New York, US, April 27, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), Off-Road Motorcycle Market Information by Type, Application, and Region - Forecast till 2030", Off-road motorcycle market will touch USD 223.1 billion by 2030, up from USD 159.6 billion in 2022, with a growth rate of 4.9% between 2022 and 2030.
Off-Road Motorcycle Market Overview
An off-road vehicle is a vehicle that has been built or adapted for usage off-road. Certain off-road vehicles are categorized as snowmobiles or all-terrain vehicles (ATVs), and each has its own set of rules. Among off-road vehicles are dirt bikes and dune buggies. When in use, all off-road vehicles must be registered and have the appropriate license plates.
There are several bikes that are referred to as dual-sport or dual-purpose. They shared many characteristics with dirt or MX motorcycles, but they are made for use both on and off-road. The street-licensed dual-sport offers more possibilities for riding venues as public space becomes more rare and accessible riding areas become more difficult to access. The performance of a lightweight off-road motorbike and pleasant street riding are always compromised with dual-sport motorcycles.
Market Competitive Landscape:
The affluent firms in the off-road motorcycle industry are
- ROKON (U.S.)
- Torrot (Spain)
- Husqvarna Motorcycles GmbH (Sweden)
- Alta Motors (California)
- Betamotor (Italy)
- Sherco (Spain)
- TRS Motorcycles (U.S.)
- Kuberg (Czech Republic)
- Among others.
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The off-road motorcycle market top companies are spending a lot of money on R&D to diversify their product offerings, which will help the off-road motorcycle market thrive. The introduction of new products, contracts, mergers and acquisitions, increased investments, and cooperation with other businesses are a few examples of significant market advancements. Competitors in the off-road motorcycle sector must provide reasonably priced goods if they want to grow and prosper in a market that is becoming more and more competitive and volatile.
February 2023
Graft, an electric vehicle (EV) company, has started taking orders for the EO.12, its first highly-capable electric motorcycle made for off-road trail riding, competitive enduro, and motocross.
The carbon fiber wheels on the EO.12, which give a 25% weight savings over the normal motorcycle wheel and have a total vehicle weight of 50 kg/110 lbs, make it the first off-road motorcycle available in both the gasoline and electric markets (battery inclusive). With a maximum output of 25 kW (34 hp), the bike boasts the highest known power-to-weight ratio for an off-road electric motorbike, ensuring exceptional handling and simple recovery on difficult, complex tracks.
Off-Road Motorcycle Market Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 223.1 billion |
| CAGR during 2022-2030 | 4.9% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application and Region |
| Key Market Opportunities | Rising demand from defence sector |
| Key Market Dynamics | Rising demand from the defense industry and increased bike sales |
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Off-Road Motorcycle Market USP Covered:
Market Drivers:
The demand has been greatly fueled by off-road motorcycle racing and sporting events. The market is expanding as a result of an increase in the number of prominent companies sponsoring racing events and athletes. Also, the industry is being driven by an increase in the number of off-road motorcycles launches as well as the popularity of all-electric off-road bikes. The COVID-19 pandemic had a favorable effect on the world economy. New market development opportunities will be produced by technological developments like electric off-road bikes. The market will rise as electric off-road bikes become more and more popular as a result of rising CO2 emission concerns.
There are around 1.3 million active riders for every million registered motorbikes on the road each year, according to the MIC's Motorbike Owner Survey, and women are responsible for 15–25% of road fund license evasion. In England, there are 5 million people with full motorbike licenses, meaning that 4/5 of them are inactive. Of this category, 525,000 women now possess full motorcycle licenses. Between 2020 and 2021, the Motorcycle Industry Council in the United States saw a 52% growth in the number of female bike riders. According to the Women Riders Today magazine, there are now 37% more women who own motorcycles. Women presently make up 14% of all motorcycle owners in the US, according to MIC's Owner Survey, a number that has been gradually rising since 2018 by 8%.
Market Restraints:
It is anticipated that off-road bikes' uncomfortable seating arrangements and expensive purchase and maintenance costs would limit market growth. Yet, the adoption of electric on/off road bikes and manufacturers' increasing focus on improved comfort and performance bring up new market opportunities for the industry's leading players.
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Off-Road Motorcycle Market COVID 19 Analysis
Due to limited commercial activities globally and stay-at-home orders, the COVID-19 pandemic had a substantial influence on the motorcycle industry. Leaders in the motorcycle industry put a lot of work into reorganizing their production process and supply chain to accommodate the delivery of vital medical supplies.
Motorcycle manufacturers were forced by the epidemic to forgo big auto exhibitions and racing events in 2020 and instead focus on alternate channels like digital premieres.
Nonetheless, several off-road motorbike producers made numerous important choices following COVID-19 and withdrew from international trade exhibitions in 2020. The pandemic situation is improving, but the worldwide off-road motorcycle market is rebounding and is anticipated to stay in the growth stage over the projection period.
Off-Road Motorcycle Market Segmentation
By Type
Dirt motorcycles, adventure sports bikes, trial bikes, enduro bikes, kids motorbikes, and others are the major types of off-road motorcycles in the market. With a market share of more than 36.0 percent in 2021, enduro bikes dominated the space, and from 2022 to 2028, they are predicted to grow at a CAGR of 6.7%. Enduro motorcycle sales accounted for the largest portion of revenue in 2020, according to the Federal Chamber of Automotive Industry (FCAI). High-performance bikes designed particularly for off-road endurance racing are called enduro motorcycles. There are several enduros held each year that are authorized by the AMA. This includes international, regional, and local tournaments. As a result, enduro motorcycle demand is high, which raised off-road motorcycle market income.
By Application
Application-based segmentation of the off-road motorcycle market covers Recreational and Defence. The Off-Road Bikes market will be dominated by the leisure segment. For customers who wish to use their motorbikes for off-road enjoyment on rural roads and in areas where construction laws are lax, off-road bikes are a reasonably priced option. Off-road leisure bicycles must meet a number of regulations, such as those relating to general design, exhaust noise specifications, general safety standards, and others. Due to the rising popularity of the category among consumers, the recreational category of off-road bikes has a sizable market share during the course of the forecast period.
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Off-Road Motorcycle Market Regional Insights
Due to the high value placed on vehicle features and aesthetics over mileage, the Asia Pacific Off-Road Motorbike market reached USD 105.1 billion in 2021. Also, this region has larger growth potential due to its robust industrial sector expansion, speedy modernization, and growing population. The area's top manufacturers anticipate that during the course of the research period, the Asia Pacific will witness substantial market expansion due to increased investment in the burgeoning automotive sector. The region's demand for automotive motorcycle off road is also booming as a result of technological advancements, rising motorcycle sales, increased public awareness of on-road off-road motorcycle competitions, and a shift in global off-road motorcycle brands, manufacturers, and major players' attention to motorcycles for both on- and off-road use.
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