Off-road Motorcycle market to Eyewitness Huge Marginal Growth by 2028Posted by Mrudula Anil Karmarkar on August 30th, 2023 San Francisco, 30 August 2023: The ReportOff-road Motorcycle Market Size, Share & Trends Analysis Report By Type (Motocross, Enduro, Trail, Track-racing Motorcycles), By Region (Asia Pacific, North America), And Segment Forecasts, 2022 - 2028 The global off-road motorcycle market size is estimated to reach USD 21.83 billion by 2028 and is anticipated to expand at a CAGR of 6.2% from 2022 to 2028, according to a new report by Grand View Research, Inc.Racing and sports events focused on off-road motorcycles are the key factors driving the growth of the market. In addition, the increasing popularity of off-road motorcycle racing among youth is also boosting the market growth. Off-road motorcycles are very expensive in terms of maintenance and cost and these factors hamper the growth of the global market. Most of the major players operating are launching new models to enhance their global presence and to gain maximum share in the market. The COVID-19 pandemic has positively impacted the market. According to the Motorcycles Data in December 2020, the off-road motorcycles segment promoted the U.S. motorcycles industry in the year 2020, which reported a massive growth. Moreover, it is anticipated that the global market will grow at a considerable pace over the forecast period due to the growing number of sponsorships to riders and racing events from big brands. According to key manufacturers, such as Honda Motor Co., Ltd., and Harley-Davidson Incorporation, as major cities emerge from the quarantine phase in various regions, off-road motorcycles are increasingly seen in various racing events. The enduro motorcycles segment accounted for the largest market revenue share in 2021. Enduro motorcycles are specially built for long-distance racing and are designed to hold up under extreme situations. According to the Federal Chamber of Automotive Industries (FCAI), the revenue generated by the enduro motorcycles segment was high in 2020. Every year, various AMA-sanctioned enduros are held globally. Thus, the enduro motorcycles demand is high and contributed more to the market revenue. Asia Pacific accounted for the largest market share in 2021. According to MarkLines Co., Ltd., India, and China were the major countries that generated large revenue for the market in 2020. High accessibility of raw materials, innovative manufacturing facilities, and increasing demand for motorcycles are driving the regional market growth. Moreover, the growing consumer inclination towards off-road recreational activities in Asia Pacific drives the market growth. Off-road motorcycles are also called dirt bikes and are manufactured especially for off-road racing events on surfaces that are not conventionally paved. Unconventionally paved surfaces are rough. Compared to on-road motorcycles, off-road motorcycles are lighter and extra flexible, normally having long suspension travel, and high ground clearance, and are geared higher to offer more torque in off-road conditions. Request sample report of Off-road Motorcycle Market@https://www.grandviewresearch.com/industry-analysis/off-road-motorcycle-market-report/request/rs1 Off-road Motorcycle Market Report Highlights
Racing and sports events focused on off-road motorcycles significantly driven the demand. The rising number of sponsorships to racing events and riders from big brands is fostering the market growth. Moreover, a rise in the number of launches of off-road motorcycles and the rising popularity of all-electric off-road motorcycles drive the market. The COVID-19 outbreak positively impacted the global market. Technological advancements, such as electric off-road motorcycles, will create new development opportunities for the market. The rising popularity of electric off-road motorcycles due to the increasing CO2 emission concerns will also spur market growth. Off-road Motorcycle Market Report Scope
List of Key Players of Off-road Motorcycle Market
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