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A14786 | Pages: 325 | Charts: 60 | Tables: 102 |
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:
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.
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.
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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.
[APPLICATIONGRAPH]
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.
[REGIONGRAPH]
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
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Key Market Segments
Key Market Players