Two Wheeler Handlebars Market: Introduction
Two wheeler handlebars are a part of the steering mechanism. These are rods that facilitate the driver in steering a vehicle/two wheeler. Handlebars are available in different sizes, shapes, and designs. Many accessories are integrated on handlebars such as light switch modules, break, clutch, and mirrors. Nowadays, manufacturers are focusing on manufacturing lightweight and corrosion-resistant handlebars in order to improve steering stability as well as the performance of the vehicle/two wheeler. Two wheeler manufacturers are integrating handlebars on their vehicle that provide riding comfort to the rider.
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Two Wheeler Handlebars Market: Market Dynamics
Owing to the increasing disposable income of the population in rural area and lack of a well-established public transport system, the demand for motorcycles and scooters has considerably increased in rural areas. This is one of the key drivers for the growth of the two wheeler handlebars market. Moreover, the road infrastructure of rural areas is still in its primitive stage as compared to urban areas. This, coupled with the lack of a proper transportation system, has led to the growth of the conventional motorcycles and scooters market. To fulfill the need for mobility in rural areas, and overcome the high selling price and tax rates of four wheelers, consumers are looking for conventional motorcycles and scooters, thereby increasing their demand and subsequently aiding the growth of the accessories market, which, in turn, boosts the growth of the two wheeler handlebars market. Furthermore, in the financial year 2017, rural areas accounted for approximately 38% of the two-wheeler population in India, where the sales of two wheelers is the highest in the world.
Regions such as North America and Europe have less number of two-wheeler manufacturers, which makes them highly dependent on the import of conventional motorcycles and scooters. This, in turn, increases the price of motorcycles and scooters, and might considerably hamper the growth of the two wheeler handlebars market in the upcoming years.
Two Wheeler Handlebars Market: Segmentation
The two wheeler handlebars market can be segmented by type of two wheeler, material type, distribution channel, and sales channel:-
On the basis of type of two wheeler, the two wheeler handlebarsmarket can be further segmented into:-
On the basis of material type, the two wheeler handlebarsmarket can be further segmented into:-
On the basis of distribution channel, the two wheeler handlebarsmarket can be further segmented into:-
On the basis of sales channel, the two wheeler handlebarsmarket can be further segmented into:-
- Original Equipment Manufacturers (OEMs)
Two Wheeler Handlebars Market: Regional Overview
The two wheeler handlebars market is correlated with the two wheeler market on a global level. On the basis of regional segmentation, India and China are the dominating markets, and these regions are anticipated to hold more than 50% share in the market, owning to the high demand for two wheelers from these countries.The increase in the spending power of the middle-class population in developing regions such as Brazil, Mexico, and ASEAN across the globe is expected to offer plentyofopportunities for the progressive growth ofthe two wheeler handlebars market throughout the forecast period. Latin America and Eastern Europe have also witnessed high demand for two wheelers and their accessories. This factor is expected to drive the growth of the two wheeler handlebars market over the assessment period. Increasing population of two wheeler users and stringent emission norms for vehicles are some other factors that affect the growth of the two wheeler handlebars market. In contrast, people in developed regions such as North America, Japan, and Western Europe prefer passenger cars over motorcycles, owing to high disposable incomes, which, in turn, hampers the growth of the two wheeler handlebars market.
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Two Wheeler Handlebars Market: Market Participants
Examples of some of the market participants identified in the global two wheeler handlebars market include:
- Kohli Bullet Accessories
- Renthal Ltd.
- Rizoma srl
- Flanders Company, Inc.
- J&P Cycles
- Lyon Lee Autotop Industry (Shanghai) Co., Ltd.