Market Overview
As per the Off-Road Motorcycle Industry 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.
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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.
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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.
Key Players
· ROKON (U.S.)
· Torrot (Spain)
· Husqvarna Motorcycles GmbH (Sweden)
· Alta Motors (California)
· Betamotor (Italy)
· Sherco (Spain)
· TRS Motorcycles (U.S.)
· Kuberg (Czech Republic)
· Honda (Japan)
· Chritini Technologies (U.S.)
· KTM (Austria)
· Kawasaki Motorcorp (U.S.)
· Suzuki motors (Japan).
Industry news
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.
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