1.1 Definition and Classification of Motorcycle Parts Industry
The motorcycle parts industry refers to the production and sales activities of components and accessories related to the manufacturing and aftermarket of motorcycles. This industry covers a wide range of core components such as engines, transmission systems, braking systems, and frames, as well as auxiliary accessories such as instrument panels, wheels, seats, and lighting fixtures. According to their functions, motorcycle accessories can be divided into the following types: motorcycle engine assembly system, motorcycle transmission mechanism, motorcycle body mechanism, motorcycle electrical system, etc. Among them, the integration of motorcycle engine assembly system and electrical system is a high-end product in the industry and also the most profitable part of the market.
1.2 Development History of Motorcycle Parts Industry at Home and Abroad
The development process of the motorcycle parts industry can be divided into several stages. At first, the industry was mainly concentrated in major motorcycle producing countries such as Japan, the United States, and some European countries. With the shift of global manufacturing, China gradually became the main producer and exporter of motorcycles and parts in the world. The development of China's motorcycle parts industry began in the 1980s, and with the introduction of technology and the expansion of the domestic market, the industry grew rapidly. Entering the 21st century, China's motorcycle parts industry has begun to expand into the global market, with exports ranking first in the world for several consecutive years.
1.3 Industry scale and growth trend
According to the "Research Report on Supply and Demand Analysis and Development Prospects of China's Motorcycle Parts Industry from 2023 to 2028" released by China Research Institute Puhua Industry Research Institute, the export value of spare parts for motorcycles and bicycles in China in 2023 was 1.1258878 billion US dollars, a decrease of 2029.365 million US dollars compared to the same period in 2022, a year-on-year decrease of 13%. Despite a decrease in export value, the competitiveness of China's motorcycle parts industry in the global market continues to improve. According to statistics, the production of motorcycles in China exceeded 20 million in 2021, reaching a new high in nearly seven years. In 2022, the production and sales of motorcycles in China were 21.2922 million and 21.42 million respectively, with significant year-on-year growth in the production and sales of large displacement leisure and entertainment motorcycles.
The global motorcycle parts market reached billions of dollars in 2022 and is expected to reach even higher levels by 2030, with a stable compound annual growth rate (CAGR) of a percentage (2024-2030). The Chinese market holds an important position in the global motorcycle parts industry, not only due to its huge production capacity, but also because of its continuously growing export volume. With the recovery of the global economy and the increasing demand for personalized and convenient transportation among consumers, the motorcycle market is showing a steady upward trend, which directly drives the growth of the motorcycle parts and accessories manufacturing industry. In the next few years, the period of product structure adjustment in China's motorcycle parts industry will also be a new era for the healthy development of Chinese motorcycle parts.