Press release
Recreational Off-Highway Vehicles (ROVs) Market to register a healthy CAGR for the forecast period, 2018-2028
Recreational Off-Highway Vehicles (ROVs)
ROVs Market: Hybridization Persists as a Major Trend
Current trend in the ROVs Market is widening the application scope and curtailing costs for facilitating & driving technological penetration. In off-highway machinery industry, progression in the development of electrical hybrid vehicles and systems continues to pick pace, with the rise in incorporation of electronics and sensors. The recreational off-highway vehicles industry continues to explore different electrification levels, including full electrification or mild hybridization, given the consensus that there are a couple of effective strategies apropos of alternative energy for powering these vehicles.
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The industry is demonstrating a paradigm shift toward all-electric ROVs, driven by the convergence of a plethora of factors that include reduction of fossil fuel dependency, recapturing energy, and ability of electric power in making vehicles more productive by leveraging efficient hybrid systems. Integration of technologies such as battery advancements, artificial intelligence (AI), combined electro-hydraulic actuators, and autonomy, will further turbocharge the abilities of electrification in ROVs.
ROVs Market: North America Remains at the Forefront
Led by the U.S., North America will continues to spearhead the recreational off-highway vehicles market, with an estimated value share of over 50% by 2028-end. Legislations are currently being set up in North America, proposing alternations to current laws related to ROVs. These changes will potentially result in a battle between the environmentalists who focus on protecting valuable natural resources and off-road enthusiasts who seek access public lands. Changes in ROVs’ legislations will further impact growth of the market in North America.
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Furthering its commitment toward improving safety of ROVs and reducing the number of serious injuries and mortalities across the nation, the U.S. Consumer Product Safety Commission (CPSC) has rolled out an advance notice of proposed rulemaking (ANPR) for addressing safety hazards pertaining to ROVs. Inadequate lateral stability & occupant protection during a rollover crash, coupled with undesirable steering attributes of ROVs are engulfed in primary evaluations of CPSC. The ANPR of CPSC is expected to significantly influence future development and manufacturing of recreational off-highway vehicles in North America.
Table of Contents Covered In this report are:
1. Executive Summary
1.1. Summarizing Key Findings
1.2. Trends and Developments
1.3. Strategic Themes
1.4. Highlighting Action Area – Wheel of Fortune
2. Global Recreational Off Road Highway Vehicle Market Overview
2.1. Introduction
2.2. Market Definition and Scope
2.3. Market Taxonomy and Segments Captured
3. Global Recreational Off Road Highway Vehicle Market Outlook
3.1. Market Size Value (US$ Mn) and Volume (Units) and Forecast, 2012-2026
3.2. Market Y-o-Y Growth
3.3. Forecast Factors and Relevance of Impact
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4. Global Recreational Off Road Highway Vehicle Market Dynamics
4.1. Drivers
4.2. Restraints
4.3. Opportunities
4.4. Trends
5. Supply Chain and Value Chain Assessment
6. Actionable Insights and Analysis
6.1. Global off road Vehicle Market Overview
6.2. Key Regulations
6.3. Technology Roadmap
6.4. Competition Footprint Matrix
6.5. Scenario Forecast
6.6. PESTLE Analysis
6.7. Porter's Five Forces Analysis
6.8. Product Life Cycle
6.9. Investment Feasibility Matrix
6.10. List of Distributors
6.11. Key Participants Market Presence (Intensity Map) By Region
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7. Global Recreational Off Road Highway Vehicle Market Analysis and Forecast by Type, 2012-2026
7.1. Analysis and Forecast by Fuel Type
7.1.1. Revenue (US$ Mn) and Volume (Units) Comparison, By Region
7.1.2. Market Share Comparison, By Region
7.1.3. Y-o-Y growth Comparison, By Region
7.2. Analysis and Forecast By Vehicle Type
7.2.1. Revenue (US$ Mn) and Volume (Units) Comparison, By Region
7.2.2. Market Share Comparison, By Region
7.2.3. Y-o-Y growth Comparison, By Region
7.3. Analysis and Forecast By Application
7.3.1. Revenue (US$ Mn) and Volume (Units) Comparison, By Region
7.3.2. Market Share Comparison, By Region
7.3.3. Y-o-Y growth Comparison, By Region
7.4. Analysis and Forecast By Engine Displacement
7.4.1. Revenue (US$ Mn) and Volume (Units) Comparison, By Region
7.4.2. Market Share Comparison, By Region
7.4.3. Y-o-Y growth Comparison, By Region
7.5. Analysis and Forecast By Speed
7.5.1. Revenue (US$ Mn) and Volume (Units) Comparison, By Region
7.5.2. Market Share Comparison, By Region
7.5.3. Y-o-Y growth Comparison, By Region
7.6. Analysis and Forecast By Sales Channel
7.6.1. Revenue (US$ Mn) and Volume (Units) Comparison, By Region
7.6.2. Market Share Comparison, By Region
7.6.3. Y-o-Y growth Comparison, By Region
And Continue...
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