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.
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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.
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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.
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