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Dirt Bike market Share
WILMINGTON, NEW CASTLE, DE, UNITED STATES, September 12, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Dirt Bike Market ," The dirt bike market was valued at $9.1 billion in 2021, and is estimated to reach $18.0 billion by 2031, growing at a CAGR of 7.0% from 2022 to 2031.
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The concept of dirt bike 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.
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.
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.
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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.
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.
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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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David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.