Rise in demand for two-wheeler due to traffic congestion and increase in investment by manufacturers in motorcycle industry for superior performance & comfort drive the growth of the global motorcycle seat market.
PORTLAND, Ore., Nov. 9, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Motorcycle Seat Market by Seat Type (Single Seat and Split Seat), Material Type (Leather Seat, Synthetic Seat, Vinyl Seat, and Others), Motorcycle Type (Standard, Sports, Cruiser, and Adventure), Sales Channel (OEM, and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global motorcycle market industry generated $39.2 billion in 2022, and is anticipated to generate $76 billion by 2032, witnessing a CAGR of 6.9% from 2023 to 2032.
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Prime determinants of growth
Rise in demand for two-wheeler due to traffic congestion, and increase in investment by manufacturers in motorcycle industry for superior performance & comfort drive the growth of the global motorcycle seat market. However, volatility in the prices of raw material and downshift in the sales & production of automobiles restricts the market growth. Moreover, incorporation of cutting-edge technology in motorcycles along with emerging markets across Asia-Pacific and LAMEA offers untapped growth potential in the motorcycle seat market.
Motorcycle Seat Market Report Coverage & Details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$39.2 billion |
|
Market Size in 2032 |
$76 billion |
|
CAGR |
6.9 % |
|
No. of Pages in Report |
382 |
|
Segments covered |
Seat type, Material type, Motorcycle Type, Sales channel, and Region |
|
Drivers |
Rise in demand for two-wheeler due to traffic congestion Increase in investment by manufacturers in motorcycle industry for superior performance and comfort |
|
Opportunities |
Incorporation of cutting-edge technology in motorcycles Emerging markets across Asia-Pacific and LAMEA countries offer untapped growth potential |
|
Restraints |
Volatility in the prices of raw material Downshift in the sales & production of automobiles |
The split seat segment to maintain its leadership status throughout the forecast period
Based on seat type, the split seat segment held the highest market share in 2022, accounting more than half of the global motorcycle seat market revenue, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 7.6% from 2023 to 2032, owing to the increase in demand for two-wheeler due to traffic congestion.
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The leather seat segment to maintain its leadership status throughout the forecast period
Based on material type, the leather seat segment held the highest market share in 2022, accounting for nearly one third of the global motorcycle seat market, however vinyl segment is estimated to lead the market segment during the forecast period. The strength and durability are a major factor that propels the growth of leather seats. However, vinyl seat segment is projected to manifest the highest CAGR of 8.0% from 2023 to 2032. The vinyl seat market is expected to rise owing to its resistive ability to wear and tear and the vinyl seat can withstand various elements, making it suitable for motorcycle riding in any condition such as rain, and sunlight.
The standard motorcycle segment to maintain its lead position during the forecast period
Based on motorcycle type, the standard motorcycle segment accounted for the largest share in 2022, contributing to nearly two-fifths of the global motorcycle seat market revenue. The primary factors that drive standard motorcycle seat segment growth are its ergonomic design and rise in demand for these motorcycles. However, the sports motorcycle segment is expected to portray the largest CAGR of 8.5% from 2023 to 2032. Increase in popularity of sports motorcycle events such as Moto GP and availability of the road-based version motorcycle is expected to boost the growth of the segment.
The OEM segment to maintain its lead position during the forecast period
Based on sales channel, the OEM segment accounted for the largest share in 2022, contributing to more than four-fifths of the global motorcycle seat market revenue, owing to the ability of the OEM to produce seats which fits the manufacturers requirement. However, aftermarket sales channel is expected to portray the largest CAGR of 8.9% from 2023 to 2032. The customization option from the aftermarket sales channel is expected to augment the segmental growth in the motorcycle seat market.
Asia-Pacific to maintain its dominance by 2031
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one third of the global motorcycle seat market revenue, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 8.1% from 2023 to 2032, owing to increase in demand for two-wheeler due to traffic congestion and the emergence of the two-wheeler market in the region.
Key Highlights from the Report:
- The report provides an in-depth analysis of motorcycle seats used in the transportation industry.
- Market share data for motorcycle seats is examined from 2022 to 2032.
- The report highlights the latest developments in this field.
- Profiles of the leading companies in the industry are included in the research.
- The research study encompasses various market segments and regions for comprehensive analysis.
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Leading Market Players: –
- BITCHIN SEAT COMPANY
- CORBIN PACIFIC INC
- HESS, LLC.
- LEMANS CORPORATION
- LAAM CUSTOM MOTORCYCLE SEATS
- LE PERA ENTERPRISES
- MUSTANG SEATS
- SADDLEMEN MOTORCYCLE SEATS AND COMPONENTS
- SARGENT CYCLE PRODUCTS
- GRANUCCI SEATS
The report provides a detailed analysis of these key players in the global motorcycle seat market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant position in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Similar Reports We Have on Motorcycle Industry:
Automotive Seat Market Research Report 2023-2032
Marine Seats Market Research Report 2023-2032
Aircraft Seating Market Research Report 2023-2032
Rail Seat Market Research Report 2023-2032
Automotive Seat Climate Systems Market Report 2023-2032
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