Off-road Vehicle Market is expected to Exhibit a Massive CAGR of 5.1% by 2030 | Arcimoto, ARGO

The global off-road vehicle market size is expected to reach USD 32.91 billion by 2030, registering a CAGR of 5.1% from 2023 to 2030, according to a new report by Global Market Vision. The market is experiencing substantial growth owing to the factors, such as growing consumer interest in outdoor recreational activities since the outbreak of the COVID-19 pandemic, increasing focus of government agencies to enhance tourism-related activities, and rising popularity & availability of off-road vehicles, such as All-Terrain Vehicles (ATVs), Utility Terrain Vehicles (UTVs), and snowmobiles, at local stores in the majority of the countries. Moreover, the increasing focus of manufacturers to develop battery-powered vehicles that require low maintenance costs, and rising consumer preference for electric mobility options are anticipated to drive the market growth over the forecast period.

However, the high upfront total cost of ownership remains one of the challenging factors limiting the market growth to some extent. The growing concern regarding the substantial rise in carbon emissions and Greenhouse Gases (GHG) has enabled various government officials to initiate necessary policies regarding Electric Vehicles (EVs). For instance, in Finland, a refund of up to 35% is provided by the government to the companies that install EV charging stations, and housing organizations that provide charging facilities for private utilization. Subjected to such initiatives, the country is witnessing considerable growth in sales of EVs including off-road vehicles. Moreover, the increasing consumer preference for EVs that travel longer distances while requiring low maintenance is poised to engage OEMs in developing & broadening their electric or battery-powered vehicle portfolio thereby, creating several growth opportunities for the stakeholders over the forecast period.

Get the PDF Sample Copy (Including FULL TOC, Graphs and Tables) of this report: https://globalmarketvision.com/sample_request/192613

The rising interest of consumers in recreational activities, such as sports, farming, and travel, is observed as one of the major factors driving the demand for off-road vehicles in the global market. In March 2023, Polaris Inc. added a new dealer, Bruce Hopkins Ltd., to its dealer network covering Oxfordshire, Warwickshire, and Buckinghamshire. Bruce Hopkins provides various Polaris parts along with full servicing. Ranger Diesel and Sportsman 570 models are now on display at the dealership to show potential customers what makes Polaris products adaptable. The new Polaris dealer will provide the entire utility lineup, such as Youth models including Ranger 150 and Outlaw 70 EFI ATVs, Sportsman ATVs, and RANGER UTVs. Thus, increasing demand for aforementioned products possessing features, such as arched dual A-arms, robust front & rear suspension, and wider tires, has compelled manufacturers to launch and promote their offerings that support recreational activities.

The research also offers a thorough analysis of the key market components, including drivers, challenges, opportunities, restrictions, risks, and micro and macroeconomic factors. The next section, which focuses on industry trends, discusses market drivers and major market trends. The research provides production and capacity analysis that takes into account marketing pricing trends, industry capacity, production, and production value. This study examines the market in addition to its primary geographies, market segments, and recent industry trends. The report's thorough SWOT analysis, Porter's Five Forces analysis, feasibility analysis, and investment return analysis are all meant to assist the reader in deftly developing corporate growth strategies. In order to strengthen their financial position in the industry, established market players can benefit from strategic recommendations.

Major Market Players Profiled in the Report include:
• Arcimoto
• Arctic Cat Inc. (Textron Inc.)
• ARGO
• BRP
• Deere & Company
• DRR USA
• Electra Meccanica
• Harley-Davison, Inc.
• HISUN
• Honda Motor Co., Ltd.
• Italika
• Kawasaki Heavy Industries
• Kymco
• Moto Avanzada Sa de Cv
• Polaris Inc.
• Segway Technology Co., Ltd. (Ninebot Inc.)
• SSR Motorsports
• Taiga Motors Inc.
• Yamaha Motor Co., Ltd.
• Zhejiang Chunfeng Power Co., Ltd. (CFMOTO)

Global Off-road Vehicle Market Segmentation:
The global market is segmented on the basis of type, application and region. Growth between market segments can help the user/investor analyze niche market growth points, go-to market strategies, and differentiate between core application areas and target markets.
Off-road Vehicle Market by Type:
• All-Terrain Vehicle
• Utility Terrain Vehicle
• Snowmobile
• Three-Wheeler
Off-road Vehicle Market by Application:
• Sports
• Entertainment
• Agriculture
• Military
• Hunting
• Other

Various factors are responsible for the market's growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Off-road Vehicle market. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitute, and the degree of competition prevailing in the market. The influence of the latest government guidelines is also analyzed in detail in the report. It studies the Off-road Vehicle market's trajectory between forecast periods.

Key Insights
• Market Sizing, Forecast, and Analysis: Detailed coverage of the market segment and sub-segments
• Regional/Country Trends and Forecast: Detailed analysis of the market in North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America, along with key countries in each region
• Off-road Vehicle Market Dynamics Intelligence: Market drivers, opportunities, trends, restraints, Porter's five forces, supply chain, and value chain analysis
• Technology Trends, Regulatory Landscape, and Patent Analysis Outlook
• Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, and strategic developments including joint ventures, product launches, and mergers & acquisitions
• Regional attractiveness and related growth opportunities

Global Off-road Vehicle Market Research Report 2023
Chapter 1 Off-road Vehicle Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Off-road Vehicle Market Forecast

Direct Purchase this Market Research Report Now @ https://globalmarketvision.com/checkout/?currency=USD&type=single_user_license&report_id=192613

If you have any special requirements, please let us know and we will offer you the report at a customized price.
The final report will add the analysis of the Impact of Covid-19 in this report Off-road Vehicle Market.
Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19 pandemic on the global Off-road Vehicle Market is included in the present report. The influence of the novel coronavirus pandemic on the growth of the Off-road Vehicle Market is analyzed and depicted in the report.

Read More- https://globalmarketvision.com/reports/global-off-road-vehicles-orv-market/192613

Contact Us
Sarah Ivans | Business Development
Phone: +1 617 297 8902
Email: sales@globalmarketvision.com
Global Market Vision
Website: www.globalmarketvision.com

About Global Market Vision
Global Market Vision a legacy of exceptional knowledge, integrated into providing service offers a one-stop solution that surpasses core research processes & industry standards focusing on the client's competency, strategies, growth factors, and business intelligence by creating an algorithm for meaningful data insights and presentations through a unique blend of vast industry coverage, expertise in every domain, professional work ethics & values, data authenticity & privacy.

This release was published on openPR.