Off-Road Motorcycle Market Size to Reach $16.0 Billion by 2031: Allied Market Research
Allied Market Research
6 min read
Allied Market Research
The factors that drive the growth of the global off-road motorcycle market include the growing interest of youth in off-road motorcycle races, increase in demand for sports and adventure activities, technology advancement in off-road motorcycles, the rise in popularity & evolution of motocross events, and the growing disposable income of consumers. Region-wise, the market in North America is expected to maintain its dominance during the forecast period.
Portland, OR, Nov. 07, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global off-road motorcycle market share generated $8.5 billion in 2021, and is estimated to reach $16 billion by 2031, witnessing a CAGR of 6.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
Off-Road Motorcycle Industry Report Coverage & Details:
Report Coverage
Details
Forecast Period
2022–2031
Base Year
2021
Market Size in 2021
$8.5 Billion
Market Size in 2031
$16.0 Billion
CAGR
6.5%
No. of Pages in Report
328
Segments Covered
Type, Application, Price Range, Engine Capacity, and Region
Drivers
Increase in interest of youth in off-road motorcycle races.
Growing demand for sports and adventure activities.
Technology advancement in off-road motorcycles.
Rise in popularity & evolution of motocross events.
Rise in disposable income of consumers.
Opportunities
Rise in focus on superior performance & comfort by manufacturers in the automobile industry and high adoption of electric off-road motorcycles.
Restraints
High purchase and maintenance cost of off-road motorcycles.
Covid-19 Scenario:
The COVID-19 outbreak impacted the motorcycle industry significantly due to stay-at-home orders and limited business operations in countries worldwide. Industry leaders in the motorcycle sector made considerable efforts in restructuring their supply chain and production line for the delivery of critical medical supplies.
In 2020, the pandemic compelled motorcycle manufacturers to skip major motor shows & racing events in 2020 and turn towards alternative platforms like digital premieres.
However, many off-road motorcycle manufacturers decided to make several key decisions in the wake of COVID-19 and withdrew from global trade shows in 2020.
However, the global market is recovering with the pandemic situation improving and is expected to remain in the growth stage during the forecast period.
The report offers a detailed segmentation of the global off-road motorcycle market based on type, application, price range, engine capacity, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on type, the enduro motorcycle segment held the largest share in 2021, accounting for nearly two-fifths of the global off-road motorcycle market share, and would rule the roost through 2031. However, the track-racing motorcycle segment is estimated to witness the fastest CAGR of 9.0% during the forecast period. The report also analyzes the segments such as motocross motorcycle, trail motorcycle, and track-racing motorcycle.
Based on application, the commercial segment held the largest share in 2021, accounting for nearly half of the global off-road motorcycle market, and would rule the roost through 2031. However, the industrial segment is estimated to witness the fastest CAGR of 8.8% during the forecast period. The report also analyzes the segments such as personal and others.
Based on price range, the low to mid segment held the largest share in 2021, accounting for nearly four-fifths of the global off-road motorcycle market share, and would rule the roost through 2031. However, the high segment is estimated to witness the fastest CAGR of 7.8% during the forecast period.
Based on region, the market in North America was the largest in 2021, accounting for half of the global off-road motorcycle market share, and is likely to maintain its leadership status during the forecast period. However, the market in the Asia-Pacific region is expected to manifest the highest CAGR of 8.9% from 2022 to 2031. The other regions analyzed in the study include Asia-Pacific, Europe, and LAMEA.
Leading players of the global off-road motorcycle market analyzed in the research include Benelli Q.J., Betamotor S.p.A., BMW AG, Bultaco, Christini AWD Motorcycles, Cobra Motorcycles, Honda Motor Co., Ltd., Husqvarna Motorcycles, Kawasaki Heavy Industries Ltd., KTM AG, KUBERG Motorcycles, Piaggio & C. S.p.A (Aprilla), Polini S.p.A., ROKON International Inc., Scorpa Motorcycles, Sherco Motorcycles, SSR Motorsports, Suzuki Motor Corporation, Torrot Electric Europa S.A., Triumph Motorcycles, TRS Motorcycles, Ural Motorcycles, Yamaha Motor Co., Ltd., and Zero Motorcycles, Inc.
The report analyzes these key players of the global off-road motorcycle market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
