Vancouver, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The global adventure bike rental market size was USD Billion 1.12 in 2022 and is expected to register a revenue CAGR of 18.6% during the forecast period, according to the latest analysis by Emergen Research. Growing influence of social media platforms and adventure biking influencers is a major factor expected to drive market revenue growth during the forecast period. A hassle-free way to avoid traffic and get to the destination quickly is to rent a bike. One can simply find a bike to hire in the city due to many rental alternatives that are available, which will allow one to effortlessly navigate traffic, avoid crowded transportation options, and leisurely visit both well-known and uncommon locations. Beyond discovery and excitement, renting bikes provides young people with a wonderful opportunity to include health in their urban lives. Biking is a fun and healthy way to travel around the city in nice weather, especially in the winter. It's an opportunity to live an active lifestyle and enjoy the adventure of traveling to new places.
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Customers from across the globe now have access to a wider variety of services owing to the rental services, and booking process guarantees an improved user experience. These platforms now boast a fresh aesthetic and a wide range of services. They also offer the chance to test-ride motorcycles extensively for a longer amount of time before making a purchase choice.
However, high initial, maintenance, and repair costs are factors restraining market revenue growth. The maintenance and operating costs of specialized adventure bikes are frequently more expensive than ordinary motorbikes is a significant barrier. Furthermore, both rental firms and tourists are quite concerned about safety and insurance coverage for riders and rental bikes including difficult financial and legal decisions are also restraining market revenue growth.
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Scope of Research
| Report Details | Outcome |
| Market size in 2022 | USD 1.12 Billion |
| CAGR (2023–2032) | 18.6% |
| Revenue forecast to 2032 | USD 6.11 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019–2021 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type of Adventure Bikes, Rental Duration, Experience Level, Price Range, Booking Platforms, Target Customers, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | EagleRider, The Hertz Corporation, MotoQuest, SMTOURS, d.o.o., kizuki Co., Ltd., Motoroads, Ontrack Technologies Private Limited, Twisted Road, TIER Mobility SE, SG Bike Pte Ltd. |
| Customization scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global adventure bike rental market is fragmented, with many companies accounting for the majority of market revenue. Major companies are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective adventure bike rentals. Some major companies included in the global adventure bike rental market report are:
- EagleRider
- The Hertz Corporation
- MotoQuest
- SMTOURS, d.o.o.
- kizuki Co., Ltd.
- Motoroads
- Ontrack Technologies Private Limited
- Twisted Road
- TIER Mobility SE
- SG Bike Pte Ltd.
Strategic Development
- On 13 September 2022, the new DSR/X adventure motorcycle from American electric motorcycle manufacturer Zero is the company's flagship model for 2023. The FXE urban commuter, which is the company's entry-level model, and SR/S performance bike are both available from Zero. The company's new DSR/X adventure e-motorbike combines off-road capability with city and highway travel. The DSR/X is equipped with a new 17.3 kWh Z-Force battery pack and the company's new 166 lb-ft Z-Force motor.
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Some Key Highlights From the Report
- The intermediate and advanced riders segment is expected to register highest revenue CAGR during the forecast period. Understanding their special requirements, giving appropriate bike alternatives, outlining safety precautions, and selecting suitable routes depending on their skill levels are all aspects of catering to intermediate and advanced riders in the adventure bike rental industry. Rental businesses can draw and keep clients from both demographics by providing excellent customer service, keeping bikes in top condition, and developing a community that shares experiences and advice.
- The budget segment accounted for largest revenue share in 2022. Riders who are looking for cost-effective solutions without sacrificing the fun of discovering a variety of terrains and going on adventures can hire budget bikes from the adventure bike rental market. These motorcycles are made to offer a more reasonable option for individuals who are on a tight budget or are just starting to learn about adventure riding.
- The market in Asia Pacific accounted for largest revenue share in 2022 and is expected to register highest revenue CAGR during the forecast period. Growing number of tourists seeking out unusual and thrilling experiences owing to adventure tourism's rising appeal.
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Emergen Research has segmented the global adventure bike rental market on the basis of type of adventure bikes, rental duration, experience level, price range, booking platforms, target customers, and region :
- Type of Adventure Bikes Outlook (Revenue, USD Billion; 2019–2032)
- Off-road Bikes
- Touring Bikes
- Dual-Sport Bikes
- Others
- Rental Duration (Revenue, USD Billion; 2019–2032)
- Short-Term
- Long-Term
- Experience Level Outlook (Revenue, USD Billion; 2019–2032)
- Beginners
- Intermediate and Advanced Riders
- Price Range Outlook (Revenue, USD Billion; 2019–2032)
- Budget
- Mid-Range
- Premium
- Booking Platforms Outlook (Revenue, USD Billion; 2019–2032)
- Traditional Rental Shops
- Online Platforms
- Target Customers Outlook (Revenue, USD Billion; 2019–2032)
- Enthusiasts
- Tourists
- Event Participants
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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