Off-road Motorcycles - NAFTA

NAFTA

Highlights

In 2024, it is projected that the Off-road Motorcycles market segment in NAFTA will generate a revenue of US$2.04bn.
This segment is expected to experience a steady annual growth rate of 3.42% from 2024 to 2029, resulting in a projected market volume of US$2.41bn by 2029.
By that time, it is anticipated that unit sales in the Off-road Motorcycles market segment will reach 426.70k motorcyles.
In 2024, the volume weighted average price of Off-road Motorcycles market is expected to be US$5.46k.
When considering the international market, it is evident that Brazil will generate the highest revenue, reaching US$1.36bn in 2024.
Recent data shows that off-road motorcycles are experiencing a surge in popularity in NAFTA countries, with Mexico leading the way in terms of sales and demand.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Off-road Motorcycles market in NAFTA has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences have played a crucial role in the growth of the Off-road Motorcycles market in NAFTA. Consumers in this region have shown a strong inclination towards recreational activities and outdoor sports. Off-road motorcycles provide an exciting and adventurous experience for these consumers, making them a popular choice. Additionally, the rising popularity of off-road racing events and the influence of social media have also contributed to the increased demand for off-road motorcycles. Trends in the market have further fueled the growth of the Off-road Motorcycles market in NAFTA. Manufacturers have been introducing innovative features and technologies in their off-road motorcycles to attract customers. These advancements include improved suspension systems, lightweight frames, and more powerful engines. Additionally, there has been a growing trend towards electric off-road motorcycles, driven by the increasing focus on sustainability and environmental consciousness. Local special circumstances have also played a role in the development of the Off-road Motorcycles market in NAFTA. The region is known for its vast and diverse landscapes, including mountains, deserts, and forests, which provide ideal terrains for off-road riding. This has created a strong demand for off-road motorcycles among adventure enthusiasts and outdoor enthusiasts in the region. Furthermore, the presence of well-established off-road motorcycle clubs and communities has also contributed to the growth of the market. Underlying macroeconomic factors have also influenced the growth of the Off-road Motorcycles market in NAFTA. The region has experienced steady economic growth, leading to an increase in disposable income levels among consumers. This has enabled more individuals to afford off-road motorcycles and participate in off-road riding activities. Additionally, the availability of easy financing options and the presence of a well-developed distribution network have made off-road motorcycles more accessible to a larger customer base. In conclusion, the Off-road Motorcycles market in NAFTA has been growing due to customer preferences for recreational activities, trends in the market towards innovation and sustainability, local special circumstances such as diverse landscapes and active off-road communities, and underlying macroeconomic factors such as economic growth and accessibility. As these factors continue to drive the market, the Off-road Motorcycles market in NAFTA is expected to further expand in the coming years.

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.