The off-road motorcycle market is anticipated to reach 412,000 units by 2026, according to Wise Guy Reports. In 2017, the recreation application dominated the global market in terms of revenue. North America is expected to be the leading contributor to the off-road motorcycle market revenue during the forecast period.
The growing demand for sports and adventure activities, along with initiatives from private organizations to promote biking activities has boosted the adoption of off-road motorcycles. The rising tourism activities and growing disposable income of consumers further support the growth of this off-road motorcycle market. Increasing investments by vendors in technological advancements, improving living standards and growth in adoption of electric bikes would accelerate the adoption of off-road motorcycles during the forecast period. Growing demand from emerging economies, and increasing demand from defense sector are expected to provide numerous growth opportunities for off-road motorcycle market during the forecast period.
The North American off-road motorcycle market generated the highest revenue in 2017, and is expected to lead the global market throughout the forecast period. The growing trend of adventure sports in this region and high purchasing power of consumers in countries such as U.S. and Canada drive the market growth. The growing demand from the defense sector is expected to boost the market growth in this region during the forecast period.
The Asian-Pacific off-road motorcycle market is expected to grow at the highest rate during the forecast period, owing to increasing disposable incomes of consumers in India, China, Australia and South Korea, and the flourishing tourism industry.
The leading companies profiled in the off-road motorcycle market report include Husqvarna Motorcycles GmbH, TRS Motorcycles, Kawasaki Motorcorp, Alta Motors, Chritini Technologies, Ural Motorcycles, KTM AG, BMW Group and ROKON International Inc. These companies launch new products and collaborate with other market leaders to innovate and be sure that new products to meet the increasing needs and requirements of consumers.
Link: Wise Guy Reports