The global motorcycle parts industry is growing at a steady pace, thanks to the rising popularity of riding a motorcycle as a mainstream transportation method and as a leisure activity in many major countries around the world. As one of the world’s most recognizable motorcycle manufacturing and exporting countries, the UK has long been well acknowledged in the global market for designing and producing many stylish and quality motorcycles and motorcycle parts. With the continuous expansion of the global motorcycle market, the UK’s motorcycle parts industry is expected to flourish further, so do the business opportunities with the top motorcycle manufacturers in the UK.
The Boom of the Motorcycle Market is Fuelling the Global Motorcycle Parts Industry
According to a recent market report from Persistence Market Research, the global motorcycle market was valued at US$ 85 billion in 2017, while the total revenue of the global motorcycle market is expected to grow by about 4% per year to reach $120 billion by 2020. Many of the world’s largest motorcycle manufacturing countries, namely China, Indi, and Japan are also increasing their motorcycle productions and exports to the meet the rising demand from the global market.
Currently, some of the best-selling motorcycle types include street bikes, such as cruisers, sport bikes, standards, and touring motorcycles; off-road motorcycles designed for dirt and mountain terrain; scooters; and dual sport bikes designed for both road and off-road usage. While some of the world’s largest motorcycle manufacturers are Jiangmen Dachangjiang Group, Lifan Industry (Group), Loncin Motor, and Zongshen Industrial Group (all based in China); BMW (Germany); Hero MotoCorp (India); Honda, Kawasaki, Suzuki, and Yamaha (Japan); and Harley-Davidson and Polaris (the US).
Driven by rising motorcycle output and sales around the world, the global motorcycle parts industry was estimated at US$119.5 billion in 2017, representing an impressive annual growth rate of 7.5%. China will remain the largest motorcycle parts supplier in the world, with India and Indonesia emerging as other leading motorcycle parts manufacturers in the world. Currently, Engine and drivetrain parts are remaining as the largest motorcycle component product category in the global motorcycle parts industry. Meanwhile, tires and the products in the electrical and electronic, and other miscellaneous component categories, are expected grow with faster rates, due to higher replacement rates and suppliers relying on aftermarket parts sales for the bulk of their revenue.
The UK as One of the World’s Leading Motorcycle Parts Suppliers
The UK motorcycle and motorcycle parts industry has remained a strong performance over the past few decades. The total sales of motorcycles in the UK are now worth over US$7.5 billion per year. The industry also generates over US$ 641 million in exports per annum. The motorbike parts market in the UK also remains stable and expected to reach to its full heights in the coming few years. The UK made motorcycle parts and accessories are quite famous all over the world for its design and durability, therefore have gained huge loyalty and popularity among the motorcycle enthusiasts from the world the world.
Differentiated from those emerging economies where motorcycle parts demand is high due to riding motorcycle is a cheaper and popular alternative transportation method to driving, the UK’s motorcycle parts industry is more focusing on high-end and quality products. However, with the growing economies in major motorcycle markets around the world, including emerging markets, the motorcycle part products made in the UK are expected to gain more popularities.
Connect with the Top Motorcycle Parts Manufacturers and Suppliers in the UK
The prominence of the motorcycle and motorcycle parts industry in the UK has attracted a significant number of buyers and traders from all over the world to buy motorcycle components and accessories in the UK. To help your motorcycle business stays at the top of the industry, BizVibe provides the best solutions to source the products and make the best business deals with the top motorcycle parts manufacturers in the UK. Don’t miss your chance to connect with the best industry suppliers, manufacturers, and exporters on BizVibe.
Whether you’re conducting competitive research or looking for new and reliable suppliers, quality producers or top wholesalers, BizVibe makes it easy to grow your business. No matter what your professional goals, BizVibe will help you reach them by introducing you to key industry players and decision-makers across the globe.
The UK’s top motorcycle parts suppliers on BizVibe:
- Key Facts You Need to Know about UK’s Manufacturing Sector
- Auto Parts Manufacturing in Canada Expecting Big Growth
- Tire Industry in the USA Expects Steady Growth