Global Off-road High-performance Vehicle Market 2016-2020
About Off-Road Vehicles
An off-road vehicle is equipped with systems and functions for driving on and off the pavement or road surface. Large tires mostly characterize the vehicle with wide treads and adjustable suspension. Most off-roader vehicles feature higher ground clearance, enhanced suspension system, and wide profile tires, which provide better traction and low-end torque to drive through the roughest of terrains. Off-road vehicles are categorized as two-wheelers and four-wheelers including SUVs. Off-road high-performance vehicles are a sub-section of the off-road vehicle market, which are typically used for racing events. Off-road racing vehicles are used in various rallies and racing events worldwide. Some of the examples of racing events include Dakar Rally, Baja 1000, and World Rally Championship.
Technavio’s analysts forecast the global off-road high-performance vehicle market to grow at a CAGR of 6.5% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global off-road high-performance vehicle market for 2016-2020. To calculate the market size, the report considers a top-down approach, where the market is derived from overall sales of Class 3 and Class 4 trucks.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Off-Road High-Performance Vehicle Market 2016-2020
Technavio recognizes the following companies as the key players in the global off-road high-performance vehicle market: Wildcat, AEV Conversions, Zone Offroad, and Icon Vehicle Dynamics.
Other Prominent Vendors in the market are: 4 Wheel Parts, Extreme Offroad & Performance, Stylin Trucks, and Summit Racing Equipment.
Commenting on the report, an analyst from Technavio’s team said: “Traditionally, police vehicles that were in operation used to do duty with rear-wheel or the front-wheel drive, but this has changed over the past few years. Automakers such as Chrysler, Ford, and GM now offer at least one police vehicle in an all-wheel of four-wheel drive configuration. Looking back to 2013, GM introduced a pursuit-rated version of its four-wheel drive Chevrolet ‘Tahoe PPV’ to go with the pursuit-rated RWD ‘Tahoe’. The trend toward AWD patrol vehicles is gaining popularity as Chrysler and GM now offer their vehicles following initial introduction of the Ford Police interceptor sedan for the Department of Police.”
According to the report, one of the key driver for market growth will be rising innovations in advanced suspension control systems. An advanced suspension system’s capability in high-performance off-road vehicles is the key attribute for the growing demand for such vehicles. This is because the suspension quality is one of the prime differentiating factors between a normal car and an off-road vehicle. Evolution in technology in this segment has had a positive impact on the off-road market and it is expected that OEMs may invest in R&D of off-road performance vehicles owing to the gaining popularity of this segment.
Further, the report states that in order to make F-150 more aerodynamically efficient, the engineers at Ford have made way for a flush-mounted windshield, a tailgate spoiler for smooth air flow, a cargo box in order to reduce the rear cab turbulence along with a duct under the headlights to minimize the air drag. The Ford is packed with new technology and construction processes, combined with new powertrain and lighter body panels, which give the F-150 good EPA fuel rating numbers. Till now, there is no regulated, agreed-upon standards or procedures that aerodynamics engineers must follow when testing the vehicle in a wind tunnel. Therefore, the biggest challenge that still persists is how to deal with a pick-up truck’s inherently large front area and how to move air around and into the engine compartment.
Wildcat, AEV Conversions, Zone Offroad, Icon Vehicle Dynamics,4 Wheel Parts, Extreme Offroad & Performance, Stylin Trucks, and Summit Racing Equipment.