LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global off-road motorcycles market predicts a CAGR of around 8% during the period 2018-2022.
The report segments the global off-road motorcycles market by application (recreational and defense) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global off-road motorcycles market, according to Technavio automotive researchers:
- Growing popularity of adventure sports: a major market driver
- Emergence of dual-sport motorcycles: emerging market trend
- In 2017, the Americas dominated the off-road motorcycles market with a market share of approximately 44%.
- The recreational segment held the largest share of the global off-road motorcycles market with a contribution of approximately 95% in 2017
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Growing popularity of adventure sports: a major market driver
The growing popularity of adventure sports is one of the major factors driving the global off-road motorcycles market. The global motorcycle industry is observing an increase in the sales volume across nations. This is visible through the year over year growth rate of the motorcycle volume sales across different segments that has been largely helped by the increasing number of models. Presently, the global motorcycle industry is dominated by the commuting motorcycles. But, changing consumer preferences and the increasing interest in off-roading has led to the growth of the global off-road motorcycles market.
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Emergence of dual-sport motorcycles: emerging market trend
The increasing competition in the global motorcycle industry has led to an increase in the launches of new models across segments. Numerous sub-segments within the motorcycle industry have emerged over the past few years. Such segments are rapidly gaining popularity among riders as they boast of combined benefits of two categories of motorcycles.
According to a senior analyst at Technavio for research on automotive manufacturing, “The dual-sport motorcycle segment is one such segment that is witnessing growing popularity among motorcycle enthusiasts. The wide-ranging capabilities and potential associated with such motorcycles makes them perfect for use as a sports motorcycle while riding through street or for off-roading. These motorcycles are usually known as street versions of endure-type off-road motorcycles. These motorcycles are equipped with a large displacement multi-cylinder engine for adequate performance on both on-road and off-road conditions.”
Global market opportunities
In 2017, the Americas dominated the off-road motorcycles market with a share of approximately 44%. The high popularity of off-road motorcycles such as dirt bikes, adventure bikes, and dual-sport motorcycles is one of the key reasons for the high market share of the Americas. EMEA held the second largest share in the global market. In Europe, countries such as Germany, France, Italy, and Spain, have been the main market drivers for the regional off-road motorcycles market.
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