LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global off-road motorcycle market report until 2021. This research report also lists four other prominent vendors that are expected to impact the market during the forecast period.
The global off-road motorcycle market will grow consistently in terms of volume sales, whereas the growth rate will fluctuate over the next five years. The rising number of off-road motorcycle events like Motocross, Enduro racing, Supercross, and Arenacross and the increasing telecasting of these events through television and online channels have attracted many motorcycle enthusiasts and adventure bike riders.
Competitive vendor landscape
The global off-road motorcycle market is fragmented because of the aftermarket players that supply off-road conversion kits. The market is at a growing stage because of the increasing awareness worldwide about off-road motorcycles and the opening of training centers to develop riding skills. This increases the competition among the established players that manufacture off-road motorcycles. The intensity of the competition is expected to increase because of the growing demand for recreational and adventure sports vehicles. The demand for off-road motorcycles has also been growing in the defense sectors of many countries.
Siddharth Jaiswal, an industry expert at Technavio for research on automotive manufacturing, says, “Apart from the traditional off-road motorcycles, the demand for diesel-powered off-road motorcycles is also expected to increase, particularly in the defense sector. Electric off-road motorcycles are also seeing a rise in demand. A few vendors that manufacture electric off-road motorcycles are Zero Motorcycles, Volton Alation, Haibike SDURO, Bulls E-stream, and Magnum Peak.”
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Top five off-road motorcycle market vendors
Honda is one of the leading automobile manufacturers worldwide. It manufactures automobiles, motorcycles, and power equipment that are high in quality and performance. It is also the world’s largest manufacturer of internal combustion engines measured by volume.
Kawasaki designs and manufactures advanced and high-performance motorcycles and engines. Kawasaki offers KLX 110, KLX 110 L, KLX 140, KLX 140L, KLX 140G, KX 65, KX 85, KX 100, KX 250F, KX 450F in the off-road segment.
KTM is an Austrian motorcycle company owned by CROSS Industries and Bajaj Auto. KTM's motorcycles have won more than 260 world championship titles and five manufacturer's titles. The company's off-road motorcycle sales have increased over the years. It sold 71,854 units of off-road motorcycles in 2015, out of which 22,674 were motocross bikes, and 49,180 were Enduro bikes.
Suzuki Motor is a Japanese manufacturing company that offers automobiles, motorcycles, ATVs, and other products. Much of the company's revenue was generated from the automobile segment in 2016, with USD 25.38 billion, which is about 90.5% of its total revenue. The motorcycle segment generated 7.4% of the revenue in 2016, and the remaining was accounted for by marine and power products.
Yamaha Motor is the manufacturer of motorcycles, marine products, and other motorized products. It has seven brands under its portfolio. It is also involved in the import and sales of various types of products, development of tourist businesses, and management of leisure, recreational facilities, and related services.
Most of the revenue for Yamaha Motor comes from its motorcycle segment. About 61.9% of the company's total revenue in 2016 was from the motorcycle segment. Yamaha Motor operates in the commuter segment, racing segment, and off-road segment. It is one of the key manufacturers of off-road motorcycles in the world
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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