The Off-Road Motorcycle Market has seen remarkable growth and it has been observed that its demand in future is expected to grow with the CAGR of ~9.58%.
The Off-Road Motorcycle Market has seen remarkable growth and it has been observed that its demand in future is expected to grow with the CAGR of ~9.58%.Off-road motorcycle refers to the non-road licensed motorcycle that are used for the recreational purpose or for riding off-the-road. They can be driven on all-terrain roads including trail roads and others. They are most prepared in racing course, competitions, and adventure.
The growth of the Off-Road Motorcycles is majorly driven by the emergence of off-road motorcycle training centres all across the globe. Many training centres have been set up such as Black Swan Moto Off-Road Training Program (California), BMW Performance Center Off-Road Motorcycle Training (South Carolina) among others. The growth in the development of off-road motorcycle training centres will enable growing purchasing power of the people. Since, training centres provide relevant skills and techniques, people will get more attracted towards buying the off-road bikes. This will increase the sales of bikes, which will impact the buying pattern of the customers.
Also, the rising demand from defence sector is expected to show growth opportunities over the forecast period. Technological development and the introduction of electric motorcycles and hybrid electric motorcycles have drastically changed the scope of the off-road motorcycle market, specifically in the defense application. There has been a considerable increase in defence budgets across the globe in major economies, which is expected to have a trickledown effect in the off-road motorcycle market. Apart from defence application, overall popularity and growing awareness regarding off-road motorcycling events and the dedicated core customer base of off-road motorcycle enthusiasts, are expected to majorly lead to the growth of the off-road motorcycle market during the forecast period.The prominent players in the off-road motorcycle market include ROKON (U.S.), Torrot (Spain), Husqvarna Motorcycles GmbH (Sweden), Alta Motors (California), Betamotor (Italy), Sherco (Spain), TRS Motorcycles (U.S.), Kuberg (Czech Republic), Honda (Japan), Chritini Technologies (U.S.), KTM (Austria), Kawasaki Motorcorp (U.S.) and Suzuki motors (Japan).
By application, the market has been segmented as recreational and defence. Amongst these, recreational segment is expected to account for the largest market share in the Off-Road Motorcycles market. Off-road motorcycles for recreational purposes act as a low-cost option for consumers who wish to operate their motorcycles for off-road recreation on country roads and areas that require minimum construction standards. Recreational off-road motorcycles are subjected to various standards, which include general construction, exhaust noise requirements, general safety requirements and others. The recreational segment for off-road motorcycles accounts for a major market share during the forecast period mainly due to the growing popularity among individuals for the same.
Geographically, the global Off-Road Motorcycle Market has been divided into four major regions such as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region is expected to grow with the highest CAGR over the forecast period. The recent shift in the preference from mileage to vehicle looks and features is also expected to result in the high demand for an Off-road motorcycle. The market is also expected to grow during the forecast period owing to increasing population, rapid industrialization and aggressive expansion of manufacturing sector. With major manufacturers investing in the booming automotive industry the Asia-Pacific region, the off-road motorcycle market is projected to witness rapid growth during the forecast period. Growing awareness among individuals regarding offroad motorcycle events is expected to push the demand in this region. The market has been experiencing rapid growth owing to the rising sales of motorcycles, the shift of global players focusing on this region and technological advancements are giving much-needed thrust to the automotive off-road motorcycle market.
The report for Global Off-road Motorcycle Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2030: Significant Value|
|CAGR||9.58% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, By Application, By Vehicle type, By End Market,|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ROKON (U.S.), Torrot (Spain), Husqvarna Motorcycles GmbH (Sweden), Alta Motors (California), Betamotor (Italy), Sherco (Spain), TRS Motorcycles (U.S.), Kuberg (Czech Republic), Honda (Japan), Chritini Technologies (U.S.), KTM (Austria), Kawasaki Motorcorp (U.S.) and Suzuki motors (Japan).|
|Key Market Opportunities||Rising demand from defence sector|
|Key Market Drivers||Increase the sales of bikes|
The growth of the Off-Road Motorcycles is driving the emergence of off-road motorcycle training centers all across the globe.
The market will be gaining a CAGR of ~9.58% in the forecast period.
North America, Europe, Asia Pacific are the key regions witnessing highest market share.
Sherco (Spain), Alta Motors (California), TRS Motorcycles (U.S.), Torrot (Spain), Husqvarna Motorcycles GmbH (Sweden), ROKON (U.S.), Betamotor (Italy) are the key players investing in the market share.
Asia Pacific region will be growing with the highest CAGR in the forecast period.