Global Motorcycle Chain Sprocket Market Size Forecast 2024-2033
12 Dec, 2024
How Is The Global Motorcycle Chain Sprocket Market Defined?
Motorcycle chain sprocket refers to a toothed wheel component, made of steel or aluminium, that engages with a chain to transmit power from the engine to the rear wheel of a motorcycle. A motorcycle chain sprocket's durability and precise tooth design ensure efficient power transmission, essential for smooth acceleration and reliable performance on diverse road conditions.
Motorcycle Chain Sprocket Global Market Report 2024 provides data on the global motorcycle chain sprocket market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The motorcycle chain sprocket market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Motorcycle Chain Sprocket Size Expected To Change, And What Are The Growth Rate Projections?
The motorcycle chain sprocket market expanded from $2.13 billion in 2023 to $2.32 billion in 2024, with a CAGR of 8.7%. Growth has been attributed to increasing urbanization, R&D activities, and the focus on enhancing product durability. By 2028, the market is expected to reach $3.24 billion at a CAGR of 8.8%, driven by cost-effective solutions, urbanization, and shifting consumer preferences. Trends include IoT integration, hybrid systems, safety features, and AI and blockchain adoption.
Which Drivers Are Accelerating Growth In The Motorcycle Chain Sprocket Market?
The increasing demand for two-wheeled motor vehicles is anticipated to boost the motorcycle chain sprocket market. Two-wheeled vehicles, such as motorcycles, are gaining popularity due to their affordability, fuel efficiency, and ability to navigate urban congestion. Motorcycle chain sprockets are essential for transferring power from the engine to the rear wheel, enabling movement and controlling speed. For instance, in 2022-2023, sales of electric two-wheelers in India grew significantly, from 252,641 to 728,054 units. Therefore, the rising demand for two-wheeled vehicles is driving the motorcycle chain sprocket market.
Get Your Free Sample of the Global Motorcycle Chain Sprocket Market ReportWhat Are The Core Segments Of The Global Motorcycle Chain Sprocket Market?
The motorcycle chain sprocket market covered in this report is segmented –
1) By Chain Type: Standard Rolling Chain, Ring Chain, X Ring Chain
2) By Engine Capacity: Up to 150 Cubic Capacity, 151-300 Cubic Capacity, 301-500 Cubic Capacity, Above 500 Cubic Capacity
3) By Motorcycle Type: Standard, Cruiser, Sports, Mopeds, Other Motorcycle Types
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Which Emerging Trends Are Reshaping The Motorcycle Chain Sprocket Market?
Key players in the motorcycle chain sprocket market are introducing innovative kits that leverage advanced materials and precision engineering to improve durability and performance. These kits typically include compatible front and rear sprockets and a chain, ensuring optimized functionality. In December 2023, India's L. G. Balakrishnan & Bros Ltd. launched the Rolon electric bike chain sprocket kit, marking the country's first comprehensive sprocket and chain set designed specifically for electric motorcycles. This product ensures superior performance and longevity tailored to electric two-wheelers.
What Is The Largest Region In The Motorcycle Chain Sprocket Market?
Asia-Pacific was the largest region in the motorcycle chain sprocket market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the motorcycle chain sprocket market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.