Side-by-Side Vehicles (SSVs) Market estimated to grow at impressive CAGR in the forecast period (2019-2024)

Summary:
The report on the Side-by-Side Vehicles (SSVs) Market has been launched in May,2019 by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2019-2024. The report also offers insights into different market segments and other factors affecting the market.

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Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Side-by-Side Vehicles (SSVs) Market is expected to inflate at impressive CAGR by the forecast period (2019 – 2024).

As per the report, the market is segmented by:
• By Vehicles Type: Utility Vehicle, Recreational/Utility Vehicle, Sports Vehicle
• By Application Type: Agriculture, Entertainment, Hunting, Military, Sports, Others
• By Region: North America, Europe, Asia-Pacific, Rest of the World

The Table of Contents can be gone through here:
https://www.stratviewresearch.com/toc/119/side%20-by-side-vehicles-market.html

Highlights of the Report:

The 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$ 9.2 billion in 2024. Recovery of the global economy, increasing disposable income, and an incessant shift from ATVs to SSVs are the major factor that is burgeoning the demand for side-by-side vehicles market. Increasing preference of SSVs in sports, agriculture, and entertainment purposes are 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 noticed a continuous shift from ATVs to SSVs.

The SSVs market is bifurcated into the 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.

The SSVs market is segmented into the application type as Sports, Entertainment, Hunting, Agriculture, and Others. Sports and entertainment are the major applications collectively occupied more than 50% of the SSVs market in 2018. 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.

Based on the 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 increased demand for power sports in many countries including China, Australia, and India.

Key Players of the Market

The market is consolidated in nature with five major players Arctic Cat Inc., BRP Inc., Deere & Company, Honda Motors. Co., Ltd., Kawasaki Motors Corp. holding together the major share in the market, with Arctic Cat Inc being the key player.
Other important firms are Kubota Corporation, Polaris Industries Inc., Yamaha Motors Co., Ltd.

Features of the Report

The Report discusses about the working of the side by side vehicle, the various types, and the growth of the side by side vehicle in the global market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

For inquiries, Contact:
Ritesh Gandecha
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176

400 Renaissance Center, Suite 2600, Detroit, Michigan, MI 48243 United States of America

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This release was published on openPR.