Dirt Bike Market to Reach $18 Billion, Globally, by 2031 at 7.0% CAGR: Allied Market Research

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Rise in popularity & evolution of motocross events, increase in […]

Rise in popularity & evolution of motocross events, increase in disposable income, and rapid adoption of electric dirt bikes drive the global dirt bike market.

PORTLAND, Ore., Oct. 21, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Dirt Bike Market by Type (Motocross Motorcycle, Enduro Motorcycle, Trail Motorcycle, Track-racing Motorcycle), by Propulsion Type (ICE, Electric), by Application (Commercial, Personal, Industrial, Others), by Price Range (Low to Mid, High): Global Opportunity Analysis and Industry Forecast, 2021-2031”. As per the report, the global dirt bike industry was pegged at $9.1 billion in 2021, and is expected to reach $18 billion by 2031, growing at a CAGR of 7.0% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario.

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Drivers, restraints, and opportunities

Increase in popularity & evolution of motocross events, surge in disposable income, and adoption of electric dirt bikes have boosted the growth of the global dirt bike market. However, high purchase costs and maintenance costs hinder the market growth. On the contrary, increase in focus by manufacturers in the automobile industry on superior performance & comfort and technological advancements in dirt bikes would open new opportunities in the future.

Covid-19 scenario:

  • The Covid-19 pandemic severely affected the market due to a halt in production activities, mandated plant closures by the government, and strict lockdown restrictions.
  • Several manufacturing leading made considered efforts in restructuring their supply chain and production line for delivery of critical medical supplies.

The endure motorcycle segment held the lion’s share

By type, the endure motorcycle segment held the largest share in 2021, accounting for nearly two-fifths of the global dirt bike market because they are used for cross-country competitions, trail riding, rally racing, off-road travel, and other such events. However, the tracker-racing motorcycle segment is expected to register the highest CAGR of 9.5% during the forecast period, owing to increased inclination toward track racing activities across the globe.

The electric segment to manifest the highest CAGR through 2031

By propulsion type, the electric segment would showcase the highest CAGR of 12.1% from 2021 to 2030, due to increase in demand for fuel-efficient, high-performance, and low-emission vehicles along with stringent government rules & regulations toward vehicle emission. Moreover, technological advancements followed by proactive government initiatives supplement the demand for electric bikes during the forecast period. However, the ICE segment held the largest share in 2021, contributing to more than 90% of the global dirt bike market, due to rising demand for gasoline-powered vehicles because of lack of sophisticated charging infrastructure across countries further.

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The commercial segment held the largest share

By application, the commercial segment held the largest share in 2021, accounting for nearly half of the global dirt bike market, due to increased promotional activities across the globe which offer pay & use services for the bikes. In addition, increased commercial riding reduces mobility cost, and parking cost reduces employee absence and increases the productivity of the individual. This supplements the market growth. However, the industrial segment is projected to register the highest CAGR of 9.3% during the forecast period, owing to the demand for proper surveillance & security across the industries and the presence of private security services across industries.

North America held the largest share

By region, the global dirt bike market across North America held the largest share in 2021, accounting for around half of the market, due to increasing demand for sports and adventure activities primarily. Moreover, higher expenditures in labor, materials, and overall development in operational & manufacturing methods of dirt bikes supplement the market growth. However, the market across Europe is projected to manifest the highest CAGR of 9.4% during the forecast period, due to the rise in the popularity of motocross events and the health benefits offered by dirt biking sports.

Major market players

  • Benelli
  • Betamotor S.p.A.
  • BMW AG
  • Bultaco Bikes
  • Cobra Moto
  • Honda Motor Co., Ltd.
  • Husqvarna motorcycles
  • Kawasaki Heavy Industries, Ltd.
  • KTM AG
  • Piaggio & C. SpA (Aprilla)
  • Polini motori
  • Scorpa
  • Sherco
  • SSR Motorsports
  • Suzuki Motor Corporation
  • Yamaha Corporation
  • Zero Motorcycles, Inc.

Want to Access the Statistical Data and Graphs, Key Players’ Strategies – https://bit.ly/3eLIHDt

The report analyzes these key players in the global dirt bike market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

Similar Reports We Have on Automotive Industry:

Off-Road Motorcycle Market Expected to Reach $16.02 Billion, at 6.5% CAGR by 2031

ATV and UTV Market Expected to Reach $11.95 billion, at 6.7% CAGR by 2027

All-terrain Vehicle Market Expected to Reach $5 Billion, at 4.8% CAGR by 2031

Utility Vehicle Market Expected to Reach $51.69 Billion, at 9.4% CAGR by 2030

Electric Utility Vehicle Market Expected to Reach $24.98 Billion, at 11.4% CAGR by 2031

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SOURCE Allied Market Research

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