The Global Off-Road Motorcycle Market was valued at US$ 14.3 Bn in 2021 and is expected to reach US$ 27 Bn by 2032, finds Future Market Insights (FMI) in a recent market survey. A new market research report by Future Market Insights on the Off-Road Motorcycle market includes global industry analysis for 2017–2021 and an opportunity assessment for 2022–2032. As per the findings of the report, motocross motorcycles will remain pivotal for the market as the bulk of revenue will be generated through this category.
Motocross remains the leading category owing to the increasing popularity of Motocross events
Motocross as a sport has been growing in popularity, with a resultant increase in demand for motocross motorcycles. Innovations in both motorcycles and events as a whole have boosted their popularity. This category witnessed a CAGR of 6.1% in 2017-2022 and has a forecasted CAGR of 5.6% in the forecast period of 2022-2032.
Off-Roading Apps encouraging the use of Off-Road motorbikes through Safety, community and trail-planning features
A multitude of apps and Websites catering to Off-Road Bikers have emerged over the past two decades. Features such as trail planning, Community Interaction options, and safety alerts have led to a change in the perception of Off-Road Motorcycling, making consumers feel more secure in planning both group and solo trips.
Technological improvements and preferential policies for electric vehicles are driving demand.
Preferential policies such as purchase tax exemptions for electric vehicles as well as the reduction in prices of Lithium-Ion batteries, a key component for Off-Road Motorcycles, are positively affecting market demand.
Defence Sector to boost demand for electric Off-Road Motorcycles
Stealth operations require vehicles that can move through difficult terrain, remain hard to track by having little to no detectable smell or emissions and can wait in complete silence. Off-Road Motorcycles, particularly those of the electric variety are proving to be a popular solution.
North America to Command the Larger Proportion of demand for Off-Road Motorcycles throughout the Analysis Period
With abundant suitable terrain and well established biking communities and infrastructure, North America as a whole leads the demand with the 2021 market share being 41.4% and the predicted market size of US$ 11.1 Bn in 2032.
“Off-Road motorcycle providers are closely working on developments in electric forms of Off-road motorcycles in order to harness the growing demand and preferential legislature.” comments an analyst at Future Market Insights.
Off-Road Motorcycle Market: Competition Insights
Off-Road Motorcycles manufacturers are largely 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. The key companies operating in the Off-Road Motorcycles market include Harley-Davidson Incorporation, Yamaha Motor Co., Ltd., Ducati Motor Holding S.p.A., Honda Motor Co., Ltd., and Kawasaki Heavy Industries, Ltd.
Some of the recent developments by key providers of Off-Road Motorcycles are as follows:
In May 2022, Chongqing Qiulong Technology Co., Ltd, launched SUR-RON, an electric off-road motorcycle in China.
In December 2021, Harley-Davidson’s electrical motorcycle brand LiveWire was separated and made public through a merger with the acquisition corp AEA-Bridges Impact Corp.
In December 2021, India Kawasaki Motors launched M Y22L KLX450R, a purpose-built off-road motorcycle with a 4 stroke engine and higher amount of low-end torque.
In October 2021, Volcon, who manufactures off-road electric motorcycles had an IPO, listing on the Nasdaq with “VLCN” as their symbol.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Off-Road Motorcycle Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Off-Road Motorcycle in terms of Type (Motocross Motorcycles, Enduro Motorcycles, Trail Motorcycles, Track-racing Motorcycles), and Sales Channel (Retail Sales, Institutional Sales) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
For More Info@ https://www.futuremarketinsights.com/reports/off-road-motorcycles-market
About Future Market Insights (FMI)
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.