Motorcycle Chain Sprocket Market

According to Stratistics MRC, the Global Motorcycle Chain Sprocket Market is accounted for $2336.73 million in 2023 and is expected to reach $4190.01 million by 2030 growing at a CAGR of 8.7% during the forecast period. A motorcycle's drivetrain system relies heavily on the chain sprocket, which transmits power from the engine to the rear wheel. Usually made up of two main components, the rear sprocket is mounted on the rear wheel of the motorcycle, and the front sprocket is attached to the engine output shaft; they are joined by a sturdy chain, the final drive ratio of the motorcycle is determined by how these parts interact, which affects acceleration, top speed, and overall performance. 

According to the Motorcycle Industry Council, the proper maintenance of motorcycle chain sprockets is crucial for ensuring rider safety, prolonging the lifespan of the drivetrain components, and optimizing overall motorcycle performance.

Market Dynamics: 

Driver: 

Demand for motorcycles worldwide

The growing global demand for motorcycles has a significant impact on the motorcycle chain sprocket market. This boom, which is more noticeable in developing nations, is caused by a number of factors, including rising disposable incomes, accelerating urbanization, and the demand for affordable transportation options. Moreover, as more people choose to ride motorcycles, there is a corresponding increase in demand for related parts, such as chain sprockets.

Restraint:

Increasing prices for raw materials

One of the main challenges facing the motorcycle chain sprocket market is the rising cost of raw materials, particularly metals like aluminum and steel. Commodity price fluctuations may have an effect on manufacturing costs, which may then have an effect on the total cost of production for chain sprockets. Additionally, it could be difficult for manufacturers to keep prices competitive while maintaining high-quality materials, which could result in a market where consumers are more sensitive to price.

Opportunity:

Electric motorbikes and eco-friendly transportation

Motorcycle chain sprocket sales have a lot of potential due to the growing popularity of electric motorcycles. As electric bikes become more and more popular, producers have the opportunity to create customized sprockets that meet the particular needs of electric drive trains. Furthermore, this includes factors like decreased noise, increased efficiency, and improved power transfer, which will carve out a specific market for chain sprockets for electric motorcycles.

Threat:

Market saturation and vigorous rivalry

There is a risk of market saturation for motorcycle chain sprockets, especially in developed economies where there may be an abundance of well-established products. Pricing pressure and shrinking profit margins may result from fierce competition among suppliers and manufacturers in a small market. However, to mitigate this risk, businesses must plan to set themselves apart through innovation or market expansion.

Covid-19 Impact: 

The COVID-19 pandemic has caused manufacturing, supply chain, and consumer demand disruptions, which have had a substantial effect on the motorcycle chain sprocket market. Motorcycle sales and production fell as a result of travel restrictions, lockdowns, and unstable economic conditions. Due to difficulties locating components and raw materials, manufacturers' production schedules were delayed. Moreover, the focus of consumer purchases also changed, moving away from non-essential items like recreational vehicles and their parts and toward necessities.

The Standard Chain Sprocket segment is expected to be the largest during the forecast period

The standard chain sprocket segment usually holds the largest share in the market. Commonly found in most two-wheelers, standard chain sprockets are a common feature of mainstream motorcycles and represent the conventional design and specifications. Moreover, these sprockets are widely available and adaptable to a wide range of motorcycle models due to their standard dimensions, tooth configurations, and materials. Because they can take advantage of economies of scale, manufacturers frequently produce standard chain sprockets in large quantities, which helps them maintain their market dominance.

The Aluminium segment is expected to have the highest CAGR during the forecast period

The aluminum segment of the motorcycle chain spurt market is growing at the highest CAGR in the market. The motorcycle industry's growing focus on lightweight materials to improve overall performance and fuel efficiency is credited with this growth. When compared to their traditional steel counterparts, aluminum chain sprockets provide a beneficial balance of strength and decreased weight. The market for aluminum chain sprockets has expanded as riders and manufacturers place a higher value on weight reduction for better handling and efficiency. Additionally, aluminum sprockets are especially common on sport and performance motorcycles, where maximum speed and agility depend on every ounce. 

Region with largest share:

The motorcycle chain boom market is anticipated to hold the largest share in the Asia-Pacific region. Asia-Pacific's dominance is fueled by the strong motorcycling cultures found in places like China, India, and Southeast Asian nations, where motorcycles are common means of transportation. The market for related parts, such as chain sprockets, has been driven by the growing middle class, urbanization, and rising disposable incomes in these areas, which have combined to create a significant demand for motorcycles. Additionally, a strong aftermarket and the existence of major motorcycle manufacturers support the region's sizeable market share. 

Region with highest CAGR:

The motorcycle chain sprocket market is expected to grow at the highest CAGR in the North American region. The region's growth is being driven by a resurgence of interest in motorcycling, which is being fueled by factors like the growing popularity of adventure motorcycles, the growing demand for customization, and a growing recreational biking culture. Because of its developed economy, the North American market offers riders the opportunity to purchase aftermarket upgrades, such as specialty chain sprockets. Furthermore, the need for sophisticated and specialized sprocket solutions is also fueled by the existence of a well-established motorcycle industry and a preference for high-performance, luxury motorcycles.

Key players in the market

Some of the key players in Motorcycle Chain Sprocket market include JT Sprockets, Tsubakimoto Chain Co., Rockman Industries Ltd., Izumi Chain, RK JAPAN Co., Ltd., L.G.Balakrishnan & Bros Ltd, Hengjiu Group, Regina Catene Calibrate Spa and Hangzhou Vision Chain Transmission Co., Ltd.

Key Developments:

In December 2023, L.G.Balakrishnan & Bros Limited approved to enter into a Business Transfer Agreement (BTA) with LGB Forge Limited (LGBFL) to purchase its Pondicherry Plant, as a going concern, on slump sale basis, for a lump sum consideration of Rs. 15 Crores, without values being assigned to individual assets and liabilities, on the terms and conditions more specifically defined in the said agreement.

In March 2019, Rockman Industries, part of the $6 billion (Rs 37,902 crore) Hero Group, has announced that it has acquired a strategic stake in the UK-based carbon-composite manufacturer, MCT Engineering through Moldex Composites. In a bid to be ready with next-generation materials as regulatory norms evolve, in January 2017, Rockman Industries had acquired a majority stake of 51 percent worth Rs 100 crore in carbon composites company Moldex Composites.

Types Covered:
• Standard Chain Sprocket
• Non-Standard Chain Sprocket
• Other Types 
 
Motorcycle Types Covered:
• Standard
• Cruiser
• Sports
• Mopeds 
• Other Motorcycle Types 

Chain Types Covered:
• Standard Rolling Chain
• O Ring Chain
• X Ring Chain
• Other Chain Types 

Materials Covered:
• Steel
• Aluminium
• Other Materials 
 
Engine Capacities Covered:
• Up to 150 CC
• 151-300 CC
• 301-500 CC
• Above 500 CC 

Sales Channels Covered:
• Original Equipment Manufacturer (OEM)
• Aftermarket

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances