Pit Bike Market Size, Share and Trends 2024 to 2034

The global pit bike market size was USD 2.14 billion in 2023, estimated at USD 2.29 billion in 2024 and is anticipated to reach around USD 4.49 billion by 2034, expanding at a CAGR of 7% from 2024 to 2034.

  • Last Updated : August 2024
  • Report Code : 4206
  • Category : Automotive

Pit Bike Market Size and Companies

The global pit bike market size accounted for USD 2.29 billion in 2023 and is predicted to reach around USD 4.22 billion by 2033, growing at a CAGR of 7% from 2024 to 2034.

Pit Bike Market Size 2024 to 2034

Pit Bike Market Key Takeaway

  • Asia-Pacific dominated the market with the largest market share of 42% in 2023.
  • North America is expected to grow to the highest CAGR in the market by regional, during forecast period.
  • by application, the recreation segment has contributed more than 44% of the market share in 2023.
  • by application, the sports segment expected to grow to the highest CAGR in the market during forecast period.
  • By propulsion type, the gasoline segment dominated the market in 2023.
  • By propulsion type, the electric segment expected to grow to the highest CAGR in the market during the forecast period.

Pit Bike Market Size in the Asia Pacific 2024 to 2033

The Asia Pacific pit bike market size was estimated at USD 900 million in 2023 and is predicted to be worth USD 1,880 million by 2034, at a CAGR of 7.30% from 2024 to 2034.

Asia Pasific Pit Bike Market Size 2023 to 2034

Asia-Pacific segment dominated the pit bike market by region, in 2023. Asia Pacific pit bikes manufacturer benefits from exporting pit bikes to other regions including North America, Europe, etc. because many of the leading pit bike manufacturing industries are based in Asian countries including China, Japan, and Thailand, etc. Moreover, the rising emphasis on buying pit bikes for adventurous activities and skill development promotes the growth of the market in the region.

Furthermore, the demand for and supply of pit bikes or dirt bikes, that are getting popular for mountainous terrain along with the demand for the same from international travelers promotes the market’s expansion in the region. The scope for modification of bikes along with relaxed import policies in a few countries create a potential for the market to expand further in Asia Pacific. 

Pit Bike Market Share, By Region, 2023 (%)

On the other hand, North America is observed to have a significant rate of growth during forecast period. North America has a strong culture for outdoors recreation which includes activities like off road riding and pit bike offer an enjoyable moment for off road riding. Also, the rising interest in off- road riding which may boost the pit bike market. Moreover, multiple television shows broadcasted on American television have contributed to the popularity of pit bike activities in North America.

Market Overview

The pit bike market refers to a bike which is a small off-road, useful in pit or paddock areas of motorcycle racing events. Pit bikes are commonly used in motor-sport events like motocross, and pit bike racing which contributes to the demand of enthusiasts and professionals.  The pit bikes come with four-stroke engine. The pit bike is tiny in size, so they generally come in 50cc to 140cc range. The four-stroke engine helps in delivering more reliable power output. The pit bikes are not installed for anything other than routes and other soft and smooth tracks. Additionally feed bikes are relatively easy to maintain, and repair compared to other larger motorcycles. Also pit bikes are versatile and can be used in various purposes like racing, recreational riding and even transportation in certain settings.

The pit bike market is fragmented with multiple small-scale and large-scale players, such as Yamaha Motor Co., Ltd; Honda Motor Co., Ltd; Kawasaki; SSR Motorsports; Apollo; Thumpstar; Pitster Pro; NIU Technologies; Dust Moto; Piranha; Coolster; Tao Motor; BBR Motorsports; Stomp, etc. 

Pit Bike Market Growth Factors

  • The pit bikes are easy to maintain and repair by comparing other large bikes, this may boost the growth of the pit bike market. 
  • The rising demand for motor-sports events can boost the pit bike market. Pit bikes are commonly used in motor-sport events like motocross, and pit bike racing which contributes to the demand of enthusiasts and professionals.
  • The rising demand for motor-sports events is due to rising interest in off- road riding which may boost the pit bike market.

Pit Bike Market Scope

Report Coverage Details
Growth Rate from 2024 to 2034 CAGR of 7%
Global Market Size in 2023 USD 2.14 Billion
Global Market Size in 2024 USD 2.29 Billion
Global Market Size by 2034 USD 4.49 Billion
Largest Market Asia Pacific
Base Year 2023
Forecast Period 2024 to 2034
Segments Covered Application, Propulsion Type, and Region
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa


Market Dynamics

Driver

Rising popularity of motor-sports event 

The rising demand for motor-sports events can boost the growth of the pit bike market. Pit bikes are commonly used in motor-sport events like motocross, and pit bike racing which contributes to the demand of enthusiasts and professionals. The rising demand for motor-sports events is due to rising interest in off-road riding which may boost the expansion of the pit bike market.

Pit bikes are more accessible and affordable than larger motor-sports vehicles such as motorcycles and ATVs. Their lower cost of entry, reduced maintenance requirements, and ease of operation make pit bikes an attractive option for individuals looking to get involved in motorsports without breaking the bank. As motor-sports events become more mainstream and inclusive, the affordability and accessibility of pit bikes contribute to their growing popularity among enthusiasts.

Restraint

High production cost

High production costs typically translate to higher retail prices for pit bikes. As a result, potential customers, especially those on a budget, may be deterred from purchasing pit bikes due to their relatively high upfront costs compared to other recreational vehicles or leisure activities. Pit bike manufacturers facing high production costs may struggle to compete effectively with competitors offering similar products at lower prices. In a competitive market environment, price-sensitive consumers may opt for lower-priced alternatives, leading to a loss of market share for manufacturers with higher production costs.

Opportunity

Advancement in engine technology of pit bike

The advancement in engine technology of pit bike can be the opportunity to boost the pit bike market. Advanced engine technology can offer higher power of output and better torque, enhancing the overall performance of pit bikes. The pit bikes come with four-stroke engine. The pit bike is tiny in size, so they generally come in 50cc to 140cc range. The four-stroke engine helps in delivering more reliable power output. Engine advancements can lead to the development of cleaner, more environmentally friendly pit bike engines with reduced emissions of harmful pollutants. With increasing environmental awareness and regulations, pit bikes with eco-friendly engines may appeal to environmentally conscious consumers and gain a competitive edge in the market.  

Engine advancements open up opportunities for the integration of innovative features and technologies into pit bikes. This includes features such as electronic fuel injection (EFI), variable valve timing (VVT), traction control systems, engine mapping options, and ride-by-wire throttle systems. These advanced features enhance the riding experience, offer customization options, and differentiate pit bikes in the market.

Application Insights

The recreation segment dominated the pit bike market by application in 2023. Recreation is useful for leisure and recreational processes. The recreational process includes careful planning, preparation, safety, consideration, riding enjoyment, maintenance, and reflection, etc which contributes to a full enjoyable riding experience. Pit bikes are more accessible to a wider range of riders compared to larger off-road motorcycles or dirt bikes. Their smaller size, lower seat height, and lighter weight make them easier to handle, especially for beginners, youth riders, and recreational enthusiasts who may have limited experience or physical strength.

Pit Bike Market Share, By Application, 2023 (%)

The sports segment is expected to grow to the highest CAGR in the pit bike market by application, during forecast period. The sports segment of pit bike encompasses a wide range of competitive events and racing disciplines which cater to riders of all ages and skill levels. The rising demand for motor-sports events is due to rising interest in off- road riding which may boost the pit bike market.

Propulsion Type Insights

The gasoline segment dominated the pit bike market by propulsion type, in 2023. Gasoline is a petroleum derived liquid which is used in internal combustion engines. Generally, the range of gasoline in pit bike is from 87-octane to 92 octanes. The pit bikes are the bikes which is made of a small off-road, useful in pit or paddock areas of motorcycle racing events. Pit bikes are commonly used in motor-sport events like motocross, and pit bike racing which contributes to the demand of enthusiasts and professionals.  The pit bikes come with four-stroke engine. The pit bike is tiny in size so they generally come in 50cc to 140cc range. Gasoline pit bikes are generally more affordable than their larger counterparts, such as full-sized dirt bikes or motorcycles. This makes them accessible to a wider range of riders, including beginners, youth riders, and recreational enthusiasts who may be on a budget.

Gasoline pit bikes are versatile machines that can be used for various purposes, including recreational riding, backyard racing, pit bike racing events, and practicing stunts or tricks. Their compact size and nimble handling make them ideal for navigating tight trails, motocross tracks, and obstacle courses.

The electric segment expected to grow to the highest CAGR in the pit bike market by propulsion type, during forecast period. The electric pit bike produces zero emission during the operation. Also, electric pit bikes have lower operating cost compared to gasoline. The rising popularity of electric vehicles across the globe with supportive government policies and new product launches create a sustained potential for the segment to grow. Electric speed bikes have fewer components than gasoline pit bikes, so the electric pit bikes are lighter in weight which helps the user to run easily. 

  • For instance, at Bharat Mobility Expo 2024, Hero showcased its XPulse 210 ADV electric pit bike which is expected to be available in the Indian market from 2024. The company has stated that most of body panels, hardware parts nad underpinnings for this second-version of pit bike will be almost the same as XPulse 200 which is currently the brand’s most prominent version in the premium range.

Pit Bike Market Companies

  • Yamaha Motor Co., Ltd
  • Honda Motor Co., Ltd
  • Kawasaki
  • SSR Motorsports
  • Apollo
  • Thumpstar
  • Pitster Pro
  • NIU Technologies 
  • Dust Moto
  • Piranha
  • Coolster
  • Tao Motor
  • BBR Motorsports,
  • Stomp

Recent Developments

  • In March 2024, Dust Moto announced the launched of monthly subscription model to build their pit bike in public with the most transparent development process in powersports.
  • In February 2024, Yamaha Motor Co., Ltd. and Yamaha Motor Racing announced the launch of desire success at the Sepang International Circuit as the Monster Energy Yamaha MotoGP team opened their garage doors to a select group of media representatives. The colour scheme of the Monster Energy Yamaha MotoGP YZR-M1, the pit box, the riders' leathers. 
  • In  November 2023, NIU Technologies announced the launched of electric pit bike, the NIU XQi3. This contemporary electric vehicle combines the latest technology and sleek design to deliver a thrilling, stylish, and smart urban adventure ride, for those seeking on-road and off-road excitement. 
  • In July 2023, Kawasaki announced launched of the Kawasaki KX65, Kawasaki KX112, and the Kawasaki KLX 230R S pitbikes. The Kawasaki KX112 is designed for the mid-level off-road segment in India. The Kawasaki KX112 is powered by a 2-stroke 112cc engine with Exhaust Power Valves (KIPS), and is liquid-cooled.
  • In July 2022, Hero MotoCorp announced the launched of pit bike challenge for Indian motorcyclists. This challenge is for riders who want to pursue their passion for off-road riding. 

Segment Covered in Report

By Application

  • Utility
  • Sports
  • Recreation

By Propulsion Type

  • Gasoline
  • Electric

By Geography

  • North America  
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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Frequently Asked Questions

The global pit bike market size is expected to increase to USD 4.49 billion by 2033 from USD 2.14 billion in 2023.

The global pit bike market will register a growth rate of 7% between 2024 and 2034.

The major players operating in the pit bike market are Yamaha Motor Co., Ltd, Honda Motor Co., Ltd, Kawasaki, SSR Motorsports, Apollo, Thumpstar, Pitster Pro, NIU Technologies, Dust Moto, Piranha, Coolster, Tao Motor, BBR Motorsports, Stomp and Others.

The driving factors of the pit bike market are the rising popularity of motor-sports event and ease of operation and maintenance.

Asia Pasific region will lead the global pit bike market during the forecast period 2024 to 2034.

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