Market Trends of Dirt Bike Industry
Motocross Dirt Bike to Witness Highest Demand
- People's growing interest in sports and recreational activities has emerged as a major driving factor for the segment. The manufacturers are working toward making frequent advancements in developing a variety of eco-friendly vehicle versions, thus, further boosting the market size of dirt bikes. Further, the rising popularity of moto-vlogging has also provided significant momentum to the overall dirt bike segment focused on adventurer tourer bikes as well. These bikes also boast amazing off-road capabilities and a rugged build, making them impressive over rough terrain and mud.
- Companies operating in the segment were looking ahead to host a competition and introduced the best effective off-road dirt bikes to engage consumer stance. For instance:
- In September 2022, Triumph Motorcycles announced plans to compete in the prestigious FIM Motocross World Championship in 2024. Under this announcement, the company would compete with its factory-supported race program under the all-new Triumph Racing banner. Triumph Racing Team has also set up a partnership with Thierry Chizat-Suzzoni, who is one of the sport's most experienced and successful team owners. Further, for the racing event, two of Triumph's all-new 250cc 4-stroke MX bikes in the 2024 MX2 class will add an entry into the 450cc MXGP class in 2025.
- Governments across the mentioned geographies are actively taking up potential initiatives to reduce their carbon footprints by encouraging the adoption of electric dirt bikes, to make the environment carbon-free. Furthermore, governments worldwide support the purchase of electric dirt bikes in terms of tax credits and incentives to encourage the use of these bikes. As the competition in off-road bikes increases, startups and companies are firing on all their potential to roll out electric dirt bikes to match their competitor's necks. For instance:
- In June 2023, Beta USA announced the launch of a new model in their current model lineup. According to company sources, the all-new Beta Explorer is a 100% electric E-Moto bike that is designed to appeal to adult riders of all ages and experience levels. The new model came out as a collaboration between Beta USA and Apollo Moto for a fun off-road adventure.
- Furthermore, Increasing off-road terrains, promoting recreational activities by Universities and motorsports associations coupled with rising national rally championships is anticipated to unfold enormous opportunities for dirt bikes across the globe over the coming next decade, and this is presumed to have a subsequent impact on market demand during the forecast period.
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Asia-Pacific to Remian Flag Bearer for the Market Growth
- Asia-Pacific has showcased the immense potential for the growth of the dirt bike market over the year. This is attributed to a sudden shift in the interest of motorsports enthusiasts in India, China, and other ASEAN countries to ward off off-road and adventure rides with dirt bikes.
- Owing to last decades, these motorsports and rally championships were headed by the United States, Brazil, Argentina, and other American and European countries. However, the trend has changed, and now Asia Pacific countries, including India, China, Vietnam, Indonesia, Thailand, Malaysia, and others, are equally organizing these competitions in order to engage the enthusiast's stance.
- Key motorsports rally organizations have partnered with mobility leaders in order to increase the dirt bike championships across the Asia-Pacific in order to fuel the market potential. Companies are launching different events to aware the youth about off-roading enthusiasm and competitions. For instance:
- In July 2022, Hero MotoCorp launched the Hero Dirt Biking Challenge initiative, which was an India-wide talent hunt for budding off-roading racers. The event hosts qualifying rounds in 45 cities and gave up grabs some handy sponsorship contracts along with the chance to be personally trained by some of Hero MotoSports' leading rally racers, Joaquim Rodrigues and CS Santosh. The event was concluded in the month of November 2022, and the winner, runner-up, and second runner-up received the hero Xpulse 200 4V motorcycle and sponsored contracts worth 10, 6, and 4 lakhs.
- Across China as well, motorsports events are in full swing, and the local federation and rally organizers are taking the initiative to organize events in order to engage youth. For instance:
- In April 2023, The 2023 China Motocross Championship opened up in North China's Inner Mongolia autonomous region. The event concluded with the three-day challenging national event that drew dozens of racing teams and individual motorcyclists across China to compete in several rounds at the Silver Sand Bay in Huree Banner of Tongliao. In addition, the racing participants were divided into bifurcated based on their vehicle type, age.
- Considering these potential events being organized n the region coupled with shifting youth stance towards the adoption of motorsports events, the market is anticipated to witness a high growth rate supported by the Asia-Pacific region.
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