The evolving coronavirus (COVID-19) has disrupted the supply chains of companies in the motorcycle accessories market. Through a careful analysis of the COVID-19, our analysts at Fact.MR offer you an overview of the current developments of leading companies in the motorcycle accessories market. Learn how leading companies are entering into potential partnership agreements to generate revenue in the Motorcycle Accessories market.
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The evolving culture of the motorcycle industry, along with riders’ interest in creating their unique identities, has spearheaded the modification trend with increased demand for aftermarket motorcycle accessories. The modifications to motorcycles range from moderate to extreme, with typical modifications to frames and fittings, electrics and electronics as well as handle accessories.
The motorcycle accessories market will have an above average volume of 4.6% CAGR. record
in the forecast period 2018 to 2026, according to a recently published Fact.MR report. The proliferation of aftermarket products is seen as a boon to the growth of the motorcycle accessory market for manufacturers, suppliers and owners alike, despite the resulting complexity.
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Global Motorcycle Accessories Market Segmentation and Forecast
The global motorcycle accessories market is segmented by product type, motorcycle type, sales channel, and region.
On the basis of the product type, the Global Motorcycle Accessories Market is segmented into:
- Handle accessories
- Frames & fittings
- electric
- protective gear
- Bags & Carriage Racks
- Seat covers and security systems.
Based on the motorcycle type, the market is divided into
- Conventional
- cruiser
- Sports
- Sports
- Offroad.
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Sales of motorcycle accessories for conventional motorcycles will exceed 400,000 thousand units in 2018. This number will continue to be significantly higher than sales of cruiser, sports and off-road motorcycles combined.
Female riders support change in the motorcycle industry and thereby increase the demand for motorcycle accessories
Female riders are transforming the motorcycle industry and the number of female riders is increasing despite the decline in traditional motorcycle brands. In the US alone, 8.4 million motorcycle registrations joined in 2017, and according to the Motorcycle Industry Council, many of the registrations were owned by women. The rise in female riders has paved lucrative avenues for motorcycle accessory market players in terms of design and innovation.
India aims to overtake China in motorcycle accessories market by 1% difference in CAGR by 2026. Growth in India will be largely driven by the availability of facilitated vehicle financing options and the advance of fuel efficient motorcycles. The gradual decline in motorcycle sales in China amid restrictions on gasoline-powered motorcycles has resulted in the country being shifted from its predominant dominance to second place, after India. According to the study, however, the difference between the sales shares of India and China will remain insignificant.
Read more trend and similar reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/02/19/1734278/0/en/Marine-Seats-Manufacturers-Reliance-on-Plastic-Continues-Despite-Growing-Environmental-Concerns- Finding-Facts-MR-Study.html
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