Motorcycle Racing Market Size, Share, Growth, and Industry Analysis, By Type (Media and Broadcast-ing Rights Revenue, Ticketing Revenue, Advertising/Sponsorship Revenue, and Others), By Applica-tion (Motorcycle Road Racing, and Motorcycle off-road Racing), and Regional Forecast to 2032

Motorcycle Racing MARKET OVERVIEW

The global Motorcycle Racing Market size was USD 632 million in 2023 and is projected to touch USD 1004.26 million by 2032, exhibiting a CAGR of 4.7 % during the forecast period. 

The global motorcycle racing market is set to grow at a rapid pace owing to the increasing participation in motor sports and an expanding audience base across the world. Events that have motorcycle racing within them such as MotoGP, Super-bike and also motocross racing have attracted a lot of attention as thrills are high, competition is quite fast and there are big manufactures and riders. In addition, the growth of the market can also be attributed to changes in technology, which have made racing motorbikes more safe and efficient, attracting professional riders and fans as well.

The increasing interest in the sport can be credited to various factors regarding market growth such as the rising amount of sponsorships and media engagement, and investments made by the motorcycle manufacturers in racing bikes. Moreover, the growing claimer of motorsport in emerging economies and the rising incidence of racing events also facilitate the expansion of the market. Furthermore, new designs and new technologies such as lightweight materials, enhanced aerodynamics and better engines clamoring for use in motorcycles is improving the quality of the motorcycles and making the competition hotter.

Nonetheless, the growth of the market may be inhibited due to factors like high operational expenditures, rigid regulatory framework and safety issues. Not withstanding these challenges, the motorcycle racing sector is projected to grow because motorsports cold appeal to many and even hostile disregards the growth of the sport in the world and its commercialization,”globalization of this type of the sport in the world.

GLOBAL CRISES IMPACTING Motorcycle Racing MARKETCOVID-19 IMPACT

Motorcycle Racing Market Had a Negative Effect Due to many major events were postponed or canceled

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic had an overall adverse effect in the motorcycle racing market, as many major competitions were rescheduled or even canceled, thus resulting in substantial losses for the teams, sponsors and event promoters. The rise of the fan attendance restrictions and health concerns contributed to a drop in the engagement of fans, which translated into lower ticket sales and revenues generated from the sale of merchandise. Also, the networks that are responsible for the distribution of supplies were also adversely affected making it difficult to manufacture and ship racing bikes and parts. However, some of the organizations were able to cope with the challenges by increasing virtual content and professional racing, which in turn kept the audience engaged during the periods when everyone was under lockdown.

LATEST TREND

"Increased focus on sustainability, with electric motorcycle racing gaining traction to Drive Market Growth"

The Motorcycle Racing industry is undergoing transformations like a growing emphasis on environment-friendly practices in the sports with electric motorcycle racing becoming popular, enhanced safety technology, and the use of advanced analytics for performance improvement. One of these advancements is the development of electric motorcycle racing league such as MotoE which, unlike the others, has come into focus as the producers and the race management have wide range of environmental friendly options as a consideration. The changes caused by the electric racing are equally changing the environment because it is in line with the global agenda of cutting carbon emissions in motorsports.

Motorcycle Racing MARKET SEGMENTATION

BY TYPE

Based on Type, the global market can be categorized into Media and Broadcasting Rights Revenue, Ticketing Revenue, Advertising/Sponsorship Revenue, and Others

•  Media and Broadcasting Rights Revenue:The motorcycle racing market has a significant revenue segment from media, broadcasting, and advertising, whereby this is a great income earner for race organizers and teams. Due to more and more digital streaming services engaging in offering live telecasts of events, there has also been a high need for coverage and highlights resulting in very profitable broadcasting contracts. This form of revenue helps sustain the finances of the racing activities and expands the reach of such sports to the passionate fans across the globe.
• Ticketing Revenue:The motorcycle racing market thrives on various revenue-generating activities, and ticketing revenue remains a major share as it provides funds directly from the fans attending the events. With an increase in the popularity of motorcycle racing, there has been a rise in the uptake of tickets for races including but not limited to general admission and VIP sales which has had a great effect on overall revenue. Additionally, providing unique experiences and services can promote ticket sales and help keep the fans active during the events.
•  Advertising/Sponsorship Revenue: The market of motorcycle racing gets much of its financial weight from advertising and sponsorship revenues, all for the purpose of gaining presence towards an appreciative audience. The companies use this medium in two levels, that is they enter into sponsorship agreements hat are designed to advertise their goods and services during and after the events so they benefit and publicize the brands. This section focuses not only on assisting teams or organizers in fundraising efforts but also improving the enjoyment of the races with various activities and advertising.

 BY APPLICATION

Based on application, the global market can be categorized into Motorcycle Road Racing, and Motorcycle off-road Racing

•  Motorcycle Road Racing: Motorcycle road racing is an adrenaline-fueled motorsport that involves riding on paved tracks and streets, capturing the attention of riders and fans from all corners of the world. This part has well-known events such as MotoGP and World Superbike Championships, where better motorcycles and better riders are on display. Road racing is gaining popularity among many because of its exciting contest and large prospects, hence, it is one of the key areas in the growth of the motorcycle racing market.
• Motorcycle Off-Road Racing: Motorcycle off-road racing includes a myriad of competitions organized on unpaved surfaces such as dirt tracks, enduro tracks, and rally stages. Off-road racing attracts both riders and spectators who are fond of the difficulties associated with harsh areas and unpredictable weather patterns. The off-road racing segment has witnessed growth in part due to the increasing passion for adventure sports and the number of both professional and non- professional riders.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.                         

DRIVING FACTORS

"Rising Popularity of Motorsport Events to Boost the Market"

The expanding footfall for motorcycle racing tournaments such as MotoGP and Superbike World Championship, is one of the major factors propelling the motorcycle racing market growth. Due to heightened media attention and social media involvement, these events are reaching out to a wider audience, thereby motivating funding and investments into the sector.

 "Technological Advancements in Motorcycles to Expand the Market"

The developments in engineering motorcycles such as improved aerodynamics, safety systems and economy of fuel consumption, are improving the revenues generated by racing events. As these performance aspects improve, so does the demand from the audience who want to see faster and more sophisticated competitions leading to motorcycle racing market growth.

RESTRAINING FACTOR

"High Costs of Participation and Maintenance to Potentially Impede Market Growth"

One of the most limiting factors that affect the motorcycle racing market is the high cost of taking part in professional motorcycle racing. This is due to the fact that costs incurred in high-performance bikes, maintenance, equipment and even travel are quite high making smaller and independent racers struggle to compete. Such limits the growth of the market and raises the barrier for entry to new players.

OPPORTUNITY

"Expansion of E-Motorcycle Racing to create Opportunity for the product in the market"

Doubtless, the ever-increasing demand and adoption of electric motorcycles is exploitable for the motorcycle racing market. With the increase in electric vehicle technology, e-motorcycling is becoming more popular attracting more fans and participants due to the being environmental conscious. This kind of transition has the potential to draw in more investments and stimulate larger overall market growth especially in the regions that have a focus on balanced development.

CHALLENGE

"High Costs of Participation Could Be a Potential Challenge for Consumers"

The most significant hindrance facing the motorcycle racing industry is the huge financial burden to participate in the sport; this includes the cost of the racing bikes, their up-keep, and traveling to attend the events themselves. Such costs can prove to be a limiting factor of the number of persons willing to partake in the sport - especially so for smaller teams and sole racers. Therefore, this has the potential effect of causing limits to the development of the market and decreasing the range of opponents in the professional racing competitions.

Motorcycle Racing MARKET REGIONAL INSIGHTS

• NORTH AMERICA

The united states motorcycle racing market is well dominated by North America owing to the established racing events like MotoAmerica and AMA Supercross, which have made global headlines. North America has an enthusiastic audience, modern facilities, and large-scale media presence making it more exciting. Further, sponsor and manufacturer investments strengthen the region’s market appeal. The fact that most major motorcycle companies operate in this region also helps to explain why North America is the most prominent within the global motorcycle racing market.

• EUROPE

The motorcycle racing scene is particularly focused on Europe thanks to its great events such as the MotoGP Championship and the World Superbike Championship which attract international participations. The history of motorcycle racing culture in this region is long illustrated by the presence of avid followers and media networks. Prominent motorcycle companies such as Ducati, KTM, and BMW are based in Europe, encouraging research and development as well as advertisement. Furthermore, the racing facilities are also advanced with exceptional race tracks such as Mugello and Silverstone further placing Europe in the dominant position in the motorcycle racing market share.

•  ASIA

The motorcycle racing industry has a fan base that is agrowing and spreads across different events such as the MotoGP races held in Japan, Thailand and Malaysia among other countries, where Asia seems to be the most active continent. Moreover, the vast population in the region and the ever-increasing middle class income serves to promote the use of motorcycles and such sporting activities. Race sponsorship and organization is an area in which most of the Asian based automobile manufacturing companies such as Honda, Yamaha and Kawasaki are actively involved. Other than that, the growing investment in the peripherals that support the conduct of the sport umtterior Asia is also contributing to the motorcycle racing market share for motorcycle racing activities in the world.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through investing in advanced technologies and high-performance motorcycles"

Motorcycle racing market growth is being fueled by key players who invest in technological and performance improvements to enhance the competitive experience. They concentrate on broadening the scope of events and sponsorships that appeal to a wider audience and promote fan interaction. Furthermore, the involvement of media houses for live shows and online content, helps in increasing reach, while manufacturer, accessories and clothing companies’ collaborations establish a functioning network. These tactics help enhance loyalty and awareness of the companies’ brands, and assist in the development and commercialization of motorcycle racing industry as a whole.

LIST OF TOP Motorcycle Racing COMPANIES

• Moto GP - (Spain)
• MXGP - (Switzerland)
• SBK - (Spain)
• FIM EWC - (Switzerland)
• TrialGP and X-Trial - (Switzerland)
• EnduroGP - (Switzerland)
• Speedway GP - (Switzerland)
• ARRC - (Malaysia)

KEY INDUSTRY DEVELOPMENTS

March 2023: One industrial development in the Motorcycle Racing Marketplace is announced by Dorna Sports, the organizer of MotoGP. The partnership with Enel X was revealed with the aim of implementing sustainable energy solutions in all MotoGP events. The cooperation is centered on minimizing the races carbon emissions by provision of electric charging points for electric bikes and adopting green energy solutions in the paddocks. This development comes as a key indication of the shift towards sustainability in the Motorcycle Racing market which is in tandem with the international trends on eco-friendliness in motorsports.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

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