Saudi Arabia Micro Lending Market Assessment, By Provider [Banks, Microfinance Institutes, Non-banking Financial Institutions, Others], By End-user [Solo Entrepreneurs, Micro Enterprises, Small Enterprises], By Region, Opportunities and Forecast, 2017-203

Saudi Arabia Micro Lending Market Assessment, By Provider [Banks, Microfinance Institutes, Non-banking Financial Institutions, Others], By End-user [Solo Entrepreneurs, Micro Enterprises, Small Enterprises], By Region, Opportunities and Forecast, 2017-2031F

United States dirt bike market is projected to witness a CAGR of 4.90% during the forecast period 2024-2031, growing from USD 1.29 billion in 2023 to USD 1.90 billion in 2031. The market growth can be attributed to several factors, such as the rising popularity of outdoor activities, especially as more people seek outdoor adventure and recreation. Dirt biking is emerging as an exciting option in the United States for exploring diverse and rugged terrains. This trend is particularly appealing to families and individuals looking for ways to engage in active leisure pursuits. Another important factor is the increasing engagement of youth in motorsports. Many companies focus on young riders through youth-oriented events, training programs, and competitions that stimulate their interest in sports. It creates a vibrant community around dirt biking, making it a popular choice among young adventurers.

The United States dirt bike racing culture is sensational, energetic, and dynamic, blending competition pumped by adrenaline with an overwhelming sense of community, which is why the market is taking positive shape. The thrill of off-road riding is wide-ranging among participants, including casual enthusiasts and serious competitors. There are some races on the agenda, such as motocross, supercross races, and enduro races, which have always been a part of the landscape, attracting thousands of enthusiastic fans and sparking a competitive spirit among riders. For instance, in May 2024, KTM Sportmotorcycle GmbH announced the 19th Annual KTM ADVENTURE RIDER RALLY. It was held in October 2024 in Deadwood, South Dakota, for the 2024 edition, marking another exceptional chance for KTM orange bleeders to connect and discover the true meaning of adventure. This rally has been specifically developed for KTM Adventure and Enduro riders and 350 riders through the Black Hills of South Dakota and landmarks such as Mount Rushmore, Devil’s Tower, and Spearfish Canyon. Also, the rise in disposable income has a significant impact on the United States dirt bike market. As disposable income grows, individuals and families have more financial flexibility to spend on recreational activities and dirt bikes.

Technological Advancements to Fuel Market Growth

Advanced technology integrated into modern dirt bikes is leading to the growth of the United States dirt bike market. Suppliers are adding sophisticated suspension systems, traction control, and GPS to improve performance and the safety of the motorcycle rider. Dirt bike demand is increasing due to its lightweight and flexible nature, high ground clearance, long travel suspension, additional torque, and knobby tires. Customers in the United States have adopted dirt bikes due to their versatility and ability to handle rough and rugged terrains. More customers are being attracted by motorcycles due to their stimulating off-road experience and capability of exploring and enjoying outdoor adventures. Electric dirt bikes are an example of smart integration of technology. In addition, customers are becoming more concerned and focused on sustainability coupled with the conscious nature of the environment, hence, looking for alternatives that are away from traditional gasoline. Electric dirt bikes emit less noise and cause less pollution, thus making them a more attractive option for the environmentally conscious buyer. These technological improvements increase the rider's experience and attract consumers who are technologically savvy about new versions. Furthermore, companies in the market are introducing new vehicles to address the rising demand and expanding their product portfolio and footprint.

For instance, in October 2024, Husqvarna Mobility unveiled its 2025 Norden 901 Expedition with several technical refinements in its latest version of the mid-class travel and off-road motorcycle, which features an updated and distinctive development. It has updated Slip Adjuster, offering ten settings that can be selected based on the rider’s ability and terrain ahead. The motorcycle has the latest mirrors, a hazard light warning system, and a USB-C charging port positioned aptly.

Prevalence of Dirt Bikes Among Young Population to Drive Market Growth

The motocross boom in the United States has played a crucial role in expanding the dirt bike market among younger riders and motorsport enthusiasts. As racing events gain popularity, companies captivate younger audiences and foster a unique community centered around motorsports. Manufacturers are keenly aware of this shift, actively targeting younger demographics by developing beginner-friendly models and implementing safety training programs. These events are thrilling, involving skill and competition, inspiring young riders to participate and aspire to compete. Manufacturers have seized this opportunity by sponsoring events and promoting youth-focused programs, making it easier for newcomers to engage with dirt bike motorsport, driving the growth of the United States dirt bike market in the forecast period. This dynamic ecosystem of racing and community involves elevated interest in dirt biking and encourages the passion for motorsports, contributing significantly to market growth. In addition, in the United States, different championships have been held recently, which drive the demand for dirt bikes and motivate young individuals to participate.

For instance, in July 2024, the Monster Energy AMA Amateur Motocross Championship, presented by AMSOIL INC. at Loretta Lynn Ranch was held from 29th July 2024 to 3rd August 2024. This is known as the Little Olympics of Motocross, attracting thousands of young riders nationwide. Participants compete in various classes based on age and skill level, providing a platform for young talent to showcase their abilities.

Enduro Dirt Bike to Gain Popularity in the United States Market

Enduro dirt bikes are poised to gain significant traction in the United States as the country’s interest in off-road riding and adventure sports has surged. Given that most individuals want their outdoor recreational area, enduro riding is an excellent alternative, which brings fun to the rider when traveling over wooded trails or rocky pathways. They are perfect speed/endurance bikes, offering versatility in riding conditions and transitioning smoothly between competitive events and casual outings, propelling the United States enduro dirt bike market demand in the forecast period. With the rise of enduro competitions and races, a community has bloomed, drawing seasoned enthusiasts and newcomers, heightening the shared experience through passion and friendship and leading to market growth.

Additionally, the focus on safety and training is increasing rider confidence, with organizations promoting comprehensive programs that educate on safe practices and bike maintenance. Technological advancements, including fuel injection systems and lightweight materials, further enhance performance and comfort, introducing electric enduro bikes that appeal to environmentally conscious consumers. Major manufacturers are actively investing in this segment, developing new models and sponsoring events, which boosts visibility and strengthens the market. With these factors converging, the future of enduro dirt biking in the United States looks positive, promising opportunities for adventure seekers of all levels.

In September 2024, BETA MOTORCYCLES USA announced the release of the legendary 300 Xtrainer, which will be joined by the 250 model. The 250 Xtrainer provides more rideable control from a model, making it an enduro dirt bike for long-distance cross-country, including trails and competition. The power from the liquid-cooled engine is almost electric-like, providing a seamless power delivery with the right amount of power and torque. It has a new look that separates it from other variants, the RR X-Pro and RR Race models.

Internal Combustion Engine Dirt Bike to Dominate the United States Market Share

Internal combustion engine dirt bikes continue to hold the largest market share in the United States, reflecting a strong preference for the traditional gasoline-powered motorcycle among enthusiasts. Ice dirt bikes are popular due to their power and design, which can be easily handled on different terrains and riding styles. The excitement of off-road four-wheeling at high speeds and the adrenaline thrill of riding over rough terrains is one of the major attractions for both casual users and extreme contestants. Besides, technological improvements in engines have resulted in efficiency and lower emissions-gas-guzzling-which promise to be aligned with growing environmental consciousness without sacrificing high-performance expectations from riders. Besides performance, the wide availability of aftermarket parts and accessories makes ownership for ICE dirt bike users more attractive. It allows a rider to customize and upgrade his dirt bike according to his requirements, driving the United States ICE dirt bike market growth in the forecast period. In addition, a network of producers and dealers established in the United States and the introduction of the new and latest dirt bike featured ICE, supports this segment's superiority since consumers can obtain maintenance services and parts easily.

For instance, in September 2024, Talaria announced its latest electric trail bike, the Talaria Sting MX5. Unveiled by Luna Cycle in the US, the Sting MX5 promises to bring high performance at an affordable price, offering a serious upgrade for enthusiasts eyeing electric dirt bikes.

Future Market Scenario (2024 – 2031F)

Manufacturers are focusing on creating beginner-friendly dirt bike models that appeal to younger riders. This includes lightweight dirt bikes and features that enhance safety and ease of use.

The rise of electric dirt bikes and eco-friendly practices in manufacturing could attract environmentally conscious consumers, broadening the market appeal.

Sponsorship of local events and youth programs will strengthen community ties and foster a lifelong interest in motorsports.

Innovations in bike technology, such as improved suspension systems and smart features, may enhance the riding experience, making dirt biking more appealing to new riders.

Key Players Landscape and Outlook

The landscape of key players in the United States dirt bike market is characterized by a mix of established manufacturers, emerging brands, and a growing number of specialized companies catering to different segments of the market. These companies are actively investing in research and development to enhance their technological innovations and community engagement. Established players are leveraging their extensive distribution networks and existing customer bases to diversify their riding experience.

The outlook for key players is positive, with continuous innovation expected to drive competition and collaboration in the market. As the demand for thrilling and sustainable off-roading experiences increases, these companies are well-positioned to capitalize on the opportunities in the evolving dirt bike landscape. The outlook remains positive as the industry adapts to changing consumer preferences and embraces new technologies.

For instance, in June 2023, VP Racing Fuels, Inc. announced a partnership with Cobra MOTO. for factory-fill fluids, gear oil, brake fluid, and coolant of choice for Cobra MOTO bikes. After this, Cobra MOTO VP racing bikes will be shipped after filling VP’s 75W gear oil, 622 Racing Brake Fluid, AND Stay frosty Hi-Performance Coolant.