The global Motorcycle Chain market is expected to witness a market value of US$ 2.4 Billion in 2023 and is expected to accumulate a market value of US$ 4.6 Billion by registering a CAGR of 6.7% in the forecast period 2023 to 2033. The Motorcycle Chain market registered a CAGR of 3.1% in the historical period 2018 to 2022. Factors such as increasing population, growing high traffic congestion, an upsurge in the demand for innovative as well as stylish bikes are expected to boost the market growth over the analysis period.
As per Future Market Insights - market research and competitive intelligence provider, the global market value for Motorcycle Chain has been flourished. The increasing demand for motorcycles, especially in developing countries, is one of the major factors that is anticipated to boost the growth of the motorcycle chain market in the near future. With the rise in disposable income and improved economic conditions, consumers are more likely to purchase motorcycles, which in turn, is boosting the demand for motorcycle chains.
Moreover, factors such as the growing popularity of motorsports, such as motocross and enduro, are also expected to accelerate the market growth over the analysis period. These sports require high-performance motorcycles and components, including chains, which are capable of withstanding the rigors of off-road riding.
With the increasing awareness about road safety, consumers are becoming more conscious about the quality of motorcycle components, including chains. This is another major factor that is likely to fuel the sales of high-quality and reliable chains that can provide optimal safety and performance. This in turn is projected to augment the market growth.
Additionally, the continual advancements in technology have led to the development of advanced as well as high-performance motorcycle chains. These chains are made using premium quality materials and feature improved durability, strength, and longevity, which is driving their demand in the market.
Besides, the governments in several countries are providing incentives and support to the motorcycle industry, which is further escalating the growth of the motorcycle chain market. These initiatives aim to promote the use of motorcycles as a means of transportation, and also encourage the development of advanced motorcycle components, including chains.
Furthermore, the market is also driven by the expansion of the aftermarket, with the rise of online sales platforms. Consumers are now able to purchase high-quality motorcycle chains at competitive prices, which is boosting the demand for these products.
On the regional end, the Motorcycle Chain market in North America is expected to account for the maximum share during the analysis period, owing to the factors such as the strong presence of major motorcycle manufacturers and suppliers in the region, the increasing popularity of motorsports such as motocross and enduro as well as the growing demand for high-performance motorcycles chains.
On the other hand, the Motorcycle Chain market in Europe is expected to hold a significant growth rate over the forecast period, attributed to factors such as the favorable government policies and incentives, and the increasing awareness regarding safety of motorcycles.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the designing of Motorcycle Chain are expected to create lucrative opportunities for the market growth over the analysis period.
For instance, in September 2020, BMW Motorrad announced a new zero-maintenance drive chain design that is claimed to require as little maintenance as a shaft drive. The M Endurance chain was initially offered in 525 pitch as an accessory, and a factory option, for the new BMW S 1000 RR and S 1000 XR. BMW has used a new coating material called tetrahedral amorphous carbon (ta-C), which is a type of industrial diamond, to increase hardness and reduce friction.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 2.4 Billion |
| Projected Market Value in 2033 | US$ 4.6 Billion |
| Growth Rate (2023 to 2033) | 6.7% CAGR |
The superior fuel efficiency of motorcycles compared to four-wheelers, as well as the low cost of maintenance, and the growing popularity of high-speed motorcycles are important factors in the expansion of the motorcycle chain sales.
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Motorcycle chains are used to transmit power from the engine to the rear wheel. The motorcycle is driven by the motor drive chain, which is attached to a sprocket with a rear wheel. Depending on the model of motorcycle, different chains are offered.
One of the important trends that will contribute to the market growth is the usage of stainless chains for optimal efficiency and performance. For motorcycles, stainless chains provide enhanced efficiency and maximum drive performance.
Stainless chains are appropriate in situations where maintenance, as well as safety and consistency, are important. Stainless steel chains will be in high demand throughout the projected period due to features such as lesser need for re-lubrication, chemical resistance, and long service life.
Growing traffic congestion is fueling demand for motorcycles, which is propelling the chain industry forward. The necessity for motorcycle maintenance leads to the replacement of the chain, which is fueling the demand.
The trend of using motorbikes for recreational activities is increasing popularity in the Asia Pacific region as a result of the growing prosperous population and changing demographic perspective, which will raise demand for motorcycle chain.
Motorcycle chain have a lifespan that is determined by the driving conditions. These chains last for 25,000 to 30,000 miles, in favorable driving conditions. However, frequent maintenance is required, such as service and oiling.
On the other hand, in poor road conditions, the overall operational life of motorcycle chain is significantly reduced, necessitating regular repair. As a result, poor road conditions have the potential to raise the aftermarket segment in the global market.
Manufacturers are concentrating their efforts in the USA. In the USA, high demand for a wide range of motorcycles such as sports, touring, cruising and others is fueling the growth of the market. North America will showcase a positive growth rate over the forecasted period.
The leading chain manufacturers in the USA are primarily focusing on design as their primary business strategy, offering a diverse selection of chains to grab maximum market share.
Many people in Canada and the USA, are actively participating in recreational activities, such as country wide riding, motorcycle touring, and motorcycle exhibitions especially with high engine capacity motorcycles. In the motorcycle chain market, this trend of recreational activities is boosting demand for X-ring and O-ring type chains.
Riders are also concentrating on purchasing and maintaining high-end motorcycles, which will push the market even more.
Principal Consultant
Europe is the second largest market for motorcycle in the world and it is expected to witness steady growth till 2031. France is forecasted to be the leader in the chain sales in Europe followed by Italy, Spain and Germany.
Europe continues to meet America's need for high-end recreational motorcycles and its components, and they're doing so with smarter, faster, and better-made motorcycles and components than ever before, owing to wise leadership at Europe's largest companies. It's also worth mentioning that, even though Japanese manufacturers have shifted their focused on the mass market, European manufacturers have shifted their focused on premium goods.
Some of the leading manufacturers and suppliers include
Despite the presence of a small number of key vendors in this market, the level of rivalry among these competitors is fierce. Few of these companies have long-term connections with OEMs, and they specialize in supplying chains for motorcycles, industrial and agricultural machinery, automobiles, and bicycles.
These companies have also started to collaborate with other companies for expansion. For instance, in December 2020, Daido and iwis formed a joint venture to start a new manufacturing unit in Kentucky, USA for production of engine chains.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Motorcycle Chain Market
