Demand for motorcycle chain sprocket, in Asia Pacific, is expected to grow at a steady year-on-year rate of 5.3 percent, in 2019, as per a recently released market intelligence study by Future Market Insights (FMI). Motorcycle chain sprocket being the lightest transmission possible compared to gear mechanism, in addition to being highly cost-effective in terms of manufacturing versus gear trains, will significantly contribute to the sales of motorcycle chain sprocket, in the coming years.[175 Pages Reports] Future Market Insights (FMI) has projected the global motorcycle chain sprocket market to grow with year-on-year value growth of 5.7% in 2022 reaching a value of about US$ 2,315.1 Mn by 2022 end. A chain and sprocket are employed when the distance between shafts is higher than the gearing’s intended size. A bike uses a chain and sprocket because the specified distance between shafts makes gear-to-gear meshing difficult. The chain holds the wheel sprocket and transfers the engine power into forwarding speed by turning the wheel. The global motorcycle chain sprocket market is anticipated to witness a considerable value CAGR of 6.2% during the period of 2022 and 2027.
Moreover, apart from ease of installations and servicing, lightweight feature of the chain sprockets will remain the most rewarding factor, thereby, increasing its installations in motorcycles. FMI forecasts that global motorcycle chain sprocket market revenues will reach approximately US$ 1.9 Billion, by 2019-end. The size of the market is based on estimates of the number of chain sprockets shipped, during the same time period.
“The global market for motorcycle chain sprocket continues to grow with increasing product and sales of motorcycle specifically in emerging markets, paradigm shift towards light weight vehicle components to control the automobile emission and increase the vehicle life, and flourishing aftermarket for motorcycle chain sprocket determined by factors, such as distance driven, number of vehicles in operation, and ownership time” Senior Analyst, FMI.
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Electric Bikes and Tax on Luxury Items Continue to Strain Revenue
However, several government initiatives such as the introduction of electric bikes—aimed at controlling vehicular pollution, could substantially restrict the demand for conventional motorcycles, and thereby chain sprockets used in such vehicles. China, being one of the largest markets for two-wheelers is aggressively promoting electric bikes for transportation, considering its low cost, energy efficient, emission-free systems, and no license and registration.
Tax on luxury items has considerably increased in some markets of Asia Pacific, such as India. The Indian government has increased the tax to 31 percent on conventional motorcycles with engines greater than 350cc, which in turn could slow down the sales of luxury and heavy engine capacity conventional motorcycles. Furthermore, Singapore has adopted a new system of additional registration fees (ARF), which will add more costs to conventional motorcycles and therefore, render them expensive, leading to a decrease in the sales of conventional motorcycles and adversely affect the motorcycle chain sprockets market.
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Competition to Remain Relatively High; Manufacturers Favor APEC Markets
- The top 8 companies in the global motorcycle chain sprocket market are estimated to hold approximately 16-21 percent of the overall market in terms of value.
- Tsubakimoto Chain Co., Regina Catene Calibrate Spa, Jomthai Asahi Co.,Ltd, L.G.Balakrishnan & Bros Ltd., and Rockman Industries Ltd. are some of the leading global and local manufacturers of motorcycle chain sprockets.
- While the tier-1 and tier-2 companies generate over US$ 50 Mn and between US$ 20 Mn to US$ 50 Mn through the sales of motorcycle chain sprocket, respectively, the tier-3 companies generate less than US$ 20 Mn, as per the report.
- Focus remains on manufacturing low maintenance and high efficiency motorcycle chain sprocket to improve the overall functioning and life of drive chain.
- Manufacturers are focusing on entering into long-term supply contracts with OEM of two wheelers in order to gain a strong hold in the domestic markets of APEC.
- Apart from expanding its product portfolio, manufacturers of motorcycle chain sprockets are also focusing in expanding their production or sales capacities in developing regions.
- FMI predicts heavy investments in research and development initiatives to bring innovation in the manufacturing processes to develop differentiated products.
Regionally, developing regions are expected to remain highly lucrative for new market entrants given the easy availability of raw materials and minimal infrastructure requirements combined with lack of stringent government regulations, thereby creating a favorable investment environment.
Apart from key market influencing dynamics and competitive landscape, FMI also offers an in-depth segmental analysis—on the basis of motorcycle type (standard, cruiser sports, and mopeds and others), engine capacity (up to 150 cc, 151-300 cc, 301-500 cc, and above 500 cc), chain type (standard rolling chain, O ring chain, and X ring chain), and sales channel (OEM and Aftermarket)
By Engine Capacity
- Upto 150 CC
- 151-300 CC
- 301-500 CC
- Above 500 CC
By Chain Type
- Standard Rolling Chain
- O Ring Chain
- X Ring Chain
By Motorcycle Type
- Mopeds & Others
- North America
- Latin America
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Key Questions Answered in the Report
- How has the Motorcycle Chain Sprocket market evolved in the past four years?
- What shape is the Motorcycle Chain Sprocket market expected to take in terms of value during the study period?
- What are some of the prevailing market dynamics in the Motorcycle Chain Sprocket market?
- What are some of the competition developments and trends affecting the Motorcycle Chain Sprocket market?
- What are some of the underlying macro-economic and industry factors impacting the growth of the Motorcycle Chain Sprocket market?
- What are the important key challenges, opportunities and improvement factors for Motorcycle Chain Sprocket market players?
- What are the important market positioning and key strategies of key service providers as per the Motorcycle Chain Sprocket market taxonomy?
- How is the competition structured at present and how has it evolved in the Motorcycle Chain Sprocket market over the past few years?
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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