Challenges in the Motorcycle Industry
In addition to the existing ones, every year brings new challenges to manufacturers and firms in different industries; the motorcycle industry is no exception, especially with its auto parts department. Unfortunately, 2023 could see even more challenges with all the significant changes. As we slowly move into the new year, several problems are becoming more evident. Here are some of them.
The Challenge to Keep Up with Technological Advancements
Technology is changing and developing faster than ever, especially within the motorcycle industry. Every day, news of new inventions and innovations hits the airwaves. Most automakers have been announcing their plans to move into electrification. However, how fast the stories will take over the industry or succeed is unclear. If it does, imagine that most motorbikes will be electric-powered in the coming years. Motorcycle owners will not need new filters, plugs, oils, or other parts. Does this mean that the auto parts industry will be washed away? Will they be ready to improvise and have the ability to adapt in time to keep up with these changes? What will the retailer or supplier do when their stock is not needed anymore?
Boom and Bust Times
An exciting give-and-take exists between the motorcycle industry and its aftermarket. It is worth noting that both industries actively depend on the customer’s willingness and ability to spend their money. Even though the motorcycle industry relies on customers who want to purchase new, the aftermarket relies heavily on older motorcycles willing to pay for tune-ups and replacement.
The auto industry has hit a historical high with new motorcycle sales. However, 2020 wasn’t exactly a stellar year for them. The industry experienced an estimated 6% decrease in sales and profit. With all the distractions and mobility issues, this doesn’t come as much of a shocker.
Delayed Custom Clearances
The auto parts department has experienced an infamous evolution when releasing spare parts from custom offices. These recent delays have affected distributors’ ability to deliver timely services and commodities to their customers. Before all these happened, the release time for spare parts was a maximum of two days. However, clearance can take up to two weeks to be issued, causing a significant delay in operational work and product delivery. In the long run, this deceleration might pave the way for increased supply and use of fake parts and products to provide a more comfortable and faster alternative. This is an agonizing strand for taxpaying stakeholders and the marketplace in general. The entire business system will be affected.
It is rare for motorcycle owners not to complain about the cost of auto parts. This is because the production cost is also high. In addition, transport fees, staff costs, and many other factors still need funding. Therefore, getting authentic parts will have to cost you that extra penny.
Despite all these setbacks, the industry continues to hold its place in the country’s economy. Even though the growth has slowed, the foreseeable future still has a ray of hope in it.
A motorcycle is a better option than a car, especially for people living in urban areas. Having a car means you spend a lot of time stuck in traffic. A motorcycle, on the other hand, offers efficiency and flexibility. Someone with a motorcycle will not spend as much time in traffic as with a car. They can easily maneuver through traffic and reach their destination on time.
Trends Shaping The Motorcycle Industry
Motorcycle technology has improved tremendously over the years. For instance, the industry now has electric motorcycles, which most prominent brands are getting on board with making instead of conventional fossil fuel motorcycles. When electric motorcycles first hit the market, they were pretty expensive. However, with more brands getting on board with making custom designs and improving the features, they have become affordable.
One can choose from a wide range of motorcycles depending on the features they are looking for. Listed below are the top trends shaping the future of the motorcycle industry in 2023.
As mentioned earlier, the electric motorcycle is one of the significant motorcycle improvements. More companies are making electric motorcycles now, which is also part of the go green initiative to do away with a combustible engines. Considerable improvements include reduced charge times, longer battery life, more safety options, and mind-blowing designs.
Electric motorcycles will hugely shape the future of the motorcycle industry in 2023 because it has so much to offer. Most features they have are what you see in science fiction movies, but the difference is they are real.
Signal Functions and Light Controls
Motorcyclists are often involved in more road accidents because it is hard for vehicles to Spot them. In most cases, they usually wear reflectors to increase their visibility. However, there have been better improvements in motorcycle technology to ensure that they are more visible to other road users.
There are better illuminative options that a motorcyclist can now choose. This technology offers LED lights for your motorcycle, which adds to your ride’s aesthetic and ensures safety. In addition, you can adjust the lights to make traffic signals on the road; even better, you can control them from your mobile phone.
Motorcycle Stability Control, Anti-Lock Braking System, and Side View Assist
Motorcycle Stability Control (MSC), Anti-lock Braking System (ABS), and side view assist are trends shaping the motorcycle industry’s future in 2023. They are being incorporated into motorcycles to prevent accidents and ensure a motorcyclist’s safety. Rainy weather conditions are often not the best for motorcyclists because something as simple as abrupt braking or hitting a stone could lead to a fatal accident.
Liquid Cooled Motorcycles
This design is excellent for both the motorcycle system and the motorcyclist. It offers better motorcycle designs and can reduce the noise often heard from motorcycle engines. In addition, motorcyclists often experience heat during warm weather conditions, which this design takes away so you can comfortably ride during warm weather.
While manufacturers are making motorcycles more advanced in technology, they have not left out the motorcycle helmet. They are making a helmet that allows motorcyclists to interact with their bikes. The helmets have voice control, noise cancellation, Bluetooth connectivity, and rear and front-view HD cameras.
The design will also feature a map that can be projected on your visor screen to navigate roads easily, headphones and a microphone that allow you to take calls without necessarily having to use your phone, and an inbuilt camera light sensor. Even better is that they make visibility technology to ensure motorcyclists can be seen when riding in snow, fog, and rain.
More manufacturers are getting into making motorcycles because they increase mobility. As mentioned earlier, urban cities are usually congested, and most people have vehicles as their primary source of mobility. This means there is always a lot of traffic, which is inconvenient as it causes congestion and pollution on the roads. Therefore, having a motorcycle is a better option for mobility, and they are also more affordable.
Motorcycles are more efficient and are more accessible to everyone. It is a trend that people are picking on, and more people will likely have a bike as their primary source of mobility to get around in the future.
Retro Inspired Motorcycles
The industry has shifted from retro motorcycles, and more people are going for retro-inspired motorcycles. While retro motorcycles were great backtheny, there have been tremendous technological changes in the motorcycle industry. Therefore, motorcycle manufacturers are making retro-inspired motorcycle designs with more advanced and better features. The retro-inspired motorcycles ensure motorcycle enthusiasts can buy bikes with that old look but better features.
2023 will see the advancement in motorcycle security systems. Rider safety is one of the top priorities of most motorcycle manufacturers. Better security systems will ensure fewer motorist accidents in the future.
A security system is in place that warns the rider about impending and surrounding dangers, and even more security systems are being developed. The security systems being implemented to ensure motorist safety features one would not have imagined possible a couple of years back.
With the advancement in motorcycle technology, it is only fitting that the rider ergonomics are factored into the improved designs. The seat height and correct rider position will improve the rider’s safety, comfort, and low fatigue chances. For instance, if you are not comfortable on your motorcycle and have been on the road for a long, you are likely to get tired, which might lead to an accident.
While companies are going for retro-inspired motorcycles, some are creating more sleek designs. As a result, manufacturers are producing more futuristic, lightweight motorcycle designs that one would not have thought possible a couple of years ago.
Motorcycle Industry Stats and Growth Projections in 2023
While the pandemic set most market sectors back, the motorcycle industry is bound to do better in 2023. A motorcycle offers mobility and liberation for people looking to ensure safety measures and maintain distance. Motorcycles are also viable because one will not be subjected to sitting in traffic for long hours. Listed below are the top 10 must-know statistics of the motorcycle industry.
- Sales – Although sales decreased to about 15.7% due to the pandemic, they are projected to rise due to individuals’ demand for mobility. People want to move alone now more than ever and avoid public transportation.
- Demand – There has been a rise in demand for motorcycle manufacturing. Manufacturers have been able to develop more designs to cater to different customers. As a result, there has been a significant growth of about 4% in the motorcycle manufacturing industry in the United States.
- Designs – With the introduction of electric motorcycles, more companies are getting on board and developing customized models. 2023 will see a rise in more of these electric motorcycles. The more improved the features, the more likely the price will be high.
- Lucrative Market – Germany is the most lucrative market in the motorcycle industry for manufacturers due to the high demand for various motorcycle types and advanced manufacturing hubs. In the third quarter of last year, the industry saw a 309.1% growth.
- Leading Motorcycle Type – Cruisers are the leading type of motorcycle in the industry. They are equipped with advanced accessories and audio, stylish and beginner-friendly. Therefore, most consumers prefer them to other models.
- Technical Advancements – With technological improvement, motorcycles are now more sophisticated. They are not only safe but also quite comfortable and luxurious. Features like ABS are propelling their sale.
- China – Most motorcycle manufacturers are eyeing China because their industry makes up to 1.6 million sales annually. It is one of the key markets in the Asia Pacific region.
- Heavyweight Motorcycle Manufacturers – India is the world’s largest motorcycle market. Although they made losses during the pandemic, they are projected to increase sales in 2023 and the coming years. Their post-pandemic recovery sales were 32%.
- Motorcycle Market – The motorcycle market in the United States has grown tremendously over the past couple of years by about 75%. It is projected to grow in 2023, especially with motorcycle technology advancements.
- Challenges – While motorcycle manufacturers have made a lot of progress with the design, features, and added safety of motorcycles, they also face some challenges. Most people have not fully embraced buying motorcycles because they believe they are unsafe. As a result, 80% of motorcyclists killed in road accidents often sustain head injuries. Motorcycles are also listed as one of the most dangerous means of road travel.
The motorcycle industry is bound to get bigger, especially with technological advancement. In addition, more people will buy motorcycles when their safety is guaranteed. The above-listed trends are shaping the motorcycle industry’s future in 2023 and will likely improve in the coming years.