Market Highlights:
Off-Road Motorcycle Market Key Manufacturers Analysis:
Betamotor (Italy), Sherco (Spain), TRS Motorcycles (U.S.), ROKON (U.S.), Torrot (Spain), Husqvarna Motorcycles GmbH (Sweden), Alta Motors (California) and Kuberg (Czech Republic) are some of the prominent players in the market. The players of the Off-Road Motorcycle market compete with each other to gain an edge over others by focusing on three vital aspects, i.e., quality, price, and, innovation. The competitive landscape of the market highlights the domination by established players in market share and control.
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Market Growth Drivers:
One primary driver propelling the growth of this market is innovation in suspension control systems. The advanced suspension ability of off-road motorcycles is a key factor driving the growth of the market. Technological evolution in this field has had a favorable impact on the market, and active efforts and investments by manufacturers to enhance the performance of suspension systems during the forecast period. In many countries across the globe, off-road motorcycles have gained a cult among the urban population. The increasing environmental awareness amongst the people has also propelled the demand for zero emission electric and solar powered Off-Road Motorcycles.
Market Segmentation:
The off-road motorcycle market is segmented by type, which are dirt bikes, trial bikes, enduro bikes, kid’s motorbikes, adventure bikes, and others. Amongst this, the trial bikes segment is projected to lead the market. These are used for off-road and recreational riding which test the balancing skills rather than focus on the speed. A trial bike is not used in competitions. They have dual-purpose tires with equipment such as mirrors, indicators, and others.
Major applications include recreational and defense. For defense purposes, off-road motorcycles were used during the world wars primarily for communication, transportation, and reconnaissance purposes. The demand for these off-road motorcycles experienced a steep decline post the world wars, mainly due to the general demand not able to compete with the enormous demand for off-road motorcycles. Manufacturers are enjoying a continuous increase in demand for off-road motorcycles lately and are actively investing in research and development to come up with motorcycles tailor-made for defense applications. The main advantage these bikes offer is mobility and travel in tight and difficult terrain, especially in areas like mountains, riverbanks, fallen trees and many more. Even usability and portability are some of the factors that provide an edge to these bikes in the competitive market.
Regional Analysis:
Geographically, the global off-road motorcycle market is stretched across four major regions such as Europe, Asia Pacific, North America, and Rest of the World. Among all the regions, Asia Pacific is presumed to expand with the highest CAGR over the forecast period. The recent shift in the preference from mileage to vehicle looks and features can elicit high demand for an off-road motorcycle to higher levels. Rapid industrialization, increasing population, and aggressive expansion of manufacturing sector aim to propel the steadily growing market in the region. Other supplementary factors which surge the market growth can be attributed to the fact that major manufacturers are investing in the booming automotive industry in the Asia-Pacific region. Growing awareness among consumers participating in off-road motorcycle events also pushes the demand in this region. Owing to rising sales of motorcycles, the shift of global companies concentrating on this region and technological advancements are giving a considerable thrust to the automotive off-road motorcycle market.
Industry News:
Motorcycle giant Harley-Davidson has become a stakeholder in Alta Motors, the electric motorcycle and light vehicle EV drivetrain maker based in Brisbane, California. Alta Motors will be collaborating with Harley-Davidson for building future electric motorcycles, which is a part of the deal. This collaboration will focus on new electric urban motorcycles and both will also continue to develop their own lines of motorcycles independently. Demand for electric vehicles coupled with suggestive policies supporting its production can bode well for the market.
Torrot (Spain) is reported to be working on an all-electric motorbike, Movak, which can perform at 5 kilowatt (kW), with the battery able to run continuously for 120km riding both on off-road as well as on road. The firm has already started accepting a large number of pre-orders. This move will help the company in creating its customer base as it focuses on developing innovative products that cater to the urban crowd. These strategies assist companies in maintaining their niche in the market.
Market Scope of Report:
This study provides an overview of the global Hydrogen Fuel Cell Vehicle market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Hydrogen Fuel Cell Vehicle market by its product and region.
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