The motorcycle industry has been on a steady growth trend, even amid global disruptions like the pandemic. According to a recent report from the Insurance Institute for Highway Safety, on-road motorcycle registrations increased by 0.7% in 2023. Since the pandemic began, on-road motorcycle registrations maintained an average annual growth of 0.9%, suggesting an enduring interest in motorcycle ownership. When we look back over the past two decades, the number of registered on-road motorcycles has nearly doubled from 2003 to 2023. If this trend continues, we may see on-road motorcycle registrations reach 10 million for the first time by the year 2030.
This consistent growth offers a promising outlook for original equipment manufacturers (OEMs) and aftermarket brands, as it indicates a sustained demand for motorcycles and replacement parts. Our recent survey, targeting motorcycle consumers, delved deeper into the landscape of motorcycle replacement parts to understand their brand preferences and buying behaviors. We sought to uncover insights into what drives consumer choices, how brand perceptions influence purchasing decisions, and where consumers are most likely to purchase parts.
General Purchasing Behavior
In the past year, the majority of respondents reported purchasing parts for their motorcycles, with tires and wheels topping the list at 64%. This was closely followed by electrical systems (59%), accessories or cosmetic products (57%), and lighting parts (53%). Maintenance tools and equipment were also commonly purchased, with 49% of respondents.
When it comes to spending, motorcycle owners demonstrate a willingness to invest in their motorcycles. Engine parts, suspension components, and tires or wheels were the highest expenditure for the lifetime of their current motorcycle, often exceeding $1,000 on average across all respondents. In the last 12 months alone, consumers spent an average of $664 on engine parts and $518 on tires and wheels.
Preferences Between OEM and Aftermarket Parts
Motorcycle consumers exhibit a flexible and balanced approach when choosing between original equipment manufacturers (OEMs) and aftermarket brands. Our survey revealed that many riders are open to purchasing from both sources, with their preferences often varying based on the type of part. For instance, there is a slight preference for aftermarket options when it comes to maintenance tools and performance-tuning parts. This choice may be driven by the wider variety, customization options, and competitive pricing commonly found in the aftermarket sector.
Conversely, for critical engine components, respondents showed a slight preference for OEM parts, likely due to a stronger trust in the manufacturer’s quality and assurances. Despite these tendencies, a significant number of motorcycle consumers reported having no strict preference between OEM and aftermarket parts. Instead, they prioritize factors such as quality, price, and availability when making purchasing decisions.
Interestingly, most consumers did not perceive OEM parts as inherently safer than aftermarket parts, indicating growing trust in the reliability and performance of aftermarket brands. This trust is coupled with a willingness to invest in high-quality parts, even if they come at a higher price, underscoring the importance of durability and functionality over brand origin.
Price remains a key consideration, as consumers seek a balance between cost and quality. This balanced perspective highlights the need for both OEM and aftermarket brands to offer competitive pricing while maintaining high standards, ensuring they can meet the needs of discerning motorcycle enthusiasts in a competitive market.
Purchasing Channels for Motorcycle Parts
Motorcycle consumers utilize a variety of channels to purchase parts, with local motorcycle dealerships being the most popular choice, selected by 55% of respondents. Specialty motorcycle parts websites, like Revzilla and Cycle Gear, are also popular choices with 53% of respondents. Less than half of respondents (47%) turn to large online retailers like Amazon or eBay. Other notable channels include purchasing directly from the manufacturers website, auto parts stores, and big box retailers.
Key Factors Influencing Purchasing Decisions
The main contributing factors when it comes to choosing motorcycle parts are the quality, the reputation of the brand, and ultimately the price. Our survey also revealed that consumers prioritize the reliability and durability of the parts they purchase, with many indicating that high-quality parts are essential for optimal performance. Manufacturers could demonstrate the superior craftsmanship or durability of their products to attract end users.
Brand reputation is key. Consumers tend to gravitate towards brands they trust, often based on past experiences, recommendations from fellow riders, or positive reviews. A strong brand reputation can be a significant differentiator in the market.
Price is also important. Many respondents highlighted the need to balance cost with quality, suggesting that while they are willing to invest in higher-priced and higher-quality parts, they still want to get the best value. This balance makes it crucial for both OEMs and aftermarket brands to offer competitive pricing without compromising on quality.
Brand Awareness and Perceptions
Our findings indicate that brand awareness and perception significantly influence consumer behavior. Respondents showed a high level of awareness of certain brands across product categories.
In the motorcycle battery market, Yausa was the most recognized brand. 75% of respondents recognized the brand and gave Yausa the highest rated score based on the perception of quality, 3.4 out of 4. Other familiar brands included Interstate Battery (66% awareness), and Energizer (64% awareness), both of which had lower perceived quality scores of 2.8 out of 4, indicating room for improvement in perceived quality. Shorai, recognized by 44% of respondents, performed better with a perceived quality score of 3.2 out of 4.
For motorcycle tires, Bridgestone and Dunlop were the most recognized brands, known by 87% and 86% of respondents. However, it was Michelin, the third most recognized brand at 75%, that received the highest quality rating at 3.5 out of 4. Dunlop followed closely with a score of 3.4 and Bridgestone with a score of 3.2.
In the helmet market, Shoei and Arai stood out for their perceived quality. Although Shoei was only the fourth most recognized brand (59% awareness), it received the highest quality rating of 3.7. Arai, with 66% awareness, also scored highly at 3.6. Bell, the most recognized brand at 71% awareness had a lower score for perceived quality but remains the most frequently worn helmet among riders.
In the motorcycle exhaust market, Yoshimura was rated the highest for quality, with a score of 3.6 out of 4, despite not being the most recognized brand. Meanwhile, Cobra, the most recognized brand, scored lower in quality perception at 2.5.
These are just a few categories we focused on in our survey.
Consumer Spending
On average, respondents reported spending significant amounts on key components over the past year, with engine parts leading at $664. Suspension parts followed closely at $538, while fuel systems and tires or wheels also saw substantial spending, averaging $529 and $518, respectively. These numbers highlight a strong commitment to maintaining and upgrading essential motorcycle components to ensure optimal performance and safety.
When it comes to replacing parts, consumers show varying habits depending on the type of part. For instance, most respondents reported replacing their motorcycle batteries approximately every 3.3 years, with some waiting until the battery stops working before making a purchase
What’s Next
As the motorcycle industry continues to grow, OEMs and aftermarket brands have a unique opportunity to capitalize on evolving consumer preferences and behaviors. Moving forward, manufacturers should focus on enhancing the quality and reliability of their products to meet the high standards demanded by motorcycle consumers. Investing in building and maintaining strong brand reputations will be key, as trust and recognition significantly influence purchasing decisions. Expanding accessibility through multiple purchasing channels, such as online platforms and local dealerships, will also be crucial to catering to consumer convenience and preference. Furthermore, offering competitive pricing without compromising on quality will help capture a larger share of the market.
