Press release
Dirt Bike Market Product Development Strategies by Prominent Players: Honda, Yamaha, Suzuki, Kawasaki, Husqvarna Motorcycles, Beta moto, BMW, Aprilia, KTM, Bultaco
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COVID-19 scenario analysis:
• The global coronavirus pandemic has hit economies of several countries hard.
• Also, the recession due to novel coronavirus pandemic is anticipated to be possibly even worse than the 2008 global economic recession.
• The impact of coronavirus on motorcycle manufacture and supply of components is already being witnessed by the industry.
• Even when the world would emerge out of the coronavirus crisis, the global dirt bike industry will be hit hard due to decreased consumer spending and increasing recession.
• Additionally, sports events for dirt bike has also been halted due to the pandemic. However, dirt bike enthusiasts would contribute to sales to some extent.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
The rise in popularity of motocross events is primarily driving the market of dirt bike market. Besides, the health benefits offered by dirt biking sports is fueling market growth. Additionally, the rise in number of motocross enthusiasts and rise in disposable income is propelling the market growth. However, high maintenance cost of dirt bikes is hindering the market growth. Moreover, growing media influence has proliferated the viewers of the event, which, in turn, increases the demand for dirt bikes. Furthermore, rising number of sponsorships to riders and races from big brands is fostering the dirt bike market.
The dirt bike market trends are as follows:
Electric dirt bike to bolster the market
With the rising prices of fuel and an increase in the concern of global warming, the demand for electric mobility has increased. Besides, the maintenance of the electric dirt bike is also less due to fewer moving parts. Additionally, electric dirt bikes are extremely quiet. Considering the advantages offered by the electrification of dirt bikes, the automakers are investing in the production of an electric dirt bike. For instance, in 2019, Husqvarna launched its first electric dirt bike. Also, Tesla is planning to roll out electric dirt bikes.
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Dual-purpose motorcycle to accelerate the growth
Dual sport motorcycle is engineered to drive on off-road conditions as well as equipped with street-legal equipment like light, speedometer, horns, license plate, and others to drive on streets. In recent years, dirt bike motorcycling and adventure touring are gaining popularity fast. Moreover, the buying pattern of consumers has shifted towards fully-faired sports bikes to bikes which will offer a ride in the unknown territory to explore more. In 2019, Yamaha launched WR155 dual-purpose motorcycle in Indonesia. Besides, the UM dual-sport motorcycle is being tested for launch in India.
Key benefits of the report:
• This study presents the analytical depiction of the dirt bike industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed dirt bike market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the dirt bike market research report:
• What are the leading market players active in the dirt bike market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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About Allied Market Research
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