Two-Wheeler Aftermarket Components & Consumables Industry Set to Reach USD 58 Billion by 2033

The two-wheeler aftermarket components and consumables industry is poised for substantial growth, with a projected compound annual growth rate (CAGR) of 7%, reaching an estimated market value of USD 58 billion by 2033. This significant expansion is driven by the increasing use of two-wheelers, especially in urban areas where motorcycles and scooters are popular for their convenience and fuel efficiency. Additionally, the rising consumer demand for enhanced performance and customization is propelling the market, as riders seek high-quality replacement parts and consumables like tires, brake pads, and engine oils.

The growth of e-commerce platforms has also played a crucial role by making a wide array of aftermarket products more accessible to consumers. As a result, businesses in the two-wheeler aftermarket components and consumables market are well-positioned to take advantage of these trends, ensuring a dynamic and prosperous future.

The market is expected to benefit from the growing trend of customer customization, supported by increased design and manufacturing flexibility within the automotive industry. Poor road conditions and declining vehicle performance further create a favorable environment for the aftermarket components industry, leading to higher demand for repairs and maintenance.

Moreover, relatively low production costs and an increase in road accidents are contributing to market growth. The rising need for replacement parts offers promising opportunities for the expansion of the automotive aftermarket in the foreseeable future.

The market is undergoing a significant shift toward digitization, primarily driven by technological advancements. The aftermarket is increasingly moving to online platforms, prompting stakeholders such as OEMs, OESs, wholesalers, insurers, and workshops to adapt to the growing trend of online sales. Factors expected to drive market growth during the forecast period include: