Adventure Motorcycle Market Size, Share and Trends 2024 to 2034

Adventure Motorcycle Market Size and Forecast 2024 to 2034

The global adventure motorcycle market size is worth around USD 15.23 billion in 2024 and is anticipated to reach around USD 24.96 billion by 2034, growing at a CAGR of 5.06% over the forecast period 2024 to 2034. Increasing disposable income, growing interest in adventure tourism, technological advancements, and expanding urban infrastructure are the key factors driving the adventure motorcycle market growth.

Adventure Motorcycle Market Key Takeaways

• Asia Pacific dominated the adventure motorcycle market with the largest market share of 62% in 2023.
• North America is anticipated to grow at the fastest rate in the market during the forecast period.
• By type, the 500CC - 1000CC segment accounted for the biggest share of the market in 2023.
• By type, the above 1000CC segment is predicted to grow at a significant rate in the market over the forecast period.
• By application, the off-road market segment dominated the global market in 2023.
• By application, the street market segment is anticipated to grow at a solid CAGR in the market during the forecast period.

Asia Pacific Adventure Motorcycle Market Size and Forecast 2024 to 2034

The Asia Pacific adventure motorcycle market size was exhibited at USD 8.99 billion in 2023 and is projected to be worth around USD 15.60 billion by 2034, poised to grow at a CAGR of 5.13% from 2024 to 2034.

Asia Pacific dominated the adventure motorcycle market in 2023. The rising economic development along with increasing customer’s interest in adventure activities. The increasing industrialization and economic growth in economies such as China, India, and South Korea. Additionally, including rising population, growing income, increasing interest in adventure activities, and the presence of major manufacturers drive demand for adventure motorcycles.

• In May 2024, Zontes, a Chinese motorcycle brand, unveiled its first production three-cylinder bike, the 703F. This is a middleweight adventure motorcycle at a surprisingly affordable price.

North America is anticipated to grow at the fastest rate in the adventure motorcycle market during the forecast period. Owed to the growing concern for outdoor activity as well as adventure tourism, rising disposable income. Added to this is the availability of a wide variety of terrains and the relatively developed infrastructure in the region that enhances the sales of adventure motorcycles specifically among users that require versatile and high-performing bikes for off-road activities or adventure riding. Moreover, the riding tourism culture expanded, along with increased technological development in motorcycles.

• 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). The V-STROM 800DE will go on sale in February 2023, while the GSX-8S will be on sale in March 2023 in Europe and North America.

Market Overview

Adventure motorcycles referred to as ADV bikes are larger displacement multi-cylinder motorcycles designed for on and off-road travel and come with relative comfort to the rider to travel long distances. Adventure motorcycle riding is more centered on the ability to move freely and have the ability to move about the motorcycle, and stay safe while off-road riding. Most of the adventure motorcycles can handle graded dirt and gravel very well. ADV riders commonly enjoy long-distance adventures and often camp out or stay in remote areas.

How can AI impact the adventure motorcycle market

Implementing AI in the adventure motorcycle industry is expanding and revolutionizing the adventure motorcycle market. AI Motorcycles can also possess an essential component called advanced driver assistance systems (ADAS). These systems use sensors and machine learning algorithms to understand the environment, detect potential hazards, and warn the rider or take corrective action automatically. Artificial intelligence enables motorcycles to be safer and smarter at the same time.

• In November 2023, the Starmatter platform by Verge Motorcycles presented a new approach to motorcycling by using such innovations as OTA updates, sensor solutions, artificial intelligence, and a new interface.

Adventure Motorcycle Market Growth Factors

• The growing activity of tourism, especially adventure and off-road tourism, has encouraged the use of motorcycles.
• Increasing disposable income in urban regions allows more consumers to invest in adventure motorcycles.
• Exploring customization options for adventure motorcycles contributes to the adventure motorcycle market expansion further.

Market Scope

Market Dynamics

Drivers

Increasing interest in adventure tourism

The increasing interest in adventure tourism is expected to drive the adventure motorcycle market. The rising interest in adventure tourism and off-roading has led to a need for motorcycles that can handle long-range and off-roading. There is a rise in adventurous travel and tours in the less explored regions. A motorcycle tour is also a form of adventure tourism wherein tourists take motorcycles to travel around the beautiful countryside, cities, or standard tourist attractions. Such motorcycle tours can be arranged at different places such as country roads, hills, along the seashores, or within the city. As the industry continues to innovate, adventure bikes are expected to remain at the forefront, meeting the demands of an ever-growing and diverse community of riders.

• In April 2024, the new Tuareg 660 adventure motorcycle has been in launched in the Indian market by Aprilia India. This is its first middle weight adventure tourer and this makes it Aprilia’s entry into one of the most contested segments in the world.

Increasing disposable income in emerging economies

The higher disposable incomes in urban areas in developed countries and emerging economies, the more people can afford the cycle. This has resulted in the growth of the adventure motorcycle market due to factors such as an increase in customer’s disposable income and an increase in the trend of outdoor activities. With this increase in the standard of living, consumers are inclined to undertake adventure activities, thus fueling the growth of the market. Furthermore, there is an increasing trend of outdoor and sporting activities and events.

Restraints

Increasing road accidents

Riding position is also significant in the high accident rates of the sports bikes and the super sports bikes. The maximum number of multiple motorcycle crashes is common with super-sport bikes. Designed for speed and performance, their riders are often more likely to engage in risky behaviors like speeding and aggressive driving. The most common types of motorcycles involved in accidents are sports bikes and super sports bikes. Such bikes mainly feature an aggressive posture that places the majority of the body weight on the wrists as well as shoulders.

• The Government of India’s Ministry of Road Transport and Highways recently published the road accident statistics for 2022. In 2021, 69,385 two-wheeler users died, whereas, in 2022, 74,897 two-wheeler users died. 29,124 people in 2021 and 32,825 in 2022 were killed walking in an accident. That is a 12.7% increase year-on-year.

Opportunity

Customizations

Making a motorcycle an interesting product for consumers is the high degree of diversification in the domain of customization. The advancement continues with opportunities in the adventure motorcycle market for customization and personalization for consumers. Bike owners are more demanding these days and are more interested in getting their own styles and designs, accessories that fit their personalities and requirements, and the best performance upgrade packages that suit their needs. To this, manufacturers are coming up with different color options, localized apparel, and improved performance modifications.

• In August 2024, Royal Enfield launched its new 'Factory Custom' program on the sidelines of the new Classic 350's debut.

Type Insights

The 500CC - 1000CC segment accounted for the biggest share of the adventure motorcycle market in 2023, as most riders prefer these segments because they offer the best on-road and off-road travel. The increased adoption due to its popularity is that it is usable for daily traveling as well as has a variety of adventure features, making it capable of handling all ground; these properties are driving the demand for the 500CC- 1000CC segment.

The above 1000CC segment is predicted to grow at a significant rate in the adventure motorcycle market over the forecast period. The rising economic development globally and the rising demand due to its maximum performance, speed, and advanced technology. This segment is gaining further attention, especially due to sophisticated technology and more efficient handling systems. They are intended for professional racing and long-distance touring.

• In June 2024, BMW Motorrad launched the R 1300 GS, its latest flagship adventure motorcycle in India; powering the R 1300 GS is a brand new 1,300cc, liquid-cooled boxer engine.

Application Insights

The off-road market segment dominated the global adventure motorcycle market in 2023. The term off-road refers to driving surfaces that are not conventionally paved. These may be of natural origin, including sand, gravel, a river, mud, or snow. Off-road machines are lightweight and more versatile than road-use motorcycles. Other characteristics include a very low height ratio and extremely long wheel travel, high stoke-endowed ground clearance, and higher gearing to provide more force in off-road conditions.

• In November 2022, Honda Motor Co., Ltd. revealed the XL750 Transalp. The new motorcycle is equipped with Showa 43mm SFF-CATM USD forks for off-road bump journeys.
• In November 2022, India Kawasaki Motors Pvt. Ltd. (IKM) declared the launch of the new MY23 KX250 in India. The innovative version has amplified engine performance for off-road competitions in mountains and deserts.

The street market segment is anticipated to grow at a solid CAGR in the adventure motorcycle market during the forecast period. A street motorcycle is also referred to as a road bike. A street bike is a motorcycle that can legally ride on a road or pavements together with other vehicles. Street bikes are intended for use on paved roadways. These models, which include adventure bikes or dual sport bikes, are mostly referred to as street bikes since they can be legally ridden on the road.

• In July 2023, Harley-Davidson revealed its X440 motorcycle, manufactured in India. This affordable bike is tailored for the Indian market and is the outcome of a collective effort between Harley-Davidson and Hero MotorCorp.

Adventure Motorcycle Market Companies

• 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
• Suzuki Motor Corporation

Recent Developments

• In July 2024, QJ Motor unveiled the SRT 550 X Adventure Motorcycle. This mid-size contender aims for the Honda NX500, boasting a powerful engine, rugged design elements, and Brembo brakes.
• In July 2024, Jawa Yezdi Motorcycles launched the updated Yezdi Adventure in the Indian market. The ADV has developed minor cosmetic advancements, new color options with graphics, and mechanical improvements over the earlier model.
• In October 2023, Suzuki Motor Corporation launched the V-STROM 800 sport adventure tourer. The V-STROM 800 was aimed at comfort and performance on paved roads along with long-distance travel.
• In September 2023, KTM launched a new version of the 890 Adventure R Rally. The bike has a new suspension, ABS-integrated riding modes, and turn-by-turn navigation software.

Segments Covered in the Report

By Type

• 500CC -1000CC
• Above 1000CC

By Application

• Off-road Market
• Street Market

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa