Industry news of Off-Road Motorcycle Market
Recently,
the prominent market leader known as Bridgestone has announced its latest
on-road adventure tire in nine sizes (4 front and 5 rear). This latest tire
will be available from February 2022 across the world.
Off-Road Motorcycle Market Overview
As
per the Off-Road Motorcycle Market report,
significant growth has been witnessed by the worldwide market. It is projected
to expand the market share at the CAGR of ~9.58% during the assessment period.
Off-road motorcycles are extensively used for riding off-the-road or
recreational purposes like rough surfaces, often created naturally, such as
sand, gravel, a river, mud or snow. It is also referred to as the
non-road-licensed motorcycle across the world.
The
off-road motorcycle is designed to drive on all-terrain roads like trail roads
and other types of roads. It is also considered to be the most prepared in
competitions, racing courses, and adventure.
The
recent emergence of off-road motorcycle training centres around the globe, such
as BMW Performance Center Off-Road Motorcycle Training (South Carolina) and
Black Swan Moto Off-Road Training Program (California), are driving the Off-Road
Motorcycle Market growth. Moreover, these training centres offer
relevant skills and techniques to the people, attracting more audiences to
purchase off-road bikes. For instance, the global market has more significant
opportunities due to the increasing demand from the world's defence
sector.
Market Segmentation
The Off-Road
Motorcycle Market is divided into different segments such as
application and types.
Based
on the application segment, the global market has been divided into defence and
recreational. The recreational segment is projected to hold the largest off-road
motorcycle market share during the forecast timeframe due to the
increasing popularity of off-road motorcycles among people. This segment shows
potential to grow as it acts as a low-cost option where consumers can operate
their motorcycle for off-road recreation on global roads with fewer
construction standards. For instance, the recreational segment includes general
safety, exhaust noise, general construction, and others.
Based
on type segment, the global market has been classified into dual sports, raid
bikes, trial bikes, motocross, adventure bikes, and others.
Regional Analysis
Regionally,
the global Off-Road Motorcycle Market is divided into major regions such as
Europe, Asia Pacific, North America, and the Rest of the World.
The
Asia Pacific region is anticipated to expand the highest CAGR during the
research period due to the high preference from mileage to vehicle features and
looks. Moreover, this region has more growth potential in the forecast period
due to the aggressive expansion of the manufacturing sector, rapid
industrialization, and growing population. The major manufacturers of the
region further project the Asia-Pacific region to show rapid market growth in
the research period due to the increasing investment in the booming automotive
industry.
Additionally,
the technological advancements, increasing sales of motorcycles, increasing
awareness regarding off-road motorcycle events, and the global Off-Road
Motorcycle manufacturers and players' shifting focus towards
automotive, off-road motorcycles are some of the other important factors that
are thriving the demand for the automotive, off-road motorcycle market in the
region.
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