U.S. Off-Road Vehicles Market Growth Rate, Key Facts | Arctic Cat, BRP, Yamaha Motor Corporation, USA, Suzuki Motor of America, Polaris Industries, KTM, Kawasaki Motors Corp., U.S.A., American Honda Motor Company, Caterpillar Inc

ATV holds substantial share in the U.S. off-road vehicles market share with its applications in sports & recreation activities. Presence of organizations including American Motorcyclist Association (AMA) promoting racing events such as Extreme Dirt Track National Championship Series and Motocross National Championship Series are continuously attracting participants for trailing activities.

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Snowmobiles will witness over 4% CAGR till 2024 owing to the presence of multiple snowmobile trails. According to the ISMA, in 2017, snowmobiling contributed to over USD 25 billion in the U.S. recreational economy. Industry players are continuously upgrading the product portfolio to strengthen their foothold in the U.S. off-road vehicles market share. For instance, in August 2018, Ski-Doo announced upgrading of 2018 snowmobile models with an additional cooling system, ducting, and belt guard to enhance vehicle performance.

In 2017, utility leads the U.S. off-road vehicles market with adadption of UTVs in public works and labor assistance. UTVs aid in facility operations such as waste management systems, electrical facilities, and surveying support. Rising infrastructure developments requiring equipment towing and labor transportation will drive segment growth in next six years.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Arctic Cat
2. Bombardier Recreational Products (BRP)
3. BMS Motorsports
4. Caterpillar
5. Hisun Motors
6. Honda Motors
7. Kawasaki Motors Corporation
8. KTM AG
9. KYMCO
10. Massimo Motor
11. Polaris Industries
12. Suzuki Motor Corporation
13. Yamaha Motor Corporation

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Arizona will witness over 5% CAGR till 2024 owing to continuous rise in the disposable income. According to the U.S. Census, in 2017, the disposable income in Arizona grew by over 5% as compared to 2013. The presence of organizations such as the Arizona Office of Tourism (AOT) is promoting tourism and recreational activities. In 2017, AOT entered into a partnership with Arizona State Parks and trails to organize a summer campaign, showcasing state parks to Arizona residents, propelling the U.S. off-road vehicles market share.

Increasing injuries and fatalities arising from ORVs such as snowmobiles, ATVs, and UTVs will restrict the U.S. off-road vehicles market over the forecast period. Inappropriate maneuvering and negligence of safety is leading to accidents. According to the U.S. Consumer Product Safety Commission (CPSC), in 2016, there were over 335 fatalities and 101,200 injuries arising from ATV.

Rising sports and leisure activities across the country are continuously attracting ORV participants. ORV sports events such as USSA Snowmobiling Racing, ATV Motocross Championship, register huge participation each year. Organizations such as Society of Automotive Engineers International (SAE) host regional competitions that stimulate innovative ORV designing and manufacturing. Such initiatives will further promote participation in the U.S. off-road vehicles marketplace over the forecast timeline.

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Key participants in the U.S. off-road vehicles market include Polaris Industries, Bombardier Recreational Products (BRP), Kawasaki Motors, Honda Motors, and Arctic Cat Inc. Industry players are introducing new products to serve larger consumer base.

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