What are the trends in the off-road vehicle industry?
Industry Trends. Off-Road Vehicles (ORVs) Market size was valued at over USD 19.5 billion in 2017 and is estimated to exhibit around 5.5% CAGR from 2018 to 2024.
Why should you buy this motorcycle market research report?
The global market research report provides a detailed industry analysis and focuses on key aspects such as leading companies, product types, and leading product applications. Besides this, the report offers insights into the motorcycle market trends and highlights key industry developments.
What drives the growth of the off road motorcycle market?
The growing demand for sports and adventure activities primarily drive the growth of the off road motorcycle market. The rise in disposable income and improving living standards encourage consumers to take part in adventure activities, supporting the growth of the market.
What is the classification of the off road motorcycle market?
Based on type, the market is segmented into Dual-Sports, Adventure Bikes, Raid Bikes, Motocross, Trial Bikes, and others. On the basis of distribution channel, the market is segmented into OEM, and Aftermarket. The OEM dominated the global off road motorcycle market in 2017.
COVID-19 scenario analysis
Economic crisis occurring due to lockdown across the world affects the end use industry greatly.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Surge in adoption of safety and security features in automobile industry, rise in the preference of consumer shifting towards premium off-road motorcycles, increasing focus by manufacturers in automobile industry on superior performance and comfort, and raising craze of off-road motorcycle racing among youth generation are the factors that drive the growth of global off-road motorcycle market.
Increasing focus by manufacturers in automobile industry on superior performance and comfort
The trend of motorcycle riding is rising in the youth generation across the globe owing to the movies in the Hollywood and Bollywood related to the car and bike racing. Moreover, attractive marketing strategies and launch of various design of vehicles rises demand for advance vehicles by youth.
Surge technological innovations in automobile industry
The demand for technologically advance bike is raising owing to the increase in the interest of youth consumers in off-road motorcycle race. The consumers are eager to welcome the innovations in the automobile industry regarding rough, strong, and high speed vehicles. The female consumers are also inclining towards off-road bike riding.
What are the factors that drive the growth of the off road motorcycle market?
The growing demand for sports and adventure activities primarily drive the growth of the off road motorcycle market. The rise in disposable income and improving living standards encourage consumers to take part in adventure activities, supporting the growth of the market. There has been an increasing demand for these bikes from the defense sector owing to growing defense budgets and increasing applications. The growth in off road motorcycling events and initiatives by private organizations to promote biking activities has accelerated the adoption of off road motorcycles across the globe. Other factors driving the off road motorcycle market include technological advancements, increasing demand for electric motorcycles, and rising tourism activities. Growing demand from emerging economies, and increasing adventure activities are factors expected to offer growth opportunities during the forecast period.
What is an off road motorcycle?
Off Road motorcycles are lightweight motorcycles designed for use on rough surfaces such as dirt roads or trails. These motorcycles are equipped with rugged tires and suspension for riding cross country or over unpaved ground. The advanced suspension systems offer shock absorbing capabilities in uneven terrains.
What countries are in Europe?
Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. North America accounted for the largest share in the global Off road motorcycle market in 2017.
Where is the motorcycle market?
The off road motorcycle market report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. North America accounted for the largest share in the global Off road motorcycle market in 2017. The increase in tourism activities in the region, along with growing trend of adventure activities supports market growth. The initiatives taken by private organizations to promote biking and adventure sports further fuels market growth.
Who are the leading players in the off road motorcycle market?
The leading players in the off road motorcycle market include Husqvarna Motorcycles GmbH, TRS Motorcycles, Kawasaki Motorcorp, Alta Motors, Chritini Technologies, Ural Motorcycles, KTM AG, BMW Group, and ROKON International Inc. among others. These leading players in the market are introducing innovative products in the market to cater to the growing demand of consumers. Global players are entering new markets in developing regions to expand their customer base and strengthen market presence.
Why are electric motorcycles so popular?
Newer electric motorcycles are increasing in popularity thanks to their quieter operation and smaller carbon footprint. At this time, it appears the only problem with electric motorcycles is the lack of speed available with them, which seems to be a function of the battery technology.
What is Kentley Insights report?
… and in-depth assessments of the retail sector in the United States with over 100 data sets covering 2012-2025. This Kentley Insights report includes historical and forecasted market size, ecommerce, product lines, inventory turns, gross margin, … Read More
What is the expected growth rate for electric vehicles in 2021-2026?
… expected to grow at a CAGR of 13.12% during the forecast period 2021-2026. With the increasing concern of over-utilizing of natural resources, electric vehicles are gaining traction in the automobile industry. The European government is … Read More
What is propylene glycol used for?
… propylene glycol and water that is used to maintain the temperature of the vehicle within a specific range. It is also used to prevent automobile radiators from overheating in summer or freezing in winters, thus … Read More
What is a premium helmet?
… to protect riders from head injuries in case of an accident. Premium helmets are manufactured using superior-quality materials such as carbon fiber, fiberglass, plastics and synthetic fibers that provide high tensile strength and enhanced security. … Read More
When was the first motorcycle made?
Since the first series-produced motorcycle was produced by Hildebrand and Wolfmuller in 1894, the motorcycle industry has been an even-increasing field. Now, motorcycles enjoy a vast array of designs and styles to meet consumer needs. Motorcycles are designed for distance travel, commuting, and off-road racing.
When will the electric scooter market be remunerated?
– 2027 With rising demand for eco-friendly mobility solutions, the global electric motorcycles & scooters market is forecast to clock in remunerative growth by the end of 2026. As the field of energy storage makes … Read More
What is the ATV market in 2021?
The North America ATV market is likely to register a CAGR growth of over 6.5% in the off-road vehicles market from 2021 to 2027. The rising demand for ATVs in military, construction, agriculture, and sports activities will support segment growth. ATVs are designed to operate in harsh environmental conditions & terrains including concrete roads, rough terrain, grasslands, and desert areas. Enhanced maneuverability, higher stability at slower speed in rugged terrain, and lower footprint is poised to foster the adoption of ATVs.
How many off road vehicles will be sold in 2020?
The North America off-road vehicles market size crossed USD 10 billion in 2020, with over 1 million new off-road vehicles sold. High disposable income and favorable government policies to promote the adoption of ATVs and UTVs through grants and subsidies will boost the regional market growth. The increasing participation in recreational & …
How much will the ATV market grow in 2027?
The North America ATV market will grow at a robust CAGR of more than 6.5% through 2027 owing to increased demand for the vehicle in construction, military and sports activities.
What are ATVs used for?
ATVs are designed to operate in harsh environmental conditions & terrains including concrete roads, rough terrain, grasslands, and desert areas. Enhanced maneuverability, higher stability at slower speed in rugged terrain, and lower footprint is poised to foster the adoption of ATVs.
How does urbanization affect construction?
Rising urbanization is positively influencing construction activities across the globe. Construction agencies are deploying ATV and SSVs to improve work output and productivity. Off-road utility vehicles have a robust structure and can easily perform on rough terrains and construction sites. According to the market forecast, superior advantages offered by these vehicles such as enhanced mobility, traction and four-wheel drive technologies with anti-lock braking systems will boost the adoption of off-road vehicles. Additionally, low maintenance costs, reduced fuel consumption, and low insurance costs will aid the demand for these vehicles in the construction industry.
What is the second half of 2020?
The travel restrictions imposed by government authorities globally led to a decline in recreational & motorsports activities during the first half of 2020. However, during the second half of 2020, market leaders witnessed a steady growth in unit shipments due to a shift in consumer preferences for off-road vehicles.
What is the off road vehicle market in Europe?
The recreation segment in Europe accounted for more than 35% of the off-road vehicles market in 2020 led by the increasing demand for motorsports, hiking, and camping activities. The increasing tourism & leisure activities have led to the proliferation of off-road vehicles in the tourism sector. The growing tourism industry in Australia, the U.S., and Canada will boost market growth. The growing demand for snowmobiles, ATVs, and UTVs for several recreational sports activities by tourists is driving the market statistics.
How many people die from two wheeler bikes in Europe?
As the report states, the use of these bikes is the most dangerous way to travel on roads, and in the European Union, more than 6,500 two-wheeler riders die every year in Europe, and the risk of death for riders is 20 times that of the passengers.
What are the factors that contribute to the growth of the motorbike market?
Also, the launch of effective and better products, the increase in sports bike users, and the growing trend of customization are factors aiding the growth of the market. Moreover, the technological development in manufacturing processes, designing, and electronics and the growing demand for safety features and driver assistance to provide a safe and comfortable environment, especially for long-distance riding, is further propelling the demand for motor bikes. Apart from that, several manufacturers are inventing techniques to build bikes that will run on eco-friendly solar energy, gas, or electricity resources. These efforts are gaining the attraction of environmentalists.
What is a motorcycle?
A motorcycle, often known as a motorbike or bike, is a two-wheeled motor vehicle built with metallic and fiber frames. They are equipped with an engine and multiple electronic and mechanical components. The design of the motor bikes varies significantly to suit a variety of different purposes including commuting, cruising, long-distance travel, sports activities, racing, as well as off-road riding. In the past decade, bikes have been increasingly adopted as cost-effective private transportation. Although advances in the automotive industry have greatly boosted sales, macroeconomic factors such as increased disposable income and increased urban population have further promoted cross-regional market sales.
Why are people using two wheelers?
Local buses, trains and other public transport are prone to contamination as they are crowded more often. Therefore, people are likely to opt for private mobility mode, with two-wheelers being a preferred choice owing to their affordability and convenience. During the pandemic in China and Western Europe, consumers have reported a new need for mobility due to people maintaining their distance from others and using separate devices to clean and untouched by others.
How many horsepower does a Tarform bike have?
For example, in October 2018, Tarform, Inc. introduced two new road electric bikes in the market. The Café and Scrambler models are equipped with a 43-horsepower engine and a 7 kWh lithium-ion battery for improved performance that can travel up to 200 miles on city roads.
What is the purpose of a motor bike?
The design of the motor bikes varies significantly to suit a variety of different purposes including commuting, cruising, long-distance travel, sports activities, racing, as well as off-road riding. In the past decade, bikes have been increasingly adopted as cost-effective private transportation.
Why does Honda have advanced braking systems?
For instance, Honda has promised to increase the installation of advanced braking systems due to its commitment to the European Road Safety Charter. This is eventually aiding the increase in the demand for bikes across the world.