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2023

Adventure Motorcycle Market

Adventure Motorcycle Market Size, Share, Competitive Landscape and Trend Analysis Report by Engine Capacity, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

AT : Automotive systems and accessories

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Author's: Anant Bisht | Lalit Janardhan Katare
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The global adventure motorcycle market size was valued at $31.8 billion in 2022, and is projected to reach $64.5 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032.

Report Key Highlights:

  • The report covers a detailed analysis on the technology used in the Automotive systems & accessories.
  • The market has been analyzed from the year 2022 till the year 2032.
  • Latest developments have been mentioned in the research study.
  • Top companies operating in the industry has been profiled in the research study.
  • The research study includes different segments & regions across which the market has been analyzed.

Adventure motorcycle is a type of motorcycle which is designed to be versatile and capable of handling tough terrain. The motorcycle has a frame which can handle off-road and can travel long distances on the highway. Adventure motorcycles are used for travelling long distances, trail riding, and even for short rides to a campsite.

Adventure Motorcycle Market

The motorcycle has longer travel suspension than other types of motorcycle and also has large fuel carrying capacity. These motorcycles are also equipped with dual purpose tires which are capable of travelling on road as well as off-road. To assist the rider the adventure motorcycle is also equipped with various riding modes. The riding mode helps the rider to ride safely on any terrain such as gravel, mud, and sand. This motorcycle has a large number of accessory portfolios. The portfolio includes saddle stay and saddle bags, top rack and panniers to carry rider’s tent, clothes and other essential items.

The adventure motorcycle is available in various engine capacities. For instance, manufacturers such as Royal Enfield offer Himalayan 411, which is a 411cc long stroke motor and have a big market share in adventure motorcycle industry in India. Similarly, KTM also offers KTM 390 adventure, a 373cc engine which produces 43 horsepower and 37 newton meters of torque. The motorcycle also has riding modes, traction control, and cornering ABS. Adventure motorcycles are packed with technology which assists the rider on any type of terrain. Adventure motorcycles with higher capacity engines have rider assist functional features and advanced technology. 

Adventure Motorcycle Market by Engine Capacity

These advanced systems in the adventure motorcycle aids the motorcycle to be sold in off-road motorcycle segment, as well as on-road motorcycle segment. The factors such as growing adventure tourism industry and rise in disposable income supplement the growth of the adventure motorcycle market. However, low cost and advancement in commuter motorcycles and high cost of adventure motorcycles are the factors expected to hamper the growth of the market. In addition, integration of digital technologies and demand for light weight and agile designs creates market opportunities for the key players operating in the adventure motorcycle industry. 

The global adventure motorcycle market is segmented by engine capacity, application, and region. By engine capacity, the market is classified into less than 500cc, 500-1000cc, and above 1000cc. By application, the market is bifurcated into off-road, and on-road. By region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.

The leading players operating in the adventure motorcycle industry are KTM AG, Ducati Motor Holding S.p.A., TRIUMPH MOTORCYCLES, BMW AG, Yamaha Motor Co., Ltd., Honda Motor Co., Ltd., Harley-Davidson, Kawasaki Heavy Industries, Ltd., Suzuki Motor Corporation, and Eicher Motors Ltd.

Adventure Motorcycle Market by Application

Growth in adventure tourism industry

Adventure motorbike riding has grown in popularity as a means to explore new locations and have exhilarating adventures. Demand for adventure motorcycles is driven by the desire for adventure and the freedom to explore the unknown. Many riders are lured to the sense of adventure that comes with long-distance excursions and off-road expeditions. The availability of organized adventure tours and events boosts the popularity of adventure motorcycles even more. For instance, Royal Enfield organizes an event known as Himalayan Odyssey in which 50-90 riders participate from around the world. The riders travel in the Himalayan regions of India for 18-20 days and cover 2000-3000 kilometer on Royal Enfield Himalayan 411 adventure motorcycle.

Rise in disposable income

Disposable income plays a crucial role in driving the adventure motorcycle market. Adventure motorcycles are often considered premium, with advanced features for off-road and highway usage. As an individual has more disposable income, they are more likely to invest in an adventure vehicle. The extra income empowers potential buyers to afford not only the motorcycles themselves but also the associated gear, accessories, and travel experience, which is an integral part of the experience.

 

High cost of adventure motorcycle

The specialized features and capabilities, adventure motorcycles are generally more expensive than other types of motorcycles. Prices can range from budget-friendly options to higher-end models with advanced technology and performance capabilities. For example, the Royal Enfield Himalayan is priced at around $5,449, offering an affordable entry point into the adventure motorcycle segment on the other hand, more premium options like the Ducati Multistrada V4 can range from $19,995 to $26,095, offering advanced features and performance. The Ducati’s Multistrada Pikes Peak model with more features has a price tag of $31,595. The high prices of adventure motorcycles make them less accessible to a broader variety of potential purchasers, particularly those on a tight budget or looking for a more reasonable option. Furthermore, adventure motorcycles frequently require specialized maintenance and have greater operating expenses than standard motorcycles. This can involve costs such as regular maintenance, specialized tires, and increased fuel consumption. The increased overall cost of ownership may dissuade potential buyers who are concerned about long-term expenses.

Adventure Motorcycle Market by Region

Integration of digital technologies

Adventure motorcycles have seen significant advancements in technology in recent years. These advancements aim to enhance performance, safety, comfort, and overall riding experience. Premium adventure motorcycle are equipped with the electronic suspension which is absent in the mid and low engine capacity adventure motorcycles. Many motorcycle manufacture are trying to integrate navigation system into main console. For instance Royal Enfield has unveiled a pre-production prototype of Himalayan adventure motorcycle in which the company has integrated the navigation system in the main console, which might be present in the future motorcycles of the brand. Similarly riding modes are also presents in a few adventure vehicle but need more research and development to assist the rider on the tough terrain.

Many motorcycle manufacturers are also working to offer a seamless blind spot radar and improving rider aids such as riding modes. Motorcycle blind spot radar systems are expected to become increasingly common as a safety component. These systems employ radar technology to identify vehicles in the motorcycle's blind zones and offer the rider with visual or audio alerts, assisting in the prevention of accidents caused by lane changes or merging maneuvers.  

Key Developments

  • In October 2023, Suzuki Motor Corporation launched the new V-STROM 800 sport adventure tourer. The V-STROM 800 is a new variant model of the V-STROM 800DE. The V-STROM 800 was designed for comfort and performance on paved roads as well as long-distance travel. The launch is expected to extend the product portfolio of the company.
  • In September 2023KTM launched a new version of 890 Adventure R Rally. The bike has a new suspension, ABS-integrated riding modes, and turn-by-turn navigation software. The launch enhanced the existing bike's technology and extended the company's portfolio.
  • In April 2023, KTM launched an entry-level variant of the KTM 390 Adventure known as KTM 390 Adventure X. The variant has no riding modes and has an LCD display. The launch of the new entry-level variant is expected to attract new customers in the market.
  • In November 2022, Suzuki Motor Corporation launched the new V-STROM 800DE sport adventure motorbike and GSX-8S street fighter at the EICMA 2022 (Milan Show) in Milan, Italy, from 8 to 13, 2022*1. The V-STROM 800DE will go on sale in February 2023, while the GSX-8S will be on sale in March 2023, mostly in Europe and North America. The launch is expected to attract adventure motorcycle enthusiast in the regions.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the adventure motorcycle market analysis from 2022 to 2032 to identify the prevailing adventure motorcycle market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the adventure motorcycle market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global adventure motorcycle market trends, key players, market segments, application areas, and market growth strategies.

Adventure Motorcycle Market Report Highlights

Aspects Details
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Market Size By 2032

USD 64.5 billion

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Growth Rate

CAGR of 7.5%

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Forecast period

2022 - 2032

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Report Pages

325

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By Engine Capacity
  • Less than 500cc
  • 500cc-1000cc
  • Above 1000cc
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By Application
  • Off-road
  • On-Road
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Italy, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

Yamaha Motor Co., Ltd., Kawasaki Heavy Industries, Ltd., BMW AG, Harley Davidson, Honda Motor Co., Ltd., Ducati Motor Holding S.p.A., Eicher Motors Ltd., KTM AG, TRIUMPH MOTORCYCLES, Suzuki Motor Corporation

Author Name(s) : Anant Bisht | Lalit Janardhan Katare
Frequently Asked Questions?

500cc-1000cc are the upcoming trends of Adventure Motorcycle Market in the world.

On-Road is the leading application of Adventure Motorcycle Market

Asia-Pacific is the largest regional market for Adventure Motorcycle

The global adventure motorcycle market was valued at $31,833.1 million in 2022, and is projected to reach $64,454.7 million by 2032, registering a CAGR of 7.5% from 2023 to 2032.

The key players in the adventure motorcycle market include KTM AG, Ducati Motor Holding S.p.A., TRIUMPH MOTORCYCLES, BMW AG, Yamaha Motor Co., Ltd., Honda Motor Co., Ltd., Harley-Davidson, Kawasaki Heavy Industries, Ltd., Suzuki Motor Corporation, and Eicher Motors Ltd.

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Adventure Motorcycle Market

Global Opportunity Analysis and Industry Forecast, 2023-2032