Pit Bike Market Regional Analysis:
APAC Market Insights
Asia Pacific industry is expected to dominate majority revenue share of 44% by 2035 on account of the rising disposable income. Consumers are largely investing in recreational activities, including pit biking. Spending on leisure and recreational activities has increased noticeably as the region's economies improve and disposable incomes rise. This includes a growing interest in off-road sports and motocross, which boosts demand for pit bikes.
In China, it has been witnessed that there is a rising curiosity for pit bikes, notably after the first MXGP and MX2 Motocross World Championship events were held in Shanghai in 2019. With the announcement of the tournament making a comeback in Shanghai, it is anticipated that the attention of bike enthusiasts will be redirected to the sport, and the demand for pit bikes will observe an upswing. Another facet of the market growth in China is its being one of the hotspots of motorcycle exports. As per the study by the Italian Trade Agency, in 2022, China’s motorcycle export value stood at an enormous USD 5.3 billion, which emphasized the global proclivity towards China-manufactured pit bikes. The rising popularity of lightweight bikes can also be witnessed in South Korea, indicated by multiple innovations in the realm of pit bikes and multiple market differentiators.
North America Market Insights
North America in pit bike market is estimated to hold substantial revenue share by 2035. The established competitive motorsport culture with frequent competitions, and off-road events, are the market drivers for the market in this region.
In the U.S., there are approved recreational riding areas where people can test bikes. The strong presence of various outdoor activities is also propelling the pit bike industry. According to a report published by the United States Bureau of Economic Analysis, adventure activities as a recreational activity accounted for 2.2% of the country's GDP in 2022. The widespread exposure to motorsport through many championships and races has fueled the interest of individuals in pit biking. Furthermore, the United States has a plethora of pit bike manufacturers to suit the booming client demand, each with a unique pricing point, greater shock absorbers, and torque. Canada is also encountering a climb in the interest and demand for pit bike post the success of the 2023 Canadian National Motocross.
