The Off-Road Vehicles Market research encompasses an exhaustive analysis of the market outlook, framework, and socio-economic impacts. The report covers the accurate investigation of the market size, share, product footprint, revenue, and progress rate. Driven by primary and secondary researches, the Off-Road Vehicles Market study offers reliable and authentic projections regarding the technical jargon.
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Off-Road Vehicles Market to Register 4.8% Growth during 2018-2027 – Reveals Fact.MR
Upsurge in the recreational and sports activities across the world is anticipated to propel off-road vehicles market over the forecast period. Increasing urban population coupled with growth youth inclination towards motorsports activities will augment product penetration across the globe. Countries including the U.S, Canada, UK, France and Australia are taking initiatives to flourish outdoor activities such as hunting and trail driving. The U.S. Recreation Department offers over 150,000 miles of trails and around 440 wilderness areas, attracting participants, thereby augmenting the off-road vehicles market share from 2018 to 2027.
This report assesses trends that are driving the growth of each segment on the global level and offers potential takeaways that could prove substantially useful to off-road vehicles manufacturers looking to enter the market. Main regions assessed in this report include North America, Latin America, Europe, Japan, Asia Pacific excluding Japan (APEJ), and the Middle East & Africa (MEA).
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The sections, by vehicle type, by fuel, and by the application in the off-road vehicles market evaluate the present scenario as well as growth prospects of the regional off-road vehicles market for 2018–2027. The North America Off-Road Vehicles market has been estimated to dominate the off-road vehicles market by value owing to the high cost and growing demand, accounting for a maximum revenue share of the market by 2018 end.
Europe and APEJ off-road vehicles markets are expected to account for over 40% collaborative revenue share, of the global off-road vehicles market by 2027 end. Among the emerging markets, the APEJ Off-Road Vehicles market is estimated to exhibit a significant CAGR of more than 5.0% over the forecast period, followed by North America with a CAGR of about 4.0%.
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APEJ Region Critical in the Off-Road Vehicles Market
The APEJ region is estimated to account for more than 20% market share in the global off-road vehicles market in 2018, and this share is expected to grow by a massive rate, causing the APEJ market to grab more than 25% market share by the end of 2027. Growing off-road activities and increasing preference for off-road motorcycling and dirt bike events are amongst the major aspects subsidizing to the regional growth. Sports events organized by the International Automobile Federation Asia will further propel the regional dominance over the forecasted period.
Global Off-Road Vehicles Market: Competition Dashboard
Fact.MR has profiled some of the most prominent company’s active in the global off-road vehicles market such as Arctic Cat Inc., Honda Motor Co. Ltd., Deere & Company, Kawasaki Motors Corp., Kubota Corporation, Polaris Industries Inc., Suzuki Motors Corporation, Yahama Motor Co., Ltd., Bombardier Recreational Products, Kässbohrer Geländefahrzeug, Textron Specialized Vehicles Inc., Wildcat Automotive, Massimo Motor Sports, LLC., KTM AG and Mahindra & Mahindra Ltd.
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The key market players in the off-road vehicles market are focusing on product development and collaboration. Vendors in the off-road vehicles market are focusing on developing technological advanced and innovative solutions that can meet the changing customer requirements. Recently, in 2018, Polaris Industries Inc. launched advanced 2019 product line-up of their off-road vehicles including the RANGER, RZR, GENERAL and Sportsman series. These models with diversified configurations includes exclusive half doors, water drains, enhanced suspension drive for smooth drive, electronic power steering, bronze tires, and varied power outputs ranging from 82 to 100 horsepower will outfit in multiple price ranges, enhancing their market share over the forecast period.
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