Off-road Motorcycle Market Set to Witness an Uptick during 2022 to 2028: Grand View Research Inc.

 Off-road Motorcycle Market Growth & Trends

The global off-road motorcycle market size is estimated to reach USD 21.83 billion by 2028 and is anticipated to expand at a CAGR of 6.2% from 2022 to 2028, according to a new report by Grand View Research, Inc.Racing and sports events focused on off-road motorcycles are the key factors driving the growth of the market. In addition, the increasing popularity of off-road motorcycle racing among youth is also boosting the market growth. Off-road motorcycles are very expensive in terms of maintenance and cost and these factors hamper the growth of the global market. Most of the major players operating are launching new models to enhance their global presence and to gain maximum share in the market.

The COVID-19 pandemic has positively impacted the market. According to the Motorcycles Data in December 2020, the off-road motorcycles segment promoted the U.S. motorcycles industry in the year 2020, which reported a massive growth. Moreover, it is anticipated that the global market will grow at a considerable pace over the forecast period due to the growing number of sponsorships to riders and racing events from big brands. According to key manufacturers, such as Honda Motor Co., Ltd., and Harley-Davidson Incorporation, as major cities emerge from the quarantine phase in various regions, off-road motorcycles are increasingly seen in various racing events. The enduro motorcycles segment accounted for the largest market revenue share in 2021.

Enduro motorcycles are specially built for long-distance racing and are designed to hold up under extreme situations. According to the Federal Chamber of Automotive Industries (FCAI), the revenue generated by the enduro motorcycles segment was high in 2020. Every year, various AMA-sanctioned enduros are held globally. Thus, the enduro motorcycles demand is high and contributed more to the market revenue. Asia Pacific accounted for the largest market share in 2021. According to MarkLines Co., Ltd., India, and China were the major countries that generated large revenue for the market in 2020. High accessibility of raw materials, innovative manufacturing facilities, and increasing demand for motorcycles are driving the regional market growth. Moreover, the growing consumer inclination towards off-road recreational activities in Asia Pacific drives the market growth.

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Off-road Motorcycle Market Report Highlights

• Europe is estimated to register the second-highest CAGR from 2022 to 2028
• According to the European Association of Motorcycle Manufacturers (ACEM), major countries in Europe, such as Germany, Italy, France, the U.K., and Spain, generated maximum revenue
• The motocross motorcycles segment is likely to register the second-fastest CAGR in the forecast period
• A rise in the number of motocross enthusiasts and increasing disposable income levels are boosting the demand for motocross motorcycles

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Off-road Motorcycle Market Segmentation

Grand View Research has segmented the global off-road motorcycles market on the basis of type and region:

Off-road Motorcycles Type Outlook (Revenue, USD Million, 2017 - 2028)

• Motocross Motorcycles
• Enduro Motorcycles
• Trail Motorcycles
• Track-racing Motorcycles

Off-road Motorcycles Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
• Asia Pacific
  • China
  • India
  • Indonesia
  • Vietnam
• Central & South America
  • Brazil
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • South Africa

List of Key Players of Off-road Motorcycle Market

• Harley-Davidson Inc.
• Yamaha Motor Co., Ltd.
• Ducati Motor Holding S.p.A.
• Honda Motor Co., Ltd.
• Kawasaki Heavy Industries, Ltd.
• BMW AG
• Suzuki Motor Corp.
• Hero MotoCorp Ltd.
• Bajaj Auto Ltd.
• TVS Motor Company

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.