Off-Road Motorcycle Accessories Market Set to Surge at 5.1% CAGR, to Reach US$ 3,322.0 Million by 2034: Fact.MR Report
Rockville, MD, Nov. 11, 2024 (GLOBE NEWSWIRE) -- The global off-road motorcycle accessories market set for significant growth, projected to reach a valuation of US$ 2,020.1 million in 2024, according to a comprehensive study by Fact.MR. Over the forecast period of 2024 to 2034, the market expected to grow at a steady CAGR of 5.1%, driven by rising investments in road infrastructure and advancements in paving technology.
Off-road motorcycle accessories include special components and equipment designed to enhance performance, safety, and comfort for motorcycles used in off-road environments. These accessories range from protective gear like helmets, gloves, body armor, to performance parts such as systems of exhaust and suspension kits to other practical additions such as luggage systems and GPS trackers. Prepared for rough tracks and weather conditions, these accessories not only tend to make the riders' lives easier but also safer on those difficult rides.
The growing popularity of off-road motorcycling, particularly in developed countries, is a strong driver for the demand of these accessories. The global off-road motorcycle accessories market is projected to reach US$ 3,322.0 million by the end of the forecast period in 2034. Over the next decade, the market is expected to grow 1.6X times, yielding an incremental dollar opportunity of US$ 1,301.9 million from 2024 to 2034.
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Key Takeaways from Market Study
- The global off-road motorcycle accessories market is projected to grow at a CAGR of 5.1%, reaching US$ 3,322.0 million by 2034.
- The market created an opportunity of US$ 1,301.9 million between 2024 and 2034.
- East Asia is a prominent region, estimated to hold a market share of 23.9% in 2034.
- Leading market players include Honda Motor Co., Ltd., KTM AG, Yamaha Motor Co., Ltd., Kawasaki Heavy Industries, Ltd., Husqvarna Motorcycles, and Suzuki Motor Corporation.
- Motocross Bikes, by motorcycle type, are expected to grow at a CAGR of 5.0%, creating an absolute dollar opportunity of US$ 410.5 million between 2024 and 2034.
"Strategic investments in innovative off-road motorcycle accessories, such as lightweight materials, improved safety features, and enhanced performance, will be crucial for gaining a competitive edge in the global off-road motorcycle accessories market. As the popularity of adventure and off-road biking grows worldwide, adopting sustainable production methods and cutting-edge designs will help manufacturers meet rising consumer expectations and regulatory standards," says a Fact.MR analyst.”
Leading Players Driving Innovation in the Off-Road Motorcycle Accessories Market
Leading players in the global off-road motorcycle accessories market include Honda Motor Co., Ltd., KTM AG, Yamaha Motor Co., Ltd., Kawasaki Heavy Industries, Ltd., Husqvarna Motorcycles, Suzuki Motor Corporation, GasGas Motorcycles, Beta Motorcycles USA, BMW Motorrad, Sherco Motorcycles, TM Racing, Cobra Moto, Ducati Motor Holding S.p.A., Royal Enfield, Other Prominent Players
Factors Contributing to Market Growth:
The global off-road motorcycle accessories market is experiencing significant growth, driven by rising demand for recreational activities and adventure sports. As more people embrace off-road biking, investments in high-quality accessories such as helmets, protective gear, and performance-enhancing components are on the rise. For instance, India's motorcycle production increased 9.2% to 19.4 million units and sales grew 16.9% to 15.8 million units from year 2022 to 2023, leading to increased demand for accessories. Similarly, developing nations are key contributors to the market’s growth, with expanding off-road biking communities.
Market Development
The off-road motorcycle accessories market is seeing a strong focus on creating efficient, versatile, and rider-specific designs to meet the evolving demands of off-road enthusiasts.
Key players in the market are actively investing in research and development, forming partnerships with industry leaders, and exploring new market opportunities to stay competitive and cater to the growing adventure biking community.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global off-road motorcycle accessories market, providing historical data from 2019 to 2023 and forecast statistics for 2024 to 2034.
The study offers essential insights based on Product Type (Performance Parts (Exhaust Systems, Engine Enhancements, Suspension Kits, Air Intake Systems, and ECU Tuning Devices), Protection Accessories (Skid Plates and Frame Guards, Handguards, Radiator Braces, Chain Guards and Covers, Footpeg Protectors, and Others), Rider Gear (Helmets and Goggles, Boots and Gloves, and Protective Clothing), Aesthetic Accessories (Graphic Kits and Decals, Custom Seats and Handlebars, Custom Footpegs and Levers), Smart Accessories (Action Camera & Mount, RFID Ignition Lock, GPS Tracker, Airbag Vest, Helmet Brake Light, Smart Motorcycle Gloves, and Others), Others), Motorcycle Type (Motocross Bikes, Enduro Bikes, Dual-Sport Bikes, Adventure Touring Bikes, Trials Bikes), and Sales Channel (OEM and Aftermarket (Online and Offline)) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, Middle East & Africa).
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