Off-Road Motorcycle Market Trends Analysis Business ideas and Strategies forecast 2032
Global Off-Road Motorcycle Market Overview:
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 2030, growing at a phenomenal CAGR during the assessment period (2023 – 2030).
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)
Off-road motorcycle 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.
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.
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.
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