NEWARK, Del, Oct. 13, 2022 (GLOBE NEWSWIRE) — The global off-road motorcycle market was valued at US DOLLARS$ 14.3 Bn in 2021 and is expected to reach US DOLLARS$ 27 Bn by 2032, finds Future Market Insights (IMF) in a recent market study. A new market research report from Future Market Insights on the Off-Road Motorcycles Market includes 2017-2021 Global Industry Analysis and 2022-2032 Opportunity Assessment. According to the report’s findings, motocross motorcycles will remain key to the market as the bulk of revenue will be generated from this category.
Motocross remains the leading category due to the growing popularity of motocross events
Motocross as a sport is growing in popularity, with an increase in demand for motocross bikes. Innovations both in motorcycles and events as a whole have increased their popularity. This category experienced a CAGR of 6.1% in 2017-2022 and has a projected CAGR of 5.6% in the forecast period 2022-2032.
Off-road applications encouraging use off-road motorcycles through Safety, community and trail planning features
A multitude of apps and websites aimed at off-road riders have sprung up over the past two decades. Features such as trail planning, community interaction options and safety alerts have led to a shift in the perception of dirt biking, allowing consumers to feel safer planning group trips. and solo.
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Technological improvements and preferential policies for electric vehicles are driving demand.
Preferential policies such as purchase tax exemptions for electric vehicles as well as reduced prices for lithium-ion batteries, a key component of off-road motorcycles, are positively affecting market demand.
Defense sector to drive demand for electric off-road motorcycles
Stealth operations require vehicles that can navigate difficult terrain, remain difficult to track with little or no detectable smell or emissions, and can wait in complete silence. Dirt bikes, especially those of the electric variety, are proving to be a popular solution.
“dirt bike suppliers work closely on developments in electric forms of off-road motorcycles in order to exploit the growing and preferential demand legislature.” comments an analyst from Future Market Insights.
off-road motorcycle Market: competitive information
Off-road motorcycle manufacturers mainly aim to create new design concepts, exploit new technologies, develop lower-cost models to appeal to a wider audience, and create more environmentally friendly versions of their products. . Major companies operating in the off-road motorcycle market include Harley-Davidson Incorporation, Yamaha Motor Co., Ltd., Ducati Motor Holding SpA, Honda Motor Co., Ltd. and Kawasaki Heavy Industries, Ltd.
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Some of the recent developments from leading off-road motorcycle suppliers are:
- In May 2022, Chongqing Qiulong Technology Co., Ltd, launched SUR-RON, an electric off-road motorcycle in China.
- In December 2021, The Harley-Davidson electric motorcycle brand, LiveWire, was spun off and taken public through a merger with acquisition company AEA-Bridges Impact Corp.
- In December 2021, India Kawasaki Motors has launched the M Y22L KLX450R, a purpose-built off-road motorcycle with a 4-stroke engine and greater amount of low-end torque.
- In October 2021, Volcon, which makes off-road electric motorcycles, has gone public, listing on Nasdaq with “VLCN” as its ticker symbol.
Key segments covered by the off-road motorcycles industry survey
Off-Road Motorcycles Market By Type:
- View Motocross Bikes
- Enduro motorcycles
- Trail Motorcycles
- Track racing motorcycles
Off-Road Motorcycles Market by Sales Channel:
- Retail sales
- Institutional sales
Off-Road Motorcycles Market by Region:
- North America Off-Road Motorcycle Market
- European off-road motorcycle market
- Asia-Pacific off-road motorcycle market
- Off-Road Motorcycles Market in the Middle East and Africa
- Off-road motorcycles market in Latin America
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market context
3.1. Market dynamics
3.2. Scenario forecast
3.2.1. Demand in the optimistic scenario
3.2.2. Demand in Likely Scenario
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More information available
Future Market Insights in its new offering presents an unbiased analysis of the Off-Road Motorcycles market, showcasing historical market data (2017-2021) and forecast statistics for the period 2022-2032.
The study reveals significant growth of dirt bikes in terms of type (motocross bikes, enduro bikes, trail bikes, dirt bikes) and sales channel (retail sales, institutional sales) in five regions (North America, Latin America, Europe, Asia-Pacific and Middle East and Africa).
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