Off-Road Motorcycles Market Revenue, Worth, Size, Segment by Type, Application, Key Companies | FMI

 The global off-road motorcycle market is anticipated to augment at a robust CAGR of 5.9% over the forecast period from 2022 to 2032. The global market was valued at around US$ 14.3 Billion in 2021 and the market is likely to reach a valuation of nearly US$ 27 Billion by the end of 2032. According to Future Market Insights' historical analysis, the global off-road motorcycle market expanded at a CAGR of 6.2% over the last five years (2017-2021).

The largest contribution to the global off-road motorcycle market revenue is grossed from motocross motorcycles. Retail continues to be the top sales channel in this category, with a CAGR of 5.7% in 2017-2021. Off-road motorcycles are gaining traction over the forecast period owing to recent technological advancement, the rise in biking culture through endorsement and media, as well as the environmental appeal of electric versions.

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The United States is expected to dominate the global off-road motorcycles market as it accounts for the largest procurer of flexible screens throughout the analysis period accounting for over US$ 3.6 Billion absolute dollar opportunity in the coming 10 years. 

Key Takeaways

  • The growth of popular media paired with technological advancements and the increasing popularity of electric vehicles prove to be a prominent factor in its growth. Numerous surveys have found that in 2018 at 8.04% of U.S. households had at least one bike, a significant increase from the 6.9% in 2014.
  • Off-road motorcycles provide higher ground clearance and torque of choice to those traveling across non-traditionally paved roads, whether for professional events or for leisure tours across adventure trails or rough terrain, or even water bodies.
  • Over recent years, there has been a significant increase in off-road motorcycling owing to media popularity, with competitions, travel shows, and documentaries contributing to a boost in demand. Furthermore, the sporting community of professional drivers, who are willing to invest far more in equipment and vehicles, has widened as a result.
  • The surging attitude amongst both consumers and governments has been of significant concern for pollution and the environment. Various countries and institutions are offering attractive subsidies and advantages provided by electric vehicles.
  • The growing popularity of electric vehicles combined with these subsidies has led to a significant amount of replacement purchases made by existing consumers choosing to switch over to electric vehicles.
  • Surging developments in the use of Artificial Intelligence and sensor technology enhance growth in the market. Furthermore, technological enhancements in new models are allowing a surge in demand. The use of sensors is increasing, with the aim being to enhance fuel economy, keep track of the physical components of the system and alert when servicing may be due or required ahead of time.
  • Ride-sharing platforms, which enable the renting out of motorcycles can allow even those who are deterred by the starting costs of motorcycling to try the sport out before buying their own vehicles. Moreover, other recent development has incorporated the use of AI technology in motorcycles.
  • AI technology is being harnessed for more than just the possibility of self-driving. Within the global market of off-road motorcycling, the major contribution it can make is through increased safety features. Predictive intelligence can allow riders to detect moving objects or possible obstructions in blind-spot areas around and near the vehicles using all-around systems. Developers are working on harnessing AI to learn a driver’s riding habits and provide better results.

For more information: https://www.futuremarketinsights.com/reports/off-road-motorcycles-market

Competitive Landscape

Off-Road Motorcycles manufacturers are massively aiming at creating new design concepts, harnessing new technologies, developing lower-cost models to attract wider audiences, and creating more environmentally efficient versions of their products.

Key Companies Covered

  • Harley-Davidson Incorporation
  • Yamaha Motor Co., Ltd.
  • Ducati Motor Holding S.p.A.
  • Honda Motor Co., Ltd.
  • Kawasaki Heavy Industries, Ltd.
  • BMW AG
  • Suzuki Motor Corp.
  • Hero Motocorp Ltd.
  • Bajaj Auto Ltd.
  • TVS Motor Company

More Insights into the Off-Road Motorcycles Market

North American region is expected to dominate the global market as it comprises a high amount of land and area suitable for off-road motorcycling, as well as relatively better safety infrastructure on these paths, which is the nucleus of demand, with a US$ 4.9 Billion absolute dollar opportunity between 2022 and 2032.

The U.S. off-road motorcycle market proves to be more beneficial from well-established biking communities and competitions, the prevalence in popular culture, and large stretches of terrain suitable for Off-Roading will remain the largest contributor to demand, with a forecasted market size of US $11.1 Billion by 2032 and absolute dollar opportunity of US $3.6 Billion in the assessment period 2022-2032.

 

 

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