Press release
Off-Road Vehicle Global Market Size is Expected to Grow $21.06 Billion at a CAGR of 6.8% By 2027 | Key Players: BRP Inc., CFMoto, KUBOTA Corporation, Polaris Inc., Textron Inc.
Off-Road Vehicle Market
The Business Research Company's Off-Road Vehicle Global Market Report 2023 identifies the Growth in the trend of recreational activities and adventure sports is expected to propel the growth of the off-road vehicle market going forward. Recreation refers to all activities that individuals do to rejuvenate their bodies and minds and make their free time more exciting and enjoyable.
The global off-road vehicle market size is expected to grow from $14.99 billion in 2022 to $16.18 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global off-road vehicle market size is expected to reach $21.06 billion in 2027 at a CAGR of 6.8%.
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Major players in the off-road vehicle market are BRP Inc., CFMoto, Mahindra & Mahindra Limited, Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., KUBOTA Corporation, Deere & Company, Polaris Inc., Textron Inc., Yamaha Motor Co Ltd., Suzuki Motors Corporation, Massimo Motor Sports LLC, KTM AG, Caterpillar, and TOMCAR Inc.
Technological advancement is a key trend in the off-road vehicle market. Major companies operating in the market are developing multi-purpose vehicles with seamless connectivity and other innovative technologies to sustain their position.
Read More On The Global Off-Road Vehicle Market Report Here:
https://www.thebusinessresearchcompany.com/report/off-road-vehicle-global-market-report
The Off-Road Vehicle market is segmented -
1) By Product Type: Utility Vehicle, Sports Vehicle, Other Product Types
2) By Fuel: Diesel, Gasoline, Electric
3) By Displacement: Less Than 400 (Cc), 400 To 800 (Cc), More Than 800 (Cc)
4) By End User Vertical: Agriculture, Military, Sports, Other End User Verticals
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Off-Road Vehicle market.
The Business Research Company's "Global Off-Road Vehicle Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Off-Road Vehicle Market Include:
1. Executive Summary
2. Off-Road Vehicle Market Characteristics
3. Off-Road Vehicle Market Trends And Strategies
4. Off-Road Vehicle Market - Macro Economic Scenario
5. Off-Road Vehicle Market Size And Growth
……
27. Off-Road Vehicle Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Off-Road Vehicle Market
29. Off-Road Vehicle Market Future Outlook and Potential Analysis
30. Appendix
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