Off-road Motorcycles - Worldwide

Worldwide

The Off-road Motorcycles market segment is set to achieve a remarkable revenue of US$8.50bn worldwide in 2024.
This projection indicates a promising future for the market.
Furthermore, it is anticipated that the revenue will continue to grow steadily with an annual growth rate (CAGR 2024-2028) of 3.33%.
As a result, the market volume is estimated to reach an impressive US$9.69bn by 2028.
In line with the growth in revenue, the unit sales of Off-road Motorcycles market are also expected to rise significantly, reaching 1.82m motorcyles units in 2028.
This reflects the strong demand for these motorcycles in the global market.
When it comes to pricing, the volume weighted average price of Off-road Motorcycles market in 2024 is projected to be US$5.27k.
This indicates that customers are willing to invest in these high-quality motorcycles.
Analyzing the geographical distribution of revenue, it is evident that in Brazil will be the top contributor, generating US$1,359.00m in 2024.
This highlights the significant market presence and potential in Brazil for Off-road Motorcycles market.
Overall, the Off-road Motorcycles market segment is expected to witness substantial growth worldwide, driven by increasing demand and favorable market conditions.
The projected revenue, sales volume, and average price demonstrate the promising opportunities available in this market for both manufacturers and consumers.
Despite the global popularity of off-road motorcycles, Brazil has emerged as a leading market due to its vast and diverse terrain, attracting both local and international riders.

Key regions: Spain, Nigeria, Italy, Portugal, United States

Market

Region

Region comparison

Currency

Analyst Opinion

The Off-road Motorcycles market in Worldwide is experiencing significant growth and development.

Customer preferences: Customers in the Off-road Motorcycles market are increasingly looking for high-performance and durable motorcycles that can handle rough terrains and provide an exhilarating riding experience. They are also seeking motorcycles with advanced safety features and improved fuel efficiency. Additionally, there is a growing demand for electric off-road motorcycles, as customers are becoming more environmentally conscious.

Trends in the market: One of the key trends in the Off-road Motorcycles market is the increasing popularity of adventure riding. Adventure motorcycles, which are designed for both on-road and off-road use, are gaining traction among riders who want to explore various terrains and go on long-distance journeys. This trend is driven by the desire for new experiences and the thrill of off-road exploration. Another trend in the market is the rise of off-road motorcycle racing. Off-road racing events, such as motocross and enduro races, are attracting a large number of participants and spectators. This trend is fueled by the growing popularity of motorsports and the adrenaline rush associated with competitive racing.

Local special circumstances: In certain regions, such as North America and Europe, the availability of vast off-road trails and designated riding areas has contributed to the growth of the Off-road Motorcycles market. These regions have a strong off-road riding culture and a well-established infrastructure to support off-road riding activities. In emerging markets, such as Asia and Latin America, the Off-road Motorcycles market is driven by the increasing disposable income of the middle class and the growing popularity of outdoor recreational activities. These regions offer diverse terrains and landscapes that are ideal for off-road riding, attracting enthusiasts and adventure seekers.

Underlying macroeconomic factors: The growth of the Off-road Motorcycles market is also influenced by macroeconomic factors. Economic stability and growth contribute to increased consumer spending power, allowing individuals to invest in recreational vehicles like off-road motorcycles. Additionally, favorable government policies and regulations related to off-road riding can stimulate market growth by providing a conducive environment for manufacturers and riders. In conclusion, the Off-road Motorcycles market in Worldwide is experiencing growth due to customer preferences for high-performance and durable motorcycles, the popularity of adventure riding and off-road racing, local special circumstances such as the availability of off-road trails, and underlying macroeconomic factors such as economic stability and government policies. As the market continues to evolve, manufacturers are likely to focus on innovation and sustainability to meet the changing demands of customers and ensure long-term growth.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on motorcycle sales and revenue excluding scooters/mopeds under 50cc category.

Modeling approach / Market size:

Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use manufacturer websites, national statistics offices, motorcycle associations, motorcycles sales websites. Next we use relevant key market indicators and data from country-specific associations such as GDP per capita, consumer price index, consumer spending, and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the forecasting is done on a make level for Motorcycles, using a mix of standard approaches, e.g., exponential smoothing, and uses parameters which best fit the historical data. The main drivers are GDP per capita, consumer price index, consumer spending, and population.

Additional Notes:

The market is updated once a year.