LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global dual-sport motorcycle market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global dual-sport motorcycle market will grow at a CAGR of over 9% during the forecast period. The growing interest in long-distance touring and experiential traveling is a major factor driving the market’s growth.
The global dual-sport motorcycle market has witnessed a high growth due to increasing preference for long-distance motorcycle touring. Overtime, these motorcycles have improved and have been equipped with necessary fixtures required for long-distance touring.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
In this report, Technavio highlights the increasing number of women and baby boomer motorcycle riders as one of the key emerging trends driving the global dual-sport motorcycle market:
Increasing number of women and baby boomer motorcycle riders
Baby boomers have higher purchasing power compared to younger generations and focusing on this audience has really helped the global motorcycle industry expand its market. The number of baby boomers in the US is significant and this has created tremendous potential for OEMs in the global dual-sport motorcycle market to target their products to these consumers.
Currently, baby boomers are high revenue generators in the US motorcycle industry, with the heavyweight motorcycle segment contributing 55% of the market share. Similar trends are being observed in Europe where baby boomer motorcyclists represent a major share of the total motorcyclist community. Therefore, baby boomers appear to be the ideal target audience for dual-sport motorcycles considering their needs and high purchasing power.
According to a senior analyst at Technavio for automotive manufacturing research, “OEMs are also trying to push dual-sport motorcycles in the Japanese market, which has the highest aging population. High life-expectancy is also contributing to the increase in adoption of dual-sport motorcycles due to increasing customer-perceived value.”
The motorcycle market is witnessing substantial growth in women riders too. Riding a motorcycle provides a sense of freedom, adventure, confidence to women. Currently, this section of the riding community accounts for only a small segment of all motorcyclists in the US, but their influence on motorcycle purchase is high. The increased adoption of motorcycles by women is attributed to the increased comfort and pleasure provided by new motorcycles in the market. This is also expected to drive the global dual-sport motorcycle market during the forecast period.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global dual-sport motorcycle market segmentation
This market research report segments the global dual-sport motorcycle market engine capacity (500cc-1,000cc, 200cc-500cc, and above 1,000cc), and key regions (the Americas, APAC, and EMEA).
The Americas was the leading region for the global dual-sport motorcycle market in 2017, accounting for a market share of over 76%, which is expected to increase by a further 7% over the forecast period. The Americas was followed by EMEA and APAC respectively. However, the market share of both these regions is expected to witness a significant drop by 2022.
Technavio’s best deal of the month! Get 20% off on all Media and Entertainment Services reports. Offer valid only till the 31st of March.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
