Two-wheeler Brakes Market

According to a research report "Two-Wheeler Brakes Market by Type (<100, 101-125, 126-150, 151-200, 201-250, >251 Cc), Vehicle Type (Motorcycle, Scooter/Moped, e-Scooter & e-Motorcycle), Product (Disc, Drum & ABS), End-Use (OEM, Aftermarket) and Region - Global Forecast to 2027" published by MarketsandMarkets, the two-wheeler brakes market size is expected to grow from USD 1.2 billion in 2022 to USD 1.7 billion in 2027, at a CAGR of 6.8%.

The two-wheeler brakes market will be growing briskly over the projected period owing to technological advancements in braking systems. Additionally, the government regulations mandating ABS and combined braking for two-wheelers with >125cc would drive the two-wheeler brakes market.

Commuter motorcycles are projected to showcase the largest demand over the forecast period

though developed countries like the USA have always preferred heavy-weight motorcycles with higher output for touring and long-distance riding, commuter motorcycles have always been a consumer choice in developing countries like India. Developing countries have dense populations with high populations of middle-class people who opt for commuter bikes with awareness for safety in braking systems to avoid accidents. Continental (Germany), in October 2021, showcased its new ABS for 100cc two-wheeler, which will be launched in the next couple of years, as Asian governments will be mandating ABS on 100cc bikes too. TVS motors, in November 2021, introduced the ABS + SBS braking system for their premium bikes, considering the road accidents and regulations by the government. Rising per capita income in developing countries and easily available low funding options at lower interest rates are driving the sales of two-wheelers in Asian countries, which would boost the sales of two-wheeler brakes.

Two-wheeler aftermarket to boost the sales of the braking system over the projected period

According to Marklines, in the year 2021, the worldwide demand for two-wheeler has increased by 7.4% YOY which is 47.8 million units. In Asia-Pacific region, the sales growth was increased by 2.5% which is 34.8 million units, which contributed 72.8% of the total demand. Considering the production and sales of two-wheeler, 17.85 million units were sold in China which was the highest in past five years and in India 13.46 million units were sold standing on second position after China. Governing bodies from India and ASEAN are promoting electric bikes, where major key players from this region are introducing different models with variety of range. According to China Association of Automobile Manufacturers (CAAM), 3.2 million units of electric vehicles were sold in 2021 and the adoption of electric two wheelers will rise up to 15 million units in upcoming years. Zhejiang Luyuan Electric Vehicle Co., Ltd. from China stays on top position to sell 637,592 units of electric vehicles in 2021. Whereas in India, FAME-II (Faster Adoption and Manufacturing of Electric Vehicles), is highly promoting electric vehicles by increasing the subsidy from USD 1,22.8 to USD 184.3 and also aimed for converting 150cc or less capacity vehicles into pure electric two-wheeler adoption by 2025. With the increasing sales of two wheelers, the parc is also increasing. The new startups and emerging players are making significant contribution with their new products design and technology. Most two-wheelers these days are equipped with disc brakes for safety reasons, so the sales volume for disc brakes is growing. Hence, demand for disc brakes and its friction products would have more potential in aftermarket. Scooters and mopeds are mostly preferred in this region, as they are equipped with drum brakes at rear and front disc brakes.

Considering western countries motorcycles are preferred in many countries (except in countries like Italy). Rules and regulations have been implied by governing bodies to adopt disc brakes on both wheels considering the accidental cases of the bike due to drum brakes. So, the demand for disc brake and friction products is high in Europe and North America in aftermarket sales and service. These factors will be boosting the two-wheeler brake aftermarket

Companies like Brembo (Italy), TRW (UK), Nissin (Japan), ADVICS Manufacturing (USA), Haldex Group (Sweden), Hyundai Mobis (South Korea), Mando Corporation (South Korea), and Akebono Brake Industry Co. LTD (Japan) are the major key players in aftermarket sales.

Asia Pacific is expected to grow at the highest CAGR during the forecast period

Asia Pacific is expected to grow at the highest CAGR of 5.3% during the forecast period, followed by Europe. The two-wheelers market is high in Asian countries like India, Pakistan, Indonesia, Philippines, etc. These countries have narrow roads, poor infrastructure, and less income than western countries. Many governing bodies have been stringent on road safety to avoid fatal accidents by a mandate for ABS from April 2019. for vehicles above 125cc in many Asian countries. Two-wheelers brands are launching bikes according to customers' preference has driven the market for brake system

Companies like Endurance Technologies Limited (India), Brembo S.p.A (Italy), EBC Brakes (England), SBS Friction A/S (Denmark), Nisshinbo Holdings (Japan), Tenneco Inc (USA), and others are the top players in the two-wheeler market. New product development, partnership, and joint venture strategy have been the most dominating strategy adopted by major players from 2019 to 2022, which helped them to innovate their offerings and broaden their customer base.

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