Global off road motorcycle market is estimated to reach 412 thousand units by the year 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
Key pointers incorporated in the report are listed below:
- In accordance with regional share, North America market is predicted to be the biggest contributor to off road motorcycle market revenue over the estimated period.
- Based on application, the recreation application segment led the global market with respect to revenue, in the year 2017.
According to the report, the burgeoning demand for sports and adventure activities, together with private organization initiatives to endorse biking activities has surged the usage of off road motorcycles. The rapid increase in tourism activities and mounting disposable income of customers further advances the earnings of the market. Surging investments by vendors in technical enhancements, growing adoption of electric bikes, and increasing standard of living would expedite the adoption of these motorcycles over the estimated period. Intensifying demand from developing nations, and rising demand from military and defense applications are estimated to offer enormous growth opportunities to the off road motorcycle market over the projected period.
Speaking of the regional penetration, the North America market segment garnered the highest earnings in the year 2017 and is forecast to lead the market during the predicted period. As per the study, the rising trend of adventure sports and augmented purchasing power of customers residing in nations such as Canada and the US has stimulated market growth in the region. Additionally, the snowballing tourism sector in the region also adds impetus to regional market growth. The rising demand from defense vertical is predicted to enhance market earnings in the region over the forecast duration. The Asia Pacific market is projected to grow at the maximum speed during the estimated period on account of increasing disposable incomes of customers in Australia, China, India, and South Korea, and the thriving tourism sector, cites the report.
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The report also provides an all-embracing analysis of the off road motorcycle marker drivers, restraints, industry trends, and opportunities over the estimated time slab. A deep-dive analysis of the market in terms of product type, distribution channel, regional landscape, application segmentation, and competitive outlook has also been elaborated in the report. In addition, complete information about top market partakers has been outlined in the report under the heads of company overview, financials, product benchmarking, and recent developments.
The top most organizations profiled in this business sphere include ROKON International Inc, Husqvarna Motorcycles GmbH, Kawasaki Motorcorp, Chritini Technologies, KTM AG, Ural Motorcycles, Alta Motors, BMW Group, and TRS Motorcycles. These business leaders count on tactics such as launching new products and collaborating with other business leaders to accumulate a larger share of the global market.