Global Off-road Motorcycles Market 2020-2024 | 8% CAGR Projection Through 2024 | Technavio
LONDON--(BUSINESS WIRE)--Jan 17, 2020--
The global off-road motorcycles market is expected to post a CAGR of more than 8% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global off-road motorcycles market 2020-2024. (Graphic: Business Wire)
Off-road motorcycle manufacturers are continuously improving their products in terms of engine design, suspension systems, braking, transmission, and combustion technologies. For instance, vendors have developed adjustable compression dampening suspension systems that automatically adapt to the speed of the motorcycle. Similarly, the off-road motorcycle tires now come with reinforced carcasses and wide grooves to provide traction in various terrains and conditions. Such advances are improving the capabilities of off-road motorcycles, which is crucial in driving the growth of the market.
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As per Technavio, the advances in suspension technologies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Off-Road Motorcycle Market: Advances in Suspension Technologies
Vendors in the market are increasing their focus on the development of advanced suspension systems to improve the performance of off-road motorcycles under extreme levels of stress. For instance, several vendors are offering custom-built shock absorbers and springs that improve the off-roading capabilities of motorcycles. Some vendors are offering advanced fork springs, shock springs, and shock absorbers that improve the handling of the motorcycle. Such advances are expected to have a positive impact on the growth of the global off-road motorcycle market during the forecast period.
“Increase in the number of launches of off-road motorcycles and the rising popularity of all-electric off-road motorcycles will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Off-Road Motorcycle Market: Segmentation Analysis
This market report segments the global off-road motorcycles market by geography (APAC, Europe, MEA, North America, and South America) and application (recreational and defense).
The North American region led the market in 2019, followed by Europe, APAC, MEA, and South America respectively. During the forecast period, the North American region is expected to maintain its dominance over the market. This is due to the growing popularity and the increasing number of off-road racing events in the region. Moreover, the introduction of new models of off-road motorcycles will also contribute to the growth of the off-road motorcycle market.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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INDUSTRY KEYWORD: OFF-ROAD TRUCKS & SUVS MOTORCYCLES AUTOMOTIVE
SOURCE: Technavio Research
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PUB: 01/17/2020 03:00 PM/DISC: 01/17/2020 03:00 PM