The off-road motorcycle market share 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 share is projected to reach an exponential valuation by 2027, growing at
a phenomenal CAGR during the assessment period (2023 – 2030).
Global Off-road motorcycle market share–
Segmentations
The off-road
motorcycle market share 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 share– 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 share 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 share sales. The European off-road motorcycle market share is expected
to grow with the highest CAGR over the forecast period.
Global Off-road motorcycle market share–
Competitive Analysis
Highly
competitive, the off-road motorcycle market share 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:
·
ROKON (U.S.)
·
Torrot (Spain)
·
Husqvarna Motorcycles GmbH (Sweden)
·
Alta Motors (California)
·
Betamotor (Italy)
·
Sherco (Spain)
·
TRS Motorcycles (U.S.)
·
Kuberg (Czech Republic)
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.
Read
more:
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