Off-road Motorcycles - Eastern Asia

Eastern Asia

Highlights

The Off-road Motorcycles market segment in Eastern Asia is expected to generate a revenue of US$418.50m in 2024.
Looking ahead, the segment is projected to experience a steady annual growth rate (CAGR 2024-2029) of 1.50%, resulting in a market volume of US$450.90m by 2029.
By that time, unit sales in the Off-road Motorcycles market segment are anticipated to reach 72.42k motorcyles.
The volume weighted average price of Off-road Motorcycles market in 2024 is expected to be US$6.15k.
In terms of international revenue, Brazil is projected to generate the highest amount, with US$1.36bn in 2024.
In Japan, the off-road motorcycle market is booming due to the country's rugged terrain and strong interest in outdoor recreation.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Off-road Motorcycles market in Eastern Asia is experiencing significant growth and development due to several factors.

Customer preferences: Customers in Eastern Asia have shown a strong preference for off-road motorcycles in recent years. This can be attributed to the growing popularity of outdoor recreational activities, such as motocross and trail riding, in the region. Off-road motorcycles provide an exciting and adventurous experience for riders, making them a preferred choice among thrill-seeking customers. Additionally, off-road motorcycles are often seen as a status symbol and a means of self-expression, further driving their demand in the market.

Trends in the market: One of the key trends in the Off-road Motorcycles market in Eastern Asia is the increasing demand for electric off-road motorcycles. With the growing concern for environmental sustainability, customers are becoming more conscious of the impact of their choices on the environment. Electric off-road motorcycles offer a greener alternative to traditional gasoline-powered bikes, as they produce zero emissions and have lower noise levels. This trend is expected to continue as governments in the region implement stricter regulations on emissions and noise pollution. Another trend in the market is the rising popularity of off-road motorcycle events and competitions. Eastern Asia has seen a surge in motocross and off-road racing events, attracting both professional riders and enthusiasts. These events serve as platforms for manufacturers to showcase their latest off-road motorcycle models and technologies, generating further interest and demand in the market. The increasing participation in these events also fuels the sales of off-road motorcycles, as riders seek to upgrade their equipment to improve performance.

Local special circumstances: Eastern Asia is home to diverse terrains and landscapes, ranging from rugged mountains to dense forests. This geographical diversity provides ample opportunities for off-road riding, making the region an ideal market for off-road motorcycles. Additionally, Eastern Asian countries have been investing in the development of off-road trails and parks, further promoting the sport and driving the demand for off-road motorcycles.

Underlying macroeconomic factors: The growing economies in Eastern Asia have contributed to the development of the Off-road Motorcycles market. As disposable incomes rise, more individuals are able to afford off-road motorcycles, leading to increased sales. Furthermore, the expanding middle class in the region has resulted in a larger consumer base for off-road motorcycles. The availability of financing options and the presence of a well-established distribution network also play a significant role in the market's growth. In conclusion, the Off-road Motorcycles market in Eastern Asia is experiencing growth and development due to customer preferences for adventure and self-expression, the increasing demand for electric motorcycles, the popularity of off-road events, the region's diverse terrains, and the underlying macroeconomic factors. As the market continues to evolve, manufacturers and industry players should adapt to these trends and special circumstances to capitalize on the opportunities presented in Eastern Asia.

Data coverage:

Data encompasses B2C enterprises. Figures are based on motorcycle sales and revenue excluding scooters/mopeds under 50cc category.

Modeling approach / Market size:

Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use manufacturer websites, national statistics offices, motorcycle associations, motorcycles sales websites. Next we use relevant key market indicators and data from country-specific associations such as GDP per capita, consumer price index, consumer spending, and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the forecasting is done on a make level for Motorcycles, using a mix of standard approaches, e.g., exponential smoothing, and uses parameters which best fit the historical data. The main drivers are GDP per capita, consumer price index, consumer spending, and population.

Additional Notes:

The market is updated once a year.