Motorcycle Chain Sprocket Global Market Growth Outlook Through 2024-2033
Motorcycle Chain Sprocket Market Growth Outlook Through 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, August 29, 2024 /EINPresswire.com/ — The global motorcycle chain sprocket market is projected to grow from $2.13 billion in 2023 to $2.32 billion in 2024, at a robust CAGR of 8.7%. Despite recent challenges, the market is expected to surge to $3.24 billion by 2028 at a compound annual growth rate (CAGR) of 8.8%, driven by rising demand for two-wheeled motor vehicles and advancements in product technology.
Increasing Demand for Motor Vehicles Drives Growth in the Motorcycle Chain Sprocket Market
The surge in demand for two-wheeled motor vehicles is a key factor propelling the motorcycle chain sprocket market. Motorcycles are favored for their affordability, fuel efficiency, and ease of maneuverability in urban environments. Motorcycle chain sprockets play a crucial role by transmitting power from the engine to the rear wheel, thus enabling motion and speed control. The Society Of Manufacturers Of Electric Vehicles reported a significant rise in electric two-wheeler sales in India, from 252,641 units in 2021-2022 to 728,054 units in 2022-2023, underscoring the growing market for motorcycle components.
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Major Players and Strategic Developments
Key companies operating in the motorcycle chain sprocket market include TVS Motor Company, Tsubaki India Power Transmission Pvt. Ltd., and Sunstar Group. Notably, MPE Partners acquired Webster Industries Inc. in February 2024 to leverage Webster’s expertise in engineered class chains and sprockets, aiming to boost growth through strategic investments and product innovation.
Trends Shaping the Future of the Market
The market is witnessing several key trends, including the integration of safety features into chain sprockets, the incorporation of IoT technology, and the development of hybrid chain systems. The use of AI and machine learning for predictive maintenance and the adoption of blockchain technology for supply chain transparency are also gaining traction.
Segments:
• Chain Type: Standard Rolling Chain, Ring Chain, X Ring Chain
• Engine Capacity: Up to 150 Cubic Capacity, 151-300 Cubic Capacity, 301-500 Cubic Capacity, Above 500 Cubic Capacity
• Motorcycle Type: Standard, Cruiser, Sports, Mopeds, Other Motorcycle Types
• Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest market for motorcycle chain sprockets in 2023 and is anticipated to continue its dominance. North America is expected to be the fastest-growing region during the forecast period, driven by increasing consumer preferences and technological advancements.
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Motorcycle Chain Sprocket Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Motorcycle Chain Sprocket Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on motorcycle chain sprocket market size, motorcycle chain sprocket market drivers and trends, motorcycle chain sprocket market major players, motorcycle chain sprocket competitors’ revenues, motorcycle chain sprocket market positioning, and motorcycle chain sprocket market growth across geographies. The motorcycle chain sprocket market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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