Press release
Off-Road Vehicles Market Key Information By Top Key Player Polaris, Kawasaki, Honda, Yamaha, John Deere, Caterpillar, Bombardier Arctic Cat, Suzuki, Taiwan Golden Bee
Off-Road Vehicles Market, Global Off-Road Vehicles Market Size, Off-Road Vehicles Industry, Off-Road Vehicles Market Trends,
Off-Road Vehicles Market Research Report for the period of 2018-2024 that shows the growth of the market is rising at a Steady CAGR to 2024.
MarketStudyReport.com Adds New Off-Road Vehicles Market 2018 – 2024 research report providing information and data By Vehicle, By Application, Industry Analysis, Regional Outlook, Growth Potential, Trends, Competitive Market Share & Forecast spreading across 300 Pages with table and figures in it.
Increasing demand for off-road vehicles among consumers owing to surging adventure & sporting events significantly boosting industry penetration. Rising spending on recreation and leisure practices are strongly supporting product demand. In 2017, Georgia Department of Natural Resources announced 14 grants with USD 2.3 million financial support for recreation facilities such as golf, hiking, fishing, and camping in the state. These key factors are anticipated to boost off-road vehicles market during the forecast period.
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Improved government spending on recreational infrastructure for driving off-road automobiles along with national parks & state parks across the country exceeding market revenue share. High performance in rough terrains owing to strong vehicles structure benefits encouraging adoption in several countries instigating industry share.
Manufacturing companies such as Polaris and Kawasaki are focusing on installing improved technology such as GPS tracking and mobile tracking in the off-road vehicles for capturing market share. Improved riding performance along with advanced technological features supporting product profile will drive the off-road vehicles market share from 2018 to 2024.
North America off-road vehicles are expected to capture over 55% industry share by 2024. Augmented government expenditure for improving recreational activities to attract more consumers stimulating industry share. Huge consumer base along with presence of infrastructure for using ATVs are primarily boosting the product demand. The rising popularity of off-road sports events such as Lucas Oil Off Road Racing Series, The Off-Road Championship (TORC), Grand National Cross Country are instigating the business growth.
Off-road vehicles industry has the presence of prominent players including Polaris, Kawasaki, Honda, Yamaha, Arctic Cat, Suzuki, and Can-Am. Other notable companies are Kubota Corporation, John Deere, Caterpillar, Bombardier, KYMCO, Taiwan Golden Bee, and Shoupu. Manufacturing companies are investing heavily on R&D for product development to enhance the overall performance and efficiency of the products.
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Recreation segment accounted for over USD 3.5 billion in 2017. Rising product demand owing to improved leisure and touring activities among consumers primarily driving industry growth. Electric ATV has captured the strong attention from consumers owing to improved performance, easy to operate and less maintenance thereby propelling product landscape.
Military segment is likely to witness significant gains at around 5.5% from 2018 to 2024. Surging product adoption owing to highly mobile, enhanced durability and effectively conveyance personal & cargo are the key benefits strongly supporting off road vehicle demand. Border security, combat operations and consignment transport are among key applications mainly instigating product demand from this segment.
SSV market share is expected to witness growth at around 6% from 2018 to 2024. This can be credited to the benefits offered such as increased mobility, rollover protecting bars and storage facility. In 2017, Dakar Rally held in South America, introduced the special category as a side-by-side vehicle class along with cars, trucks, and bikes.
Table of Content:
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Off-Road Vehicles Industry Insights
Chapter 4. Off-Road Vehicles Market, By Vehicle
Chapter 5. Off-Road Vehicles Market, By Application
Chapter 6. Off-Road Vehicles Market, By Region
Chapter 7. Company Profiles
For more information on this report, Please visit at: https://www.marketstudyreport.com/reports/off-road-vehicles-market/?utm_source=OPR-SP
Related Report:
Global Off-Road Vehicles (ORV) Market Research Report 2018
This report studies the global Off-Road Vehicles (ORV) market status and forecast, categorizes the global Off-Road Vehicles (ORV) market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, China, Japan, South Korea, India and other regions (Southeast Asia, Central & South America, and Middle East & Africa)
The global Off-Road Vehicles (ORV) market is valued at million US$ in 2017 and will reach million US$ by the end of 2025, growing at a CAGR of during 2018-2025.
https://www.marketstudyreport.com/reports/global-off-road-vehicles-orv-market-research-report-2018?utm_source=RR-SP
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