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Adventure motorcycles also known as ADV bikes or larger-displacement multi-cylinder motorcycles are street legal machines which have a touring capability on paved and unpaved roads thus covering long distances and providing the rider with relative comfort. The adventure motorcycles are equipped with suspension and rugged tires and are usually based on off-road vehicle chassis with added rear-view mirrors, instruments, lights, and signals and can be used for public road permits as well as for riding cross country. They have a higher center of gravity, higher seat height, and advanced suspension systems with enhanced shock absorbing capabilities that offers enhanced durability and high performance in mountainous and rocky terrains, steep slopes, and grassy regions. The installation of pannier bags makes the adventure bikes an ultimate choice for the riders and motorcyclists who perform in racing competitions, or encounter off-road terrain and adventure tours. The increasing demand for adventure and sports activities are the major factors that are driving the growth of the adventure motorcycle market. Moreover, the rise in disposable income along with the improvement of standard of living among people has encourage them to participate in adventure activities, thereby propelling the growth of the market across the globe.
Globally, the adventure motorcycle market is segmented by type, by application type, and by geographic coverage. Based on type, the market is further segmented into 500CC to 1000CC and above 1000CC engine capacity motorcycles. The 500 to 1000CC engine capacity motorcycles accounts for the significant share in the global market as compared to motorcycles having more than 1000CC engine capacity.
The 500CC to 1,000CC engine capacity is light in weight as well as easy to control when riding on rough terrain, owing to which these engine capacity motorcycles are majorly preferred by adventure bikers and motorcyclists. Moreover, these motorcycles have the ability to easily carry camping equipment, food, spare parts, and two people for off-road and long-distance travel. The manufacturers also provides two-cylinder and four-cylinder types as per the requirement of the consumer. Two-cylinders are more economical, whereas four-cylinders provide a smoother ride. The application type is further segmented into off-road market and street market. The off-road market holds the largest share in the global adventure motorcycle market owing to the growing popularity for off road adventure biking across the world. Also, the off road motorcycles are driven by the advent of off-road motorcycle training centres such as BMW Performance Center Off-Road Motorcycle Training, Black Swan Moto Off-Road Training Program among many others. The development of the cross-country motorcycle training centres will continuously increase the purchasing power among individuals. As these training centres offers relevant techniques and skills, there will be a rise in the inclination towards purchasing cross-country bikes among people. This in turn is expected to increase the sales and production of the adventure motorcycle in the global market.
Key Market Driver -
Growing popularity for adventure and long distance touring on bikes is expected to drive the growth of the market in the forecast period.
Key Market Restraint -
Low cost and advancement in commuter motorcycles may hamper the growth of the market during the forecast period.
Major players operating in the global adventure motorcycle market include KTM Sportmotorcycle GmbH, BMW Group, Kawasaki Motors Corp., Benelli Q.J., YAMAHA Motor Pvt. Ltd., PIAGGIO & C SPA, Honda Motor Company, Triumph Motorcycles, Ducati Motor Holding S.p.A, and suzuki motor corporation among others.
Geographically, the adventure motorcycle market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific holds the major share in the global market and is expected to propel further during the forecast period. The high demographic growth, increasing urbanization, rapid industrialization, improving living standards, and rise in the purchasing power among people are the major reasons for the aggressive expansion of the motorcycle manufacturing companies. The increasing awareness of off-road motorcycle competitions and events is likely to create high demand in this region. Also, the continuous growth in the sales and production of motorcycles, the market has been experiencing a rapid growth. Moreover, the shift in the focus of global players in this region and technological advancement have provided a much-needed impetus for the automotive off-road motorcycle market.
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