The production and sales of motorcycles has witnessed a significant rise in recent years, especially in emerging economies owing to their enhanced level of fuel efficiency in comparison to four wheelers and constant rises in the global prices of fuel. Moreover, the overall cost of natural gas has nearly doubled in the past five years, which is expected to contribute positively towards the growth of motorcycle chain sprocket manufacturers in the near future. In addition, the rising prices of fuel has encouraged consumers to choose two wheelers over four wheelers, largely owing to the poor fuel efficiency of the most four wheelers, which is generating a higher demand for motorcycles, and consequently for motorcycle chain sprockets as well.
Moreover, rising incidences of traffic jams urbanized areas is also expected to noticeably boost the demand for motorcycles, and chain sprockets, owing to increased maneuverability and fuel savings. This has increased the global ration of motorcycles to cars, thereby creating improved prospects for manufacturers in the years to come.
Poor Road Infrastructure Boost Aftermarket Servicing Demands
Another major factor that can greatly impact the motorcycle chain sprocket producers is road transport. The replacement or life duration of these automotive components relies heavily road conditions. While motorcycle chain sprockets can last for around five years, with regular servicing and oiling while operating on smooth roads, the total lifespan significantly drops on rough roads, or impact of potholes, which even adds to the requirements of maintenance activities. Owing to this, the aftermarket demand for servicing for motorcycle chain sprockets is expected to rise in developing countries, where road transport infrastructure is irregularly developed.
On the other hand, growing awareness about environmental concerns is also hindering the growth of the motorcycle chain sprocket market. The rising level of emissions and the resultant air pollution from conventional automobiles are strongly fuelling the growth of electric vehicles. Numerous governments across the world are promoting the purchase of electric two wheelers, which can reduce the number of conventional motorcycles and consequently the requirement for motorcycle chain sprockets. This is particularly true in emerging economies such as Thailand, Indonesia, China, and the Philippines, where the use of two wheelers is very common, in comparison to that of developed countries such as the European Union, or the United States.
Recreation Activities to Increase Sales of Motorcycle Chain Sprockets
While, the use of motorcycles has been low in developed countries until recent times, the rising interest in motorcycles riding for recreational purposes in the past few years, in nations such as the United States and Canada have contributed to the need for two wheeler parts in these regions.
Events which promote cross-country motorcycle riding or racing have gained popularity in recent years, and have created demand for high-power motorcycles, engines, and appropriate components, that can withstand the rigorous demand of such activities.
As a result, motorcycle chain sprockets that are compatible with O-type or X ring configurations are anticipated to see a higher rate of demand, to meet the increasing sales of high-end motorcycle variants.
The trend of recreational motorcycle riding is also growing in emerging economies owing to the rising disposable incomes of the middle class population base in these regions, creating new opportunities for motorcycle chain sprocket producers.
Technological Innovations Enhance Performance
Manufacturers are focusing on expanding their operations to countries in the Asia Pacific, owing to easy and cost-effective availability of raw materials and skilled labor, in addition to production-favorable regulations being set by local governments.
In addition, motorcycle chain sprocket producers are investing increasingly in the development of innovative products that feature new aspects such as reduced drag and high durability for increased lifespan.
For example, Ognibene S.p.A. a new range of silent sprockets for motorcycles that make use of rubber profiles on the sides, which significantly reduce noise during operations, while simultaneously increasing the lifespan, in combination with stainless steel, and molybdenum or chrome.
Similarly, CeraDure has introduced its range of lightweight sprockets for racing motorcycles that make use of aluminum parts that are protected by a patented layer of ceramic, in addition to self-lubricating coating of PTFE Teflon.
To gain additional information on the workings of the global motorcycle chain sprocket market, click here.