Off-Road Vehicles Market - Global Industry Analysis

Off-Road Vehicles Market - By Vehicle (ATV, Off-Road Motorcycles, SSV/UTV, and Snowmobiles), By Application (Utility, Military, Recreation, and Sports), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2028

Published Date: 04-Aug-2021 Category: Automotive Report Format : PDF Pages: 120 Report Code: ZMR-6554 Status : Published

The global Off-Road Vehicles market accrued earnings worth approximately 16.1 (USD Billion) in 2020 and is predicted to gain revenue of about 28.3 (USD Billion) by 2028, is set to record a CAGR of nearly 7.2% over the period from 2021 to 2028.

Description

The global Off-Road Vehicles market accrued earnings worth approximately 16.1 (USD Billion) in 2020 and is predicted to gain revenue of about 28.3 (USD Billion) by 2028, is set to record a CAGR of nearly 7.2% over the period from 2021 to 2028. The report offers assessment and analysis of the Off-Road Vehicles market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).

Report Scope :

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Off-Road Vehicles Market: Overview

Off-road vehicles have the ability of driving off & on stony as well as tiled surfaces. These vehicles possess huge tires with deep, flexible, and open tread suspensions. Generally, off-road automotive is utilized for travelling in regions that do not have roads made from asphalt. Moreover, firms manufacturing off-road vehicles are focusing on launching of products with added features for attracting new consumers along with gaining competitive edge in the business. Rise in use of off-road vehicles will prop up expansion of off-highway automotive sector in upcoming years. Increase in driving & sports activities in terrain regions has enlarged popularity of all-terrain vehicles, thereby prompting production & demand for off-road vehicles.

 Off-Road Vehicles Market: Growth Drivers

Surge in industrialization & rise in mining activities across globe will embellish expansion of off-road vehicles industry over assessment period. A prominent increase in construction projects along with use of ATV & SSVs in construction sector for improving output will drive market trends. In addition to this, large number of benefits offered by off-road automotive due to its toughness will provide new growth avenues for off-road vehicles industry during forecast period. Apparently, an exploding population rate resulting in massive need for raising crop production will translate into humungous expansion of off-road vehicles market in upcoming years. Apart from this, off-road vehicles possess beneficial features like enhanced mobility and anti-locking braking systems. This, in turn, will boost market demand in next few years.

Moreover, low maintenance charges, less fuel emission, and low insurance costs will augment size of off-road vehicles market during 2021-2028. Furthermore, escalating trend of using electric off-road automotive due to increase in fuel emissions from vehicles will open new paths of growth for off-road vehicle industry over upcoming years. However, increase in number of road collisions can put brakes on use of off-road automotive, thereby resulting in decrement of off-road vehicles market revenue in near future.

Regional Landscape

North American Off-Road Vehicles Market Revenue To Witness Prominent Surge By 2028

The expansion of off-road vehicles market in North America during forecast timeframe can be attributed to massive sale of these vehicles in countries such as the U.S. In addition to this, rise in purchasing power of consumers has resulted in high acceptance & use of UTVs and ATVs, thereby driving regional market trends. Rise in participation of people in motorsport events & other leisure activities during weekends and holidays will carve a profitable roadmap for off-road vehicles market in region. With increasing inclination towards adventure sports among young & millennial population in Canada and the U.S. & surging popularity of recreational activities in North America will exponentiate regional market value. Growing tourist activities and presence of national and state parks will result in huge market penetration in sub-continent. Rise in number of off-road trails in outskirts of countries like the U.S. and Canada will contribute significantly towards size of off-road vehicle market in North America.

Competitive Landscape

Key participants profiled in report and impacting business space include Yamaha Motor Co. Ltd., Kawasaki Motors Corp., Suzuki Motors Corporation, Polaris Industries Inc., Massimo Motors, Honda Motor Co., Caterpillar, Tomcar Australia, Deere & Company, Wildcat, Bombardier Recreational Products (BRP), and KTM AG.  

The global Off-Road Vehicles Market is segmented as follows:

By Vehicle

  • ATV
  • OFF-ROAD MOTORCYCLES
  • SSV/UTV
  • SNOWMOBILES

By Application

  • Utility
  • Military
  • Recreation
  • Sports

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodology
      • 1.3.1. Market Research Type
      • 1.3.2. Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1. Off-Road Vehicles Market, 2018–2028(USD Billion)
    • 2.2. Off-Road Vehicles Market: Snapshot
  • Chapter 3. Global Off-Road Vehicles Market– Application Analysis
    • 3.1. Off-Road Vehicles Market: Market Dynamics
    • 3.2. Market Drivers
      • 3.2.1. Rise in industrialization & increase in number of mining activities globally will steer growth of off-road vehicles market during assessment period.
      • 3.2.2. A prominent rise in construction activities coupled with large-scale utilization of ATV & SSVs in construction industry for improving productivity will drive business trends.
    • 3.3. Porter’s Five Forces Analysis
    • 3.4. Market Attractiveness Analysis
      • 3.4.1. Market attractiveness analysis By Vehicle
      • 3.4.2. Market attractiveness analysis By Application
  • Chapter 4. Global Off-Road Vehicles Market– Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global Off-Road Vehicles Market: company market share, 2019
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New Product launches
      • 4.2.3. Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4. Research and development and Regional expansion
    • 4.3. Price trend analysis
  • Chapter 5. Global Off-Road Vehicles Market– Vehicle Analysis
    • 5.1. Global Off-Road Vehicles Market overview: By Vehicle
      • 5.1.1. Global Off-Road Vehicles Market share, By Vehicle, 2020 and 2028
    • 5.2. ATV
      • 5.2.1. Global Off-Road Vehicles Market by ATV, 2018–2028(USD Billion)
    • 5.3. OFF-ROAD MOTORCYCLES
      • 5.3.1. Global Off-Road Vehicles Market by OFF-ROAD MOTORCYCLES, 2018–2028(USD Billion)
    • 5.4. SNOWMOBILES
      • 5.4.1. Global Off-Road Vehicles Market by SNOWMOBILES, 2018–2028(USD Billion)
    • 5.5. SSV/UTV
      • 5.5.1. Global Off-Road Vehicles Market by SSV/UTV, 2018–2028(USD Billion)
  • Chapter 6. Global Off-Road Vehicles Market– Application Analysis
    • 6.1. Global Off-Road Vehicles Market overview: By Application
      • 6.1.1. Global Off-Road Vehicles Market share, By Application, 2020 and 2028
    • 6.2. Utility
      • 6.2.1. Global Off-Road Vehicles Market by Utility , 2018–2028(USD Billion)
    • 6.3. Military
      • 6.3.1. Global Off-Road Vehicles Market by Military, 2018–2028(USD Billion)
    • 6.4. Recreation
      • 6.4.1. Global Off-Road Vehicles Market by Recreation, 2018–2028(USD Billion)
    • 6.5. Sports
      • 6.5.1. Global Off-Road Vehicles Market by Sports, 2018–2028(USD Billion)
  • Chapter 7. Company Profiles
    • 7.1. Yamaha Motor Co. Ltd.
      • 7.1.1. Overview
      • 7.1.2. Financials
      • 7.1.3. Product Portfolio
      • 7.1.4. Business Strategy
      • 7.1.5. Recent Developments
    • 7.2. Kawasaki Motors Corp.
      • 7.2.1. Overview
      • 7.2.2. Financials
      • 7.2.3. Product Portfolio
      • 7.2.4. Business Strategy
      • 7.2.5. Recent Developments
    • 7.3. Suzuki Motors Corporation
      • 7.3.1. Overview
      • 7.3.2. Financials
      • 7.3.3. Product Portfolio
      • 7.3.4. Business Strategy
      • 7.3.5. Recent Development
    • 7.4. Pularis Industries Inc.
      • 7.4.1. Overview
      • 7.4.2. Financials
      • 7.4.3. Product Portfolio
      • 7.4.4. Business Strategy
      • 7.4.5. Recent Development
    • 7.5. Massimo Motors
      • 7.5.1. Overview
      • 7.5.2. Financials
      • 7.5.3. Product Portfolio
      • 7.5.4. Business Strategy
      • 7.5.5. Recent Development
    • 7.6. Honda Motor Co.
      • 7.6.1. Overview
      • 7.6.2. Financials
      • 7.6.3. Product Portfolio
      • 7.6.4. Business Strategy
      • 7.6.5. Recent Development
    • 7.7. Caterpillar
      • 7.7.1. Overview
      • 7.7.2. Financials
      • 7.7.3. Product Portfolio
      • 7.7.4. Business Strategy
      • 7.7.5. Recent Development
    • 7.8. Tomcar Australia
      • 7.8.1. Overview
      • 7.8.2. Financials
      • 7.8.3. Product Portfolio
      • 7.8.4. Business Strategy
      • 7.8.5. Recent Development
    • 7.9. Deere & Company
      • 7.9.1. Overview
      • 7.9.2. Financials
      • 7.9.3. Product Portfolio
      • 7.9.4. Business Strategy
      • 7.9.5. Recent Development
    • 7.10. KTM AG
      • 7.10.1. Overview
      • 7.10.2. Financials
      • 7.10.3. Product Portfolio
      • 7.10.4. Business Strategy
      • 7.10.5. Recent Development
    • 7.11. Bombardier Recreational Products (BRP)
      • 7.11.1. Overview
      • 7.11.2. Financials
      • 7.11.3. Product Portfolio
      • 7.11.4. Business Strategy
      • 7.11.5. Recent Development
    • 7.12. Wildcat
      • 7.12.1. Overview
      • 7.12.2. Financials
      • 7.12.3. Product Portfolio
      • 7.12.4. Business Strategy
      • 7.12.5. Recent Development

List of Figures

1. Market research Type
2. Market research methodology
3. Global Off-Road Vehicles Market, 2018–2028(USD Billion)
4. Porter’s Five Forces Analysis
5. Global Off-Road Vehicles Marketattractiveness, By Vehicle
6. Global Off-Road Vehicles Marketattractiveness, By Application
7. Global Off-Road Vehicles Marketshare by Vehicle ,2020 and 2028 (USD Billion)
8. Global Off-Road Vehicles Marketby ATV, 2018–2028(USD Billion)
9. Global Off-Road Vehicles Marketby OFF-ROAD MOTORCYCLES, 2018–2028(USD Billion)
10. Global Off-Road Vehicles Marketby SSV/UTV, 2018–2028(USD Billion)
11. Global Off-Road Vehicles Marketby SNOWMOBILES, 2018–2028(USD Billion)
12. Global Off-Road Vehicles Marketshare by Application ,2020 and 2028 (USD Billion)
13. Global Off-Road Vehicles Marketby Utility , 2018–2028(USD Billion)
14. Global Off-Road Vehicles Marketby Military, 2018–2028(USD Billion)
15. Global Off-Road Vehicles Marketby Recreation, 2018–2028(USD Billion)
16. Global Off-Road Vehicles Marketby Sports, 2018–2028(USD Billion)
17. Global Off-Road Vehicles Marketshare, by Region, 2020 and 2028
18. North America Off-Road Vehicles Market, 2018–2028(USD Billion)
19. Europe Off-Road Vehicles Market, 2018–2028(USD Billion)
20. Asia Pacific Off-Road Vehicles Market, 2018–2028(USD Billion)
21. Latin America Off-Road Vehicles Market, 2018–2028(USD Billion)
22. The Middle East and Africa Off-Road Vehicles Market, 2018–2028(USD Billion)


List of Tables

1. Global Off-Road Vehicles Market: snapshot
2. Drivers of the Off-Road Vehicles Market: impact analysis
3. North America Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
4. North America Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
5. The U.S. Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
6. The U.S. Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
7. Rest of North America Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
8. Rest of North America Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
9. Europe Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
10. Europe Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
11. UK Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
12. UK Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
13. France Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
14. France Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
15. Germany Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
16. Germany Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
17. Rest of Europe Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
18. Rest of Europe Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
19. Asia Pacific Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
20. Asia Pacific Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
21. China Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
22. China Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
23. Japan Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
24. Japan Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
25. India Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
26. India Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
27. Rest of Asia Pacific Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
28. Rest of Asia Pacific Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
29. Latin America Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
30. Latin America Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
31. Brazil Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
32. Brazil Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
33. Rest of Latin America Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
34. Rest of Latin  America Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
35. The Middle East and Africa Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
36. The Middle East and Africa Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
37. Saudi Arabia Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
38. Saudi Arabia Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
39. South Africa Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
40. South Africa Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)
41. Rest of the Middle East & Africa Off-Road Vehicles Market revenue, By Vehicle  ,2018–2028(USD Billion)
42. Rest of the Middle East & Africa Off-Road Vehicles Market revenue, By Application  ,2018–2028(USD Billion)


 

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FrequentlyAsked Questions

Surge in industrialization & rise in mining activities across globe will embellish expansion of off-road vehicles industry over assessment period. A prominent increase in construction projects along with use of ATV & SSVs in construction sector for improving output will drive market trends. In addition to this, large number of benefits offered by off-road automotive due to its toughness will provide new growth avenues for off-road vehicles industry during forecast period. Apparently, an exploding population rate resulting in massive need for raising crop production will translate into humungous expansion of off-road vehicles market in upcoming years. Apart from this, off-road vehicles possess beneficial features like enhanced mobility and anti-locking braking systems. This, in turn, will boost market demand in next few years.

Moreover, low maintenance charges, less fuel emission, and low insurance costs will augment size of off-road vehicles market during 2021-2028. Furthermore, escalating trend of using electric off-road automotive due to increase in fuel emissions from vehicles will open new paths of growth for off-road vehicle industry over upcoming years.  

According to Zion market research report, the global Off-Road Vehicles market accrued earnings worth approximately 16.1 (USD Billion) in 2020 and is predicted to gain revenue of about 28.3 (USD Billion) by 2028, is set to record a CAGR of nearly 7.2% over the period from 2021 to 2028.

North America will contribute lucratively towards the global market size over the estimated timeline. The regional market surge can be attributed to massive sale of these vehicles in countries such as the U.S. In addition to this, rise in purchasing capacity of consumers has resulted in high acceptance & use of UTVs and ATVs, thereby driving regional market trends. Rise in participation of people in motorsport events & other leisure activities during weekends and holidays will carve a profitable roadmap for off-road vehicles market in region. With increasing inclination towards adventure sports among young & millennial population in Canada and the U.S. & surging popularity of recreational activities in North America will exponentiate regional market value. Growing tourist activities and presence of national and state parks will result in huge market penetration in sub-continent. Rise in number of off-road trails in outskirts of countries like the U.S. and Canada will contribute significantly towards size of off-road vehicle market in North America.      

The key market participants include Yamaha Motor Co. Ltd., Kawasaki Motors Corp., Suzuki Motors Corporation, Polaris Industries Inc., Massimo Motors, Honda Motor Co., Caterpillar, Tomcar Australia, Deere & Company, Wildcat, Bombardier Recreational Products (BRP), and KTM AG.

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