The Future of Side-by-Side Vehicles (SSVs) Market in the forecast period (2019-2024) as predicted by Stratview Research

The report on Side-by-Side Vehicles (SSVs) Market published by Stratview Research focusses on current trend insights and also predicts about the market condition and its future in the forecast period of 2019 - 2024

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This report, from Stratview Research, studies the global side-by-side vehicles market over the trend period 2013 to 2018 and the forecast period of 2019 to 2024. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

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Vehicle Type Segment

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.

Application Type Segment

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.

Region Wise Segment

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.

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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.

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
• 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

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