Off-Road Motorcycle Market is projected to achieve a CAGR of 5.61% to reach US$30.542 billion by 2029

The off-road motorcycle market is anticipated to grow at a CAGR of 5.61% from US$20.845 billion in 2022 to US$30.542 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, June 20, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the off-road motorcycle market is projected to grow at a CAGR of 5.61% between 2022 and 2029 to reach US$30.542 billion by 2029.

Off-road motorcycles or dirt bikes are two-wheeled vehicles. They are meant to be ridden on untarred or gravel terrains. Consequently, they are fitted with particular tyres that offer the rider an effective and secure off-road ride when navigating in tough off-road conditions such as gravel or dirt areas.

There are only some types of off-road motorbikes such as trail, enduro, track or motocross. What is called motocross bikes are those intended for fast racing around a closed circuit with artificial hills. This kind of motorcycle that is characterized by high speed over long distances across nature and can be used in individual sports is typically called an enduro bike.

The proliferation of off-road motorcycle training centres around the globe has contributed significantly to the off-road motorcycle industry's growth. There are now a lot of training facilities available, such as the BMW Performance Center Off-Road Motorcycle Training in South Carolina and the Black Swan Moto Off-Road Training Program in California. The development of off-road motorcycle training facilities will enable rising consumer power. Sales of off-road bikes will rise as a result of training facilities providing relevant abilities and strategies. Sales of sports bicycles will increase as a result, changing consumers' buying patterns.

For over the years, mechanical biking has become progressively popular especially motocrossing (which features off-road bicycling on large crowd-spectated motorcycle races). This creates public demand for off-road motorbikes and huge motocrossing shows based on excitement around these events that offer a lot of thrill, and fun with danger except that they are not for the fainthearted riders and observers alike. For example, Ken Roczen, a motorsport rider in the Indianapolis Supercross event in March 2024, won his fifth race of the 2024 season on his Suzuki RM-Z450 due to a superb ride on this off-road motorcycle.

Moreover, businesses in the industry planned to hold a competition and unveil the best off-road dirt bike models to pique customers' interest. For example: Triumph Motorcycles declared in September 2022 that they will participate in the 2024 FIM Motocross World Championship. This announcement meant that the business would now compete under the brand-new Triumph Racing umbrella, with its factory-supported race program. One of the most successful and seasoned team owners in the sport, Thierry Chizat-Suzzoni, has also partnered with Triumph Racing Team. In addition, two of Triumph's brand-new 250cc 4-stroke MX bikes will compete in the 2024 MX2 class and in 2025, they will enter the 450cc MXGP class.

Access sample report or view details: https://www.knowledge-sourcing.com/report/off-road-motorcycle-market

The off-road motorcycle market, by type, is divided into five types- Dirt bikes, adventure bikes, trial bikes, enduro bikes, and kids motorcycle. Over time, off-road enthusiasts and motorsports enthusiasts have shown a strong inclination towards dirt bike demand. Numerous bike manufacturers are aggressively offering a variety of dirt bike models across the region, catering to a range of applications from sports to adventure. Additionally, a lot of national rallies are being held, which has made dirt bike ownership possible for motorsports and bike enthusiasts.

In addition, a number of other possible factors, such as an increase in motorsports events and rallies, a rise in disposable income, and changes to the legislative landscape that support the use of electric dirt bikes, may have contributed to the spike in demand for dirt bikes.

The off-road motorcycle market, by application, is divided into two types- Recreational and defense. For those who wish to take their motorcycles off-road for fun on rural roads and in areas with lax construction regulations, off-road bikes are an affordable option. A number of standards, such as general construction, exhaust noise requirements, general safety requirements, and others, apply to off-road recreational bikes. Due to their increasing popularity among people, off-road bikes hold a substantial market share in the recreational category over the course of the projection period.

Due to the rapidly increasing need for cutting-edge bike features and improved visual design in developing nations throughout the Asia Pacific region, as well as the region's growing industrialization and urbanization, the off-road motorcycle market is predicted to grow significantly in the Asia Pacific area. Given that China is one of the world's biggest automobile markets, the automotive industry in the region is expanding significantly. One of the factors driving the off-road motorcycle market in the Asia Pacific region is the expansion of manufacturing facilities in the area.

Further, due to the tremendous expansion of their economies and GDPs over time, which has greatly enhanced the automotive sector in the region, several countries, including China, Japan, and India, have seen an increase in industrialization and urbanization. One of the main reasons driving the off-road motorcycle market in the Asia-Pacific area is the existence of major Japanese players like Suzuki and Yamaha.

The research includes several key players from the Off-road motorcycle market, such as Suzuki Cycles, Husqvarna Motorcycles, Yamaha Motorsports, Honda Motorcycles NZ, Appalachian Offroad Motorcycle Company, KTM, ARCH Motorcycle, RawHyde Adventures, Kawasaki Motors Corp., and Volcon ePowerSports.

The market analytics report segments the off-road motorcycle market using the following criteria:

• By Type

o Dirt Bikes
o Adventure Bikes
o Trial Bikes
o Enduro Bikes
o Kids Motorcycle

• By Application

o Recreational
o Defense

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Italy
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Companies Mentioned:

• Suzuki Cycles
• Husqvarna Motorcycles
• Yamaha Motorsports
• Honda Motorcycles NZ
• Appalachian Offroad Motorcycle Company
• KTM
• ARCH Motorcycle
• RawHyde Adventures
• Kawasaki Motors Corp.
• Volcon ePowerSports

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Ankit Mishra
Knowledge Sourcing Intelligence LLP
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