Motorcycle Wheels Market Outlook 2030 -
A motorcycle is a two-wheeler vehicle, which is driven by an internal combustion engine (ICE) and built with a durable metallic and fiber body frame, which is integrated with many mechanical and electronic components and the engine. One of the components is the wheel, which is made to cope with radial and axial forces. Motorcycle wheels also provide a platform for mounting other components, such as final drive, brakes, wiring, suspension, etc. Different types of motorcycle wheels are available there in the market, including steel wheels and aluminum alloy wheels etc. Among these, aluminum alloy wheels are anticipated to gain traction in the forecasting period.
COVID-19 Impact analysis
Global motorcycle wheels market has direct relationship with two-wheeler market as it is one of the most crucial part of the vehicle. Steep drop in the graph of automobile sale has impacted the market of raw material like rubber, aluminum etc. In addition, due to lockdown which led to decrease in income of the consumer has hindered the aftermarket expenses on the vehicle which is impacting the global market. Major players in the market have paid huge fixed expenses in the lockdown period. Manufacturers across the globe are facing slower movement in the supply chain due to decrease in demand. However, it is anticipated to recover in forecasting period with recovery from COVID-19.
Top Impacting Factors
- Increase in demand for motorcycles in rural areas is anticipated to act as a primary factor driving the growth of the motorcycle wheels market over the forecast period.
- However, increases the prices of motorcycles globally is anticipated to be a prominent factor that will hamper the growth of the motorcycle wheels market in the coming years.
- To avoid traffic congestion and get an open-air feel, tourists prefer motorcycles and scooters over four-wheelers as their chosen method of transportation, this will surge the demand and expected to act as an opportunity for the market over the forecast period.
Market Trends
Rising two wheelers globally
Rise in demand for two-wheeler globally is one of the major factors that drive the wheel market for two-wheeler. Moreover, demand for vehicles is increasing consistently, as Asia Pacific and North America are major players and consumers of two-wheeler globally. Disposable income and per capita income of people in these regions is increasing significantly, which in turn is driving sales of two-wheeler. China and India are among the leading countries globally, in parameters of sales and production of two-wheeler. Growing young population in the countries and having huge population share makes them one of the largest consumers in the world.
Popularity of eco-friendly vehicles
Constant rise in demand for electric and fuel-efficient vehicles is a major factor boosting the wheel market for motorcycle globally. Rise in prices of conventional fuel (Petrol, diesel etc.) and the depletion of fossil fuel resources are prompting customers to switch from conventional fuel driven two-wheeler to electric motorcycles. Conventional fuel powered motorcycles emit hazardous gases that are harmful for humans and the environment causing global warming. Number of companies are manufacturing electric vehicles which are light weight and easy to maintain. This is a key factor that is estimated to boost the wheel market for two-wheeler during the forecast period
Key benefits of the report:
- This study presents the analytical depiction of the motorcycle wheels market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of motorcycle wheels market.
- The current market is quantitatively analyzed to highlight the motorcycle wheels market growth scenario.
- The report provides a detailed motorcycle wheels market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the motorcycle wheels market research report:
- Which are the leading market players active in the motorcycle wheels market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the motorcycle wheels market?
- What are the projections for the future that would help in taking further strategic steps?
Motorcycle Wheels Market Report Highlights
| Aspects | Details |
 By Product Type |
|
 By Sales Channel |
|
 By Vehicle Type |
|
 By Region |
|
 Key Market Players | Autofit Private Limited, Wanxiang, Hennessy, Plombco, TOHO KOGYO, Central Wheel WEGMANN, Dymag Group Limited, Zhongnan Wheel, SMT, Shengshi Weiye |
Loading Table Of Content...
