The factors such as rise in popularity & evolution of motocross events, increase in disposable income, and adoption of electric dirt bikes supplement the growth of the dirt bike market. However, high purchase and maintenance cost of dirt bikes and uncomfortable seating structure are the factors expected to hamper the growth of the market. In addition, rise in focus by manufacturers in the automobile industry on superior performance & comfort and technology advancement in dirt bikes create market opportunities for the key players operating in the dirt bike market.
As per the report, the global dirt bike industry size 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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The concept of dirt bike market is typically attributed to an off-road motorcycle that is built to be lightweight, powerful, fast, and nimble and is designed for use on rough surfaces such as dirt roads or trails. These motorcycles are equipped with rugged tires and suspension for riding cross country or over unpaved ground. Also, it offers enhanced durability and performance in rocky and mountainous terrains, grassy regions, and steep slopes. In addition, it has attractive shape which attracts youth and helps to change their preference. Innovations in the automobile industry paves the way for improved and better dirt bikes regarding comfort, suspension, and safety.
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.
In addition, the dirt bike market has witnessed significant growth in recent years, owing to the increase in investments in automation, launches of new & technologically advanced products, surge in consumer demand for high speed, attractive design, and digital dashboards, and government initiatives for vehicles production for mountain areas. Furthermore, the companies operating in the market have adopted partnerships, investments, and product launches to increase their market share and expand their geographical presence. For instance, in in July 2021, Zero Motorcycles, Inc. launched the Zero FXE electric dirt bike. It featured a 7.2kWh battery pack with a promised range of 161 km with two riding modes, eco, and sport.
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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.
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.
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