Global Adventure Motorcycles Market 2017-2021
About Adventure Motorcycles
Motorcycles vary according to design and serve various purposes such as cruising, long-distance travel, commuting, sport or racing, and off-road riding. Hildebrand & Wolfmuller became the first series of motorcycles produced in 1894. In most developing countries, motorcycles are preferred as they provide fuel economy and cost-effectiveness. Globally, APAC is the largest market for motorcycles and accounts for a market share of more than 90% of the global motorcycle market. Adventure motorcycles are a subset of dual sports motorcycles. Both these are designed to be ridden off-road as well as on asphalt. Adventure motorcycles fall more toward the street bikes segment but, the significance of long ride comfort can also be used for light trail off-roading. Dual sports motorcycles incline more toward the motocross segment with off-roading features.
Technavio’s analysts forecast the global adventure motorcycles market to grow at a CAGR of 10.08% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global adventure motorcycles market for 2017-2021. To calculate the market size, the report considers the products that are originally manufactured by vendors
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Adventure Motorcycles Market 2017-2021
Technavio recognizes the following companies as the key players in the global adventure motorcycles market: BMW Group, Honda Motor Company, KTM, and Yamaha
Other Prominent Vendors in the market are: Aprilia, Benelli Q.J., Ducati Motor Holding, Kawasaki Motors Corp, Suzuki Motor, and Triumph Motorcycles.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing use of active suspension systems. Most of the motorcycles are designed with a suspension system that works according to the condition of the road. This is called passive suspension system. A new type of suspension system, which acts perpendicular to the road, is connected with the chassis of the motorcycle. This is called active suspension system. It is more suitable for off-road motorcycles because passive suspension systems are not effective on off-road terrains. Most off-road motorcycles use passive suspension system with a longer suspension rod. The awareness of off-road motorcycles has forced the manufacturers to adapt to newer technology to sustain in the market. Manufacturers such as KTM, Suzuki, and Yamaha have started making off-road type motorcycles with semi-active suspension systems. This trend of the use of active suspension systems in adventure motorcycle could have a positive impact on the market.”
According to the report, one of the major drivers for this market is Growing popularity of long-distance touring and experiential traveling. The growth of the adventure motorcycles market is based on the growing popularity of long-distance touring. It has been observed that adventure motorcycles are better equipped with amenities required for long-distance touring. Most riders in this segment are aged between 50-54 years, followed by 45-49 years and 55-59 years. These motorcycles are expensive averaging a price more than $20,000, with clothing and gear adding another $3,000. Hence, younger riders may find it difficult to afford. However, the adoption rate of adventure motorcycles has rapidly increased as they fulfill most of the rider's requirement in long-distance touring as well as on asphalt.
Further, the report states that one of the major factors hindering the growth of this market is High penetration of commuter motorcycles in emerging countries. OEMs hesitate to enter the emerging countries for adventure motorcycle sales due to the high penetration of commuter motorcycles in these countries. The price of adventure motorcycles is high. This is one of the primary reasons for their inability to penetrate in the developing countries' market.
BMW Group, Honda Motor Company, KTM, Yamaha, Aprilia, Benelli Q.J., Ducati Motor Holding, Kawasaki Motors Corp, Suzuki Motor, and Triumph Motorcycles.