The off-road motorcycle market is garnering substantial traction across the globe. The market growth attributes to the rising action sports and motorcycling events. Besides, the availability of a broad range of motorcycles drives the growth of the market. Product standardization enhanced research & innovation, and increased lab & field tests are significant trends ensuring market growth.
Off-road motorcycles hold enormous potential
for the sports vehicle industry. The
market is to witness increasing motorcycle production, which would expand the
customer base looking for quality and profitability. In its recent market
research, Market Research Future (MRFR) asserts that the global off-road
motorcycle market is projected to reach an exponential valuation by 2030.
Get a Free Sample Report@
Sample report of off-road
motorcycle market
Global Off-Road
Motorcycle Market – Segmentations
The
off-road motorcycle market is segmented into types, applications, and
regions. The type segment is
sub-segmented into dirt bikes, adventure bikes, trial bikes, enduro bikes, kids
motorbikes and others. The application segment is sub-segmented into recreational
and defense. Of these, the recreational segment holds the largest market share.
For
recreational purposes, off-road motorcycles offer a low-cost option for
consumers who wish to operate their motorcycles on country roads and areas that
require minimum construction standards. The region segment is sub-segmented
into Americas, Europe, Asia Pacific, and the rest-of-the-world.
Off-Road
Motorcycle Market – Regional Analysis
The Asia Pacific region dominates the global
off-road motorcycle market. The market growth is driven by the recent shift in
the preference from mileage to vehicle looks and features, resulting in the
high demand for an off-road motorcycle. With major manufacturers investing in
the motorcycle industry, alongside the growing awareness among individuals
regarding off-road motorcycle events, push the market demand in this region.
Furthermore, the strong presence of several
notable industry players and increased motorcycle production capacities impact
the regional market growth positively. China, India, and ASEAN countries
account for significant shares in the regional market, growing with the demand
for lightweight commercial vehicles with enhanced fuel efficiency. The APAC
off-road motorcycle market is projected to witness rapid growth during the
forecast period.
North America accounts for the second-largest
market in the global off-road motorcycle market. The market is fostered by the
rising sales of motorcycles and technological advancements. Additionally, the
rising demand for lightweight fuel-saving commercial vehicles gives much-needed
thrust to the automotive, off-road motorcycle market. The rising availability
of innovative technologies and automotive production, alongside the burgeoning
automotive industry in the region, boosts the market's growth.
Europe holds the third-largest share in the
global off-road motorcycle market. Factors such as the well-established
automotive industry and innovations in the region drive market growth. Also,
substantial R&D investments by industry players to drive the product and
technology developments fuel the off-road motorcycle market sales. The European
off-road motorcycle market is expected to grow with the highest CAGR over the
forecast period.
Ask for Customization@
customization for off-road
motorcycle market
Global Off-Road
Motorcycle Market – Competitive Analysis
Highly competitive, the off-road motorcycle
market appears fragmented due to the presence of several well-established
players. Industry players incorporate strategic approaches, such as mergers
& acquisitions, innovation, brand reinforcement, and expansion, to gain a
larger competitive share. Manufacturers strive to offer an extended range of
high-performance motorcycles. Due to the expected innovations and improvements
in product, service, and product innovations, the market will soon witness an
intensified competition.
Major Players:
Players leading the global off-road
motorcycle market include Torrot (Spain), ROKON (US), Husqvarna Motorcycles
GmbH (Sweden), Betamotor (Italy), Alta Motors (California), Sherco (Spain),
Kuberg (Czech Republic), TRS Motorcycles (US), Honda (Japan), Kawasaki
Motorcorp (US), Chritini Technologies (US), KTM (Austria), and Suzuki motors
(Japan).
Industry/ Innovations/ Related News
May 18, 2021 ---- Triumph Motorcycles India launched
the off-road motorcycles Scrambler 1200 and Street Scrambler 900 in India.
These special edition motorcycles feature the latest generation of ride-by-wire
technology, offering six riding modes, including road, rain, sport, off-road,
off-road pro (only on the XE variant), and a rider configurable mode.
Check
our more reports of automobile!
what is an instrument panel on a car
.png)
.png)
No comments:
Post a Comment