LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global motorcycle slip-on exhaust system market to register an impressive CAGR of almost 18% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global motorcycle slip-on exhaust system market for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The motorcycle slip-on exhaust system is widely adopted as an optional fitment in heavyweight motorcycles, particularly sports motorcycles. Additionally, the requirement of better performance through weight reduction is fueling the adoption of slip-on exhaust systems in the motorcycle market. Also, slip-on exhaust systems are easy to install, and they do not require professional help for the fitment.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global motorcycle slip-on exhaust system market:
Easy installation procedure and added benefits of slip-on exhaust systems compared to stock exhaust systems
Installation is one of the prime factors contributing to the adoption of aftermarket kits as the complex installation requires the availability of skilled mechanics and increases the cost further. Motorcycle exhaust systems in the aftermarket are categorized into two types as discussed above: full system exhaust systems and slip-on exhaust systems. The full system exhaust system requires the replacement of whole exhaust components, while the slip-on exhaust system requires the replacement of just the muffler.
Siddharth Jaiswal, a lead automotive components research analyst at Technavio, says, “The slip-on exhaust system gives the benefit of better sound and style, which is given by the full system exhaust system. The weight reduction benefit is also achieved by the slip-on exhaust system compared to the stock exhaust system.”
Growth in the sales of sports-segment motorcycles pushing the demand for slip-on exhaust systems
The aftermarket segment contributes the highest to the motorcycle slip-on exhaust system market, and this segment is driven by the demand for slip-on exhaust systems from sports motorcycle owners. Additionally, OEMs like BMW Motorrad are offering the slip-on exhaust system as an optional fitment, pushing the demand for slip-on exhaust systems through the OEM-segment in the sports motorcycle category.
“The slip-on exhaust system has the highest adoption rate in the sports motorcycle segment, owing to the requirement of better sound and style features. This segment is expected to witness the adoption for slip-on exhaust systems as its favorable environment is keeping the growth intact during the forecast period,” adds Siddharth.
Growing viewership of premier racing events like MotoGP
The sale of racing motorcycles is a crucial driver for the global motorcycle slip-on exhaust system market. Hence, the performance of racing motorcycles directly impacts the adoption of slip-on exhaust systems. MotoGP is a prominent international motorcycle racing event, and its growing coverage and viewership are important for the growth of the global motorcycle slip-on exhaust system market.
The rise and enthusiasm for the motorcycle racing event is a positive trend for the global motorcycle slip-on exhaust system market during the forecast period. Additionally, emerging markets like India are also entering the viewership race with Ten Sports, inking a 5-year deal for broadcasting MotoGP in India from 2014 to 2019.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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