The value increase of the motorcycle and scooter spare parts industry was measured from 2012 to 2020 and showed a beefy 5.2 annual increase rate across the board.
Record highs were logged in 2019, with the output value of the first quarter alone reaching an average of USD$1.29 billion. As if that weren’t all, the end of the year saw the spare parts industry value balloon out to a mind-boggling USD$4.4 billion.
2020 saw an even larger increase, hitting USD $4.7 billion by the end of the year, despite ongoing restrictions.
The overall increase in industry value is also apparently due to the explosion of exports in both gas-powered and electricity-powered motorcycles and scooters and the sale of ebikes.