Press release
Accelerating Adventure: Navigating Growth Opportunities in the Dirt Bike Market - Share Analysis, Strategies and Key Players - Honda Motor Co. Ltd., Suzuki Motor Corporation, Kawasaki Heavy Industries Ltd
Dirt Bike Market
The Business Research Company offers in-depth market insights through Dirt Bike Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The dirt bike market size has grown strongly in recent years. It will grow from $7.66 billion in 2023 to $8.24 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to off-road recreation trends, motorsports and racing culture, youth and entry-level appeal, outdoor lifestyle and exploration, evolution of trail riding..
The dirt bike market size is expected to see strong growth in the next few years. It will grow to $10.54 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to sustainable and eco-friendly riding, electric dirt bikes, adventure tourism and dirt biking, innovation in lightweight design, digital platforms and community building.. Major trends in the forecast period include focus on safety and rider assistance systems, expansion of youth and entry-level models, integration of sustainable manufacturing practices, evolving off-road riding experiences, global market expansion and emerging economies..
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Market Segmentation:
The dirt bike market covered in this report is segmented -
1) By Type: Motocross Motorcycle, Enduro Motorcycle, Trail Motorcycle, Track-Racing Motorcycle
2) By Propulsion Type: Internal Combustion Engine (ICE), Electric
3) By Price Range: Low To Mid, High
4) By Application: Utility, Sports, Recreation, Military
Major Driver - Adventure Tourism Boosts Dirt Bike Market Growth
The rise of adventure tourism is expected to propel the growth of the dirt bike market going forward. Adventure tourism is a type of travel and recreational activity involving individuals seeking out thrilling and often physically challenging outdoor experiences in natural and remote environments. Adventure tourism enthusiasts actively seek exhilarating outdoor experiences, often in demanding off-road terrains like rugged trails, mountains, deserts, and forests, where dirt bikes stand out as a favored choice due to their suitability for such environments. For instance, in January 2022, according to the Outdoor Industry Association, a US-based non-profit organization, 51.4 million individuals participated in outdoor activities such as road biking, mountain biking, and bike motocross (BMX) in 2021, an increase of 7.32% from the 47.9 million participants in 2019. Moreover, 17.3% of Americans participated in 2021, compared to 15.9% in 2020. Therefore, the rising popularity of motocross events will drive the growth of the dirt bike market.
Competitive Landscape:
Major companies operating in the dirt bike market report are Honda Motor Co. Ltd., Suzuki Motor Corporation, Kawasaki Heavy Industries Ltd., Husqvarna Motorcycles, TVS Motor Company, BMW Motorrad, KTM AG, Agrale SA, Christini Technologies Inc., Zero Motorcycles Inc., Aprilia, Betamotor S.p.A., Montesa Honda SA, Beta Technologies Inc., Rieju SA, GasGas, Sherco, Husaberg Motorcycle Company, Benelli Q.J., Cobra MOTO LLC, Scorpa, Polini Motori S.p.A., DRR Inc., Kuberg, AJP Motorcycle, AKT Motos, Alta Motors Inc., TM Racing S.p.A., Bultaco Motors Company, SSR Motorsports
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Top Trend - Advancements In Eco-Friendly Electric Dirt Bikes Transform Off-Road Riding
Major companies operating in the dirt bike market focus on developing eco-conscious and technologically advanced off-road vehicles, such as electric dirt bikes, to enhance performance and expand their customer base. An electric dirt bike is an off-road motorcycle powered by electricity, utilizing electric motors and batteries for propulsion and offering a quieter and more eco-friendly alternative to traditional gas-powered dirt bikes. For instance, in April 2023, Luna Cycle Limited, a US-based electric bike manufacturer, introduced the Sur-Ron Killer Talaria Sting R MX4 Motorbike, an electric trail bike that offers 50% more power at an affordable price point. This new model, while similar in size and weight to an electric bicycle, provides the excitement and performance of a dirt bike. Notably, the Talaria Sting R MX4, as tested on Luna Cycle's dynamometer, achieved a peak horsepower of 7.39, a significant improvement over the 4.8 hp of the previous Sur-Ron X and Talaria models. This enhancement is attributed to an upgraded gearbox with reinforced mounts for its gear reduction system.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Dirt Bike Market Characteristics
3. Dirt Bike Market Trends And Strategies
4. Dirt Bike Market - Macro Economic Scenario
5. Dirt Bike Market Size And Growth
…..
27. Dirt Bike Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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