Motorcycle Accessory Market

Motorcycle Accessory Market Outlook (2024 to 2034)

Worldwide revenue from the motorcycle accessories market size is poised to reach US$ 8.81 billion in 2024. The market has been projected to expand at a CAGR of 3.6% and reach a valuation of US$ 21.05 billion by the end of 2034. This market is experiencing a dynamic shift as the number of motorcycle enthusiasts is growing and driving demand for various types of bike accessories.

Focus of manufacturers of motorcycle accessories is on personalization and performance enhancement, reflecting the rider's personality and riding style. Technological advancements are at the forefront with innovative products such as smart helmets, advanced communication systems, and GPS navigation becoming increasingly popular. These high-tech accessories are not only about adding convenience but also about integrating safety into the riding experience.

Trend toward motorcycle tourism and the rise in motorcycle events and shows are fueling motorcycle accessory market growth, as riders seek to enhance their motorcycles for long-distance travel and showcase them at events. The market faces challenges such as economic fluctuations that can influence consumer spending patterns, especially on discretionary items such as motorcycle accessories.

Report Attribute	Detail
Motorcycle Accessory Market Size (2024E)	US$ 8.81 Billion
Projected Market Value (2034F)	US$ 21.05 Billion
Global Market Growth Rate (2024 to 2034)	3.6% CAGR
China Market Value (2034F)	US$ 2.85 Billion
Canada Market Growth Rate (2024 to 2034)	8.1% CAGR
North America Market Share (2024E)	25.8%
East Asia Market Value (2034F)	US$ 6.02 Billion
Key Companies Profiled	TVS Motor Company; Yamaha Motor Company Ltd.; Hero Motocorp Ltd.; Vega Helmet United States; KIDO; Akrapovic; Caberg S.p.a.; Dainese S.p.A.

What Role is Shifting Consumer Preferences Playing in the Motorcycle Accessory Business?

“Growth of Motorcycle Tourism and Emphasis on Rider Comfort and Customization”

Expansion of the market is being positively influenced by the increase in motorcycle ownership, as more motorcyclists tend to invest in accessories to personalize and enhance the performance of their bikes. Technological innovations such as advanced communication systems, GPS navigation, and smart helmets are also strengthening the market outlook. The rise of motorcycle tourism and events along with an increased focus on rider comfort are other contributing factors.

Integration of smartphone applications and connectivity features is adding to the appeal of modern motorcycle accessories. The proliferation of e-commerce and online retail platforms also offers lucrative opportunities to vendors in the global market. The rising appeal of motorsports and the increased desire for luxury travel and custom motorcycles are driving the market.

What are the Major Challenges Faced by Market Players?

“Shortage of Spare Parts Due to Low Production Volumes and High Development Costs”

Motorcycle accessory manufacturers face fluctuations in raw material prices. Cost of materials such as metals, plastics, and textiles used in the production of motorcycle accessories can vary significantly, which consequently impacts the cost of production and, ultimately, the retail price of the products.

The industry also faces manufacturing and distribution challenges, which can hinder growth. The inability to find replacement parts from original equipment manufacturers (OEMs), the lack of aftermarket items for many model-specific motorcycles, and the shortage of spare parts due to low production volumes and high development costs are other obstacles. Manufacturers need to comply with various safety standards and regulations, which can be challenging and costly. Non-compliance can lead to penalties and damage to the brand's reputation.

Country-wise Insights

Fact.MR, a market research and competitive intelligence provider, through its updated report analysis, asserts that North America is projected to hold 25.4% of the global market share by 2034. Manufacturers of motorcycle accessories are focusing on broadening their presence to various regions, including Southeast Asia, Central and South America, Eastern Europe, Western Europe, and Australia, to retain their position in the market.

What are the Growth Prospects for Manufacturers of Bike Accessories in the United States?

“Large Community of Motorcycle Enthusiasts and Rise of Motorcycle Tourism and Events”

Attribute	United States
Market Value (2024E)	US$ 1.73 Million
Growth Rate (2024 to 2034)	9.1% CAGR
Projected Value (2034F)	US$ 4.13 Billion

In the United States, a robust community of motorcycle enthusiasts and a culture that celebrates the freedom and individuality associated with riding are key motorcycle accessory market trends. The market is witnessing a demand for accessories that not only enhance the functionality and safety of motorcycles but also allow riders to express their unique style. Technological innovations are playing a crucial role with accessories becoming more sophisticated by incorporating connectivity and smart features that cater to the modern rider's needs.

Rise of motorcycle tourism and events has also contributed to this upward trend, as riders seek to equip their bikes for long-distance travel and social gatherings. The market is adapting to the evolving landscape of urban mobility and environmental consciousness with a focus on accessories that complement these shifts. Despite potential economic headwinds, the market prospects remain optimistic as it continues to evolve with the changing preferences and lifestyles of American riders.

How are Businesses in China Boosting Motorcycle Accessory Sales?

“Focus on Expanding Vendor Network and User Experience Optimization on e-Commerce Platforms”

Attribute	China
Market Value (2024E)	US$ 960.4 Million
Growth Rate (2024 to 2034)	11.5% CAGR
Projected Value (2034F)	US$ 2.85 Billion

To boost motorcycle accessory sales in China, businesses are focusing on enhancing the user experience on e-commerce platforms as a seamless online shopping experience can significantly attract and retain customers. Expanding the vendor network is another strategic move that can increase product variety and cater to diverse consumer preferences. Implementing targeted marketing campaigns can effectively reach potential customers, especially when these campaigns are tailored to the unique aspects of the China market.

Offering competitive pricing and attractive discounts can draw in price-sensitive customers, while enhancing customer service can improve satisfaction and loyalty leading to repeat business. Increasing visibility through search engine optimization (SEO) tactics can help businesses rank higher in search results, making it easier for customers to find their products.

Category-wise Insights

Bags & carriage frames are poised to account for a leading motorcycle accessory market share of 14.8% in 2024.

Why Do Bags & Carriage Frames Account for High Demand?

“Role of Bags and Carriage Frames in Enhancing Functionality & Rider Convenience”

Attribute	Bags & Carriage Frames
Segment Value (2024E)	US$ 1.3 Billion
Growth Rate (2024 to 2034)	8% CAGR
Projected Value (2034F)	US$ 2.82 Billion

Bags and carriage frames are in increased demand in the market due to their critical role in enhancing functionality and convenience for riders. These accessories cater to the increasing trend of motorcycle touring and long-distance travel where the need for additional storage is paramount. Riders look for durable and secure options to carry personal items, tools, and other essentials, making bags and carriage frames indispensable. The desire for customization and personal expression also drives the demand, as these accessories offer an opportunity for riders to tailor their motorcycles to their specific needs and aesthetic preferences.

The market has responded with a variety of designs and features such as waterproof materials, quick-release systems, and integrated locks, which add to the utility and appeal of these accessories. As motorcycles continue to serve not just as a means of transportation but also as a lifestyle choice, the demand for bags and carriage frames is expected to remain strong, reflecting the riders' pursuit of practicality and style.

Why are Sales of Accessories for Mopeds on the Rise in Urban Environments?

“Fuel Efficiency, Maneuverability, and Lower Maintenance Costs Associated with Mopeds”

Attribute	Mopeds
Segment Value (2024E)	US$ 1.19 Billion
Growth Rate (2024 to 2034)	8.3% CAGR
Projected Value (2034F)	US$ 2.65 Billion

Mopeds are increasingly becoming a significant segment of the market due to the practicality and efficiency that mopeds offer, especially in urban environments where traffic congestion and parking limitations are common concerns. They are favored for their fuel efficiency, ease of maneuverability, and lower maintenance costs. As a result, there is a growing demand for accessories that enhance the functionality and aesthetic appeal of mopeds.

From custom storage solutions to personalized protective gear, the range of accessories available for mopeds is expanding. The rise in electric mopeds has opened up new opportunities for accessory manufacturers to develop products tailored to the needs of eco-conscious consumers. This includes high-performance batteries, charging equipment, and smart technology integrations. The moped's position in the market is further solidified by its popularity among delivery services and ride-sharing platforms which require robust and reliable accessories to ensure operational efficiency and rider safety.

Competitive Landscape

Key players in the motorcycle accessory market are intensely engaging in various strategies such as new product launches, expansions, mergers & acquisitions, partnerships, agreements, and joint ventures to gain a competitive edge on a global scale.

• In 2022, Alpinestars introduced a new line of tech-air airbag systems, named Tech-Air 3, Tech-Air 10, and Tech-Air Off-Road V2. The Tech-Air 3 system is designed as an over-jacket airbag for everyday road riders and commuters, adaptable to all weather conditions.
  • The Tech-Air 10 system is tailored to provide comprehensive body protection for road and track riders, as well as racers, covering critical areas such as the back, chest, shoulders, and hips. For off-road enthusiasts, the Tech-Air Off-Road V2 system offers specialized protection for the challenges of off-road racing.

Fact.MR provides detailed information about the price points of key producers of motorcycle accessories positioned across the world, sales growth, and speculative technological expansion, in this updated market report.

Key Segments of Motorcycle Accessory Market Research

• By Product Type :

  • Handles Accessories
  • Frames & Fittings
  • Electrical & Electronics
  • Protective Gear
  • Bags & Carriage Frames
  • Seat Covers & Security Systems

• By Motorcycle Type :

  • Conventional
  • Cruiser
  • Sports
  • Off-Road

• By Sales Channel :

  • Specialized Outlets
  • Independent Outlets
  • Online

• By Region :

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa