New York, US, July 18, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Racing Motor Bike Seat Market Analysis by Product Type (Vinyl, Leathers, Artificial Leather) Seat Height (Low, Medium, High) Bike Type (Lightweight Racing Bike, Middle Weight Racing Bike, Super Bike) Sales Channel (OEM, Aftermarket) Forecast 2030” valuation is poised to reach USD 8,000 Million by 2030, registering an 5% CAGR throughout the forecast period (2022–2030).
Racing Motor Bike Seat Market Overview
The growing trend of heated seat technology will offer robust opportunities for the market over the forecast period. Heated seat technology is a popular option for racing motorcycles. In cooler autumn temperatures, the heated seats offer a comfortable & pleasant ride, reducing driver fatigue and aiding passive safety on the highway. For example, heated seats are available on BMW racing motorcycles, which improves the driver's comfort.
Racing Motor Bike Seat Market Report Scope:
| Report Metric | Details |
| Market Size in 2030 | USD 8,000 Million |
| CAGR (2022-2030) | 5% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Seat Height and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | LePera Enterprises, Raceseats, Saddlemen, ROLAND SANDS DESIGN, INC., Corbin-Pacific Inc, Mustang Seats, XPC Racing, Triple K Upholstery, Renazco Racing Dual Sport Seats |
| Key Market Opportunities | Growing Trend of Heated Seat Technology to offer Robust Opportunities |
| Key Market Drivers | Growing Need for Racing Cars and Rise in Racing Bike Events to Boost Racing Motor Bike Seat Market Growth |
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Drivers
Growing Need for Racing Cars and Rise in Racing Bike Events to Boost Market Growth
Increased need for racing bikes, combined with an increase in the number of racing bike events, will eventually support the market. Furthermore, these seats are in high demand in the aftermarket because these bikes are utilized for off-road applications (more tear-off), which will likely drive the demand for the market.
Focus to Decline Bike Weight to act as Market Restraint
The rising focus to decline bike weight for the implementation of strict emission norms may act as a market restraint in the forecast period. Due to the increased emphasis on reducing bike weight as a result of the implementation of strict emission norms, bike manufacturers are hesitant in adopting racing motor bike seats due to their heavyweight. This is limiting global market growth even further. Besides, high costs of bikes may also impede market growth.
Rising Concerns about Safety to act as Market Challenge
The growing shift in the consumer preference for cars for travel, as a result of growing safety concerns and rising motorcycle accidents due to over-speeding, is dampening sales of racing bikes, thereby limiting need for the racing motor bike seat market. This may act as a market challenge.
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Racing Motor Bike Seat Market Segments
The racing motor bike seat market has been bifurcated based on product type, seat height, bike type, and sales channel.
By product type, the racing motor bike seat market is segmented into artificial leather, leather, and vinyl.
By seat height, the racing motor bike seat market is segmented into high, medium, and low.
By bike type, the racing motor bike seat market is segmented into super bike, middle weight racing bike, and lightweight racing bike.
By sales channel, the racing motor bike seat market is segmented into aftermarket and OEM.
Racing Motor Bike Seat Market Regional Analysis
North America to Steer Racing Motor Bike Seat Market
North America is expected to grow rapidly in the market between 2022 & 2032. Sturgis Motorcycle Rally, Daytona Bike Week, Bama Bike Fest, Motorcycle Grand Prix (MotoGP), and many others are among the growing number of bike racing events and biking festivals in North America. Furthermore, sales of racing bikes are increasing in countries such as the United States and Canada, owing to increased recreational activities associated with sports bikes & rising trends of using superbikes among millennials. This will drive the market growth. To capitalize on the growing trend of bike racing activities, leading bike manufacturers are increasingly emphasizing the introduction of novel sports & racing bikes having innovative features. For example, BMW, a German multinational corporate manufacturer of motorcycles and luxury vehicles, announced the introduction of two new sports bikes, the BMW R 1250 GS and the BMW R 1250 GS Adventure, in 2021, with advanced features like dynamic brake assistance, heated seats, electronically adjustable suspension, & others.
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COVID-19 Analysis
The rapid spread of COVID-19 epidemic has caused significant disruption in a variety of industries around the world. Private and commercial fleets were among the major market end-users who were severely impacted by the pandemic.
Since the outbreak of COVID-19 in the end of 2019, there followed three epidemic infection waves across the globe: 1) The first wave was amid early spring & summer of 2020, when countries began to implement lockdown strategies; 2) The second wave saw infection rebound from October to the last of 2020, as few countries relaxed the social distance policies and lockdowns. 3) The third wave commenced in early 2021, coinciding with the commencement of vaccination campaigns in countries where lockdowns and travel restrictions had been lifted. Governments in countries with the concentrated automobile industries having taken the lead in developing mechanisms to promote social system restructuring and innovation in order to combat economic stagnation caused by the coronavirus disaster. If these activities are curtailed, the market is expected to grow at the desired rate.
LePera Enterprises, for instance, laid off employees in October 2020 due to declining sales. However, its overall revenue increased as a result of its prior expansion into China. COVID-19 epidemic had little effect on the company's performance in 2021. Again sales fell in early 2022 as a result of Chinese restrictions. This is because of a major push from the governments across the globe to phase out vehicles, the market was less harmed during the pandemic.
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Racing Motor Bike Seat Market Competitive Analysis
The global racing motor bike seat market is both fragmented as well as competitive on account of the presence of multiple international along with domestic industry players. Such players have used myriad innovative strategies for staying ahead and also sufficing to the customers surging need including contracts, collaborations, partnerships, contracts, joint ventures, new product launches, geographic expansions, and much more. Besides, they are also incorporating in myriad research & development activities.
Dominant Key Players on Racing Motor Bike Seat Market Covered are:
- LePera Enterprises
- Raceseats
- Saddlemen
- ROLAND SANDS DESIGN INC.
- Corbin-Pacific Inc
- Mustang Seats
- XPC Racing
- Triple K Upholstery
- Renazco Racing Dual Sport Seats
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