStat takes a unique approach to arrive at market conclusions and actionable insights for clients.
- We have the technology and strong in-house resource pool with extensive experience in the global and regional markets, across a wide variety of categories and stakeholders.
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- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
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The report is intended for global and regional manufacturers, producers, and suppliers, third-party distributors, dealers, exporters & importers, government organizations, educational organizations, the healthcare sector, regulatory agencies, end user industry, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.