Asia-Pacific Off-Road Motorcycle Market Overview:
The global Asia-Pacific
Off-Road Motorcycle Market size is projected to exhibit a Compound Annual
Growth Rate (CAGR) of 7% from 2018 to 2023, as per the forecast period.
Off-road motorcycles are non-licensed motorcycles primarily used for
recreational or off-road riding. They are designed for various terrains,
including trails and rugged pathways, and are well-suited for activities such
as racing, competitions, and adventures.
Asia-Pacific Off-Road Motorcycle Market Dynamics:
The growth of the Asia-Pacific Off-Road Motorcycle Market is
being driven by the establishment of off-road motorcycle training centers
worldwide. These training centers, like the BMW Performance Center Off-Road
Motorcycle Training in South Carolina and the Black Swan Moto Off-Road Training
Program in California, play a significant role in boosting the market. By
providing relevant skills and techniques, these centers increase people's
interest in off-road motorcycles, ultimately boosting sales. This, in turn,
impacts consumer purchasing behavior.
Moreover, increasing demand from the defense sector is expected
to present growth opportunities during the forecast period. Technological
advancements and the introduction of electric motorcycles and hybrid electric
motorcycles have expanded the market's reach, especially in defense
applications. The rise in defense budgets in major economies worldwide is
expected to positively impact the off-road motorcycle industry. Additionally,
the growing popularity and awareness of off-road motorcycle events and the
dedicated core customer base of off-road motorcycle enthusiasts are poised to
drive significant growth in the market.
Asia-Pacific Off-Road Motorcycle Market Key Players:
Prominent players in the global off-road motorcycle industry
include ROKON (U.S.), Torrot (Spain), Sherco (Spain), Husqvarna Motorcycles
GmbH (Sweden), Alta Motors (California), Kuberg (Czech Republic), Betamotor
(Italy), TRS Motorcycles (U.S.), Chritini Technologies (U.S.), KTM (Austria),
Kawasaki Motorcorp (U.S.), Honda (Japan), and Suzuki Motors (Japan).
Asia-Pacific Off-Road Motorcycle Market Segmentation:
The global Asia-Pacific Off-Road Motorcycle Market is
divided into two main segments, type and application.
By type, it includes:
- Dirt
bikes
- Adventure
bikes
- Kids
motorbikes
- Others
By application, the market is segmented into:
- Recreational
- Defense
The recreational segment is expected to hold the largest
market share in the off-road motorcycles market. Recreational off-road
motorcycles serve as a cost-effective alternative for individuals looking to
enjoy off-road riding on country roads and less regulated areas. These
motorcycles must adhere to various standards, including construction, exhaust
noise, and safety requirements, among others.
Asia-Pacific Off-Road Motorcycle Market Regional
Analysis:
The global Asia-Pacific Off-Road Motorcycle Market is
geographically segmented into North America, Europe, Asia Pacific, and the Rest
of the World.
The Asia Pacific region is anticipated to experience the
highest CAGR during the forecast period. Factors contributing to this growth
include changing consumer preferences from mileage to vehicle aesthetics and
features. The Asia Pacific market is poised for expansion due to a rising
population, rapid industrialization, and the aggressive expansion of the
manufacturing sector. The automotive industry in the region has seen
significant investments from major manufacturers, which is expected to drive
the Asia-Pacific Off-Road Motorcycle Market's rapid growth. The increasing
awareness among individuals about off-road motorcycle events will further fuel
demand in the region.
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