Motorcycle Chain Market

Increasing Consumer demand for motorcycle and increasing population and traffic congestion is driving the market growth

Market CAGR for the motorcycle chain is being driven by the increasing consumer demand for motorcycles and increasing population and traffic congestion. The surge in consumer demand for motorcycles can be attributed to several factors, including their minimal environmental impact, the convenience of navigating crowded urban areas, affordability within middle-class price ranges, and the ease of parking. Notably, the Indian motorcycle market is experiencing substantial growth in 2023, marked by robust customer demand in Q4, leading to a significant market upswing with notable sales increases in both October (+28.0%) and November (+34.8%). 

In the context of a global increase in population and worsening traffic congestion, there is a growing demand for compact vehicles, particularly scooters and motorcycles. This escalating demand and the resultant surge in new motorcycle sales, driven by the substantial population and escalating traffic congestion, are poised to fuel the market's growth throughout the forecast period. As a result, it is anticipated that throughout the projection period, demand for the Motorcycle Chain Market will increase due to the Increasing Consumer demand for motorcycles and increasing population and traffic congestion. Thus, driving the Motorcycle Chain Market revenue.

The Global Motorcycle Chain Market Industry is experiencing growth driven by the increasing popularity of motorcycles as a preferred mode of transportation. In urban areas, motorcycles offer a practical solution to traffic congestion and parking challenges. This trend is particularly evident in regions where fuel prices are high, prompting consumers to seek more economical alternatives. As of 2024, the market is valued at 2.86 USD Billion, reflecting a growing consumer base that favors motorcycles for both commuting and recreational purposes. This shift in consumer behavior is likely to bolster demand for motorcycle chains, which are essential components for the efficient operation of these vehicles.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Motorcycle Chain market in North America can be attributed to several key factors. Positive economic indicators, such as an upturn in disposable income, play a pivotal role in influencing the sales of motorcycles and their components. Notably, the real median household income witnessed a modest decline, reaching $74,580 in 2022, reflecting a 2.3 percent decrease from the 2021 estimate of $76,330. 

Despite this, the period saw a noteworthy increase of 3.4 percent in the number of full-time, year-round workers between 2021 and 2022, surpassing the 1.7 percent growth in total workers. In the context of consumer behavior, heightened disposable income tends to foster a proclivity towards investing in recreational products such as motorcycles. This trend serves as a key driver contributing to the expansion of the associated market. In the business landscape, adapting strategies to align with fluctuations in disposable income becomes imperative for sustained growth within the motorcycle and component sectors.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Global Motorcycle Chain Market Share By Region 2023 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Motorcycle Chain Market accounts for the second-largest market share as Urbanization and shifts in commuting behaviors have the potential to shape vehicle preferences. Notably, the European Union's urban population recorded a 0.5% increase from 2021 to reach 337,964,991 in 2022. This follows a 0.2% rise from 2020 to 2021 when the urban population reached 336,271,812. Given the congestion often experienced in urban areas, motorcycles have emerged as a favored mode of transportation. 

If there is a discernible trend towards the adoption of motorcycle-friendly commuting options, this could, in turn, generate heightened demand for motorcycles and associated components within the market. Businesses in the transportation sector should be cognizant of these evolving patterns to strategically position themselves in response to the growing demand for motorcycles and related parts. Further, the German Motorcycle Chain Market held the largest market share, and the UK Motorcycle Chain Market was the fastest-growing market in the European region

The Asia-Pacific Motorcycle Chain Market is expected to grow at the fastest CAGR from 2023 to 2032. Rapid urbanization in the Asia-Pacific region often leads to increased traffic congestion in cities. Urbanization continues to be a defining megatrend in the Asia-Pacific region. Fifty-four percent of the global urban population, more than 2.2 billion people, live in Asia. 

By 2050, the urban population in Asia is expected to grow by 50% - an additional 1.2 billion people. Motorcycles are a popular choice for navigating through congested urban areas due to their maneuverability. A growing emphasis on motorcycle-friendly transportation options could contribute to the demand for motorcycles and related components. Moreover, China’s Motorcycle Chain Market held the largest market share, and the Indian Motorcycle Chain Market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the Motorcycle Chain market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Motorcycle Chain industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Motorcycle Chain industry to benefit clients and increase the market sector. In recent years, the Motorcycle Chain industry has offered some of the most significant advantages to the transportation and mobility sector. Major players in the Motorcycle Chain Market, including Daido Kogyo Co., Ltd. (D.I.D), Renthal Ltd, RK Japan, Tsubakimoto Chain Co., Sunstar Engineering America, Regina Catene Calibrate S.p.A, Rockman, Rombo, BikeMaster, Enuma Chain Mfg. Co., Ltd., Thai Motor Chain Co., Ltd. (Daiichi), Vortex Racing, and Hangzhou Unibear Holding Group Co.

Ltd are attempting to increase market demand by investing in research and development operations.

Established in 1933 as a bicycle chain manufacturer, the Daido Kogyo Co., Ltd. (D.I.D) has diversified its operations across motorcycles, automobiles, industrial machinery, and welfare equipment. Fueled by the enterprising spirit inherited from its founder, the company has evolved into a global manufacturing entity with a presence in 11 countries. The brand "DID," synonymous with trust and reputation since the company's inception, reflects its commitment to quality. 

In response to a dynamic business landscape, the 12th mid-term management plan, initiated in 2021, is aligned with the motto of "Giving shape to the future of conveying and transporting." To venture into new markets, the company is advancing its Electric Vehicle (EV) technology and proprietary processing capabilities developed through years of product manufacturing. Additionally, a foundational sustainability policy has been crafted, underscoring the commitment to contribute to a sustainable society by addressing social challenges through innovative solutions.

Renthal stands as a prominent global leader in the design, manufacturing, and sales of parts and accessories for motorcycles, ATVs, and cycles. The comprehensive parts portfolio caters to a diverse range of products for motocross, quad bikes, road bikes, and trial bikes. Noteworthy offerings encompass market-leading products such as handlebars, grips, bar mounts, levers, hand guards, chainwheels, chain, and brake pads. The cycle product lineup includes handlebars, stems, grips, and chainrings. 

Renthal, headquartered in Manchester, UK, holds a substantial global presence. Renowned as the foremost handlebar manufacturer in the motorcycle and ATV aftermarket sector, Renthal has secured partnerships with major industry players like Honda, Kawasaki, and Suzuki, which opt to incorporate Renthal handlebars as original equipment. At the pinnacle of sporting excellence, Renthal has achieved a remarkable 247 World Championships and 255 US titles in the field of motorcycling. The company has also clinched 11 World Championships in cycling, establishing itself as a dominant force in both motorcycling and cycling domains.