Side-by-Side Vehicles (SSVs) Market is Likely to reach an estimated value of US$ 7.8 billion in 2023

Stratview Research has launched a new research report on Side-by-Side Vehicles (SSVs) Market. Published on Jun,2019 this 142-page report segments the market in three ways to provide a 360-degree holistic view.

The forecast of the market size has been segmented by –
 Vehicle Type (Utility Vehicle, Recreational/Utility Vehicle, Sports Vehicle),
 Application Type (Agriculture, Entertainment, Hunting, Military, Sports, Others),
 Region
 North America
 Europe
 Asia-Pacific
 Rest of the World

The objective of this report is to identify the Trend, Forecast, Competitive Analysis, and Growth Opportunity of Side-by-Side Vehicles (SSVs) Market.

Years considered for this report –
 base year 2018
 trend period 2012 – 2017
 forecast period 2018 - 2023

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SSVs market to reach US$ 7.8 billion

Next five years for the global side-by-side vehicles (SSVs) market seem vigorous with sizeable growth opportunities for both existing as well as new players. The SSVs market is projected to grow at a healthy rate over the next five years to reach an estimated value of US$ 7.8 billion in 2023. Recovery of the global economy, increasing disposable income, and an incessant shift from ATVs to SSVs are the major factors that are burgeoning the demand for side-by-side vehicles market. Increasing preference of SSVs in sports, agriculture, and entertainment purposes are also likely to drive the demand for SSVs during the forecast period.
SSV has earned its ways in the power sports industry and has voyaged a disruptive journey of over 20 years. Previously, SSVs were preferably used as utility vehicles, later started gaining traction in sports and recreational purposes. An SSV is more like a car and has a steering wheel and pedals. It is equipped with seat belts and rollover protection bars and allows the driver and passenger to sit side-by-side in the vehicle. Some SSV models also contain additional rows of seats to accommodate up to six passengers. Major SSV manufacturers are putting efforts for the development of advanced SSVs targeting enhanced functionality and differentiated riding experience. SSV vehicle is a type of off-road vehicle and offers many advantages over ATVs, such as better riding experience, rollover protection bars, and ease of mobility. In the last ten years, the off-road industry has noticed a continuous shift from ATVs to SSVs.

Utility SSV to remain the largest segment

The global SSVs market is bifurcated into vehicle type as Utility, Recreational/Utility, and Sports. Utility SSV is projected to remain the largest segment of the market over the next five years, whereas the sports segment is likely to witness the highest growth during the same period, driven by an increasing preference of SSVs for sports purpose.

Sports and entertainment to remain the largest application segments

The global SSVs market is segmented into application type as Sports, Entertainment, Hunting, Agriculture, and Others. Sports and entertainment are the major applications which collectively occupied more than 50% of the SSVs market in 2017. Both applications are expected to remain the largest application segments over the next five years. All the major players are launching their SSV models targeting these applications.

North America to remain the largest market

Based on regions, North America is expected to remain the largest market for SSVs over the next five years, driven by the USA and Canada. The USA is the largest global SSVs market due to its large stretches of natural terrain, unpaved roads, and large ranches and farms across the country. Europe, another major region, is likely to grow at a healthy rate over the next five years, propelled by Germany and France. Asia-Pacific is a relatively very small market but is likely to witness the highest growth during the forecast period, driven by an increased demand for power sports in many countries including China, Australia, and India.

Key Strategies

Development of new SSVs, vast product portfolio, in-house key component manufacturing, and wide geographical presence in major markets are the key strategies adopted by the major players to gain a competitive edge in the market.
The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Major SSV companies - Polaris Industries, Kawasaki Motors Corp., Deere & Company (John Deere), Kubota Corporation, BRP Inc., Yamaha Motors Co., Ltd., and Honda Motors Co., Ltd.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
 Market structure: Overview, industry life cycle analysis, supply chain analysis
 Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
 Market trend and forecast analysis
 Market segment trend and forecast
 Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
 Attractive market segments and associated growth opportunities
 Emerging trends
 Strategic growth opportunities for the existing and new players
 Key success factors.

Research Methodology
This report studies the SSVs Market, keeping in mind the interest of all the stakeholders across the value chain. The rich quality of insights is outcome of -
 Extensive secondary research,
 Rigorous primary interviews with more than 14 industry stakeholders across the value chain.
 Validation and triangulation of data with Stratview Research’s internal database and statistical tools.
 More than 1000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

Stratview Research has several high value market reports in the Consumer Goods industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/Consumer-Goods.html

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This release was published on openPR.