Off-Road Motorcycle Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Type (Dirt Bikes, Adventure Bikes, Trial Bikes, Enduro Bikes, Kids Motorbikes and Others); Application (Recreational and Defence); Engine Capacity (500CC -1000CC and Above 1000CC)); and Region/Country
Detailed Analysis of COVID-19 Impact on the Off-Road Motorcycle Market
Global Off-road Motorcycle Market is expected to grow at a significant rate of around 5% during the forecast period. Off-road motorbikes, often known as dirt bikes, are built specifically for off-road racing on terrain that isn’t typically rough. Moreover, off-road motorcycles are more lightweight and flexible than on-road motorcycles. They typically have lengthy suspension travel, and high ground clearance, and are geared higher to provide more torque in off-road conditions. The industry is expanding because to the increasing number of sponsorships from major brands to racing events and athletes. The industry is also driven by an increase in off-road motorbike launches and the popularity of all-electric off-road motorcycles. In addition, the key players are working towards the advancement of new technology and launching new generation motorcycles. For instance, in June 2021, Torrot Electric Europa S.A announced the launch of a new generation of motorcycles in the Motocross, Enduro, and supermotard models.
Rokon International Inc.; TORROT ELECTRIC EUROPA S.A; Husqvarna Motorcycles; Alta Motors; BETAMOTOR Spa ; Hero MotoCorp Ltd; Bajaj Auto Ltd.; Royal Enfield; Sherco; and TRS Motorcycles. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, enduro bikes category to witness robust CAGR during the forecast period”
Based on type, the market is segmented into dirt bikes, adventure bikes, trial bikes, enduro bikes, kids motorbikes and others. The enduro bikes category is to witness a higher CAGR during the forecast period. The off-road enduro bikes market is growing significantly due to the growing trend of adventure sports across geographies. Furthermore, government authorities around the world have increased budgetary allocations to build new off-road trails that may be useful for recreational enthusiasts and boost adventure sports activities as nations focus on increasing tourist arrivals.
“Amongst application type, the recreational to hold a significant share in the market in 2020”
Based on the drive type, the off-road Motorcycle market has been classified into recreational and defense. Among these, the recreational to hold a significant share of the market during the forecast period off-road motorcycle adoption is expected to be greater in the recreational category during the projection period. The rise in popularity of off-road racing events in people’s lives because of sports. Additionally, consumers have a low-cost option in the shape of off-road motorcycles if they wish to ride their motorcycles for off-road recreation on country roads and other locations requiring low construction standards.
“Amongst engine capacity, the 500cc to 1000cc to hold a significant share in the market in 2020”
Based on the drive type, the off-road Motorcycle market has been classified into 500CC to 1000cc and above 1000cc. Among these, the 500cc to 1000cc to hold a significant share of the market during the forecast period. Adventure riders and motorcyclists favor motorcycles with 500CC to 1,000CC engine capacities over those with larger displacements because they are lightweight and manageable when riding on rugged terrain. Additionally, for off-road and long-distance travel, these motorcycles can transport two persons, food, camping gear, and camping accommodation with ease.
“North America to hold a significant share in the market”
In 2020, North America held a significant share of the global ATV market. This is mainly attributed to the increasing recreational expenditure and the rising number of off-roading events driving the region’s off-road market. Moreover, the growing preference of the youth toward adventure and off-road events and the availability of a wide range of products across varied prices are the factors that drive the growth of the industry. In addition, ATVs are very useful in activities, such as hunting, nature exploration, hiking, and other outdoor exploration. Thus, growing participation in outdoor recreational activities has been a major driving factor in the market. For instance, fishing, hunting, trapping, and sport-shooting activities directly contributed $5 billion in economic activity to the Canadian economy in 2018. Moreover, it is expected that the market will continue to grow at a steady rate during the forecast period owing to the high-income levels of the consumers in the region coupled with rising awareness about the importance of spending time in outdoor recreational activities for a balanced and healthy life.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|Research Process of the Off-road Motorcycle Market
|Research Methodology of the Off-road Motorcycle Market
|IMPACT OF COVID-19 ON THE OFF-ROAD MOTORCYCLE MARKET
|OFF-ROAD MOTORCYCLE MARKET REVENUE, 2020-2028F
|500CC to 1000CC
|Rest of North America
|Rest of Europe
|Rest of Asia-Pacific
|Rest of World
|OFF-ROAD MOTORCYCLE MARKET OPPORTUNITIES
|OFF-ROAD MOTORCYCLE MARKET TRENDS
|Demand Side Analysis
|Supply Side Analysis
|VALUE CHAIN ANALYSIS
|Porters Fiver Forces Analysis
Research Methodology for the Off-road Motorcycle Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Off-road Motorcycle market were the three major steps undertaken to create and analyze the adoption of Off-road Motorcycles in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Off-road Motorcycle market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Off-road Motorcycle market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Off-road Motorcycle market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, drive type, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Off-road Motorcycle market. Further, we conducted factor analysis using dependent and independent variables such as type and applications of Off-road Motorcycles. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Off-road Motorcycle market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Off-road Motorcycle market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Off-road Motorcycle market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Off-road Motorcycle market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Off-road Motorcycle market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and applications in the global Off-road Motorcycle market.
The main objective of the Global Off-road Motorcycle Market Study
The current & future market trends of the global Off-road Motorcycle market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Off-road Motorcycle market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type and applications
- Define and analysis of the regulatory framework for the Off-road Motorcycle
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Off-road Motorcycle market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the Off-road Motorcycle market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry