Market Research Future (MRFR) has published a cooked research report on the “Global Off-road Motorcycle Market”that contains the information from 2019 to 2032.
The Off-road Motorcycle market is estimated to register a CAGR of 4.6 % during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global Off-road Motorcycle market— Honda Motor Co., Ltd., KTM, Kawasaki Heavy Industries Ltd., Yamaha Corporation, Husqvarna Group, Suzuki Motor Corporation, Ducati, Sherco, GasGas Motorcycles, Betamotor S.p.A., Triumph Motorcycle Ltd., and Stark Future.
Market Highlights
The global Off-road Motorcycle market is accounted for to register a CAGR of 4.6 % during the forecast period and is estimated to reach USD 12,510.2 million by 2032.
Off-road motorcycles are growing more popular in the global market for the most part due to rising trends in recreational activities and adventitious sporting events. Off road vehicle usage has increased in the recent past due to increased adoption of off-road activities. This is due to the fact that more fans are seeking for the new exciting outdoor activities that will propel the demand for off-road motorcycles. Also, the technology and designing aspects of such motorcycles are being enhanced to deliver high performances and safety that customers, both young and experienced, would want for their motorcycles. This is through considerable investment in the R and D of new features that are unique in the market, for example new suspension methods and higher levels of engine power, thus leading to growth in the market. Nonetheless, market has a number of challenges that act as setbacks in its operations. This is one area where the company has to contend with a number of constraints: the cost of these motorcycles. Off-road motorcycles cost much since they are technology enhanced and manufactured using quality materials. This high price point can be a substantial barrier to market penetration especially in the developing countries where consumers are sensitive to prices. Furthermore, high levels of environmental compliance and emissions control are putting extra costs on producers. Satisfaction of these regulations entails the use of cleaner technologies and more efficient engines at additional costs that makes the price of off-road motorcycles to be on the higher side. The off-road motorbike sector also has several opportunities for development. Asia-Pacific and Latin America regions are expected to have increasing off-road motorcycle demand due to rising urbanization and disposable income in the emerging economic zone. In addition, newer segments in sport and recreation such as adventure tourism and off-road racers are developing fresh revenue streams for manufacturers and service industries. All the above activities not only raise the awareness of the public concerning off-road motorcycles but also foster acceptance by the fans. In addition, the rising trend in EVs presents manufacturers with a with electric off-road motorcycles to develop.
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Segment Analysis
The global Off-road Motorcycle market has been segmented based on Type, Propulsion, Stroke, Engine Displacement, Application, and End Use.
Based on Type, the global Off-road Motorcycle Market has been segmented into Trail Dirt Bike, Dual Sport Bike, Enduro Bike, Motocross Dirt Bike, Adventure Bike, Trails Bike, and Others. The Enduro Bike segment accounted for the largest market share in 2023.
Based on Propulsion, the global Off-road Motorcycle Market has been segmented into ICE Motorcycle, and Electric Motorcycle. In 2023, ICE Motorcycle very high segment accounted for the largest market share.
Based on Stroke, the global Off-road Motorcycle Market has been segmented into 2-stroke and 4-stroke. 2-stroke accounted for the largest share in Off-road Motorcycle Market in 2023. The segment continues to attract racers and recreational riders who prioritize speed and lightweight handling. As manufacturers innovate to meet environmental standards, 2-stroke motorcycles will likely remain a favoured choice for riders seeking quick power delivery and nimble control.
Based on Engine Displacement the global Off-road Motorcycle Market has been segmented into Up to 125 cc, 126-250 cc, 251-500 cc, 501 cc and Above. 251-500 cc segment accounted for the largest share in Off-road Motorcycle Market in 2023.
Based on Application the global Off-road Motorcycle Market has been segmented into Racing Drivers/Professionals, and Motorcycle Enthusiast/Amateur. By the application Off-road Motorcycle market was dominated by Motorcycle Enthusiast/Amateur segment in 2023.
Based on End Use the global Off-road Motorcycle Market has been segmented into Adults, and Kids & Youth. In the year 2023, global Off-road Motorcycle market was dominated by adults segment.
Regional Analysis
By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South & Central America. North America consists of the U.S, Canada, and Mexico. North America is by far one of the largest markets for off-road motorcycles which is supported by the high spirit of people on touring activities as well as adventure sporting activities. Some of the largest customers in this market are the U.S. and Canada where consumers rely on off-road bikes for racing, cross country biking, motocross, trail riding, and adventure touring. Significant number of off-road trails, parks as well as racing events offered in the region contributes to the growth of the market. Furthermore, the moving consumers preferences towards adventure tourism is contributing to the demand for adventure and dual sports motorcycle. Manufacturers in North America are also concentrating on the innovation factor, introducing better technologies and safety equipment.
Off-road motorcycles are currently growing quickly in the Asia-Pacific region, which includes China, India, and Australia. Growing disposable money per capita and a growing desire for outdoor activities are the primary motivators. Off-road riding is more popular in Australia, a more developed market, whereas motorsport and leisure biking are becoming more popular in emerging economies like China and India. Young riders in poorer nations are increasingly choosing the less expensive off-road motorcycles. Additionally, there is push for adventure and dual sport motorcycles due to the region's growing interest in adventure tourism. Due to its enormous population and growing middle class, the Asia-Pacific area is expected to experience significant growth.
Key Findings of the Study
- The global Off-road Motorcycle market is expected to reach USD 8,172.80 million by 2032, at a CAGR of 4.6% during the forecast period.
- The Asia Pacific region accounted for the fastest-growing global market.
- Based on stroke, the 2-stroke segment was attributed to holding the largest market in 2023.
- Honda Motor Co., Ltd., KTM, Kawasaki Heavy Industries Ltd., Yamaha Corporation, Husqvarna Group, Suzuki Motor Corporation, Ducati, Sherco, GasGas Motorcycles, Betamotor S.p.A., Triumph Motorcycle Ltd., and Stark Future, among others are some of the players in the market.
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Companies Covered | 15 |
Pages | 128 |
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