Two Wheeler Accessory Market

Two Wheeler Accessory Market Outlook (2024 to 2034)

The global two wheeler accessory market is set to reach a valuation of US$ 40.64 billion in 2024 and further expand at a CAGR of 5.1% to end up at US$ 66.83 billion by the year 2034.

The rising enhancement of the usefulness, safety, comfort, and aesthetics of two-wheelers, such as motorcycles and scooters, has led to a growing need for accessories for these vehicles. These accessories are extra parts or goods meant to enhance overall performance and provide users with a lot more functions; this is what is driving their popularity in the market. On top of that, improvements to ergonomics are included to improve rider ease of use, safety equipment, and vandalism prevention. Another benefit is that there are tools for communication among these accessories that let drivers stay connected to one another.

Customers' interest in two-wheeler accessories has increased with improvements in performance and personalization choices that let riders tailor vehicles to their tastes and preferences. Other than being aesthetically pleasing, these accessories provide clients with a multitude of solutions and enable them to personalize their two-wheelers to meet specific demands. These extras significantly improve the whole atmosphere of riding, whether they are used to increase safety, increase relaxation, add storage spaces, or modify the vehicle's look. Additionally, because two-wheelers are easier to maneuver through traffic and enable drivers to get to their destination faster than other vehicles, their use is growing. As a result, the need for two-wheeler accessories will rise gradually in tandem with the growth in two-wheeler revenues.

• After researching thoroughly the purchase pattern and liking of customers, manufacturers in the market have introduced a variety of products to meet their needs, a few of them include handle accessories, electrical and electronics, frames and fittings, protective gears, and exhaust accessories. Out of all these electrical and electronics segment is estimated to have good revenue by the end of 2034.
• Suppliers for many years have been using three major sales channels including online, authorized outlets, and independent outlets for providing motorbike accessories.
• The market in Mexico has shown good growth. The market valuation increased from US$ 973.5 million in 2019 to US$ 1.27 billion in 2024. thereby allowing the suppliers to establish and expand their business in the country.
• In East Asia, the market in South Korea was holding a share of 24% in 2019, this share is estimated to reach 24.5% in 2024.

Report Attribute	Detail
Two Wheeler Accessory Market Size (2024E)	US$ 40.64 Billion
Forecasted Market Value (2034F)	US$ 66.83 Billion
Global Market Growth Rate (2024 to 2034)	5.1% CAGR
Japan Market Value (2034F)	US$ 3.77 Billion
North America Market Growth Rate (2024 to 2034)	3.7% CAGR
Handle Accessories Segment Value (2034F)	US$ 12.23 Billion
United States Market Value (2034F)	US$ 13.93 Billion
Key Companies Profiled	TVS Motor Company; Dainese SpA; Akrapovic; Helmet; Hero Motocop Ltd; Yamaha Motor Company Ltd; Caberg SpA; Harley Davidson; AGV Sports Group; YF Protector; OM Steel Industries; Foshan Xinmatuo Motorcycle Parts; Omax Auto; Studd Accessories; SteelBird Hi-Tech; OSRAM Licht.

Which Components are Accelerating the Two Wheeler Accessory Market Growth?

“Rising Trend of Motorcycle Tourism Generating Lucrative Opportunities for Related Accessory Providers”

The industry is being favorably impacted by the increasing proportion of motorcycle owners, which is encouraging consumers to make investments and check out motorcycle accessories to improve the overall look and functionality of their bikes. With individuals driving more miles than in the past, manufacturers have also included GPS features and mapping, enabling drivers to discover and visit new locations stress-free.

Businesses that supply goods are additionally increasingly utilizing promotional techniques for advertising their smart helmets, which greatly improve protection and let motorists know if an element is wrong with their car or alert them to an issue, thereby making these automobiles safer. Due to their timeless qualities, two-wheeler accessories are becoming more and more popular among more customers for these characteristics.

“Smart Connectivity Features Enticing Customers to Invest in Two Wheelers Accessories”

Smart connectivity capabilities enable motorists to establish connections with their cars via Bluetooth and Wi-Fi. Bluetooth-enabled helmet intercoms and smartphone incorporation, which enable hands-free listening to music and phone calls to anybody while biking eliminating the requirement to pick up the phone, are a couple of the significant innovations in these fields. To ensure driver safety during unexpected pauses, automakers are also releasing new security gear like rearview cameras, airbags in riding jackets, and cutting-edge brake systems.

Electric bikes are the icing on the cake in terms of technical improvements since they prioritize cost savings and promote an environment-friendly way of life by avoiding excessive fuel bills. To meet the specific needs of owners of electric cars, several companies are creating a variety of attachments for them, the most common of which are charging stations, portable battery packs, and customized riding gear. The marketplace for two-wheeler accessories is growing because of these recent changes, leading to an increasing two wheeler accessory market size.

What is Pushing Back the Global Market Growth?

“High-Cost Associated With Availability of Counterfeit Products”

When it comes to two-wheeler accessories, they are not mass-produced and are customized for every customer differently. This is becoming a significant expense, which people will be thinking about before doing, thereby hampering the market opportunities as price-conscious customers will not be willing to pay such a hefty amount and will probably try to find cheaper alternatives. Apart from that technological advancements are going on every moment, which is creating pressure on suppliers to be always ahead and look for more technical areas where they can do better than their competitors, subsequently leading to an intense war in the business landscape.

Country-wise Evaluation

Countries around the world are facing traffic issues and this has led to an increase in the popularity of two-wheelers as they are more easy to use in traffic and allows drivers to complete their journey. A few of the major countries contributing to this market include the United States, China, Canada, and South Korea. Among all these, the United States is forecasted to hold a significant two wheeler accessory market share.

What is Escalating the Revenue Share of the Market in the United States for Two Wheeler Accessories?

“Tradition of Road Trips Among Young Generation Arising the Interest in Owning a Motorcycle”

Attribute	United States
Market Value (2024E)	US$ 10.13 Billion
Growth Rate (2024 to 2034)	3.2% CAGR
Projected Value (2034F)	US$ 13.93 Billion

Blue Ridge Parkway and US Route 66 are among the most famous locations for bike lovers and as young people love to have adventure, these places are going to be a dream come true for them. More young people want to explore and try something new aside from corporate jobs. Thereby, the sales of two-wheelers are increasing as the young generation wants to have a road trip in these places and explore their inner peace. The infrastructure in the country is world-class, which is another factor for people to love road trips on two-wheelers as they have a calm and relaxing ride without worrying about too much traffic, and because of highly advanced accessories, resulting in ensured safety for drivers.

What is Becoming a Major Reason for Growing Sales of Two Wheeler Accessories in China?

“An Established Aftermarket Allowing Customers to Find Cost Efficient Two Wheeler Accessories”

Attribute	China
Market Value (2024E)	US$ 3.88 Billion
Growth Rate (2024 to 2034)	5.5% CAGR
Projected Value (2034F)	US$ 6.62 Billion

For many years china has established its reputation as one of the prominent exporters in East Asia. The country has almost all the goods available at a cheap cost, which makes it a very profitable market for customers to find pocket-friendly products. Two-wheeler accessories are quite expensive and sometimes limit their affordability from branded companies so the China market is best for such customers to get all those features at a much lower price, thereby creating opportunities for market players.

Category-wise Evaluation

A variety of products are available in the market for bringing more customization and unique features to entice all types of customers. Handle accessories, seat covers, security systems, protective gear, and exhaust accessories are popular options among customers. Suppliers in the market are bringing other technical features such as GPS and others to stimulate more popularity among customers.

Which Sales Channel is Wide Used by Suppliers in the Market to Increase Sales?

“Authorized Outlets are Kingpins for Supplying Two Wheeler Accessories”

Attribute	Authorized Outlets
Segment Value (2024E)	US$ 17.68 Billion
Growth Rate (2024 to 2034)	4.7% CAGR
Projected Value (2034F)	US$ 28.07 Billion

Suppliers in the two-wheeler accessory market widely use authorized outlets as a major sales channel to increase sales. These authorized outlets play a pivotal role in catering to the diverse needs of customers by offering a wide range of two-wheeler accessories.

Customers often prefer these authorized outlets due to their reliability, guarantee of genuine products, and after-sales support. The strong presence of authorized outlets in several regions enhances the accessibility of two-wheeler accessories to a larger customer base, ultimately positively impacting the two wheeler accessory market trends.

Which Two Wheeler Accessories are Becoming Popular and Enticing Among More Customers?

“Surging Popularity of Electrical and Electronic Accessories Compared to Other Options”

Attribute	Electrical & Electronics
Segment Value (2024E)	US$ 7.88 Billion
Growth Rate (2024 to 2034)	4% CAGR
Projected Value (2034F)	US$ 11.69 Billion

Electrical and electronic accessories for two-wheelers are gaining immense popularity among customers, enticing them to invest in these products more compared to other accessories. These accessories contribute significantly to enhancing the functionality, safety, and overall riding experience of two-wheelers.

The rising demand for electrical and electronic accessories is attributed to the growing preference for technologically advanced features such as smart connectivity, GPS navigation, Bluetooth-enabled communication devices, and innovative safety systems. The convenience, versatility, and added utility offered by these accessories are driving more customers to embrace and invest in electrical and electronic components for their two-wheelers.

Competitive Landscape

Key players in the two wheeler accessory market are focusing on introducing new products to stay ahead of the competition, a few of the products include handlebar control switches and electric two-wheel accessories.

• Tech-Air 3, Tech-Air 10, and Tech-Air Off-Road V2 are the names of a new range of tech-air airbag systems that Alpinestars unveiled in 2022. Adaptable to all weather situations, the Tech-Air 3 system is designed as an over-jacket airbag for regular road cyclists and commuters.
• TVS Motor Company announced on December 20, 2021, the incorporation of what3words, a cutting-edge location technology, into TVS Connect, its consumer app.

Fact.MR provides detailed information about the price points of key manufacturers of two wheeler accessories positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of Two Wheeler Accessory Market Research

• By Product Type :

  • Handle Accessories
  • Electrical & Electronics
  • Frames & Fittings
  • Protective Gears
  • Bags & Carriage Frames
  • Exhaust Accessories
  • Seat Covers
  • Security Systems

• By Two Wheeler Type :

  • Standard Bikes
  • Cruiser Bikes
  • Sports
  • Mopeds/Scooters

• By Sales Channel :

  • Online
  • Authorized Outlets
  • Independent Outlets

• By Region :

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