The Two Wheeler Backrest Market is expected to reach US$ 3,203.5 Million by 2032, at a 4.5% CAGR. The market for two-wheeler backrests is primarily driven by the growing demand for passenger comfort during long rides. People prefer two-wheelers over four-wheelers for touring and long drives on today's congested highways due to the increased number of vehicles on the road. All these factors fuel up the two-wheeler backrest market around the globe.
Two-wheeler backrests are one of the most demanding components of two-wheelers, which not only provide comfort during rides but also enhance the two-wheeler design and make it more appealing among other vehicles. The market for two-wheeler backrests has developed due to the rise in demand for touring and cruising bikes as per the trend over the past few years. One of the key factors contributing to the global expansion of the two-wheeler backrest market is the growth in sales and production of two-wheelers.
| Attributes | Details |
|---|---|
| Market Size (2021) | US$ 1,974.0 Million |
| Market Size 2022 | US$ 2,062.8 Million |
| Market Size 2032 | US$ 3,203.5 Million |
| Value CAGR (2022 to 2032) | 4.5% |
A two-wheeler backrest enhances the vehicle's comfort, luxury, and style. The number of modifications is rising due to the act of customizing a motorcycle to add something additional to the base price and the desire to make the vehicle stand out from the competition. Only a few motorcycles, including high-end cruisers and touring bikes, have backrests when they are still in the manufacturing process. Since backrests are added to motorcycles as part of the vehicle's modification, the aftermarket market for two-wheelers backrests’ is considered as being highly advantageous.
The demand for two-wheeler backrests is expected to increase significantly around the world because they are one of the important aspects when customizing the vehicle, especially among the young population. Furthermore, it is predicted that throughout the course of the forecast period, the market for two-wheeler backrests will grow globally.
The Two Wheeler Backrest Market is expected to reach US$ 2,062.8 Million in value by 2022, according to the report, which also exhibits a historical growth rate of less than 1.9% CAGR from 2017 to 2021.
The COVID-19 pandemic crisis has hampered the global expansion of the two-wheeler accessory market industry as well as many other industries. As a result of the imposed lockdown disrupted the supply chain and also delayed deliveries of two-wheeler accessories in the market. The enforced lockdown affected two-wheelers as well as sales of their accessories, which in turn caused the worldwide sales of the Two Wheeler Backrest market to drop.
After the reduction in the percentage of infection, the market resumes with new demands and opportunities as the fact of covid -19 infection and relative awareness. The preference of driving own two-wheeler for an individual is found more practical by various customers. The relative preference for comfort while driving fuels up the market effectively all over the globe. Over this, the Two Wheeler Backrest market demand forecast by FMI anticipates a CAGR of 4.5% by 2032.
The growth of the two-wheelers backrest market is fueled by factors including a growing emphasis on developing comfort features, supported by rising demand for touring bikes. For touring and adventure-related activities, motorcycles are becoming more and more popular. Tourists favor motorcycles and scooters over four-wheelers as their preferred mode of transportation in an attempt to reduce traffic and experience an open-air environment. This remains one of the main reasons why scooter sales are high and the market for their accessories is growing.
The rate of two-wheeler backrest installations is anticipated to increase in the near future due to the growing demand for two-wheelers for travel and tourism-related activities. Consumers prefer long commute solutions that are comfortable and convenient which is expected to surge the demand for backrests in two-wheelers. Backrests are an example of a two-wheeler add-on accessory that customers use to get the required level of comfort. The market for backrests for two-wheelers is anticipated to rise as riders place more value on comfort. Two-wheeler owners are enhancing the looks of their motorcycles with accessories in addition to enhancing comfort.
Backrests for two-wheelers give the vehicle a dynamic appearance and enhance vehicle design. Two-wheeler backrest sales and usage are gaining pace as a result of owners' growing emphasis on improving the vehicle’s looks and design. Increasing two-wheeler fleets across geographies are creating a huge demand for Two Wheeler Backrests, which is anticipated to accelerate the market throughout the forecast period of 2022 to 2032.
Even though the global market for two-wheeler backrests is expected to develop significantly during the projected period, there are a few things that could slow it down. The competition amongst the players will intensify as inflation rises. The sales channels in this competition are specifically impacted by intense competition, and in this case, the cost is the main variable used to compare the channels. During this time, the aftermarket sales channel may have a significant impact on the backrest's quality.
Popularization of online distribution channels, customers might receive products that are damaged product, and certain distributors' poor replacement policies may hamper the motorcycle backrest market's sales. Authorized outlets are located in very specific locations that some consumers may find unworthy, causing them to either drop their demand for backrests or go for some online distribution channel that provides either positive or negative experiences to the customer. All these factors could have an impact on the worldwide two-wheeler backrest market over the forecast period.
The past few years have seen healthy growth in recreational activities, particularly in North America and Europe. For the same activities, people want the vehicle add-on accessories that make their two-wheeler look bulky. This is due to both the population's rising disposable income and the growing investment in domestic travel and tourism.
The market for two-wheeler backrests is predicted to grow favorably as recreational activities are on the rise. The most crowded nations in the world include those that include Thailand, Indonesia, Russia, and Colombia. Long commutes are thought to be a major contributor to the rise in consumer adoption of motorcycles. The global market for two-wheeler backrests is then expected to expand during the forecast period.
Key players operating in the Two Wheeler Backrest market include Survival Equipment Services Ltd, SHAD Company, J&P Cycles, Kuryakyn - Motorsport Aftermarket Group, Mustang Motorcycle Products, LLC., Harley Davidson, Indian Motorcycle International, LLC., Rivco, Cobra USA, Backup USA, National Cycle, and others.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Pad Type, Two Wheeler Type, Sales Channel, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, Italy, France, United Kingdom, Spain, Benelux, Russia, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, GCC Countries, Turkey, South Africa, North Africa |
| Key Companies Profiled | Survival Equipment Services Ltd; SHAD Company; J&P Cycles; Kuryakyn - Motorsport Aftermarket Group; Mustang Motorcycle Products, LLC; Harley Davidson; Indian Motorcycle International, LLC; Rivco; Cobra USA; Backup USA; National Cycle; Others |
| Customization & Pricing | Available upon Request |
In 2021, the value of the Two Wheeler Backrest Market reached over US$ 1,974.0 Million.
During the forecast period, the Two Wheeler Backrest Market is estimated to expand at a CAGR of 4.5% from 2022 to 2032.
The Two Wheeler Backrest Market is projected to reach US$ 3,203.5 Million by the end of 2032.
North America region is projected to lead the Two Wheeler Backrest market in the forecast period.
The key players operating in the Two Wheeler Backrest market are Survival Equipment Services Ltd, SHAD Company, J&P Cycles, Kuryakyn - Motorsport Aftermarket Group, and Mustang Motorcycle Products, LLC
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Two Wheeler Backrest Market
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