According to a new report by UnivDatos, the automotive sprocket market is expected to reach USD Million in 2033 by growing at a CAGR of 5.1%.

Growing Two-Wheeler Sales: With growing sales of two-wheelers, the demand for components such as sprockets is also growing, leading to the growth of its market.

Shift Toward Lightweight and Durable Materials: The growing demand for fuel efficiency, lower emissions, and enhanced vehicle performance is supporting the demand for lightweight and durable materials for the manufacturing of sprockets.

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North America significant market size: Well-established automotive industry, high vehicle ownership rates, and strong demand for maintenance and aftermarket services lead to its significant market share in the automotive sprocket market.

Asia-Pacific Growth: Rising demand for electric two-wheelers, increasing urbanization, and government initiatives supporting electric mobility are leading to significant growth in the automotive sprocket market.

The automotive sprocket market is rising with significant growth in the production of two-wheelers and internal combustion engines all over the world, especially in the regions of India and Southeast Asia. The growth of per capita income, urbanization, and the need for energy-efficient personal transportation are contributing to the growth in the demand for two-wheelers. Additionally, the increasing number of vehicles and the replacement need for sprockets in the aftermarket segment are boosting market growth. Technological innovations in the lightweight sprockets, noiseless sprockets, development of hybrid electric two-wheelers, and a shift toward electric bikes also contribute to the growth of the sprockets market.

Growing Two-Wheeler Sales

The increased consumption of two-wheelers simultaneously increased the demand for automotive sprockets, especially in countries where two-wheelers are widely used. For instance, according to the International Energy Agency report, India, China, and Association of Southeast Asian Nations (ASEAN) countries are the biggest two- and three-wheeler markets worldwide. In 2023, sales of 2/3Ws in these markets, including both electric and ICE powertrains, reached 19 million, 17 million, and 14 million units, respectively. Two-wheelers rely on chain and sprocket systems for the transmission of power, thereby making sprockets a crucial component. The growing population, urbanization, traffic problems, and relatively higher fuel costs have made people look for two-wheelers that have relatively lower fuel consumption rates. Moreover, the use of motorcycles, either for personal or commercial purposes, such as food delivery services and ride-hailing, also increases the demand for sprockets in the automotive industry.

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According to the report, the North America region holds a significant market share in the Global Automotive Sprocket Market

The automotive sector in North America accounts for a large share of the global automotive sprocket market as the region boasts a mature automotive industry, high vehicle density, and a strong need for automotive sprocket replacement and repair services. North America has many internal combustion engine vehicles that use timing sprockets, especially in light trucks and passenger cars. Additionally, the presence of a large number of automobile manufacturers, rising demand for high-quality performance parts, and increased potential for electric and hybrid cars are some of the factors that further flourish the North American market.

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