What's driving the Off-Road Electric Vehicles Market Growth? Prominent Players: Ford, Mitsubishi, Fiat, GM John Deere, Alke, Textron Specialized Vehicles, Polaris, Yamaha, Toyota, Nissan, Toro

The rising focus of manufacturers towards the development of off-road electric vehicles and all-wheel drive cars is likely to create new growth of the opportunities of the market, says Fortune Business Insights(TM) in a report, titled "Off-Road Electric Vehicles Market Size, Share & Industry Analysis, By Application Type (Agriculture, Construction, Transportation, Logistics, Military, Others) and Regional Forecast, 2019-2026" the rising emphasis toward reducing pollution and carbon emission is expected to accelerate market revenue during the forecast period.

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Some of the Major Companies in the Global Off-Road Electric Vehicles Market Include:

Ford,
Mitsubishi,
Fiat,
GM John Deere,
Alke,
Textron Specialized Vehicles,
Polaris,
Yamaha,
Toyota,
Nissan,
Toro

According to the report, the global Off-road electric vehicles market based on application type is categorized into agriculture, construction, transportation, logistics, military, and others. The agriculture segment is expected to dominate the off-road electric vehicle market during the forecast period owing to its use in agriculture because it is one of the major sectors that use different kinds of off-road vehicles.

Stringent government regulations to curb carbon emissions are predicted to aid the speedy growth of the market during the forecast period -- furthermore, the introduction of technologically advanced off-road electric vehicles owing to the rising demand from consumers.

The report is aimed at delivering a comprehensive view of the off-road electric vehicles market dynamics and structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence.

It offers PORTER's analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases different procedures and strategies of companies currently operating in the market. It further examines the components, convincing market expansion, growth patterns, restricting factors, and market strategies.

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Government Policies to Encourage Growth in North America

Geographically Off Road Electric Vehicles Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to dominate the market for off-road electric vehicles owing to increasing government initiatives such as the Corporate Average Fuel Economy(CAFÉ) program launched in the U.S. Various countries such as the US and Canada are taking steps to decrease dependency on fossil fuel and encourage the use of electric vehicles.

Followed by North America, Asia Pacific is expected to witness significant growth owing to the presence of major key players in this region and the growing demand for electric vehicles in this region. Europe is also expected to steady growth in the market during the forecast period due to the pre-existing automotive hub and on gonging R&D in the region.

Launch of Mitsubishi Outlander PHEV to Boost Sales Prospects

Mitsubishi's new Outlander PHEV Reflex commercial vehicle is on sale in the UK. The 2020 Mitsubishi Outlander PHEV Reflex Commercial is also eligible for the UK government's Plug-In Van Grant, a discount of £7,642, resulting in an on-the-road CV price of £24,298 (excluding VAT). The launch of the powerful off-road electric vehicle is expected to create new growth opportunities for the market in the forthcoming years owing to its payload of 500 kg, with a fuel economy figure of 139.7 mpg and an EV range of 28 miles.

The vehicle uses the same technology and powertrain as the passenger version of the Outlander PHEV, meaning a 2.4-liter petrol engine is combined with two electric axle motors and a 13.8. Furthermore, the rising focus of manufacturers towards environment-friendly cars is also expected to uplift the off-road electric vehicles market share in the foreseeable future.

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