VALLEY COTTAGE, New York, January 9, 2019 /PRNewswire/ --
Future Market Insights has conducted deep research on the motorcycle chain sprocket market and collected key information through primary and secondary research. The report, "Motorcycle Chain Sprocket Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2027,"studies the market dynamics and creates a forecast for the projected period. The Motorcycle Chain Sprocket Market report estimates that the standard rolling chain segment will dominate the market, in terms of both volume and value, due to increasing demand for standard motorcycles. The expected value of the global motorcycle chain sprocket market is projected to be approximately US$ 1,863.6 Mn in 2018 and the market is estimated to grow at a CAGR of 6.0% and will touch US$ 3,120.5 Mn by 2027 end.
Increasing Traffic Congestion Will Propel the Demand for Motorcycles, Which in Turn Will Fuel the Growth of Motorcycle Chain Sprocket Market
The sales of motorcycles is on the rise, mainly due to their higher fuel efficiency as compared to four wheelers and increasing prices of gasoline. In the present scenario, the cost of natural gas has doubled since the year 2012. This factor is expected to positively affect the growth of motorcycle chain sprocket market. Moreover, increasing prices of natural gas and gasoline have pushed consumers to opt for two wheelers over four wheelers, mainly due to the lower fuel efficiency of the four wheelers, which in turn propel the demand for motorcycles as well as accelerate the growth of motorcycle chain sprocket market. Furthermore, increasing traffic congestion in metro and urban areas will further propel the demand for motorcycles, which in turn, will boost the production of motorcycles and directly affect the growth of the motorcycle chain sprocket market. A decade ago, there was only one motorcycle for every 10 cars on the road, which has grown to nearly three motorcycles for every ten cars more recently. Hence, the increasing sales of motorcycles will directly impact the global motorcycle chain sprocket market over the forecast period.
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The replacement/lifecycle of motorcycle chain sprockets depends on the driving conditions on road. On smooth road conditions, motorcycle chain sprockets exhibit an operational life of approximately five years. However, regular maintenance is required, such as servicing and oiling. However, on uneven road conditions, the total lifespan of motorcycle chain sprocket declines and regular maintenance is required.
Attributing to the increase in tailpipe emission and air contamination caused by conventional automobiles are the important factors that fuel the growth of electric vehicles. Governments of some countries such as China - one of the largest producer of motorcycles and scooters, are aggressively endorsing electric two wheelers for transportation, which can stagnant the growth of the conventional motorcycles market, which in turn hamper the growth of motorcycle chain sprocket market.
Preview Analysis On Motorcycle Chain Sprocket Market: Superior Lubricating Properties of O Ring Chain to Increase Its Share in OEM and Aftermarket: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2027: https://www.futuremarketinsights.com/reports/motorcycle-chain-sprocket-market
Asia Pacific Projected to Dominate the Global Motorcycle Chain Sprocket Market Owing to Increasing Motorcycle Sales in the Region
The global motorcycle chain sprocket market report states that Asia Pacific will dominate the global market. In Asia Pacific motorcycle chain sprocket market, China is expected to dominate the market, in terms of both volume and value. China is estimated to hold significant value share in the motorcycle chain sprocket market in 2018 and will expand at a CAGR of 5.5% during the forecast period. By Chain type, the standard rolling chain segment, followed by O ring chain segment, will play an important role in generating motorcycle chain sprocket market revenue. This segment is projected to hold dominant share in the motorcycle chain sprocket market.
Motorcycle Chain Sprocket Market: Competitive Landscape
Some of the key participants reported in this study on the Global Motorcycle Chain Sprocket Market are Regina Catene Calibrate Spa, Rockman Industries Ltd., RK JAPAN Co., Ltd., TIDC India, JT Sprockets, Hengjiu Group, Jomthai Asahi Co.,Ltd, Jiangxi Hengjiu Chain Transmission Co.,Ltd, Hangzhou Vision Chain Transmission Co., Ltd., Tsubakimoto Chain Co., L.G.Balakrishnan & Bros Ltd., among others
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SOURCE Future Market Insights